The key to branding is understanding your target audience and what makes them tick.
Rather helpfully this week, Euromonitor International published its annual research into consumer types and paths to purchase. It details eight different consumer groups, and here we delve into the two biggest – Secure Traditionalists and Empowered Activists, which account for 20% and 17% of global consumers respectively, says Euromonitor.
Secure Traditionalists: 53% male and with an average age of 41 years old, these consumers have a good average annual income – around USD $34,594 (£27,000). Set in their ways, they actively avoid shopping, preferring to save rather than spend. When they do shop, not surprisingly, they look for value-for-money and low prices.
Eschewing trends and fashion, Secure Traditionalists are not overly influenced by marketing and advertising, but like a discount or offer. When it comes to targeting Secure Traditionalists, brands need to offer clearly-labelled, low prices and make the shopping experience quick, efficient and convenient.
Empowered Activists: 55% female, with an average age of 40 and average household income of USD $38,842 (£30,000), these consumers believe they can make a difference. They’re in touch with, and concerned about, global issues, meaning they want quality, durable products to reduce their consumption footprint. They tend to consider their own well-being and shop with a conscience, so brands with ‘eco’ values or a ‘natural’ USP, will catch their eye because they associate these features, rather than big-name or traditional, premium branding, with high quality.
Brands can certainly attract Empowered Activists through traditional marketing and advertising, but the most success is likely to come via social media, as these consumers are strongly influenced by their peer group and family. Ethical and green brands that use social media to connect with them are more likely to resonate and win loyalty.
Look out for more consumer insight from Euromonitor in the coming weeks and in the meantime, if you’d like help to align your branding with your target market, get in touch.