As we move ever deeper into the fourth Industrial Revolution, and technology integrates more and more into our daily lives, the need to understand the online market is essential for businesses to engage with their consumers in a meaningful way.
Consumers are being overloaded on a regular basis and instead of feeling empowered, are starting to feel overwhelmed. For your marketing message to stand out, your content needs to be curated in a way that resonates with your chosen target market.
Posts that resonate with consumers and strike an emotional chord are more likely to be shared. The larger the audience, the more effective the advertising impact. More time spent on social media means more engagement, which translates to higher conversions.
Consumers are looking for personalised & positive content that they can engage with. According to Epsilon 80% of respondents are more likely to do business with a company if it offers personalised experiences over generic campaigns, and some 62% are more likely to buy products from companies they feel are doing good for society – EY Consumer Future Index.
The EY Future Consumer Index has identified five different cohorts of consumers:
Affordability first (32% of consumers): Living within their means and budget, focusing less on brands and more on product functionality.
Health first (25%): Protecting their health and that of their family, choosing products they trust to be safe and minimizing risks in the way that they shop.
Planet first (16%): Trying to minimize their impact on environment and buying brands that reflect their beliefs.
Society first (15%): Working together for the greater good, buying from organizations they find to be honest and transparent.
Experience first (12%): Living in the moment to make the most of life, often making them open to new products, brands, and experiences.
Utilizing customer segmentation and personas can bring deeper insights to media strategies and creative marketing approaches. To conclude; engage with your target audience, personalise your content, and focus on ‘feel good’ stories to bring in the desired results.