The path to purchase
As a marketer, you have the same fundamental goal as your competitors: Transform prospects into customers.
How you lead them there can set you apart.
Humans are a complicated bunch. If you want a strong plan — one primed to deliver positive, lasting results — you can’t stop at one-dimensional profiles in the quest to understand your customer. Take generational data, for example: While important, it’s only a piece of the puzzle. In fact, 2015 might just be the tipping point for age-based marketing. We’re on the cusp of a new era — one in which exceptional products sold in a compelling way will be rapidly adopted by any demographic.
Post-demographic consumerism
Consumers are traditionally divided into three generations: boomers, generation X and millennials. It’s tempting to develop products and messaging simply tailored to one of these particular age groups, but that’s becoming increasingly difficult. In this emerging age of post-demographic consumerism, generations are toppling stereotypes and blurring the lines.
Millennials are generally young and have less disposable income than their parents, yet they aspire to own more than they can afford. What’s more, millennials are willing to make selective trade-offs to get what they want; for example, they’re likely to spring for a nice home with upgrades, even if it means they’ll have to look at empty rooms and secondhand furniture until they can save enough to buy the sofa or dining room table of their dreams. And ultimately, their earning power might be higher than you think. In fact, more than 6.2 million millennials have a household income above $100,000, putting them squarely into the “Affluent” category with their elders. This generation is focused on getting educated, building careers and accumulating wealth — and it’s paying off.
Long caught in the middle, generation Xers are the fastest-growing home improvement segment, but they’re still trailing boomers in the spend column. Boomers, leaders of the “aging in place” movement, are driving demand for multigenerational homes designed for older parents and adult children who haven’t left the nest. And while they didn’t grow up with computers, tech-savvy boomers appreciate apps and other digital tools that support the customer experience.
Admittedly, a person’s age helps us draw some conclusions, but customers’ interests and passions are becoming increasingly valuable — and necessary— data. That’s why, while demographic information is helpful, it can’t be a truly powerful tool unless it’s viewed through the lens of the customer journey — the complex and meandering path consumers travel as they move toward a purchase.
Charting the journey
By creating a “map” that defines the customer journey, marketers can develop and implement strategies more concisely and effectively. A carefully shaped map provides a solid foundation for mediums, messages and, later, comprehensive measurement. For example, in the consumer home market, there are often four distinct stages of the customer journey that cut across generations:
Dreaming: In this stage, the customer wants something different but isn’t ready to act. She’s simply gathering ideas using such resources as magazines or sites like Pinterest and w.
Planning/shopping: Things are getting more serious now. She might visit a showroom to see the products in person.
Purchase/install: She selects a contractor or buys products, and work begins.
Enjoyment: Work is complete. She loves it and tells all of her friends.
Following your customers throughout their journey will give you a richer picture of who they are and the underlying factors that drive their purchasing decisions. What’s most important to them? Do they enjoy cooking? Entertaining? Living green? How do these interests and passions influence their decision to turn left or right at each fork in the road? How do these traits influence the way they seek information? Armed with these keen and actionable insights, you’ll be primed to achieve results that generational tagging could never deliver.
Putting it all together
You work hard to reach and connect with your audiences. Charting the customer journey will help you plan effectively, but it will also help validate your course in a way that internal stakeholders will understand. Imagine having a scientific response for every request to create a print ad, viral video or Snapchat account.
Telling your own story well starts with knowing your customers. Having this knowledge gives you the power to develop and carry out marketing strategies based on your audience, their journey, their needs and the best way to reach them. And that’s crucial. Because it’s not about you, your brand or your product — it’s about your customers.
Leslie Gillock is VP and director of insights at Wray Ward. The creative marketing communications agency serves clients in categories from home to health care.