Mad 4 Blog





Posts Tagged ‘niche group’



Oct
04
2010
0

Forever Young: Marketing to Emerging Adults (Part Two)

Monday, October 4th, 2010

Last week, we introduced the concept of emerging adulthood as defined and extrapolated upon in a New York Times article by Robin Marantz Henig. The term was created by psychology professor Jeffrey Jensen Arnett to describe the extended growing-up process that’s undergone by today’s youth between late teen years until about age 30.

This week we ask: How does all of this relate to marketing?

Well, of course marketers are always keen to target their most responsive audiences. By defining and addressing key demographics, communication can be established and long-term relationships can begin to develop. By being among the first to acknowledge and identify this life stage, marketers can smartly adapt campaigns to speak directly to emerging adults, rather than lump them into an adulthood group with those over 18 and younger than 45.

Originally surmised by psychologist Kenneth Kensington in the 1960s, and confirmed today by Arnett’s findings, characteristics of the late teens to late twenties age group include: “pervasive ambivalence toward self and society,” “the feeling of absolute freedom, of living in a world of pure possibilities” and “enormous value placed upon change, transformation and movement.” Taking into consideration the unique traits, behaviors and needs that define this niche group, marketers can best speak to emerging adults on their own terms.

And it isn’t like scientists discovered an over-the-hill life stage for those aged 45-55. This new class of individuals is just out of high school or college, and marketers who get a grasp on emerging adulthood have the chance to severely impact overall success in terms of brand relationships. Because generations are also now living longer than ever before, securing a bond with customers and clients while they’re in their youth means potential connections for at least another half-century–if not more.

This is especially underscored by the fact that emerging adulthood is being significantly defined by the 20-somethings perspective on their life’s direction, ambitions and their own personal future–and by reaching them in this forming, malleable state, it gives marketers a lot more room and flexibility to begin conversations than with another age group–which, when younger, may change several times before picking one path…or may, when older, be fixed on one path or idea and refuse to budge at all.

Of course, it needs to be said that “emerging adult” has not yet entered the psychological or sociological vernacular; in fact, several scientists contest that it can’t be considered a valid life stage until it’s ubiquitous, a necessary status that all persons must pass through to become adults–regardless of background, economy, generation and other variables. But for the smart marketer, keeping an eye on such trends that are, well, emerging, is just one way to keep understanding and serving your audience—while getting an edge on the competition. And while we’re talking about staying ahead of the curve, may we at Mad 4 Marketing be the first to progressively suggest the nickname “e-dult”?



Sep
13
2010
0

Creating Baseline Audience Profiles

Monday, September 13th, 2010

So, we’ve already discussed a few reasons and ways to monitor audience responsiveness. But once you’ve got yourself set up in that regard, there’s a more advanced step that you should implement. And that’s creating a customer profile (or set of profiles) by which to base your next campaign strategies. This is just one way to analyze and then apply the information that you’re collecting in an organized and practical way.

 

This step comes into play once enough data is collected to start drawing parallels and noticing trend-based patterns (perhaps six months to one year after you start). What you’ll want to do is come up with one baseline model–or preferably, a few model types–based on how customers/clients/audiences are buying and using your products or services. Depending on your business and how divisions fall among those who interact with it, you can create very generic models–such as female/male–or create entire baseline characters, such as the buyer who is under 30 years of age but married with a household income of more than $100,000. Or individuals who shop before 5pm. Or some other kind of category that is unique to your business and exhibited in repeat behaviors.

 

This will also depend on what kind of information you can derive from the types of marketing you’re monitoring and analyzing. Using as many stats and demographics as you have access to can lead to more tedious but more beneficial profiling overall. Tracking should also take into account the beginning, middle and late stages of each model type’s interaction with your brand. You definitely want to acknowledge ways that behaviors change with time and figure out why. Then you can incorporate how you’d like to ideally see relationships develop–based on realistic, data-backed prospects.

 

For example, you may infer three main shopper types: A, B, C. If you’re noticing that the Type A persona is a mother who shops during workdays and often browses the kids’ wares, you may wish to add more products along these lines or incentives for those with families—such as a Back to School Sale running Monday-Friday. Type Bs may typically shop 45 minutes and spend $150 per visit. You may wish to set goals to bring up their spending to an average of $200 per visit or entice them to stay longer to explore more merchandise. However, you’ll need an entirely separate set of advertising agenda for Type C, which are quick-shopping nighttime male shoppers. Naturally, seeking ways for these targeted, goal-oriented marketing tactics to overlap is the best possible strategy for time and cost efficiency.The bottom line is to acknowledge that not all customers or behaviors are the same. Setting targeted goals and watching targeted groups over time can drastically improve business—as opposed to investing in very broad campaigns by assuming that your audience can be defined by one set of standards. By that same vein, you also won’t want to exclude potential new customers by basing decisions on how old ones acted, or by how one niche group acts. To keep from becoming stagnant, it’s vital to implement continued monitoring. Then you’ll want to compare expected results to the ways your profile-based marketing campaigns actually take hold with each model group. That way you can modify models and their respective campaigns until you discover what works best.