Revealed: The customers who can save the high streetby
New research has revealed the customer segments - and their motivations - that marketers should be targeting to save their high street brands from ruin.
Against the backdrop of high-profile high street brands going to the wall, and the appointment of retail guru Mary Portas to carry out a government-backed review, Experian conducted a study of 2,000 people about their shopping behaviour.
- Informed Independence. The wealthiest of the multi-channel shoppers, they tend to live with their children in family houses. Most of their income tied up in property, they will conduct their own research and are less likely to be influenced by social media.
- Forensic Fact Finders. These young families are often over-stretched on their credit, resulting in functionality, reliability and value being the key drivers of their purchasing decisions. These consumers find reassurance in knowing the finest details of products but lack time to wait in for products to be delivered. Therefore convenient schemes such as click and collect resonate well with this group.
- Mobile Movers. New home makers tend to be young, single professionals. They tend to rely on the internet to search for information and advice about products and services: However, they prefer to receive information via their mobile rather than direct mail.
- City Clickers. These young professionals have yet to commit to partners, children or purchased property. They are experienced users of the internet and therefore use this as a key channel to purchase products and manage their finances. Again their lack of time means waiting in for online deliveries may prove to be a barrier to making final purchases online.
- Knowledge is power. Never underestimate how much consumers know about the performance and price of your products.
- Join the channels up. Make sure on and offline marketing is a consistent experience, multi-channel users will purchase across both channels.
- Incentivise consumers in the right places. Know where and what consumers respond to best.
- Embrace the power of social media, use friends networks such as Facebook to drive consumers to on and offline locations
- Make it mobile. Create an app to help them find you on the go.
Neil Davey is the managing editor of MyCustomer. An experienced business journalist and editor, Neil has worked on a variety of newspapers, magazines and websites over the past 20 years, including Internet Works, CXO magazine and Business Management. He joined MyCustomer in 2007.