This is a very special episode, m’dear.
For one, I’m going to break down some cutting-edge market research that could be the key to blowing up your online following.
And, more importantly, we’re entering birthday season here at Flourish & Thrive Academy! Our 10 year company anniversary is coming up in July, and my birthday is this weekend on May 21.
If you’ve been around for awhile, you know that I take birthdays very seriously. Every year, I love to give away a value-packed freebie and a special offer for my students.
This year, we put together a FREE Pricing & Positioning guide based on one of our most successful workshops from last month. Plus, we’re offering a killer deal on a 1:1, personalized Pricing and Collection Review.
We’ll be sending out the inside scoop on May 20, so jump on the waitlist while you still can, and keep an eye on your inbox. 👀
In the meantime, let’s unpack the brand new consumer buying trends released by marketing expert Phillip Stutts.
I was fascinated by their conversation. Phillip conducted a ton of market research on buying habits in 2022. Basically, he discovered three distinct buyer personas: the Overwhelmed Purchaser, the Influence Purchaser, and the Value-Based Purchaser.
Today, I want to break down these three personas and talk about how you can use his research to inform your marketing for your jewelry brand.
Download the show notes here
The Overwhelmed Consumer
The first buyer persona is the Overwhelmed Consumer. This person is typically doing it all. They have kids at home, careers to focus on, and usually come from a dual-income household with lots to juggle.
The #1 buying motivation for the Overwhelmed Consumer is convenience. They want a purchasing experience that is streamlined and quick. They do a lot of shopping online, and spend most of their internet time on LinkedIn, TikTok, and Instagram, in that order.
Because their life is so hectic, they’re also looking for escapism. They have a moderate amount of expendable income, rank high in brand loyalty, and want to buy uplifting products online from independent brands that understand their needs.
The perfect shopping experience for the Overwhelmed Consumer will include…
- Personalization: Buying hesitation can easily be quelled by exceptional customer service and quick responses to their questions. Personal attention and product recommendations mean a lot to them.
- Convenience: Nothing will chase the Overwhelmed Consumer away faster than a clunky user experience. One-click ordering, ease of purchasing, and quality customer service will help them build an affinity for your brand.
- Escapism: The Overwhelmed Consumer is drawn to promises of escape from the daily stress of their life. They connect with brand messaging that focuses on travel, recreation, and emotional impact.
If you’re marketing to the Overwhelmed Consumer, ask yourself: how can I make the shopping process easier for them?
The Influence Consumer
The second buyer persona is the Influence Consumer. This person is fashion-forward and follows influencers online to stay on top of recent trends.
They’re usually in a transitional phase of life and focused on things like finishing their education, building a new career, planning their travels, getting married, and starting a family. Escapism isn’t as important to them, but they are image-conscious and drawn to branding that focuses on fashionable lifestyles.
The buying habits of the Influence Consumer are highly motivated by what they see on social media. They have the least expendable income of the three personas, so they’re very selective. When they come across a post about a product, they want all the information upfront in the caption: the product details, the price, and where to buy it.
The perfect shopping experience for the Influence Consumer will be…
- Trend-Focused: Fashion-forward products will resonate most with the Influence Consumer. They’re always on top of the most relevant trends and have a curated sense of style.
- Unique: Although it may sound contradictory, the Influence Consumer really wants to stand out and make a statement. Marketing that resonates with this core desire to be unique will be very effective.
- Value-Driven: The Influence Consumer has the least expendable income of the three personas. This doesn’t mean you should offer discounts to compete with fast-fashion, but instead prioritize ways to communicate the versatility and lasting value of your product.
If you’re marketing to the Influence Consumer, ask yourself: how can I emphasize the style and value my product has to offer?
The Value-Based Consumer
The third buyer persona is the Value-Based Consumer, also called the Activist Consumer. This person shops in a specific niche that aligns with causes they care about. They want to leave the world a better place, and look for brands that share their vision.
They have the highest amount of expendable income of the three personas and are willing to spend more on products that make them feel like they’re a part of something bigger.
The Value-Based Consumer is looking for brands that stand for something and give back. This comes in many forms from philanthropy, social justice, and sustainability, to family-values, religion, and politics.
The perfect shopping experience for the Value-Based Consumer involves…
- Authenticity: Generic language about being “sustainable” isn’t enough for the Value-Based Consumer. They’re looking to support niche brands whose entire operation is centered around a specific value or cause.
- Alignment: The Value-Based Consumer wants to feel good about their purchasing decisions. They’re most likely to purchase from brands with messaging, imagery, and products that align with their core values.
- Transparency: The Value-Based Consumer is going to be critical about how the brand they’re shopping from is taking action to “put their money where their mouth is,” so to speak. Does a certain percentage of sales go to a specific charity? Is the chain of supply for materials well-documented and ethically sourced? Is a tree planted for every purchase? Whatever it is, they want brands to be transparent about the actions behind their words.
If you’re marketing to the Influence Consumer, ask yourself: how can I educate my audience on my brand’s core values and demonstrate actions that align with my brand mission?
Which consumer are you marketing to? Listen to the full episode above, where I dive deeper into each buyer persona and give recommendations on how you can reach them.
Listen to Amy Porterfield’s Podcast Episode: Consumer Habits That Will Affect Your Business & Why Brand Loyalty Is Changing with Phillip Stutts
Win Big Media’s Market Research Report
Tracy’s Birthday Freebie
Shopify 14-Day Free Trial
Listen on Apple Podcasts!