“American consumers have been profoundly altered by the recession in a way that will have a lasting effect on how they shop and buy.”
A consumer behavior study by marketing research firm Decitica, Marketing to the Post-Recession Consumers, reveals that consumers have been profoundly effected by the recession, resulting in a “new normal” in their spending patterns.
The study identified four distinct types of consumers who have emerged from what’s been been labeled “The Great Recession”:
The Recession Has Changed How Customers Shop and Buy, Possibly Forever
Clearly, consumers are rethinking their buying habits. The study even includes an ominous warning: “Marketing strategies that do not fully recognize the diversity of consumers’ recession experiences won’t have the desired potency in the post-recession world.”
But rather than getting wound up trying to figure out the best way to market to each segment, here’s my profound advice: why not market to consumers who have already decided to buy what your selling?
The Involuntary Penny-Pincher may be loathe to spend his money, but once a purchase decision is made, he becomes part of a new segment: “Ready to Buy.”
The Entrepreneur.com article goes on to say:
... be visible when customers are ready to buy what you offer. Search engine marketing is vital to increasing sales from new customers who know what they want to buy and are looking for the best place to buy it.
We couldn’t have said it better ourselves.
Want to know more about marketing to the post-recession consumer? Here’s a slideshow you might enjoy: