A huge challenge for most businesses is being able to determine the most appropriate customer segment to choose as their target market. To arrive at those segments, they factor in the behavioural spending habits and characteristics of the said individuals they are targeting to build a concrete target persona. While doing so, they discover that some are well informed, others confused others on the hunt for bargains and so on. So which type of customer/shopper are you serving?
To help you make an informed answer, we have compiled a list of the most common customer behaviours into personas to consider.
Fast and Furious
These customers are the ones who want to complete their shopping as quickly as possible. They are the kind to ask for a specific type of product or find the products they want quickly and complete the shopping process within the shortest time possible. These people also happen to be habitual buyers and hence tend to be loyal to a particular place due to their need to make their purchase experience highly time efficient. Their prime need is convenience and consistency of product offerings.
As the name suggests, they are limited to a fixed budget when they go out to shop. An immediate direct result of this is that they will always tend to seek out lower-priced items and discounted ones. Their loyalty extends to both lower priced brands and places but will occasionally switch to other brands to take advantage of sales promotions. They tend to value saving money over time spent acquiring the products and are significant users of promo codes and coupons. Their prime need is low prices.
These customers share one thing in common, the art of being random. They enjoy shopping and are happy to spend large amounts of time browsing and looking through different options and places before they settle on a product. They also enjoy finding new and unusual products. They also enjoy discounts and bargains but will, on occasion, pay the premium price for an item that piques their interest. They are also less likely to be loyal customers because of their need for discovering new products. Their prime need is to have options.
These shoppers rank top of the customer hierarchy in terms of spending power and are a delight for any business provided it can match their defined shopping preferences. These groups of shoppers are notorious seekers of higher quality products and are always willing to pay the premium price for them. As such have a preference for higher-status brands or niche but quality brands. Some of them derive social status from their purchasing behaviour and are mostly from the middle to upper social class. They are generally not price-sensitive and are less interested in loyalty programs, promo codes and discounts. Their core focus point is quality.
These shoppers take pride in their ability to shop. They are quite effective in determining the value of a product and know how to spot a bargain. They do not always seek out the cheapest products but instead, look out for the best-value product on sale. This can be a major brand discount, a two-or-one sale and so on. People in this market segment like to generate self-esteem from their shopping success of obtaining value at a bargain. As a result, they dislike consistent product pricing and instead, seek out the best-value products on the market. A good example of such shoppers includes innovators and early adopters who like to switch around and often try new things in the market.
Which type of customers are coming to your business? Based on the above you can now target your customers with what they are looking for.
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