In any marketing project, knowing and segmenting your audience or consumers is one of the fundamental steps in any strategy. For the longest time, demographical information has been our ally in this mission, but times are changing and alternative ways of segmenting audiences are gaining popularity. We invite you to learn more about tribe marketing, which provides marketers with the opportunity to truly understand the characteristics, personality and interests behind a target audiences.
The tribe trend
Instead of depending on demographic information, in tribe marketing, its attitudes, behaviors, opinions, and interests that unite and distinguish consumers. Tribe marketing may not be new, but it is a practice that is becoming more relevant in the modern world.
Back in the old day, it was easier to deduce consumers’ behaviors and attitudes based on their location, age, and other demographic factors without alienating other potential consumers. As Forbes explains, if you were a videogame brand, it could have been true that your target audience would be young boys in a certain country with a certain level of financial resources. Today, following this generalization could cost your brand since the videogame market has expanded to include people of all ages, genders, locations, and economic classes. In the case of tribe marketing, what defines your audience is a common denominator based on behaviors or attitudes.
This is specifically important when trying to reach young audiences. Each generation is surpasses the last in size, and has more diverse and complex interests, some of which can be even contradictory. It no longer is enough to say that a brand wants to reach “millennials” or generation x, y, or x. It is no longer enough to generalize.
Prioritizing behavioral data is already proving to be an effective segmentation strategy for companies like Netflix. By segmenting their audiences according to “taste communities” based on viewer behavior, they have managed to save $1 billion dollars in subscription churn, according to Forbes. Tribe marketing will not only help you reach the right audience, it will also help you retain them, and acquire their loyalty. According to a study by Gallup, the companies that implement these strategies have an 85% higher growth rate.
This does not mean that you should stop using demographical information. This continues to be, and always will be, a key component to any audience segmentation. The idea here is to combine and complement these two methods to create a well-rounded profile of who we are trying to reach and what messages we should use to reach them.
The “post-demographic” age is here, and as we walk into a new decade, personalized content will continue to take priority in the marketing world, and there’s no better way to tackle it than truly knowing and segmenting your audience than through behavioral data. So, what do you say? Will you give tribe marketing a chance?
Source: www.forbes.com