If you’re relying on demographics to tell you about your customers, you’re not getting the whole story. There’s a better way—instead of looking at demographics, take a look at the lifestyle your audience enjoys as a key to what drives purchase behavior.
That’s a secret that lifestyle brands have already discovered. Instead of pushing people into marketing brackets that don’t work, like all women ages 18 to 65, these brands identify and reach out to people based on their interests and life experiences.
But a lifestyle brand also goes beyond that. These brands don’t create a product and then find an audience to sell it to. They create products and services that are designed to enhance and grow the interests of that specific group.
Read on as we take a deeper dive into what defines a lifestyle brand.
Lifestyle Brands Reach New and Emerging Groups
Because these brands don’t market their offerings to a set demographic, they open themselves up to emerging groups of people within the United States and the world. This includes the new affluent.
There are 1.5 million affluent, multicultural households in the United States, with a buying power of $3.2 trillion. And the new affluent doesn’t just encompass cultures. It includes other groups that are growing in presence and in buying power, including the LGBTQ community, which represents a buying power of $790 billion.
Lifestyle brands know and understand that people in every demographic group have money to spend and common interests. That’s why they transcend traditional marketing by reaching out to people of a variety of cultures and backgrounds.
Lifestyle Brands Do Marketing Differently
People who identify as part of a particular lifestyle aren’t necessarily thinking about the money they’re going to spend on products. They’re thinking about how they best experience that lifestyle, whether it’s imbibing a certain type of drink, living green or being an active, outdoors person.
Lifestyle brands reach that audience by marketing in new and innovative ways. Instead of deciding on a prescribed formula for marketing, they engage their audience where they are. They think through what types of content people would interact with—and they build their strategy around that content.
That means that marketing often looks less like traditional advertising and more like discussing, collaborating, and creating the actual lifestyle within a brand’s community.
Lifestyle Brands Tell a Story
Let’s build on that thought. Because lifestyle brands aren’t as focused on traditional marketing and advertising, they delve more into blogging and social media. Places where they can tell a true story—and listen to the story their audience shares.
This dynamic of storytelling allows people to truly engage with a business and see how its offerings could enhance their lifestyle. Storytelling may focus on what a business believes in and stands for, but it will also include the stories of its audience members. These stories allow people to visualize and engage in their interests, whatever they might be.
Wylie & Co. works with a variety of lifestyle brands dedicated to being the best in their industry. Is that you? Let’s set up a time to chat.