46 million Americans are eager to be pursued by retailers
Recent and reliable research shows that the 46 million Americans who are Faith Driven Consumers – 15 percent of the US population – are an untapped market ripe for pursuit by retailers.
To win over this $1.75 trillion annual market, retailers must recognize and acknowledge the beliefs and worldview of the faith-driven consumer segment. While they don’t have to openly advocate for their causes or forsake other customer segments, retailers can effectively reach them in a differentiated way that will reap dividends – just as they currently do with other targeted groups.
Here, your brand operations, marketing, messaging – as well as the organizations and charitable activities you support – will be a measure by which the Faith Driven Consumer will decide if you are a suitable partner worthy of their loyalty and preference.
How can your company reach this powerful and quickly coalescing market segment and reap the benefits of their on-going support?
Here are some tips:
Create messaging that resonates
Data shows that Faith Driven Consumers are actively searching for companies that respect and are compatible with their values. Retailers that use language and campaign concepts that reflect an understanding of this group will have an advantage over the competition with this market.
Importantly, this messaging must be presented in appropriate sub-channels in ways that naturally maximize resonance and emotional receptiveness with the faith-driven audience.
Beyond these tips, if your brand is unable to take a position favorable to Faith Driven Consumers, it should remain neutral on morally divisive cultural issues like abortion, pornography and corporate actions promoting homosexual and transgender political activism.
Given this, retailers should thoughtfully consider supporting organizations that are not connected with these topics if they seek to successfully integrate with the Faith Driven Consumer segment.
Create relationships with Faith Driven Consumers
Just as the main goal of any marketing strategy is to develop a relationship with the consumer, the same applies to Faith Driven Consumers. Research shows that this highly distinct and loyal subset of Christians is very willing to switch to an alternative brand when they learn that their current retailer is out of step with – or even hostile to – their worldview.
Positively, they are eager to trumpet to their circles of influence those retailers who operate in a manner compatible with their values.
What will your brand do to engage this market segment?