How to Target and Sell to NEO's.

Last post on this blog, "Are you talking to me?", I wrote about the three most interesting target groups; Evolvers, NEO's (New Economic Order) and Traditionalist's. Lets take a look at the most interesting and lucrative of them all, NEO's.

NEO (New Economic Order)

So, what is a NEO? 60% male 40% female, in the thirties to forties profile, business people with degrees. In marketing jargon- a classic "A"segment.

NEO's make up around 24% of the population on average around the world with minor variable allowances for certain countries. But, and this is the big but, they account for more than half of the discretionary spending in all economies and across all age barriers.

They are high discretionary choice consumers with the highest spending capacity and earn more than anyone else to fuel their constant consumption.

They have a sense of investment when they buy. They have little confidence that discounts and price offers will deliver the quality they expect.

They are attracted first by the product and the status it will deliver. NEO's focus on price only when they have low involvement with a purchase-when desire is not in play.

Premium lifestyle products are the preference of NEO's- the well designed, high quality product at the very top of the rich heap.

They have a high appetite for all kinds of rich information and rich content. They are willing to try the road least traveled and try something new.

NEO's are attracted to product with authenticity that stands for something rather than to merchandise created with personal commitment and passion.

NEO's are motivated by options- they like to discover something new for themselves and then tell other NEO's about it.

NEO's are individualists with a focus on control-success determined by planning rather than mere luck.

They have a preference for specialist magasines of the type Conde Naste, GM, Vogue etc. that focus on desire, imagination, design, whispered secrets. Future directions and that take a stance.

Their belief- the concept of "learning a living rather than earning a living".

TRADITIONALISTS

I won't go into detail here about Traditionalists other than to say they are occasional consumers motivated by promotional events and make up around 50% of any population. They are attracted to "the deal" and the true and tested. Slow to adapt to new technology and believe life is determined by luck rather than their actions.

The choice is yours, although for my money I know which one I would be targeting with my brand message.

Discover how to interest them, visit The Baldchemist

Are you talking to me?

Is your brand fighting for attention in a very cluttered environment? Have you really recognised who your brand should be talking to? You may well ask and why should you care?

The demographic of 18-35 year olds is quickly losing its spot as the most profitable target market.

New Economic Order and Traditionalists with the means and disposable income have rapidly become the most receptive to premium branding.

Independent research by Ross Honeywill and Verity Blyth of The Neo Group have,over 5 years obtained from 500,000 interviews and data across four continents with more than 2000 variables highlighted the need for a major rethink of brand strategy.

Three consumer groups have been identified; Evolvers, the youngest of the groups. NEOs the most dominant in the 20s, 30s and 40s age groups and finally Traditionalists, the 55+ segment.

A quick review of the groups reveals, NEOs insist on controlling their own lives, whereas Traditionalists prefer someone else to organize their lives for them. Furthermore NEOs represent a significant percentage of consumers who earn more and expect more, no, demand more than any other group. Their spending propensity, capacity and behavior well qualify them as premium consumers. They invest more and use debt to fuel their lifestyle ambitions. They will pay a premium for premium products that put them in control and at the forefront of trends.

NEOs prefer brands that reflect their passion as pioneers for the path less traveled and for creative options. They are after all, premium customers for premium brands and premium experiences and want to be courted as premium.

Understanding and motivating premium customers is the challenge of the decade. To engage their minds sufficiently for them to act.

Back to my opening question; Is your brand fighting for attention in a very cluttered environment?

More importantly, knowing how to address this very important audience and stand alone as empathetic premium producers.

To be continued...or visit The Baldchemist official website for valuable detailed information.

IT The new requirements

Dont make the mistake of thinking that being a technical geek with IT is enough!

Computer World recently examined with the help of three research groups, the most sought after IT skills. The findings gave us at the baldchemist reason to open yet another bottle of Bollinger.

Basic programming and technical support work are disappearing to automation and outsourcing. The opportunities will be for those who understand business processes, can design and execute technology plans that create business value and can cultivate relationships both in and outside an organisation.

These hot in demand skills cross traditional boundaries, combine technical know how with a high demand for business and communications savvy.

Most in demand, those who know how to face clients, design advanced and sophisticated applications customized to add business value in a specific Industry or organisation.

More collaboration, interdisciplinary and much broader skills than the code crunching programmers presently in abundance are called for.

The requirement, solid technical competence combined with fabulous business, organisational knowledge as well as outstanding people and communication skills.

Service skills will become more and more in demand. What is service you may ask? Well any thing that is economic that cannot be dropped on your foot. More precisely service is the application of skill to solve a particular problem. IT service in particular.

Of course there are those who doubt whether these skills can be taught. That they are the results of years of learning and experience. It remains to be seen.

We at the baldchemist are particularly glad that we have, over the years, acquired such skills. Much to the joy of our clients who want to get on with what they do best and leave this type of stuff to us.
Are you talking to me?See www.thebaldcehist.com for more. We'll inform you!