Magazine article CRM Magazine

Connecting with the Transformational Consumer: The Most Impactful Customers Are Seeking Health, Wealth, and Wisdom

Magazine article CRM Magazine

Connecting with the Transformational Consumer: The Most Impactful Customers Are Seeking Health, Wealth, and Wisdom

Article excerpt

Many businesses struggle to segment customers and figure out on which groups to focus. In The Transformational Consumer, author Tara-Nicholle Nelson aims to simplify this process by arguing for a clear criterion: pay attention to those who are actively attempting to better their lives. Associate Editor Oren Smilansky caught up with Nelson to hear why this is the case and how this thinking can be applied across industries.

CRM: How do you define "transformational consumers"?

Tara-Nicholle Nelson: Transformational consumers are a massive and growing group of people who see all life as a series of projects to change their own behavior for the healthier, wealthier, and wiser. They are constantly on the lookout for products, services, and content they think might help. They are early adopters, and they tend to have great influence on the buying behavior of the people around them. I like to joke that if you have ever been vegan and paleo at different times in your life, you're probably a transformational consumer. Most entrepreneurs are transformational consumers. The head of product for Airbnb once told me that they see both their hosts and their guests as transformational consumers.

What exactly makes this segment so influential?

More than 50 percent of the 2,000 U.S. adult customers we surveyed said they use digital or real-world products several times a week or more in an effort to reach their healthy, wealthy, and wise goals. They spend more than $4 trillion a year on such products and services. And when they believe your product actually works for this, they will use it over and over again, buy it over and over again, and tell everyone they know about it.

What can you tell companies whose products or services aren't necessarily geared toward this segment and who can't change direction overnight?

The transformational consumer framework--shifting to your customers' worldview, seeing your world and lives the same way they do--actually applies to a surprisingly broad set of businesses, not just health and personal finance companies. They see "healthy" as including everything from pharmaceuticals to fitness to household cleaners and clothing and dog food. They see "wealthy" as ranging from personal finance to real estate to career development and even collaborative consumption platforms like Airbnb and Lyft. And "wiser" includes everything from meditation to faith, productivity, and higher education. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.