Inside the Minds of a Wedding Consumer Amir

Inside the Minds of a Wedding Consumer Amir Brown, Malachi Roseman, and Taylor Owens

Main Idea ● Planning a wedding is one of the processes that consumers will make an exception to be bombarded with marketing messages. ● In addition, brides and grooms are not only more receptive to hyper-targeted messaging, but also more open to the behavioral tracking. ● Marketers are using customer data to start conversations, and to cater them to wedding consumers based on where they are in their journey.

Important Facts ● ● ● There are more than 2 million weddings performed in the U. S. each year, on average, according to the New Milford, Conn. -based Association of Bridal Consultants (ABC) The average cost of a U. S. -based wedding is $31, 213, according to The. Knot. com Contrary to belief you would think most consumers enjoy data collection and targeted advertisements but according to Kelly Scott Madison’s 2015 Media and Privacy Survey Only 21% of respondents agree with the statement, “I believe it’s a benefit to receive personalized advertisements. ” In a 2014 survey conducted by RAPP Media 55% of the consumers said that they refrain from buying products promoted in an ad that appears again and again as they navigate the Internet. But there is one exception to when consumers really want to be flooded with advertisements and that is when it's time to plan a wedding. Brides and grooms are far more willing to let marketers collect and leverage their customer data and online activity so they can have relevant information presented to them during this stressful time of planning.

Supportive Concepts Many U. S. -based brides and grooms have never made a purchase in the verticals of planning a wedding and are receptive to assistance to make better decisions quickly. ● 89% of couples set a wedding budget , and one third of couples spend more than intended. ● 58% are willing to increase their wedding budget to get the wedding they want. Brides and grooms are at an emotional stage in their lives and they’re often overwhelmed. ● They’re suddenly tasked with finding suppliers for flowers, catering, entertainment, formalwear, and accessories; therefore leading to the want of extra help.

Supportive Concepts cont. Wedding planning is becoming a digital enterprise. ● ● 62% of soon to be brides post a picture of engagement ring to social networks Social media is the main way brides-to-be are connecting with wedding brands and products 33% of brides are connecting with brands and products through Instagram. Pinterest reigns as most popular social-media platform for engaged women, with 72% using it to find inspiration and/or help planning their wedding.

Content Relevant to Class Target Market ● A particular group of consumers at which a product or service is aimed. Brides, grooms, wedding parties etc are all apart of the target market when marketers are in the wedding industry Direct Marketing The business of selling products or services directly to the public, e. g. , by mail order or telephone selling, rather than through retailers. Brides and grooms link their wedding registries, guest lists and event details to their profiles on The. Knot. com, and wedding vendors who advertise or partner with the site are granted access to that personal information so that retargeted ads Environmental scanning ● ● A process that systematically surveys and interprets relevant data to identify external opportunities and threats. Wedding planners go throughout this process when picking when weighing out the perfect wedding location. High involvement purchase ● This takes places when a consumer has to buy a product or service that is expensive, or that involves a lot of stress. Brides and Grooms spend months to a year planning the perfect wedding.

Content Relevant to Class cont. Consumer Behavior: Observes how individuals select and use products and services. ● Purchase Decision Process: Although brides and grooms are more receptive to marketed products and services when wedding planning, the same decision process applies. The couple has to assess their needs, and then proceed to research what service marketed suits their wedding desires best. Afterwards, they have an evaluation criteria and eliminate the irrelevant services and products that do not fulfill their vision, and proceed to purchase. Lastly, they exhibit their satisfaction or dissatisfaction by telling other people during the wedding process or after. New Customer Relationship Era est. 1980 s ● ● Human needs, values, and connections are now the main focus for marketers. Consumers are viewed as community members, tribes-people, as human beings who crave trust, predictability, transparency, and respect. Wedding consumers are experiencing a monumental moment and want to be able to trust organizations with ensuring their vision.

New Terms Retargeting - the process by which marketers target consumers with ads that seemingly follow users around the Web, based on their online behaviors. ● where they go, what they search for and what actions they take. Ultra-Customized Behavioral Tracking - Marketers advertise or partner with sites that grant them access to personal information so that retargeted ads and e-mail communications are tailored to geography, season, budget and taste. ● “They’re trying to customize communications to make the bride feel understood and as if you’ve curated something for her. ”

Bias or Faulty Reasoning “Today’s version of wedded bliss goes well beyond the cake-and-punch receptions of the baby boomer generation. Just take a quick peek at the industry’s ad -heavy bridal magazines and you’ll see that signature cocktails, personalized hashtags and 300 -guest receptions are becoming the norm” ● Bias can be seen in this statement because not all people are seeking extreme luxurious weddings because it’s either not their preference or cannot afford it. “This is the very first time almost all of the consumers are entering these categories, ” says David Wood, president of the ABC. “Since they’re a first-time buyer, they really do need [marketers’] help. ” ● Although the soon-to-be newlyweds may be new to purchasing wedding items, they are not in need of marketers’ help. They are capable of ensuring their own dream wedding.

References BRIDES: American Wedding Study 2016 Unveils the Latest Wedding Trends and Spending Habits of Engaged Couples. (2016, August 10). Retrieved from Market Wired: http: //www. marketwired. com/press-release/brides-american-weddingstudy-2016 -unveils-latest-wedding-trends-spending-habits-engaged-2149673. htm Harsh, A. (2017, May 22). Understanding the Relationship Era Where the More You Sell the More You Scare. Retrieved from Huffington Post: https: //www. huffingtonpost. com/entry/understanding-the-relationship-era-where-the-moreyou_us_59231 df 1 e 4 b 0 b 28 a 33 f 62 e 55 Johnston, E. (2016, May 18). 5 Steps to Understanding Your Customer’s Buying Process. Retrieved from B 2 B Marketing : https: //www. b 2 bmarketing. net/en/resources/blog/5 -steps-understanding-your-customers-buying-process Soat, M. (2015, November). Inside the Mind of a Wedding Consumer. (American Marketing Association) Retrieved from American Marketing Association: https: //www. ama. org/publications/Marketing. News/Pages/inside-mind-weddingconsumer. aspx