Research has shown that Live Well™ Consumers are considered the most high-value customer segment for brands. Yet many companies that rely on traditional market research methodologies have yet to identify exactly who these consumers really are.
In fact, many segmentation studies are conducted each year to identify a brand’s highest value customers to align new products and services with those most likely to purchase and adopt them. While these traditional segmentation studies are still relevant and hold incremental value for companies, they are not designed to detect additional cohorts of consumers within each segment that matter the most – their Live Well™ Consumers.
Live Well Consumers make decisions about the brands, products, and services within their lives based on their own unique personal values and motivations. While many companies are already keen to focusing on brand authenticity and reaching the consumer at their level, it’s impossible to do so accurately without knowing the Live Well Consumer dimensions
Insights from The Olinger Group’s recent studies through the Live Well Lens have proven that brands catering to Live Well Consumers are more likely to see higher spend and increased brand advocacy. But how do brands meet the needs of these consumers if they have yet to identify them?
First, it’s recommended to learn if Live Well™ is the right research methodology for your brand’s goals. Using proprietary research, Live Well is designed specifically for companies looking to understand their consumers motivations at the deepest level. These insights help brands forge action-focused messaging and marketing that improves brand perception, increases consumer loyalty, and directly impacts ROI.
SUGGESTED FOR YOU: WHY YOU SHOULD CARE ABOUT LIVE WELL
After identifying Live Well Consumers, how can brand evolve to better serve them?
Understanding Live Well™ Consumer Needs
Live Well Consumers are proven to have higher preference for brands that make them feel as if they are a part of its ecosystem. In 2023, The Olinger Group released a study showing that Live Well Consumers are generally healthier, prefer higher-quality goods, and are loyal to brands that align with their personal motivations. More surprising facts from this study revealed consumers who track to be Live Well Consumers, also show favoritism to brands who clearly communicate and resemble their personal values in the following social cause categories:
- Sustainable Sourcing
- Green Manufacturing
- Social Responsibility Initiative
- Fair Labor Practice
- Transparency
- Reduction of Carbon Footprints
Developing Focused Product Lines
Historically, brands utilize traditional segmentation studies to assess the demographics and psychographics of their high-value customers to create new products or determine new inventory categories. While this is the way things have always been done, the Live Well Lens takes this data a step further by understanding the behavioral motivations of their customers. This research allows brands to make the smartest and most impactful decisions during product development without any guesswork.
As mentioned earlier, The Olinger Group found that Live Well Consumers prioritize their health and are generally healthier than the average consumer. Using this data as an example, brands seeking to cater to customers who are ready to spend can include organic, natural, and environmentally friendly products within their product line-up. Marketing teams can take the next step through messaging to let consumers know these products are available and therefore align with their values – and in turn increase profits. Of course, not every company is focused on health and wellness products, but there are internal ways to create an environment that supports the wellbeing of a company’s employee population.
Communicating these health-forward efforts to a consumer base leads us into the next step:
Emphasizing Transparency and Authenticity
When a brand is transparent, customers establish trust and loyalty in it.
Live Well Consumers value transparency and authenticity in the brands they support and are more likely to refer the brand to friends, family, and social circles than other consumers. Brands that prioritize values such as employee care, clean and careful ingredients, sourcing practices, and manufacturing processes can build credibility with their Live Well Consumers. There are numerous ways brands can prove transparency, whether through marketing communications or on product labels. Live Well Consumers are well-informed and educated when it comes to identifying these efforts, and they derive greater value from brand transparency and ethics than other consumer segments.
Engaging in Social Causes
Brands that actively engage in social causes resonate strongly with Live Well Consumers.
By supporting initiatives such as environmental conservation, public health campaigns, and community wellness programs, brands can highlight their commitment to the well-being of their consumers and society. This not only retains Live Well Consumers who are likely to recommend the brand to others, but also creates a positive brand image and fosters brand evangelism.
Cultivating a Community
Live Well Consumers are often invested in a brand beyond what is being sold. These consumers seek connection and community with like-minded individuals and are often more loyal to brands that make them feel a sense of pride and belonging. Brands seeing success within community cultivation do so in numerous ways. These communities can be online communities, in-person meet-ups, or sponsorship of events that their consumers are connected to.
Harnessing the Power of Word-of-Mouth Referrals
Live Well Consumers have the potential to impact others and turn them into high-value customers over time. Through consistent persuasion and focus on the brand, word-of-mouth referrals from Live Well Consumers can influence others to adopt a similar lifestyle and become loyal customers. This organic growth can lead to increased profits and further enhance the brand’s reputation.
By catering to the needs and preferences of Live Well Consumers, brands can experience higher profits, create brand evangelists, and have a positive influence on other consumers. Through a combination of product development, transparency, social engagement, community building, and harnessing the power of word-of-mouth, brands can establish a strong presence in the Live Well Consumer segment and thrive in today’s health-conscious market.
Ready to dive deeper? Our researchers are here to help identify the Live Well™ Insights that matter most to you.