Not All Tech Consumers Are Created Equal
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The document outlines key insights about tech consumers, highlighting distinctions between various types of techies based on their purchasing behavior and engagement with technology content. It emphasizes the importance of targeting high-spending tech consumers on social platforms, particularly LinkedIn, where they actively seek and share product information. Marketers are encouraged to adapt their strategies to engage these influential consumers effectively.
Not All Tech Consumers Are Created Equal
- 1. Not All Tech Consumers Are Created Equal See the research revealing where you can find the most valuable techies.
- 2. Lifestyle Targeting Is Missing a Valuable Piece Lifestyle locations Clever creative Additional consumer insights ©2013 LinkedIn Corporation. All Rights Reserved. LMS 2
- 3. Not All Tech Consumers Are Created Equal Non-techies Discriminating techies Indulgent techies Purchase rarely Purchase few products, Purchase often, spend more less often Early adopters with high Low lifetime value Spends less disposable lifetime value income on tech Share opinions & Engage with tech content & influence others discount offers Seek tech content & discuss in groups They turn to different social networks for different reasons: 1. Discounts or special offers 1. Company news & updates 2. Company & new product news 2. Group discussions ©2013 LinkedIn Corporation. All Rights Reserved. LMS 3
- 4. 01 Active shoppers of technology products 02 Heavy spenders on consumer technology Key Findings from LinkedIn 03 Turn to social before and after a purchase Members 04 Look for tech news & updates on LinkedIn 05 Advise peers about technology ©2013 LinkedIn Corporation. All Rights Reserved. LMS 4
- 5. LinkedIn Members Actively Shop Technology Products % 88% % 96 81 Shopped for Purchased Plan to purchase at least one consumer at least one consumer at least one consumer tech product in the tech product in the tech product in the past year past year next year Source: December 2012 survey of U.S. LinkedIn audience (among members overall) ©2013 LinkedIn Corporation. All Rights Reserved. LMS 5
- 6. They Spend Heavily on Consumer Technology Consumers who spent more than $1,000 in 2012 25% spent more than $2,000 LinkedIn members* 53% They own more devices and refresh their devices more often General population** 27% Sources: *December 2012 survey of U.S. LinkedIn audience **CEA Report: 14th Annual CE Ownership & Market Potential study, April 2012 ©2013 LinkedIn Corporation. All Rights Reserved. LMS 6
- 7. They Turn to Social Before and After a Purchase 56% 53% Find information Share information about a consumer about a consumer technology product they technology product they want to purchase have purchased Source: December 2012 survey of U.S. LinkedIn audience ©2013 LinkedIn Corporation. All Rights Reserved. LMS 7
- 8. They Trust LinkedIn Most for Product Information ? For each of the following types of information, which social network would you trust the most?* 74% Tech product info 18% from experts 8% 56% Tech product info 34% from brands 9% 50% Tech product info 43% from peers 7% *Among LI members who would trust social media for this information | Source: December 2012 survey of U.S. LinkedIn audience ©2013 LinkedIn Corporation. All Rights Reserved. LMS 8
- 9. Their Product Advice is Sought by Others 95 % 93% 68% I rely on technology I would listen to Others come to me for to manage parts of my life a colleague’s advice and information recommendation on which about technology CE product to purchase Source: December 2012 survey of U.S. LinkedIn audience ©2013 LinkedIn Corporation. All Rights Reserved. LMS 9
- 10. Best Practices for Marketers Target the high-spending, influential indulgent techies that may be missing from other social platforms Develop a trusted presence on the most relevant channels Engage followers and encourage them to share feedback on products Build a content marketing strategy that that provides relevant information to each stage of the purchase process Listen to when, where, and how consumers want to engage ©2013 LinkedIn Corporation. All Rights Reserved. LMS 10
- 11. Learn how you can reach this audience on LinkedIn marketing.linkedin.com/contact Mike Weir Head of Category Development, Tech Sector LinkedIn Marketing Solutions http://www.linkedin.com/in/michaeldweir 11
Editor's Notes
- #2: ----- Meeting Notes (1/17/13 11:05) -----Marketing and advertisersResearch studies- on consumer electronics marketersSales deck used to communicate foundingMain story 5-6 (get these right first)Appendix - Deeper slides
- #3: Consumer tech marketers are successful getting into the mind (creatively) of their customers and reaching them based on what they like (sports, TV, entertainment). There is an important missing piece that would add to their marketing – additional consumer insights. (See next slide)
- #4: Not all tech consumers are created equal. There are: 1) The Casual techies who rarely use technology, update devices in long cycles and have little value to marketers2) The Discriminating Techies who are casual users, exhibit tech-savvy attributes (ie. Read tech news, want product info) but they purchase technology less frequently because they have less money to spend. They prioritize the money they do have to buy tech products. 3) the Indulgent Techies who are enthusiastic tech users that are not only interested in technology but they also influence others, buy more, spend more and as a result, have a higher lifetime value for marketers. These audiences turn to different social networks for different reasons. We surveyed our members who confirmed that they look on Facebook for discounts and offers on the latest products, but they turn to LinkedIn for product news and updates. And it is on LinkedIn where more of the Indulgent Techies can be found. Overall, we need to make this less self-serving. I’d like to try and infuse the storyline that slide 2 sets up to make the data slides first speak to what discriminant and indulgent techies want & do then show that linkedin can help.For instance, indulgent techies don’t want coupons they want educational content, product comparisons, etc. Indulgent techies tend to be sought out by friends for their feedback on tech purchases
- #5: 1) LinkedIn members are active consumers of technology products: Nearly all members shopped for consumer technology products in the past year (96%).Among these, more than nine in 10 ended up purchasing one or more products they shopped for (92%).2) LinkedIn members are heavy spenders on consumer technology: More than half spent $1,000+ on consumer tech products in the past year (53%), compared to just 27% of general population3) LinkedIn members would turn to social both before and after a purchase:Nearly three in five would use a social network to find information about a tech product they want to purchase (56%).More than half would use a social network to shareinformation about a tech product they have purchased (53%)4) Look for tech news & updates on LinkedIn• Of LinkedIn members that follow tech companies on LinkedIn, 49% expect tech company news & updates (compared to 25% on Twitter and 35% on FB)5) Advise peers about technology• 68% say “others come to me for advice and information about technology• 93% “I would listen to a colleague’s recommendation on which CE product to purchase”
- #6: Q4 – 501/520=96%Q5 – 496/520=88%Q7 – 423/520=81%Q4: Which, if any, of the following consumer technology products have you shopped for in the past 12 months? Please select any items you purchased during this time, as well as items that you might not have purchased but did look at either online or in stores.Q5: [Ask if any A-I selected in Q4] You indicated that you shopped for the following consumer technology products in the past 12 months. Please tell us which, if any, you ended up purchasing during this time:Q7: Which, if any, of the below consumer technology products do you expect to purchase within the next 12 months? Please include any products that you do not currently own but expect to purchase in the next year, as well as any products that you currently own but expect to purchase another in the next year.
- #7: *Among ALL members – not just those who purchased any in the past yearQ6: [Ask if any A-I selected in Q4; do not ask if B selected in Q5] Over the past 12 months, approximately how much money has your HOUSEHOLD spent on consumer technology products? This includes, but is not limited to, consumer technology products that we talked about in previous questions. Please include money spent on items for household members as well as gifts to others.(Q9, 145/277 =53%)
- #8: Q2: Please indicate whether you agree or disagree with the following statements.
- #9: *Base:LI members who would use social networks for each type of information (excludes those who choose “I would not trust a social network for this type of information”)Q18: For each of the following types of information you might seek when considering consumer technology products for purchase, please tell us which social network you would trust most for this type of information:
- #10: Q2: Please indicate whether you agree or disagree with the following statements.% who agree with each statement
- #11: Not all consumers are created equal; Marketers are missing a lucrative audience by not including LinkedIn. The Gen Pop spends nearly half on tech of a LI Member. With 53% of members spending more than $1,000 a year on tech products and buying more often, the lifetime value of this audience grows exponentially. ($1,000/year x 10 years = $10K vs. $5K for Gen Pop) And LinkedIn members vastly underestimate their spend. By not reaching this audience, a huge revenue opportunity is potentially lost.LinkedIn is the trusted platformPeople turn to this audience for advice on tech products. Give them a channel where they can share their feedback with their network and reap the benefits of these recommendations.Build a content marketing strategy that suits the context of LinkedIn – not deals and offers but news and information.Listen so you can continuously optimize and refine your relationship with followers.