Understanding people’s spending patterns is key to developing a proper marketing strategy. We recently kicked off our series of buyer profiles with Tightwad Tom, the cheapskate who is the least likely to let go of his money regardless of whether or not your product or service is a good fit for him.
Today, we’re jumping to the opposite end of the spectrum – and for every dollar that Tightwad Tom doesn’t spend, our next buyer will more than make up for it.
Buyer #2: Spendthrift Steve
Percentage of Buyers: 15%
Thrifty isn’t even an option for Steve. He’s living in the moment. If he’s hungry for a taco and the only taco stand within a 12-kilometer radius is selling them for $2,000, then Steve’s getting himself a taco that costs more than his Land Rover payment. Spendthrifts are going to spend until there’s a problem and then spend their way out of it. Extended warranties, infomercials and those tabloid racks at the checkout are all designed with Steve in mind. They’re the ones making it rain no matter if they’re at the club on a Saturday night or shopping for shoes at Target.