2024 Buyer Behavior & What Has Changed
2024 Buyer Behavior & What Has Changed
I believe that success comes to you from a series of breakthroughs, big or small, and this blog post aims to help you find your next breakthrough as a creative business owner as you navigate your way through 2024. It’s all about the changes I've seen happening in the past year, primarily buyer behavior.
I have come across so many people already this year from all over, online, in groups, 1 to 1 clients, all talking about how they felt like 2023 was just different. Did you feel that too?
I have seen so many people asking questions in groups, like, “Why am I not getting a lot of leads?”, or “Why do my bookings seem to be lower than the previous year and the year before?”
There's been this huge tidal wave shift which I’ve seen some people tackle. I see them come at it from more of a marketing perspective, with the changes in platforms, changes in algorithms, changes in reels and videos, all these kinds of things, including of course, the rise of TikTok and a few other different social media platforms and how they are all changing.
So, if you are a creative entrepreneur and you’re seeing a drop in your reach or a drop in your inquiries, I suggest you do some research on that end. Even if like me, you aren’t using social media as your main marketing strategy, it is important and does play a role.
I'm going to come at this from a different angle, my favorite angle, the buyer psychology angle.
When I’m doing my own research on buyer behavior statistics via posts and write-ups and such via HubSpot for example, I really like to just see what other people are saying and doing.
As somebody who loves human behavior, human decision-making, psychology, neuroscience, all of these things, I really like to see when people are complaining ( and I don't mean that in a bad way ) about having a symptom that they're feeling in their business to kind of check out where they're at and where this symptom might actually be coming from. A lot of times, people will have a problem and they will feel a certain symptom from a problem. Some will either receive bad advice and/or they just don't know what the actual root cause of the problem is. I like to look and see what advice they are getting, and wonder what I think about their underlying problem, and stuff like that.
Anyway since about June of 2023, I have been seeing a ton of posts from those in the creative business spaces talking about how they're a little bit worried for 2024 since their 2023 wasn't going so well. They weren't getting as many leads and the leads they were getting weren’t converting into bookings and for me, this is all about buyer behavior.
After taking a good look, I would say more times than not that they just don't have a good enough brand, to put it bluntly. They don't have anything solid to market and this is being highlighted especially since this tidal wave shift that’s been changing things over the past couple of years. People are buying differently!
Whilst being a high-end sales expert for unconventional photographers and creative entrepreneurs, I also serve multi-hyphenate artists, athletes, and powerhouses.
Regardless of your field, I want to go deeper into how and why customer expectations have changed and how knowing this and knowing how to adapt is going to benefit you.
Tailoring the entire buying experience, including messaging, when it comes to offering your personalized services is crucial now more than ever.
The way that people buy is the same way that people make decisions on whether they want to listen to your music or not or if they want to go to your live concert or not. It's all the same. It all comes back to the psychology of how people essentially make decisions and lean into and really attach themselves to a brand.
Here’s an example of what I mean, and although I'm not a Swifty ( my preference is heavy metal ), I do think Tailor Swift is a phenomenon. I like searching and researching her and her brand and how she's created this thing she's doing right now. Even though she's been in the music business for so long, she's been able to create this larger-than-life branded persona, and I think it's so interesting. So too is how and why people make these decisions to wait for so long in line virtually for these tickets, and pay so much for her eras tour and stuff like that.
It doesn't matter if you are a creative entrepreneur or a performing artist, it's all the same because, at the end of the day, you're still working with people's brains. Right? Your listeners/readers/buyers all have a human brain.
I feel like I'm in this really fun, unique position as I have been in front of this ‘demand for unique experiences’ wave for a long time now observing how personalized services have shifted. My photography business actually fits perfectly into this wave. I jumped on this a while ago when I changed everything about my photography business. Let’s dive right into the 5 major focuses for 2024 buyer behavior changes.
The first being Hyper-Personalization: A Key Trend Shaping Buyer Behavior in 2024
Hyper personalization and customization are super important, and if you have a business or if you are putting yourself out there as a personal brand for your music career or your acting career, I want you to think about this one as the very first step of what to really throw your focus into. I say this because the personalization and customization of everything is happening right now.
76% of customers now expect companies and businesses to understand their needs and preferences.
This statistic came from the state of the connected consumer from Salesforce.
So, 76% of customers now expect companies, brands, services, and really anybody that they're putting their money into to understand their needs and their preferences. This is really important.
So moving forward, businesses must leverage a deep understanding of their buyers and the demand for unique and personalized experiences.
The personalized experience, tailored services, and customization really started to take a stronghold before the pandemic even happened, and it has only picked up speed since then. People love personalization. Bringing it back to Taylor Swift, the whole bracelet thing that she's doing right now, that's personalization and customization, and it makes you feel connected to her as an artist. It's freaking genius! This is the way that brains are going towards now. This goes from your marketing messaging to the packages that you're offering, to how you're guiding people through your sales process.
If you're an artist it goes from the way that you’re writing your music and to who you're writing your music for. If you’re an actor, it goes for the kinds of scripts that you're picking up. It’s all really down to this level of personalization for the person that you're there to essentially help out or perform for.
It all needs to be a personalized and tailored service. The era of one size fits all is seriously fading into the void, and will soon be a thing of the past. Today's buyers seek products and services that cater to their tastes, their needs, and preferences. In service-based businesses like creative-based services, they are even seeking out a hyper-personalization of the service that they are getting.
This is where I come in and what I have been doing for the past 6 plus years, is creating a hyper-personalized service, and I can tell you right now, it changed the game for me. I did this because I was bored, honestly. I was bored with what I was doing. I was bored with what I was offering because I was trying to fit into this one-size-fits-all model of the industry and what the wedding photography world said I had to look like and what I had to offer. The whole idea of fitting everyone who walks through your virtual door into the same three or four offers and packages will not cut it much longer.
As a creative business owner and as somebody who has a really pingy brain, I'm always thinking up different ideas, and I really love taking these ideas and transforming them into fun tangible experiences in this world. So it started with this hyper-personalization of the service that I was offering, that was my first step, and I found it so much fun. I can tell you firsthand this is what people really respond to now, and this is what high-end buyers are actually expecting in their custom experience.
If you want to break out of the messy middle market and you want to get into the high-end service pricing and the high-end market, you really need to be thinking about it from the angle of this hyper-personalization trend, because those high-end buyers will not and do not want the standard status quo, what everybody else is getting kind of service.
That’s not special. It’s not exclusive. It’s just not what they want.
This trend reflects this shift towards a more personalized buyer experience that emphasizes the individual that they are rather than speaking to a mass market and creating an experience for a mass market. So this is the biggest shift that I've seen in the last few years with the landscape of digital marketing, content marketing, and the social media death loop, as I call it ie a new app is launched and it gets flooded with users. It gets flooded with content. It gets a lot of people hooked on it because they're like, oh, yay, people are seeing my stuff finally because the other one sucked. Then the app moves into a phase of lessening the reach, and then they start to create this pay-to-play model and then the feeds are filled with ads and bullshit. People just really stop wanting to be on there, and it just makes everything feel noise. That is what eventually happens.
creating content instead that is personalized to your buyer, inevitably helps cut through that noise!
Even more so, if you're creating content that is personalized for your specific buyer and what they want to see and the way that they make decisions within buying, and it catches them when they are actually looking for a solution or to buy. That is the key here!
Hyper-Personalization is a Key trend shaping Buyer Behavior in 2024!
These aligned high-end buyers really want to feel like you're speaking right at them and with them, and you're not speaking to the world as a whole. This really is necessity now.
According to Salesforce, 76% of buyers expect brands and services to understand their unique needs and their unique expectations. This buying behavior expectation has set a totally new standard and high-end customer experience. They prefer something that is tailor made and deeply personal to them. Again, this is what I've been doing in my photography business for 6 plus years.
The high-end creative service I offer is all tailor made, and it's deeply personal to what my aligned clients want and what they need in this moment. So when you have something that answers those questions that they have and solves all of their problems past the standard problem that your business solves, that is what is going to get people to actually move the needle with you and move forward with you.
If you're not yet taking the time to go deep on how you can offer your service as something unique to your clients or how you can customize and personalize their experience, you will fall behind the wave, which is where I think a lot of wedding photographers and creative professionals ( including coaches ) have found themselves in 2023. They have fallen behind the wave. They are still offering a standard non-personalized, non-customized experience. And when I say experience, I don't just mean after the client has given you money. I mean, the experience from the time that they're aware that you are even a thing on this earth. That whole experience needs to feel personal and tailored to them.
For those creatives struggling right now, having found themselves on the back end of this wave, it's because they are not there. They are not offering any kind of personalized service. There is no customization whatsoever.
It’s so very important that you make people feel seen and heard and understood before they buy from you. It's not only important, it’s imperative right now.
So the wording that you're using on your content creation, your emails and your website, all of that counts. All of that matters a great deal to your target audience. Your aligned client needs to feel that what you have to offer is a personal and custom experience, designed specifically to them. They have to feel like you are not just making them a dime a dozen.
So that wraps up the first major focus for 2024 buyer behavior changes, Hyper personalization and customization.
Next up is the Influence of Brand Uniqueness on Shifting Buyer Preferences!
Your identity needs to stand out from the noise and step as far away from standard as possible. It's all about being uncommon so you can actually be noticed. Did you know, 47% of buyers will consume at least 3 to 5 pieces of content before making a decision to move forward or not with you? When I say moving forward, this could just be a case of staying in your world and not necessarily inquiring with you at this point. The purpose of this is to further vet you out.
Content is novel now and there is just so much of it out there. Gone are the days when you can just post about what your creative service is and people will hire you. Back when I started, it was enough to just say, I'm a wedding photographer, and I would just get people who were getting married to hire me. I would have friends that would have friends getting married and be like, oh, I know a wedding photographer. Hire Steph, and they would hire me. It was totally different then.
There was no specificity. There was no brand.
There was really nothing other than, hey, I do weddings. But now the markets have matured when it comes to consuming marketing content and being advertised to.
There is a need for an actual brand identity now. Customer expectations are higher than ever and there is a real need for the buyer to feel like they are hiring someone who stands out from the rest. In fact, you need to stand out from the rest in order for the buyer to give you a second of their brain energy now.
They need to feel your uniqueness and, furthermore, that your uniqueness gets them. They want to feel special, and they want to feel like hiring you is almost like a status thing. They want to say, I hired so and so, and people go, oh, I love them. That's what buyers expect now. Your brand has to be unique and speak to them otherwise, if they're looking at you and say three other photographers and they actually can't tell the difference with what their experience will be like, what the different offers are, and what your brand's essence is, they will pass. They want to be a part of this unique essence!
You can't be generic any longer, especially if you want to book higher paying clients who are looking for a high-end creative service. To stand out, you really need to be a no brainer for the buyer to choose you and to keep putting their energy into.
The third major focus for 2024 buyer behavior changes is in brand authenticity. This is similar to the last one however, it goes somewhat deeper. A brand can and must stand out in order for creative business owners to be noticed by buyers now, and that is what they expect.
Once you've been noticed, your brand now needs to ‘feel’ authentic, so this is really the next deeper step after standing out. Now with so many AI tools and automations available and general hands off from businesses, buyers are really wanting that authentic touch and tailored service again. They're wanting to know the human they're working with on the other side. Part of the issue why creatives who genuinely are different, nonconforming, frolic on the side stream type of folks are not feeling success because they aren’t being authentic to who they are, and buyers can absolutely feel that. They want to know who you are and who they are giving their money to. Buyers need to know that they are hiring people that align with them, and they can't do that if they're not feeling this authenticity within you. This is one of the reasons I teach how to properly set up your about me page on your site, many of which share things like loving lattes and long walks on the beach and so and so pop star.
This is cool if that's what your client values as far as authenticity. However, if you're wanting to push into the high end market of pricing and book higher paying clients, you need to be more authentic than that in a way that matters to them when it comes to their buying psychology.
You have to feel real in your content marketing, in your website copy, and anything that is a touchpoint for your leads and your booked clients, It needs to reflect your values and who you are. This will be more important than ever moving forward. According to consumer goods, 82% of buyers say they want to buy from a a brand that reflects their same values. Authenticity creates connection within a brand.
And I always say connection creates cash.
Now buyers are wondering more than ever what's real, what’s AI, what do they trust, Is it a scam?
Buyers are also so checked out now when it comes to receiving marketing messaging and advertising. It's literally a deletion in the brain half the time because the pure amount of advertisements and marketing that they see from companies is so much more than it has ever been. The traditional ways like PAS messaging, AKA - Problem, Agitation, Solution, are no longer working as well because buyers are seeing this formula all of the time. So the more authentic you are in your messaging where they feel a true connection to you will always be the winner moving forward.
The fourth major focus for 2024 buyer behavior changes is experience over ownership.
This is probably my favorite one that the tides are changing towards because this is what I've been doing for a really long time, and I honestly just love it. This tide has been shifting for a few years, but the shift is much larger now, and it's clear that this is the way that the market is going, especially with younger people having more buying power in the market.
I've always been an experience over things kind of person, which is why I leaned so heavy into creating custom experiences and personalized services for my businesses and helping other creatives do the same.
The shift towards valuing experiences over ownership marks a significant change in your buyer behavior. This tidal change reflects a deeper desire for meaningful and memorable experiences rather than material possessions. It's actually a weird juxtaposition because Gen Z is one of the highest buyers of luxury products right now, mostly designer clothing and accessories even though they don't have the money to buy it. They're going into debt over being able to buy these goods at the largest rate that has ever been seen in the American markets and the UK market.
I find this interesting because, psychologically, they're buying these goods for the main psychological driver of status and clout and image on social media. It's giving a false identity and a feeling of worthiness. I'm curious personally how this will pan out in the economy and buying behavior when there is so much spending past what they have actually able to spend on, and then they're putting it on credit or those pay later third party processors which are huge right now. I wonder what this will look like to them when they are a bit older and their prefrontal cortex has actually fully formed.
Lastly on this note Gen Z is a highly conscious generation that is super conscious on, the environment, and on sustainability, and they really prioritize this in their decision making, though over consumerism on designer products is not eco conscious whatsoever. They expect brands and businesses to take a stand on environmental issues as well and are the most socially conscious, which I think is interesting. If Gen z is an ideal buyer for you, that's something to think about with your authenticity in your brand.
The rest of the world however is consuming way less and prioritizing unique experiences with their dollars.
They're looking to buy things that last longer, and they are valuing the personalization of the experience of said thing so much more. The demand for unique experiences and personalized services is at an all time high during this hyper-personalization trend.
The food and beverage industry is also witnessing this tidal transformation, which I think is so fun, because that's actually one of my favorite experiences, to experience.
Customer expectations are high when seeking unique dining experiences now that offer more than just food. I'm one of those customers.I've always loved an experience with dining.
Since I was a kid, we would go to this Hawaiian restaurant that had thunderstorms and really cool rooms to eat in. It's not the Rainforest Café, but that was fun too. When I worked at Disney, I would go to the Rainforest Café just to sit inside because I really loved it. It transported me somewhere else. The food wasn't even that good, except I really did like the waffle fries, I didn't care, I just loved the good experience, and now I love Michelin Star Restaurants.
I love the creativity and the art within the experience. I just love it. I love all the thought that goes into every single bite that you put in your mouth from the textures to the colors to all of it. I just love it. And this is the kind of high-end experience and personalized service that I like to bring into my photography company and my Iceland retreats.
How I can transport people into their own little world for a day or 3!
How I can bring in all these little touches to make the experience something they will always remember, something that when they see an image of Iceland, they are transported back to that experience in their minds!
That's what buyers are seeking now, and it all fits together with the other things I've mentioned. Uniqueness, authenticity, and personalization all go into that unique experience they're looking for. According to a study by Eventbrite, 75% of millennials would rather spend money on a desired experience or an event over buying a material good. I've definitely seen this wave. I've seen it with me. I've seen it with My friends, I'm a millennial. I'm the oldest millennial. So I also really relate to Gen X.
Buyer behavior is showing us that people are really prioritizing going on trips over buying something material. They're also putting in the unique experience and the quality as a whole into prioritization with what they're buying.
So some of it isn't that they're buying nothing per se or less, it’s that they're they're putting different priorities into what they're buying, and they want it to last longer.
This is my favorite. This means that people can start to really innovate and do some, really cool shit in their business.
So, providing a high end customer experience is not sending a bland welcome gift after booking like a lot of people tend to do or ‘going above and beyond’ by having awesome communication and a giant PDF guide for them to read. Awesome communication is expected. Like, you should do that Anyway. And a PDF guide, do they read it? Do they want it? I don't know.
So we are creatives. We're here to innovate and inspire and I just love that every year, it seems more and more people are seeking out that unique experience within all things they are purchasing, from cars to food to in store shopping experiences to their creative service provider to their in person event of the year that they're choosing to join.
That’s why this is my favorite 2024 buyer behavior change by far to see that the tide has changed and is not going back because experiences are just so fun.
It brings in all of our human senses and engages our brains and our bodies. It is ‘the human experience’. I just love it!
The last but by no means least major focus for 2024 buyer behavior changes is convenience.
Buyer behavior has moved more and more towards convenience, as so many services - that once used to take many steps - are just one click of a button now. Customer expectations now include being able to get whatever they want delivered to their doorstep as fast as possible.
A report by McKinsey and Company highlights that convenience is one of the top factors customers and buyers consider when choosing where to shop. With 60% of global consumers citing it as a key factor, I think we'll see more and more of this for the sales process and how many hurdles you're asking your clients to make in order to reach you, to figure out if they want to buy from you and ultimately hire you. I think this will also come into play more and more with your content and the convenience of seeing and consuming it and accessing it.
So these are the major changes that I've seen with this tidal wave, hyper-personalization trend!
People are way more skeptical.
They are less trusting, generally.
They want a unique experience.
They want to know that you're real.
They are already a little, untrusting of things because of AI.
They've more than likely been burned by other service providers at this point, so they really need to see this uniqueness and feel the authenticity of your brand identity. They need to understand that your personalized high-end service is actually solving a problem by bringing them the desired solution that they're after.
These are all the reasons why you really need to be so very intentional with everything that you're doing, everything that you're putting out there, everything that you're selling, because this is what buyers are looking for right now.
So for all you unconventional photographers and/or creative entrepreneurs out there offering unique experiences and personalized services, I hope this might result in a bit of a breakthrough for you.
Maybe you’re resonating with one of these five areas where you can maybe dive a little deeper and start to change what you've been doing to have a better 2024 than 2023!
