This is Isaac.
He’s 28 and lives in a share house in Surry Hills. He works for a well known advertising agency as a senior account manager, likes live music, a good schnitty at a pub and is the kind of guy who knows what an NFT is. He’s competitive and loves winning, but deep down he’s concerned about how others perceive him and for Isaac, being socially accepted is really important so occasionally will stretch beyond his means.
Why do we know so much about Isaac?
Well he is representative of a Cashrewards shopper persona - The Independents. He’s emblematic of just one of our key shopper persona groups. And at Cashrewards we make it our business to understand Australian shoppers, so we can engage them and connect them with the brands, products and services that will solve their everyday problems and satisfy their retail wants.
Defining our core shopper personas was a crucial part of developing a deeper understanding of our shopper base. These personas play three crucial roles within our business:
- They provide a clear and consistent understanding across departments of who our shoppers are.
- They provide a wealth of insights we can use to develop creative campaigns, product features and offers that engage our shoppers.
- They help us find more like-minded shoppers who could benefit from Cashrewards.
It’s our deep relationship with shoppers that has afforded us the opportunity to partner with some of Australia’s biggest brands, looking to grow their business through our high-value, loyal customer base.
Here’s how we got to understand our shoppers more deeply and how what we learnt could help your business grow.
We understand how our shoppers think and feel
Getting to understand our shoppers better started with a robust piece of quantitative research with current shoppers and people that had never heard of Cashrewards. This gave us a baseline view of attitudes, behaviours, likes and dislikes at scale, and allowed us to begin to form a view on how our shopper personas might come together.
Taking this baseline, we then used qualitative interviews to dive deeper into motivators and experiences - providing the additional context needed to bring our personas to life.
Having landed on our personas, we then validated them with the people who know our shoppers best, those who spend the most time interacting with them including our member services team and online community representatives. All of this painted a picture of what these shoppers thought about us, the brands we partner with and the products they bought.
Taking such a thorough approach to develop our shopper personas and identify the insights that came out of this process means everything to our business, and could also have a substantial impact on yours.
We know how our shoppers behave
But like most human beings we know what a customer says and what they do can often be incongruent. So we took what we learnt from our conversations with shoppers and further substantiated them with third party and media data from sources such as Roy Morgan, plus our own channel analytics to map their behaviour.
This gave us a clear understanding of three main types of data:
- Demographic data - that’s their age, affluence, employment status, where they live, who they live with - to get an understanding of skews for each of our personas.
- Channel data - helps to understand how they like to receive communications from us - do they open our emails or do they prefer to get information from our Instagram?
- Transactional data - shows us what brands they shop with, how much they spend and where.
- Psychographic data - What they value, their interest and inclinations, what they enjoy spending their money on as well as their own perceived spending habits.
Combining this quantitative information and overlaying it with the qualitative information from Cashrewards shopper and general consumer conversations, we were able to determine a clear understanding of both their needs and their wants.
We understand our shoppers’ potential
By going through this process we realised that our shoppers and potential shoppers fall into six main personas.
Over time, we have socialised these personas across our business - they are part of everything that we do.
So much so that if you take a walk through our office you’ll see cut-outs, if you jump on a video call - they’re visible on our backgrounds, they’re even a foundational part of our new employee inductions.
These shoppers aren’t just a part of our business - they are our business.
Together, these six personas demonstrate the potential market size of our business and the impact these shoppers could have on our retail partners. It’s exciting stuff!
Find out what our shoppers think about you
We know our shoppers so well, we even know what they’ll think about you and your category.
For more information on how we can partner with your brand, get in touch today.
Cashrewards collects data aligned with our privacy policy. You can view our privacy policy here.