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The term “Maturialism” keeps popping up in various articles and blogs that I subscribe to on a regular basis. According to one source, it’s short for “mature materialism” a trend revolving around consumers’ increasing receptiveness to products, services and advertising campaigns which are edgy, controversial and push social boundaries.
Another source describes it as a desire by adults to move beyond the “dumbed-down” teen/tween culture that dominates everyday life to pursue a higher quality of products and services.
Even in today’s struggling economy, we see this need for owning the top-of-the line products. But it’s not all that different from days past. When I was growing up, we called this “Keeping up with the Jones”; the neighbors buy a new car or toy, and everyone else had to go out and get one. What sets “maturialism” apart is that consumers are using more discretion when making larger purchases. They are looking for quality and value rather than buying just because someone else does. They don’t want what everyone else has. They want exclusive, high-end products and are attracted to them by edgier marketing and advertising campaigns that tout exclusivity. They are making educated (translate to “mature”) purchases.
Examples of Maturialism are all around us. People trade their simple manual toothbrush for a high end electronic tooth brush costing 100% as much. Folks are mesmerized and lured in by by edgy advertising campaigns for an iPhone, Blackberry or Droid and all their bells and whistles. Maturialism is the reason that Starbucks can sell coffee at $50 per gallon when those same people complain about paying $3.00 for a gallon of gasoline. And millions of people are attracted to Las Vegas each year because “What happens in Vegas, stays in Vegas”.
So, then, how does a smaller business capitalize on that growing market of “maturialistics”?
First, they need to be in touch with understanding their customers’ needs and wants. Look at what their customers are buying from them and what they are buying from competitors. The need to ask their customers, “What do you wish we offered that we currently don’t?”
Second, they need to take that information and come up with a high—end, exclusive product line or service for their “valued” clients.
Finally, they need to market it as “exclusive” or “only for our valued customers”. And they need that marketing to reflect the “specialness” of acquiring that product or service. Post purchase, that marketing message validates and serves as proof to their inner circle of friends, family, neighbors and co-workers that they bought the best product or service available.
If you’ve ever been to Chinatown in New York City, you’ll know what I mean when I talk about “the back room”. There hundreds of small shops selling brand-name knock-offs of everything from clothing and electronics to purses and perfumes. The average tourist may pay regular price for lower-end product. But those people “in-the-know” will ask to go the “back room”, usually accessed through a hidden door and walking down a very dark and narrow hallway or set of stairs. In these tiny, concealed rooms, you’ll find “special” products that aren’t for sale in the regular store front. The lure is that it’s “exclusive” and not everyone knows about the secret back room.
In my business, I offer a high-end marketing product that normal customers don’t know about. My Marketing PowerAuditTM is a product/process that I unveil after I learn that a prospective customer is frustrated with how poorly past marketing efforts have performed and when I have a better understanding of how much time and money they are willing to spend to get their marketing back on track. It’s expensive, time-consuming, intense and only available to those businesses that genuinely want to invest in marketing.
Tapping into the maturialism consumer trend is going to become increasingly important for all businesses, big or small, that want to grow. People are bored with the same old products and services. They seek new, unique and cutting edge and willing to pay for those features and benefits. They don’t want to keep up with the Jones’, they want to be the Jones’. What do you have to offer?
