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Psychographics

Psychographics. Imagine you work on a marketing team…. What would you want to know about your customers/audience to best target them? Ex: If you were trying to sell LuluLemon… Beats by Dre…Toms…. Psychographics VS Demographics.

brendan-simpson
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Psychographics

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  1. Psychographics

  2. Imagine you work on a marketing team… What would you want to know about your customers/audience to best target them? Ex: If you were trying to sell LuluLemon… Beats by Dre…Toms…

  3. Psychographics VS Demographics Demographic = A group of people identified by a specific trait or characteristic (age, gender, education, income) Psychographics = Individual traits relating to values, personality, interests, attitudes and lifestyles. • Also called IAO variables (Interests, Activities, Opinions) WHO buys vs. WHY they buy

  4. Psychographics VS Demographics “Demographics have defined the target consumer for more than half a century – poorly.” Why? What do psychographics offer than demographics do not?

  5. HISTORY • Rise of mass-produced consumer goods  rise of mass-market advertising. • In the 1950s and 1960s, consumers had to buy the idea that they were just like everyone else. • Marketers created that buy-in by bucketing people into generations. When you lump 78 million people into one group called “Baby Boomers,” it’s much easier to sell them stuff, especially when consumers accepted their generational classification.

  6. HISTORY • 1970s  Perception among advertisers that people were becoming too conscious of the techniques used in advertising to manipulate them. • Psychographics: A new method of measuring how to motivate people (to buy).

  7. A Broken-Down System The year that someone was born will not tell you how likely he/she is to buy your product. • Fragmentation is now the norm because the pace of change is accelerating. • Generations have been getting smaller because there are fewer unifying characteristics of young people today than ever before:

  8. Influence of the Social Web People self-select into groups so small, so fragmented, that no overarching top-down approach could be successful at driving marketing performance. We are all very diverse 

  9. Social Profile Data • Profile data from social networks “The level of nuance and insight provided by social data, when compared to standard demographics, is the difference between performing surgery with a scalpel or a butter knife. “ Companies (ex: GraphEffect) are measuring purchase intent by analyzing Facebook status updates. What kind of information could we collect about each other on FB?

  10. Behavioral Data • Ads that follow users around the web • Some companies offer the ability to personalize information to specific visitors based on their behavior. “If you like this book…you might like…”

  11. www.visualdna.com “Our data includes real-time behavioural tracking, past behaviour mapping, groups based on interests, tastes and lifestyle, psychographic & attitudinal profiling, demographics and financial and credit modeling.” What does this data NOT include?

  12. Psychographic Profiles VALS – Values and Life-Styles • A method of grouping people… You be the judge. Is this an effective marketing strategy?

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