In 2015 we heard a lot about Millennials and the millennial buying power. Marketers called them “enigmatic” and questioned their brand loyalty, yet almost every brand was actively trying to appeal to this demographic. And perhaps that was the problem: instead of looking at demographics alone, marketers should be digging deeper to uncover key psychographics about their consumers: persona based marketing While demographics explain who your customer is, psychographics explain why they buy. Combining basic buyer and demographic data with richer psychographic information helps brands generate a comprehensive profile of their consumers and offer a detailed view of their buying habits and lifestyle preferences. This results in deeper, data-driven insights and enables marketers to more effectively speak to consumers.
How do you build a psychographic profile of your consumer? Below we offer tips on gathering and interpreting your psychographic data.
Collecting the Data
Psychographic data refers to personality, interests, opinions, lifestyle/behavior, attitudes, and values. Marketers often have this information at their fingertips and may not even realize it! Comments on your brand website, responses to email campaigns, product reviews, and social media interactions all provide insight on what is important to consumers. Beyond that, brands can also go deeper by asking customers to complete surveys or hosting focus groups, analyzing sales and credit card data, or using beacon technology to monitor consumer behavior at retail.
Creating Your Buyer Personas
With the insights generated from their data, marketers can create distinct and meaningful customer segments that can be used to model consumer personas. These models will provide an actionable understanding of your marketing targets and allow you to hone your marketing strategy in ways that will more accurately target each buyer persona with relevant content and products.
Turning Insights into Action
With a deeper understanding of your customer’s lifestyle and priorities, brands will be able to:
- Create and more effectively target advertising
- Build an authentic connection with consumers
- Generate relatable content that inspires your consumer
- Amplify through social sharing with like-minded consumers
- Develop products that meet their wants and needs
A robust analysis of psychographic data will ultimately help your brand to cut through the noise by accurately reflecting the interests and motivations of your consumer. At Women’s Marketing, we believe buyer personas are invaluable to brands. Our media strategy includes analyzing both demographics and psychographics to develop targeted media plans for our clients. Learn how we can use our deep insights to your brand and how to market to women when and where they’re most receptive to your message.
Sources: Buyer Persona Institute, HubSpot Create Buyer Personas for Your Business, Shopify How to Build Better Buyer Personas for Better Marketingtarget