psychographic strategy example

A person will have a rich personality only if he has high buying power as well as the taste in clothes to maintain such a lifestyle. Your typical target buyer persona demographics may look like this: Male. Psychographics work by aggregating data on an individual's activities, interests, and opinions (AIO). For example, demographic segmentation would target simply women ages 35 to 45 living with a moderate income in a suburban area. 1. Personality Personality traits infographic Personality describes the collection of traits that someone consistently exhibits over time. Simple. To sum up, psychographic marketing can help you elevate and enhance your digital marketing strategy by giving you a complete picture of who your customers . When you think of vehicles like the Volkswagen Polo, you probably think of words like "robust," "hatchback," and "affordable.". Targeting those interested in outdoor activities for a line of rugged flannel shirts. For this psychographic audience to be interested in buying a cosmetic product, it must not have been tested on animals or be linked to animal cruelty in order for it to adhere to this standard. Most of the time, psychographic segments are based on preferences and interests. There are examples of psychographic marketing all around us. Psychographic segmentation: Bottom line. With this information, marketers can better communicate with their target audience. Apart from dividing the market based on psychographics, the brand should also use these factors to connect with their audience. Together with football (soccer) it is one of the cheapest Sports to play. A customized customer experience leads to . Social Status, or the crossover between demographics and lifestyle. Psychographic data is integral to marketing strategies and product development. 2. When you combine both of these elements, you get a detailed picture of who your ideal . Psychographic types . With the right psychographic questions, here's an example of the characteristics you can gather from your audience: Personality : Question: How would you describe yourself? Brand Experience. Psychographics example. Lifestyle. . Behavioral segmentation - grouping customers based on their past actions, like spending habits, browsing habits, and . Psychographics, when used in marketing efforts, aims to find the values and emotions that motivate a prospective client to acquire a certain commodity or service. Lifestyle is a psychographic example businesses use to categorise people by their attitudes and interests, helping marketers understand which groups are likely to buy their products or services. 2. multiple products and multiple market segments. Implementing the Strategy. In an age where everyone around you is screaming "customer-centricity" and "personalization", psychographic . I like to challenge and push myself to be the best I can be in life. Coca-Cola might have originated from the United States, but it has expanded its brand to various countries across the globe over the years. This is the biggest and most obvious benefit to well-implemented market segmentation. While demographics help to explain who your target customers are, psychographic data explains the "why". Using this segmentation, companies target different messages to . Surveys. This can mean the area where they live, the people they associate themselves with, what their hobbies are and other . Segmenting consumers into these subgroups based on conscious and . Besides, Coca Cola is considered a great example of psychographic segmentation. Psychographic segmentation advantages. For example, trainers - some people want them for marathon training, others for walking to work, casual wear or as a fashion statement. Psychographic segmentation divides potential consumers based on their interests, personalities, lifestyles, activities, and other similar factors. By better recognizing the needs of your customers, you can identify more effective tactics for reaching them and improving their interactions and experience with your business. Psychographic Segmentation 101: What It Is & How to Use It. Wikipedia defines psychographics as " Psychographics is the study of personality, values, opinions, attitudes, interests, and lifestyles. Coca-Cola's market segmentation focuses on four various elements, namely geographic, demographic, psychographic, and behavioral. 3. This equals effective marketing, successful business decisions, and product development that appeals to your consumers. For example, if women of working age were more likely to buy pantyhose, creating ads that spoke to them helped drive more purchases. How to Use Psychographics in Your Marketing. Psychographics bridge the gap between consumer psychology and data, taking your behavioral data to the next level of insight. Psychographic data lets us create extremely personalised messages and content, as well as facilitating smarter keyword . a framework to relate the market segments of potential buyers to products offered or potential marketing actions. 1. Personality in psychographic segmentation is dependent on both - lifestyle as well as social class. For example, demographic information might tell you something about a person's age, but psychographic information will tell you that the person is just starting a family and is in the market for baby products. Examples of psychographic segmentation include: Targeting high-earning, upper-crust individuals for luxury items like handbags or customized automobiles. Marketing a product requires a deep understanding of the . Psychographics is the study of people's lifestyles, attitudes, interests, beliefs, emotions, values, and aspirations. 5 Examples of Psychographic Characteristics. mass customization. I find that I'm easily swayed by other people's opinions. The exciting factor of Psychographics includes hobbies, pastimes, and media consumption habits of a customer. The colors used in the hexagons are attractive. Don Marler, founder of family-owned street food truck best known for its mouthwatering cheesesteak sandwiches, generated more revenue after using geographic segmentation in conjunction with omnichannel marketing . Lifestyle. Top content on Examples, Psychographic and Strategy as selected by the B2B Marketing Zone community. 1. Lifestyle, or how people live. The organic food industry is one of the fastest-growing industries that focuses on a specific target audience. Examples of Psychographic Segmentation in Marketing . You can see in the personal profile that this is a range, not an absolute. In this post we dive deep into Psychographic Segmentation and the nuances of using it to understand your customers while delivering better products. 2. It will help you to illustrate the segmentation process in a clear and concise manner. Sample answers: I'm a risk-taker. In the same vein, quantitative demographic data tells you who your customer is, while psychographics explains why a . . Purpose. Attitudes, beliefs, or customer perceptions . To play basketball and enjoy it, you need 2 things: Be relatively young. Psychographic profiling is used by marketers and psychologists to determine a person's psychological behaviors and motivations. For Example: An online beauty website may discover that a substantial proportion of its users also prefer to seek recommendations for makeup products. Psychographic segmentation provides valuable insights into consumer motivations. Simply put, psychographic data is information that allows you to divide your market based on attitudes, interests, activities, and personality traits. Peeling back the layers of their complex inner workings to analyze and understand the individual behind the shopper. In marketing-speak, 'AIO' is a catch-all for psychographic measurements. Text Analytics. The Volkswagen group is an excellent example of how market segmentation allows a brand to appeal to very different groups of people. The boutique manager sends discount codes and sales alerts through texts rather than mail and boosts profits. Select your respondents. Psychographic Marketing: An E-Commerce Example. Social Media. Joseph Chris Partners into the following subcategories: Psychographic segmentation variables. They created Diet Coke for those who are health conscious, offered a number of energy drinks for those who need energy particularly in sport, and also provided Real Gold for busy people in offices. 1. one product and multiple market segments. Here are a few ways to collect and analyze psychographic data: Focus Groups. A person's lifestyle generally refers to their everyday activities. This way, your communication strategy gets refined and you are likely to convert more people into customers. Personality. Psychographic segmentation is a proactive marketing strategy that includes categorizing the target audience based on their activities, interests, opinions, personality, and lifestyle. You could have a psychographic segment like the women who are interested in sports, mentioned above. +1(212) 991-5633; . For example, a large majority of Generation Z teenagers from developed countries are active online and up to date both with pop-cultural and socio-political events. Enjoys having multiple payment options for online purchases. In a way, psychographics allows you to bridge the gap between all these individual datasets. . Marketers use both demographics and psychographics in their market research to create their marketing strategy. For example, if you're promoting a B2B SaaS solution, your specific audience may be made up of men and women ages 35-49 who earn more than $100,000 annually. 3. Example broad market products may include over-the-counter medicines that solve specific ailments such as headaches, some clothing products, children's toys, etc. At Foundr, we believe that customer interviews are one of the best things you can do for your marketing strategy and essentially, for your business. Creates better understanding of the consumers. At the most basic level, psychographics is the attempt to describe complicated psychological characteristics in simple terms that can be useful for everything from marketing strategy to government policy making. A definition. Such insights are often based on both demographic and behavioral data points, and businesses use those insights to create specific audience segments. It uncovers unseen motivations and attitudes behind buyer decisions. TriHealth's health . Interviews. Wikipedia defines psychographics as "a qualitative methodology used to describe traits of humans on psychological attributes." Be 2 meters tall. Types of psychographic segmentation variables. These factors are then analyzed to predict how you, the customer, will respond to focused marketing campaigns. Understanding your customers on an emotional level is one of the keys . Psychographic segmentation capitalizes on this by dividing customers based on psychological factors, which include behaviors, personalities, lifestyles, and beliefs. . Here some psychographics examples worth considering: The Big Five Personality Traits / The OCEAN Model This information can come from analyzing five key psychographic segmentation variables. The following are common types of psychographics with examples of each. You can play it anywhere providing you have a "basket". Consider these six examples of psychographic characteristics that can be assessed and used in marketing campaigns: 1. They use archetypes or a combination of archetypes in their branding and communication. Psychographic segmentation is a segmentation method in which the total market is divided into multiple homogenous groups on the basis of parameters or variables like psychology, beliefs, values, personality, characteristics, lifestyle, attitudes, reasons etc. For example, if the business has a product . Psychographic segmentation - grouping customers based on their personalities and interests, including beliefs, hobbies, and life goals. Geographic segmentation - grouping customers with regards to their physical location. Marketers refer to these psychographic segmentation variables as personality, lifestyle, social class, attitudes and AIO (activities, interests and opinions). Wants to be seen as fashionable and on-trend. Psychographics examples are instances of a kind of market segmentation in which you can classify individuals to their psychological characteristics that affect their purchasing behaviour. Psychographic segmentation, or behavioral segmentation, is a method of dividing markets on the bases of the psychology and lifestyle habits of customers. It is the marketers and the sellers of products and commodities who use this technique in order to decide their marketing strategy. There are five main psychographic variables that marketers use to understand their target audience. Demographic segmentation is a great place to start, as it divides your market into broad strokes, but psychographics gives marketers greater leverage in influencing conversions. You can use each of these psychometric . 5) Personality Psychographic Segmentation. Ideal . It includes six hexagons with icons representing values, activity, behavior, interest, attitude, and opinion. Here's a list of specific psychographics examples businesses often use in market segmentation: 1. Brand extension strategies to propel your brand forward 11 min read. Measuring psychographic attributes gives marketers insight into consumer motivations and the ability to go beyond "who" to dig deeper into "why.". Here's a look at each of them, complete with examples of services or products that use psychographic segmentation. The Psychographic Segmentation Examples PowerPoint Template is a multicolor six noded template. How to Gather Psychographic Data. Let's learn about psychographic segmentation and look at different psychographic segmentation examples to help you plan your marketing strategies. Here are some other examples of demographics and psychographics in marketing: A small boutique surveys their customers and finds that most of them prefer texting to mail. Examples of psychographic factors include (but are not limited to): Values Interests Attitudes Lifestyle Personality type Social class As you can see, when it comes to content creation (and any conversion-focused online discipline), psychographics have a greater impact than demographics. More effective marketing. Later on, psychographics provided the intersection of demographics and interest helping marketers understand how interests or attitudes expressed online might impact consumer opinion and purchase decision. Reveals hidden attitudes. Let's consider a jewelry brand that deals with customized accessories. A market segmentation strategy organizes your customer or business base along demographic, geographic, behavioral, or psychographic linesor a combination of them. Psychographic segmentation helps to build a more holistic picture of consumers when used in conjunction with other forms of market segmentation. Here's an example of a basic psychographic profile for a customer of an ecommerce fashion retailer: Likes to shop online. Here are the advantages of psychographic . but how do you categorize characteristics? The psychographic segmentation model used by PatientBond was developed by healthcare consumer experts from Procter & Gamble. For example, if a company sells clothing and learns that its customers are passionate about sports, it can market athletic wear. When segmenting by personality, you must consider factors such as their beliefs, morals, motivations, and overall outlook on life. 1. Google Analytics. Psychographic segmentation helps identify people based on the way they think & the kind of life they want to live in terms of lifestyle . Gain insightful information about your target audience using psychographic segmentation to help your company better reach consumers. 3. segments of one, or mass customization. Psychographic segmentation is a method used to group prospective, current or previous customers with shared similar characteristics. Give examples of ways to use the strategies Describe family life cycle segmentation and understand different ways to market to tweens, Baby Boomers and Generation X Define the 80/20 Principle Customer interviews are just . The primary segmentation criteria Starbucks uses is psychographic segmentation. 1. Example: one personality trait that is . Market segmentation is an organizational strategy used to break down a target market audience into smaller, more manageable groups. Don Marler's Food Cart. ". It may sound complicated, but with the segmentation examples above, youll have a better understanding of how and why customers use this type of segmentation every single day. Combining these insights with other customer data can reveal powerful opportunities to market the same product or service to . Here are a few successful customer segmentation examples that enable valuable customer interactions. Psychographics include personal interests, attitudes, values, desires and specific behaviors. Niche products solve problems and provide value to a narrowly defined audience. Thus the term " Brand personality " came into effect. Examples of psychographic data and how to use it include: Interests Audience interests refer to how consumers spend their time, including sports, hobbies, and entertainment. Personality describes the collection of traits that someone consistently exhibits over time, as commonly assessed through a 5-Factor Model. A prime example of the benefits of market segmentation in the healthcare industry can be seen in a recent case study by Advisory Board, in which TriHealth Corporate Health, a Cincinnati-based integrated delivery system, partnered with PatientBond to develop a psychographic segmentation strategy with its health coaches. 3 specific segmentation strategies. Here are five examples of psychographic characteristics that researchers commonly study (and can give you useful insights about potential customers): 1. These variables include, but aren't limited to: Personality traits like self-discipline, extroverts, openness. These characteristics may include: These shared attributes may be observable or not. Because this area of research focuses on interests, attitudes, and opinions, psychographic factors are also called IAO variables. Demographic data serves the purpose of grouping a population with external factors like age, gender, race and income level. 1. market-product grid. An example of this type of psychographic is of those who are staunchly against animal testing. Explore the conceptual framework of psychographic segmentation in marketing and learn how it is utilized through a variety of examples. Let's say an eco-friendly clothing company is looking to create a basic customer persona to encapsulate their collective audience as a whole. Personalities. Affinities could also be toward actual goods, like luxury cars, or toward a certain brand. Sees clothing as a form of creative self-expression. With psychographic data, Apple can communicate luxury, minimalism, and class to its target audience and also create marketing strategies for the different psychographic segments. Large brands are well known for their psychographic marketing efforts, bohemoths such as Apple, Ikea, Dove or Audi, they all leverage psychographics to better appeal to their target audience. Think about these 2 Sports: Golf and Basketball. So, we know how to segment demographically (age, location, income, etc.) It provides insights you can use to make informed business decisions that ultimately affect your connection with your target market. Behavioural Data. These are more like inclinations and affinities that occupy someone's time. Example: one personality trait that is part of the 5-Factor Model is extroversion. Examples of Psychometric Variables 1. Psychographic segmentation is the smartest way for companies to stand out and identify the critical needs of customers. 6 psychographics examples. Whilst psychographic data focuses on human attributes such as values, motivation and priorities. 3. This information adds detail to buyer personas that guide brand positioning, product . The rationale behind this marketing strategy is that demographic is a blunt instrument that can be sharpened by understanding different personality traits. Targeting early tech adopters for a new line of phones or tablets. What Is Psychographic Segmentation (5 Variables + Examples) Savvy marketers use psychographic segmentation as a marketing strategy to figure out exactly what shoppers are thinking. It is an important exercise for businesses that want to get better. For example, brands may run marketing campaigns that are enriched with psychographic information to drive sales of a specific product, support a cause or change votes. This kind of market segmentation is done to cater to consumers with similar likes and needs and offer them something they value. Volkswagen. When defining and targeting an audience, demographics will only get you so far. Psychographic segmentation breaks down your customer groups into segments that influence buying behaviors, . An example of psychographic variables Let's say that you're trying to sell a new brand of car to your target customers. This example can be extended to other markets as well. The model is 91.1% accurate at identifying a consumer's psychographic profile, and each segment has its own unique approaches to health and wellness, motivations for behavior change and communication preferences. Psychographic segmentation is the research methodology used for studying consumers using psychological characteristics including personality, . 5 Psychographic Segmentation Examples to Guide Your Online Marketing Strategies Segmentation is an important component of organizing and managing your customer database. Psychographics is the practice of using how people think as a criteria for identifying a target market or target audience.This can be used to tailor marketing efforts such as product development, promotion, pricing, customer experience and sales. Here is again where psychographic segmentation can play a major role. Prefers using their mobile device to shop online. This article will guide you through psychographic segmentation, its advantages, variables, and examples. What makes them tick. The company's geographic segmentation aims to drive the market into different . This is an example of affinity-based segmentation. The definition of psychographics is a method of market segmentation that involves sorting consumers into groups based on shared psychological characteristics, such as personality traits, values . Psychographics allows you to uncover lots of hidden elements about your customers and explore different dimensions that define engagement and buying patterns. Updated: 09/17/2021 Create an account It gives us a peek at the needs, wants and values of users. The main group Starbucks advertises for is the "serious coffee drinker" or someone who prefers an upscale market coffee. The company targets customers based on their lifestyle choices, and attitudes concerning 'fairtrade' food (Yu & Fang, 2009, p. 1273-1285). Niche Markets Niche marketing focuses on a very specific segment or sub-segment of the market. 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Framework to relate the market segments of potential buyers to products offered or marketing Are also called IAO variables requires a deep understanding of the 5-Factor Model s activities interests Help you plan your marketing strategies personality personality traits like self-discipline, extroverts, openness food is Play it anywhere providing you have a psychographic segment like the women who are interested in outdoor activities a That marketers use to understand their target audience the market based on conscious and also IAO! More manageable groups What is psychographic segmentation consider a jewelry brand that deals with customized accessories that guide brand,. ( soccer ) it is one of the 5-Factor Model is extroversion, the Is part of the fastest-growing industries that focuses on a very specific segment or sub-segment of the cheapest Sports play. 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