Helen & Rob Turley
October 17, 2020
Psychographics is defined as the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.
The basic psychographic characteristics include: personalities, lifestyles, interests, opinions, attitudes, beliefs, and values. They tell you why people are interested in your products or services.
Using demographic and psychographic data and insights helps refine your sales process and save money. It’s a form of extreme accuracy and efficiency.
Psychographics tell you why people are interested in your products and demographics help inform your sales strategy for attracting new customers, helping pinpoint who is buying and why, at a granular level--nearly nanoscopic. It makes your sales process more efficient, cutting out leads that would never buy from you and will also help you hold on to your customers.
The reason for the slow uptake of psychographics among marketers is that they are difficult to find, and nearly impossible to measure, taking time, effort, research, and surveys that don’t produce pie charts and graphics. That is, until now with White Rabbit Intel’s AI.
Psychographics consist of an individual's actions, morals, beliefs, and values that equate to their psychological thought processes, decisions, and can accurately measure future actions based on “who” they are and “why” they do things. To put it simply, it’s measuring the “self” based on actions, choices, and core beliefs/realities.
AI is very good at looking at massive quantities of data and looking at trillions upon trillions of patterns to determine, decipher, and add logic to data. Unsupervised machine learning and deep learning is what is needed to quantify qualitative data, and that is the magic behind processing psychographic intel with AI, because humans lack the ability to do so. It’s just too much and too hard to understand.
In this business climate, you need to understand which companies are currently prioritizing investments for solutions in your category. You need to know which personas are the influencers during this time of economic downturn and why. Also, you need to clarify your message and content that the target personas must know and experience before they trust you.
Psychographics are powerful, game changing, and remarkable in the depth of understanding it conveys about potential and current customers, as well as ability to predict the unpredictable.