Psychographic segmentation is an important aspect of marketing. It gives you deeper insights into your consumers and the choices they make.
This article will provide you with all you need to know on this topic. So, let’s dive in.
Psychographic segmentation
Basically, we have several types of market segmentation, and psychographic segmentation is one of them.
Psychographic segmentation is the type of market segmentation that separates consumers into sub-groups based on their psychological characteristics. These sub-groups include beliefs, priorities, interests, etc. As a result of this, we are able to explain and predict consumer behavior.
Furthermore, this market study helps you understand your consumers well, and find out the reasons they buy.
However, many people think that you can get a better understanding of your consumers just by studying their demographics. But, I daresay that it’s important you do proper research and add common psychographic characteristics for additional clarification.
A very good example would be a company that sells fishing gear. It runs a quick psychographic check on its prospects and notices this prospective buyer is an introvert. This will give the company a better understanding of the consumer. With that information, it will choose to display ads that reflect people fishing alone that exhibits solitude and peace.
Clearly, this would relate better to this prospect.
On the flipside, Behavioral and Psychographic segmentation may seem alike, but they are not.
So, let’s explore the difference between the both of them.
Read Also: Market Segmentation: All you need to know with Examples
Behavioral and Psychographic segmentation
Psychographic segmentation is simply dividing a market into related consumers based on their lifestyles, values, interests, and personality characteristics.
It is the time invested into understanding how the person lives, thinks, and feels.
Furthermore, Psychographic segmentation tries to uncover what is important to a consumer and what drives them to act in certain ways.
On the other hand, behavioral segmentation does not refer to the behavior of a person. It rather refers to the measurable actions of a consumer in the marketplace.
Also, it reflects how the consumers interact and engage with the products of a company.
The variables used in behavioral segmentation include Attitude towards brands, brand loyalty, etc.
Psychographic segmentation advantages
There are so many benefits attached to using psychographic data. They include:
- Psychographic Segmentation reveals greater insights into the reasons behind buyers’ decisions. uncovers unseen motivations and attitudes behind buyers’ decisions.
- It helps marketers adjust their product features and messaging to better fit their target audience.
- It creates a better understanding of the consumer.
Conversely, Over the years, some brands have used psychographic data to their advantage. Let’s take a look at some of these brands:
Psychographic segmentation examples:
McDonald’s
McDonald’s is one of the fastest-rising restaurants in the US.
It is one of the biggest examples of brands practicing psychographic marketing.
McDonald’s has adapted itself according to its consumers’ convenience, social class, and lifestyle.
An outstanding example was the case of a country that had a huge vegetarian population. They came up with new product lines to blend in. These included items like Mc Veggie Burger and so on.
Starbucks
This brand is a major coffee retailer that focuses on a variety of brands of blended coffee and ice beverages.
The brand has adopted several marketing strategies to gain and retain customer loyalty. One of the key marketing strategies used is psychographic segmentation.
Furthermore, this company targets customers based on lifestyle choices and attitudes.
But this article wouldn’t be complete if we don’t mention some tools used to get psychographic data.
Market Segmentation: All you need to know about
Psychographic segmentation tools:
Google Analytics
This is a free and detailed online guide. Google Analytics gives you access to some broad psychographics of your website visitors.
You can use the insights gotten from here to find out the interests of your audience.
Every social media platform that offers advertising services will provide psychographic details.
Platforms like Twitter, and Facebook will give you insights of the interests and lifestyles of your audience.
Website data
Another option is to run experiments on your website. You can run various experiments to test what your visitors respond to regarding copy, product characteristics, et al.
Surveys
Surveys are also a good way to get psychographic data, but sometimes might not be so effective.
Interviews
Having one-on-one conversations with a consumer is another way to get deeper insights into how these people think and act.
What is the difference between demographic segmentation vs psychographic segmentation?
Psychographic segmentation contrasts with demographic segmentation, which categorizes potential audiences based on a specific trait (such as gender, age, or income).
Market researchers utilize psychographic traits to assist in the development and positioning of their products and marketing strategies for various target groups.
In market research, marketers utilize both demographics and psychographics to develop their marketing plan. This information provides specificity to buyer personas, which govern brand orientation, product development, and marketing communications.
How can you use psychographic segments for your target audience?
Buyer personas are an example of a sort of psychographic segmentation. A buyer persona is a fictitious profile of a possible consumer that may contain their job title or function, their personal preferences, their obstacles, and lifestyle factors.
The buyer persona encompasses both the facts and the motivations behind buyer behavior. Buyer personas are the initial step in comprehending your prospective customers’ journey, or the stages they take prior to, during, and after the purchase of your product.
You can also build various marketing strategies, services, experiences, and even product offerings for each of your segments using psychographic research.
It is typical practice, for instance, to provide the same product or service with less features to price-conscious customers. Customers who do not care about pricing but prefer additional features might purchase the same product at a higher price with more features.
Some of your clients may prioritize convenience, while others will prioritize customer service. By dividing them into segments, you may tailor your marketing and services to their motives.
What is a psychographic in marketing?
Psychographics are the cognitive and psychological characteristics of a consumer that indicate their views, values, and objectives.
What are psychographic factors?
Personality traits, beliefs, attitudes, socioeconomic class, values, lifestyle, and interests are examples of these internal qualities.
What are 3 types of psychographics?
The primary psychographic categories are interests, actions, and opinions.
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