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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.
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 its 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 with 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.
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 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 at 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 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 the convenience, social class, and lifestyle of its consumers.
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.
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.
Psychographic segmentation tools:
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, Facebook will give you insights of the interests and lifestyle of your audience. .
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 are also a good way to get psychographic data, but sometimes might not be so effective.
Having one-on-one conversations with a consumer is another way to get deeper insights into how these people think and act.