PYSCHOGRAPHICS & SOCIAL MEDIA MARKETING

This article is about psychographics and social media marketing in Nigeria and how to effectively use Social Media to scale your business and increase profit. We will be looking at things from the psychographic and demographic perspectives.


SOCIAL MEDIA

When we train the marketing guys of our growing list of corporate clients, we often ask them the question: “What is social media?”

We get the most amazing answers and some of them a very funny and we all have a good time laughing but the underlying truth revealed is that most of us have no idea what social media REALLY is.

The simplest definition of social media I can think of right now is that Social media is a tool.

It is the various channels or platforms online that allow you to be social.

Human beings are social beings. It is from our social relationships that we form that every other thing in our lives comes to be – business, love, family, associations, you name it. It is powerful how with social media, you can bypass all protocol and gate-keepers and connect directly with the decision maker. By using psychographics and social media marketing, you will be able to scale your business. FANTASTIC!

Demographics

Demographics are a statistical view of a population with regards to race, age, gender, income, schooling, occupation etc.

When you understand the demographics of your target market, you have made a critical step to a successful business. This will help you to decide exactly what your product and services mixes will have and what your pricing, packaging, promotion and place will be.

Here is how demographics will affect your business decisions.

Assuming you want to evaluate the Lekki Phase 1 community to identify the best site for your business, you will need to know the demographic profile of your prospective customers. In the quest to find out if Lekki Phase 1 offers a market with the demographics needed for your business to boom, you have to consider Lekki Phase 1 community’s:

  • Race. Red or Yellow? Black or White?
  • Age. Are there the retired, young people near their earning years, or middle-aged professionals?
  • Sex. Are there more men than women?
  • Ability to Buy (or Purchasing power) shown by the degree of disposable income within the axis.
  • Houses. Are they rented or owned?
  • Transportation. Do the residents of Lekki Phase 1 own vehicles, use cabs, join buses or bicycles?
  • Family Status. Are many families in the area or more of singles?
  • Recreational activities. What recreational activities do people in the community participate in?

If you are serious about your business, you probably know some in depth information about who buys from you like their sex, geographic location, marital status etc. These make up their demographics and they help you in forming your marketing strategy because you have a clearer image of who your clients are.

But this is NOT ENOUGH!

Psycho-what?

Courtesy: Formilla.com

 

Psychographics are the psychological attributes of buyers. It has been applied to the study of personality, values, opinions, attitudes, beliefs, interests, and lifestyles.[1]

Psychographic methods became quite prominent during the United States presidential election, 2016 because it was used to microtarget advertisements to narrow constituencies by Cambridge Analytica.

Combining psychographics and social media marketing are a deeper, more meaningful form of marketing because you really understand your client.

  • Do you know what their lifestyles are like?
  • Do you know what are their daily habits or hobbies?
  • Do you know their values?
  • Do you know their opinions?

When you can answers to these questions, then you have entered in to the deeper realm of psychographics – the psychographics of your clientele base.

If you do not know these already, keep reading and by the end you will know enough to have a basic understanding of who’s buying what you have to offer.

If we need to explain them to a 5-year old, we’ll tell a story.

Once upon a time, two friends were invited to a party. When they got to the there, they were asked to talk about themselves by Pogo the clown.

The first said, “Hello, my name is Demographics and I tell people “who” their buyers are!”

All the kids at the party clapped because they all knew who Demographics is. He was quite famous.

Next, it was the turn of the other friend.

Shyly, she steps out and says, “Hello everybody, I am Psychographics and If you ask me, I will tell you “why” people do what they do (in this case, why they buy or will buy from you).

All the children’s eyes were wide open and they said “WOW!” in amazement. They all wanted to know why they do what they do!

So they gathered around Psychographics and started asking her about they behaviours including Pogo the Clown and they all had fun at the party.

 

Remember, your audience’s demographics are the information about their race, age, marital status, sex, income, place of work, job titles etc

Their psychographics are their buying habits, spending habits, values, beliefs, opinions and attitudes.

Knowing how to use psychographics and social media marketing is priceless when you have to create a suitable marketing strategy.

Once you have a grasp of these information about your target market, you can now offer them solutions in form of products or services. The offering is positioned in the minds of the target buyers as delivering some central benefit(s).

You can only effectively reach your target audience when you understand both their demographics and psychographics. The combination of both sets of data starts to form your buyer’s personality – a detailed picture of the people you work with now, and would like to work with in the future.

Let me draft a basic buyer’s personality based upon what I know about an imaginary ideal customer of a luxury real estate firm.

Demographic Details:

  • Male
  • Aged 35-75
  • Married
  • Parent (with children or grandchildren)
  • Household income N15M+ p.a.
  • Interested in real estate, investment and passive income

Psychographic Details:

  • Finds fulfilment in his career and family
  • Values time with a small group of friends
  • Plays golf
  • Deep Interest in quality real estate but doesn’t have much time
  • Concerned with wealth preservation
  • Concerned about security
  • Concerned about integrity and due process
  • Prefers quality over quantity
  • Not desperate for a good deal

Looking at the two lists above, you need both demographics and psychographics. If you use demographics only, and you have an outline of your target audience that is incomplete but not where to find him and what really motivates him to act. Psychographics gives you a deeper insight into their minds!

Getting Psychographics Right

To get psychographics and social media marketing right, seven major methods are useful, you just need to use them all and then stick to the ones that are most effective for you – you know, the 80/20 principle?

Here we go:

  1.   Interview of your Existing clients
  2.   Sales, Marketing and customer service teams
  3.   Social Media
  4.   Meet Ups
  5.   Surveys
  6.   Using Recent Marketing Data
  7.   Digging into your website analytics

Gathering Client Psychographic Data

1. Interviewing Existing Clients

Get personal with your best clients. Give them a call or better still, pay a courtesy call (with a high perceived value gift of course) to appreciate them. Then ask them a little more about themselves.

  • Ask about his favourite club or hobby. Ask them of their favourite celebrity or electronic brand
  • Get a little bit more personal and ask about the intangibles like their core values
  • Ask about their biggest challenges and how they overcame them.
  • Ask them about their goals.

These questions connect you together at a deeper level.

If the person has been quite friendly as well, you can tell them the main reason why you’re asking these questions and be more direct.

If your business is mainly online, send a gift along with a survey you have created asking these questions.

Be truthful and let them know you desire to know them better and understand what is important to them. Most people are more than happy to share.

As human beings we all need to be appreciated and valued. We also love the share our wisdom and most difficult triumphs.

On social media, you have to define your target audience by value and size.

Generally, the more valuable your audience is, the smaller their size.

2. Sales, Marketing and Customer Service Teams

As a leader of an organization that is into sales, your sales, marketing and customer service teams should be a major source of client psychographics because these guys are the ones that talk to your clients and prospects daily.

Ask them what customers are saying or observe them while they are making calls.

Your aim is to have each sales, marketing and customer service team member start progressively profiling and collecting details of each client.

3. Social Media

I find it amazing that merely investing 3 minutes to look at a prospect’s Facebook, Instagram or Twitter profile, get to know them so much more.

Be wise and get to know who your buyer is by checking their social media accounts for relevant information. I guarantee that you will find something – even it is that they are not active on social media.

I have also found that human beings are more honest and open when unprovoked. Our social profiles give some insight into our likes and dislikes.

4. Meet Ups

While you may not have the advantage of inviting your clients into your office for a one-on-one discussion, you should be talking directly to them to identify some of the psychographic data you need.

Pick the phone or host your top 20% of clients and find out more about their lives.

Going all the way to understand client or prospect psychographics will arm you with valuable information and make you absolutely different from your competitors because the process will have forged a deeper connection with your target market.

Believe me, what you want them thinking, smiling and saying, “Wow, this organization really knows me.!”

5. Surveys

Surveys are a great way to discover the psychographics of your clients and prospects – as soon as you know what you want to know about them.

So do some in-house data analysis to bring up the right follow-up questions to include in your survey.

6. Use Recent Marketing Data

Data powers the making of quality business decisions when they are processed into meaningful information.

Practicing inbound marketing provides a great platform to learn about the psychographics of your buyer personas. All you need to get started is a desire to really understand your customers. Here are some places you can start looking for psychographic data.

Most companies focus on the numbers. Stats don’t lie.

However, you need to look at these data from a “What, Which and Why” perspective.

  • What do women buy the most?
  • Which age bracket buys them the most?
  • Why does this age bracket buy them the most?

When you look at your data from the “What, Which and Why” perspective, you will definitely get some previously unnoticed psychographic information out.

7. Digging into your Website Analytics

Investigating Website Analytics

Very few corporate businesses are not online these days. If your website has decent traffic – especially if you sell digital products online or do e-commerce, you will be wise to find out your analytics. Check current website content and special offers. What have people downloaded, or clicked on? What has made them call you or buy before?

All these you can find from your website’s Google analytics.

If you have ignored psychographics and social media marketing until now, pay attention, implement it and test because it can be very effective. This is because as human beings our actions reveal our true intentions and motivations. If I use discount codes a lot, does that not tell you I love bargains?

Using Psychographics and Social Media Marketing in Your Business

Getting the psychographic data is important, but really applying it to your marketing is how you make it effective. How would you do this? Let’s continue with our on-going example about the real estate prospect.

Assuming, we’ve now have gathered some data using the techniques outlined in Getting Client Psychographic Data above, let’s use the information in our marketing strategy.

Once you understand what is important to your target real estate audience, you’ll know where to find them and how to motivate them. Then you can educate and offer them what they need.

In the process of using psychographics and social media marketing, you will need to educate. Educating them is telling them what they need to hear about how your selecting areas where to live, How location selection has benefitted others like them and how it will add value to their lives with maximum security guaranteed. Customer testimonials are great for this.

When you know that your real estate target audience spends free time on Facebook, you can stop spending money on Twitter or magazine adverts. Rather, use their love of Facebook and share educational tips loaded with ideas for how your product can help their families and friends.

When you know that real estate and family are important to them, you’ll want to share articles showing the impact that good neighbourhood has on family life and ways to select where to buy a home.

Knowing more about they love to play amateur golf will help you when you need to create content about living close to a golf course, how golf courses in an estate increases property value, and the images to use in your next ad creative. Before you know it with psychographics and social media marketing, you’ll have more qualified leads than you can imagine!

OUR EXPERIENCE WITH PSYCHOGRAPHICS AND SOCIAL MEDIA MARKETING

Our agency’s  has a most valuable audience of a little over 500 Nigerian CEOs in various fields including include 130 CEOs who live in Ikoyi, Victoria Island and Banana Island axis.

(For readers living outside of Nigeria, Ikoyi, Vicotial Island and Banana Island are sort of like Hype Park, Beverly Hills and the Hamptons)

It has taken us over 6 months to build this most valuable list – six gruesome months of first collating their names, gathering substantial data on them – the type you can’t get online like where they worship, where they go for fine dining, their favourite charities and their social clubs.

We sought for them all over social media, their company websites, new websites and used all the information gathered to target them on social media – talk about psychographics and social media marketing.

Small list but by far our most valuable asset (apart from ourselves and the investment we have made in ourselves in the last 1 year).

Anyone can build an awesome list like this but you start by always choosing quality over quantity.

Think of who you want to target precisely. Be clear, be specific. Where do they work? What is their title? Where do they live? What kind of car do they drive? What industry conferences do they attend?

QUICK TIP: On Facebook, it is even easier to do after doing your due diligence.

Do you use psychographics in marketing your business? Please share how you do it below!


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