Where can I find psychographic data

This is how your target group analysis succeeds

The people who buy a product or service are probably the most important success factor for a company. In order for your target group to become aware of your products and services, a precise target group analysis is required in advance. This analysis should be well planned and implemented. Which segmentation variables are really important and how do I get the most important data?

A good target group analysis is the basis for every successful online strategy and targeted marketing measures. Target groups, however, are not rigid structures, but are constantly changing. The target group analysis is therefore not a static survey, but a dynamic process. Don't rest on your existing data, update your insights and adjust campaigns. To find the right audience, analyze your product and the people who buy it. Ask yourself why someone should buy your product and what makes these people “tick”. What are your reasons for buying?

So if you want to define a target group and successfully carry out the target group analysis, you have to take a close look at the customers and their needs. But what information do I need from my customers so that I can define a target group? How do I find out their needs? In order to begin with the target group analysis, it helps to know the necessary information.

What is a target audience? - definition

The target group represents the sum of people who are primarily considered to buy a product or use a service. Target groups are usually described using socio-demographic characteristics, for example “unmarried men between 20 and 30 years of age with a high income”. A target group can be described by the following segmentation variables:

  • Demographic characteristics (age or gender)
  • Socio-economic characteristics (education, occupation, salary)
  • Psychographic characteristics (motivation, opinion, wishes)
  • Buying behavior (price sensitivity)

While the demographic and socio-economic information is easier to collect, the analysis of psychographic aspects and buying behavior is more complex. A simple query is no longer sufficient here, as individual behavior is subject to different habits and personality traits. When it comes to buying behavior, some aspects can be clarified with simple W-questions: When does my target group buy? Where does she buy products and what does she buy? The reasons for a purchase and the aspects that influence a purchase decision are far more complex. Psychographic characteristics play a role here.

A holistic picture with psychographic characteristics

Anyone who conducts a target group analysis and wants to understand their target group in depth should include psychographic features in the analysis. They are critical to effective marketing as they go beyond general issues of a demographic and socio-economic nature. Psychographic factors include behavioral traits, values ​​and preferences of your customers. For example, lifestyle and hobbies have a direct influence on their needs. So ask yourself: What motivates my customers and why? Only with this information can you create a holistic picture of your target group.

How do you get the right data?

You now know what information you need from your target group. But how can you collect this data? How do you find out what needs your customers have? You can determine data either in direct dialogue with your customers or through various tools and methodologies. For example, create surveys and consumer panels with various surveys or hold group discussions. They are popular ways to discover information.

When subscribing to the newsletter, some criteria of the target group analysis can already be covered by voluntarily providing the zip code, age or gender. A few years ago, employee and customer surveys were carried out on a piece of paper, but today they can be almost completely replaced by online surveys. The advantages of this methodology for your company are obvious: It is the far more cost-effective variant: The process of sending questionnaires by post or collecting answers by the interviewer on the phone is no longer necessary.

overview about the possibilities of data collection:

Use new tools: social media monitoring for target group analysis

Those responsible in marketing can analyze their target group based on their social media activities. Marketing experts know about the potential of social media monitoring. The term describes the monitoring and analysis of mentions of all kinds in social media. For example, they include channels such as Facebook and Twitter, but also discussion forums, video portals and other social networks in the target group analysis. This also distinguishes the analysis from web analytics. The latter deals with the in-depth analysis of visitors and visits to your own website, but not on social networks.

Would you like to find out more about social media monitoring? Then read our article "Understanding and using social media monitoring in your company". Social media monitoring can be used strategically for target group analysis and other marketing activities. For example, to create content in content marketing. The strategic use of social media monitoring tools and their results are dealt with in detail in our whitepaper "Social Media Listening".

Anyone who analyzes their target group and their activities on social networks can obtain significantly more information about their needs. The reason: Many customers act “more freely” in social media than with surveys or other survey methods. Companies can analyze their target group much better in everyday life and adapt their marketing to the customers.

Market segmentation and target group definition in B2B

When analyzing target groups, it is crucial whether your products, campaigns and services are aimed at B2B (companies) or B2C customers (consumers). B2B business models are much more individually tailored to the target group than B2C business models. Business customers usually have a greater need for information than consumers in the B2C area. The consulting effort is therefore significantly higher. The trust and knowledge of the respective provider play a bigger role. A classic segmentation according to socio-demographic characteristics is also suitable for B2B target group analysis. However, these characteristics differ somewhat from the B2C segmentation variables:

  • From whichBranch do the companies come that I want to address with my content? Is a common onelegal form recognizable? Are there parallels with regard to the size of your company?
  • Alsoeconomic aspects are of interest. Which companies have sufficient financial resources to be able to afford my product or service? Parallels in the purchasing behavior of the target companies can also be interesting.
  • In the B2B market, larger companies usually involve several people who are involved in the purchase decision and use of the product.

Nevertheless, the following applies: Even in B2B, people are the target group, not companies. Your target group analysis should take this into account and scrutinize the purchasing decision-makers as customers, as is the case with B2C target group analyzes.

3 steps to success:

  1. Step: Define your target group. A target group can be described in terms of the four segmentation variables: demographic, socio-economic, psychographic and behavioral characteristics. Characteristics such as gender, age, income or place of residence are to be considered as well as the question of what personal wishes, problems or needs your customers have.
  2. Step: stay up to date. User behavior is changing very quickly. You should therefore regularly check whether your target group analysis is up-to-date. Set the sales team to ask for customer testimonials that you can compare with your existing analysis. And use options such as social media monitoring to generate more information for your target group analysis.
  3. Step: Find a mutual dialogue. Solve possible problems of your main customers with the target group analysis. For the senior customer group, for example, it is important to ensure that the font size is at least 14 pixels. In contrast, younger audiences value appealing design or interactive elements. The integration of social media is also an important link between you and your target group.

Conclusion

If you determine what your target group wants with the help of a precise target group analysis, you will also bring successful campaigns to the market. Update your analysis so that you can always respond to changing customer needs. For the success of the target group analysis itself, it is important that you take the various segmentation variables into account and also use new survey methods.

Image sources

  • Target group: © LUCKAS - Fotolia.com