What are psychographics? Why are they important? Which psychographics should you focus on? I’m going to cover this and more in today’s episode as I review six psychographics to help increase revenue growth.
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Increase Revenue Growth With These 6 Psychographics
What are psychographics? Why are they important? And which psychographics should you focus on? I'm going to cover this and a whole lot more in today's episode as I dig into the six psychographics that you can focus on to help increase revenue growth.
Hi, I am Tim Fitzpatrick with Rialto Marketing, where we believe you must remove your revenue roadblocks if you want to accelerate revenue growth.
Thanks so much for taking the time to tune in. Can't wait to dig into this because I think it is such an important aspect of marketing. One of my mentors says that businesses that grow faster have customers that they just know better. I want to repeat that again because I think it is so important businesses that grow faster have customers that they just know better.
Demographics vs Psychographics
When it comes to knowing your customers better, there are two things that you can really focus on demographics and psychographics. Let's talk about these a little bit. Demographics versus psychographics, what are they?
Demographics, it's the statistical data about a particular person: age, income, gender, educational level, job title, industry that they're in. Now, the demographics that you may focus on are going to vary depending on whether you're in business to business or business to consumer, and may vary slightly by the market, what you do, and the markets that you serve but the demographics are just the stats. It helps start to paint the picture of who these people are, but what it lacks is really getting to know and understand what these people are like. That's where we start getting into the psychographics.
The psychographics are about their attitudes, inspirations, and really help us understand what is going on inside their head so that we can do a better job with our marketing, to create messaging that's going to engage and attract them. But also so that we can actually create products and services that are going to meet their needs and help them solve the problems that they have so they can get from where they are to where they want to go. We have to understand our ideal clients intimately if we're going to serve them at the highest level possible and if we're going to attract as many of those people as possible.
So in my opinion, the psychographics are far more important than the demographics. I think it's important to have some of the demographics, but I don't think you need to have tons of data points on the demographic side of it. I think it's far more important to understand the psychographics of your ideal clients.
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The 6 Psychographics Increase Revenue Growth
So what are these six psychographics that you can focus on to really get in and understand who your ideal clients are and what they're thinking as it relates to your products and services and what you do. So let's go through them.
Personality. What are they like? Are they extroverts? Are they introverts? Type A, what are they like? Again, depending on whether you're in B2C, or B2B, you may focus on slightly different aspects of these various psychographics. So personality people may be different in their personal life compared to their professional life, right? So you really want to hone in on the personality type of your ideal clients. Again, as it relates to what you do, it needs to be relevant, right? But again, are they happy? Are they kind? Are they optimistic? For example, personality for me, with our ideal clients at realtor marketing, they have to be growth minded. That's an aspect of their personality that is really, really important.
What else can you look at? Opinions? Is the next psychographic? Are they open to hearing other points of view? Do they love to get outside eyes and feedback on what they do? What topics do they tend to have really strong opinions about? Are there really strong opinions that they need for them to be a good fit for you? So again, as an example for our business at Rialto Marketing, their opinions, they need to value marketing. They need to see marketing as a valuable part of their business. If they don't value marketing, they're never going to be a great fit for us. So that's an example of an opinion for our particular business.
What are their attitudes, again as it relates to what you do? Are they ambitious? Are they calm? Are they brave? Are they laid back type people? What are their thoughts and attitudes as it relates to what you do?Start to hone in on that.
What are their values? Do they tend to have strong family bonds if you're serving B2B? Are they religious? Are they spiritual? Are they honest? Trustworthy? Are they self disciplined? What things are important to them that they really value? You want to understand that.
Next one lifestyle. Are they active? Outdoorsy? Do they endure sports? Fitness? Do they travel? Do they enjoy good food or wine or whatever? I mean, a lot of these are more on the B2C side. But again, you can translate this over to the B2B side as well. But we just want to gather again as much data that really helps us understand what these people are like.
Last one, what are their interests? What are your ideal clients enjoy? Right? About their business, if you're serving B2C or in their personal life, in their business, if you're serving B2B and in their personal life if you're serving a B2C market. But do they have hobbies? Are there things that they're particularly interested in or focused in on with their business? Anything? We want to start to really look into that and really understand that.
Now, a few bonus elements here that you could think about. Goals. What are their goals as it relates to what you do? What are the common problems, the most important, pressing problems that they have that you can help them solve with your products or services? What are their dreams? What are their aspirations? What do they want to accomplish? All of these things will really help you get into the head of your ideal clients.
Conclusion: Increase Revenue Growth With These 6 Psychographics
So I want to review these one more time. Six psychographics that will help you increase revenue growth: personality, opinions, attitudes, values, lifestyle, and interests of your ideal clients.
I would spend far more time focusing on the psychographics of your ideal clients over the demographics. But both the demographics and the psychographics will help you paint a very clear picture of who your ideal clients are and what's important to them. And from that you have all kinds of valuable information to create messaging that's going to attract and engage those people and create products or services that are going to meet their needs and help them get from where they are to where they want to go. Such a critical foundational, fundamental element of marketing that so many people skip.
So I hope you have found this short episode helpful. What we're focusing on here today is all about target market, which is one of the nine revenue roadblocks we help our B2B clients remove so they can accelerate revenue growth. If you would like to know which roadblocks are slowing down your growth, head on over to Revenueroadblockscorecard.com. It'll take less than five minutes for you to get your score. You'll discover and assess which of the nine roadblocks are slowing down your growth. Well worth it. There's a ton of value in there, so head on over to revenueroadblocks to scorecard.com to take advantage of that.
If you want to connect with us, you can also do it over at rialtomarketing.com. Happy to chat with you. You can book a GPS call with us where we will look at your goals, plans, strategies, and help give you direction, help give you guidance on the direction that you should head with your marketing based on where you are and where you want to go.
So again, I hope you found this helpful. I appreciate you taking the time to watch or listen. And until next time, take care.