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Posted: September 3rd, 2022
How can organizations make effective use of Big Data
How can organizations make effective use of Big Data to gain an understanding of their customers’ psychology and what strategies they implement on future marketing
The availability of large data sets has made marketing research more convenient. Unlike the past, when data collection was through interviews, questionnaires, and observations, nowadays, it is garnered from online platforms. Big data enables researchers to understand customers’ preferences, brand perception, and competition.
Digital marketers have realized a secret known as psychographics that is transforming marketing. Psychographics is a method used to describe and group customers based on their psychological attitudes, such as beliefs, opinions, values, habits, personality, and lifestyle. Search engines, online platforms, and mobile applications collect a lot of information about the customer. That includes sites they visit, time spent on each site, purchases made, reviews, chats, and calls. Through this, they are not only able to know the individual but also what they do online and why. The data reveals aspects such as feelings, emotions, and cognition. Marketers use this data for targeted marketing.
Digital footprints consumers leave in applications, such as Facebook and Google queries, reveal their psychological traits. That information aids in improving customer marketing and experience. Using predictive analysis, the marketers can identify products, web design, background colors, and services that match individual psychological traits and present it to them. That prevents choice overload. Through psychographics, marketers can know whether a female social media user is pregnant and at what stage of pregnancy. They then present them with items required by expectant mothers. A retail company known as Target in the United States uses psychographics.
People are likely to show positive emotional and behavioral responses to items that are congruent with their personality. For instance, an extroverted person with an open mind will show interest in unique and flashy clothes and creative advertisements. Research shows it’s more satisfying to purchase products that fit a person’s personality. The availability of demographic, behavioral, and psychological information enables marketers to improve customer relations. However, ethical issues have become a concern; some of the companies are taking advantage of the consumer’s weaknesses, such as addiction and tapping into it.
Advertisement campaigns that match the dominant personality traits of the consumers get high conversion rates. The use of big data to extract critical psychological information from predefined consumer profiles improves customer experience through targeted marketing and optimization of online services. It allows marketers to present customers with goods that match their mental states.
References
George, Gerard, Martine R. Haas, and Alex Pentland. “Big data and management.” (2014): 321-326.
Dimofte, Claudiu V., Curtis P. Haugtvedt, and Richard F. Yalch, eds. Consumer psychology in a social media world. Routledge, 2015.
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