If you're like most businesses, you're using demographics to market your product. And you may be successful with this strategy...to a certain extent.
It’s valuable to know your target’s age, marital status, education level, and geographic location – the ‘who, what, where, and when’. But you also need to know the ‘why’. This is when psychographics come in to play. They give your data some depth, providing you with a clear picture of who your target customer is and how they feel about the products they buy and use.
Psychographics focus on your customers’ attitudes, values, personality traits, and interests. These are just as important as demographic information.
For example, imagine that you’re selling organic honey. It makes sense that you’d want to market your honey to people who care about health and wellness. When you advertise your product, you can highlight the fact that it’s good for health and good for the environment.
The following are the key types of psychographic data your ICP should include.
Define the personality traits your target customer exhibits when they interact with the world around them. There’s a good chance you’ll discover common patterns in your research. For example, are they introverted or extroverted? Are they concerned about tiny details or are they the type of person who doesn’t sweat the small stuff?
Lifestyle refers to how your target customer lives their everyday life. This includes hobbies and interests and how they spend their leisure time. Understanding your customer’s lifestyle can help you identify the types of products and services they use and how they use them.
This category includes a whole range of characteristics such as goals, aspirations, beliefs, opinions, and core values. If you know what’s most important to your customers, you can align this with the products you’re offering. You can also learn more about the types of offerings they’d like from you.
An important part of your ideal customer profile is your target market’s attitudes and behaviors toward the products they buy. This includes their budget, how and where they buy, and how they use the products they purchase. It is important to understand their decision-making process and what prompts them to purchase. This will help you to set prices and streamline the sales process.
It is crucial that you understand your customers’ pain points. These are areas where they’re struggling and looking for help. Your products should offer solutions to these problems. Understanding pain points will also help you figure out how to best communicate your products’ unique value to your audience.
Understanding the psychology of your target audience gives you the ability to focus on what they need and powerfully communicate with them. It’s not about using this information to manipulate people. Rather, you’re trying to know them well so you can help them make the right purchase decisions and improve their life. This data also helps you figure out where to reach them and how to speak to them.
Once you’ve conducted research on your target market, you can start creating your ICP. This is a profile that describes your ideal customer as an individual who would best benefit from your products.
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