CB Insights wrote a report on the use of Psychographics, the stuff that brought infamy to Cambridge Analytica and its ultimate demise. It seems this approach is far more prevalent in commercial advertisement than otherwise understood.
“Psychographics focuses on understanding cognitive attributes, such as customer emotions, values, and attitudes, among other psychological factors…based on their activities, interests, and opinions (known as AIOs) going beyond classifying people based on general demographic data. This could provide insight into why someone might buy a specific product, support a given cause, vote a certain way, and much more”.
Psychographic marketing, that plays on “subconscious personality characteristics”, is used by advertisers to capitalize on impulsive decision-making. “According to a 2009 experiment, psychographically-informed behavioral targeting increases click rates by 670%.”
But psychographic marketing is only as effective as the data underpinning it. How then, do companies acquire this information?
The report shares insights from Auto industry, health care and even food retail to demonstrate how deep and impactful this is. Must read!
Where I learnt it #234
What Is Psychographics? Understanding The ‘Dark Arts’ Of Marketing That Brought Down Cambridge Analytica https://www.cbinsights.com/research/what-is-psychographics/
