Thanks to the Internet, marketers are now conducting archeological digs known as social profiling to get closer to their customers.
This is an exciting time to be a marketer. For starters, there is the daily challenge of keeping up with the evolving world of social media. Now, due to the collective intelligence gathered by search outlets and the rise in social network management tools, targeting potential customers is morphing. Demographics, the statistical characteristics of a population (e.g., gender, age, race, education, income, etc.) will no longer have the former relevancy as marketers determine their target market. Instead, marketers are beginning to examine multiple data points known as psychographics.
One critical component of psychographics is social profile data, the information gathered from the numerous social networks we navigate. Tools have been developed to fine tune a consumers’ preferences. Instead of being dropped into the classic demographic bucket of a Mom, age 25-34, college education with a household income of $75k, marketers now overlay psychographic information. New data points: personal interests (e.g., running, yoga, sewing), monthly online purchasing behavior, social class based on purchase behavior (e.g., cars, travel, food & beverage), etc. Sounds confusing? Now throw into the mix how the data can be mined to predict a customer’s lifecycle. Using the above Mom example, marketers will know the exact ages of her children so they can connect when she is ready to buy something like a Nod chair for her three year old or diapers for her two month old baby. Marketers now utilize algorithms to build a closer understanding, better relationship with their customers.
Key Implication: Fragmentation is now the norm. Consequently marketers will need to develop multiple positioning statements. A good example would be cars. Some consumers will view a luxury car for prestige and status, while other potential buyers will buy the car strictly for its interior space for comfort. Social profiling tools will help marketers reach their finite targets.
Can you identify your social profile?