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Psychology as a key to a successful marketing strategy

It is well known that Marketing has its roots on the famous 4 P´s: Product, Place, Promotion and Price. We also know by heart that every Marketer´s mission is to provide added value to consumers, so they are more likely to be engaged, satisfied and loyal. Constantly when studying people’s behaviour in the attempt to build a good Marketing Mix, we struggle to explain and predict it. Psychology however, can help with that. When analysing the origin of consumer behaviour, a Marketer would know exactly which product at what price, where (place) and how (promotion) to offer.

 

Psychology is the science of people. It is important to say that Psychology is not about putting people in boxes and overanalsing every step they make, it is a science that teaches you to be compassionate and appreciate people’s differences. It fights the prejudices, leaves gender, age, race and social situation aside and gives space for the personality to speak about itself. This deep understanding of people that Psychology gives you, can open many doors and offer you the ability to help people without them asking you.

 

And isn’t that the baseline for every marketing activity? Offering a product or a service to the customers that you know in advance they will need, moreover presenting it in a way that will awake their interest and pull their strings.

 

If we search the term for “Marketing” we can get a definition like the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer.

 

Marketing is all about building a long-term relationship with your customers, and what a better way to do it than getting to know them first. If brands become friends with consumers by talking to them in their language and by understanding what they want (even before they say it), it would make them love and trust those brands.

 

Having said all that, it becomes a little clearer why no one, specially a Marketer should underestimate the power of Psychology. In the modern world brands have more impact in our life than politics and religion. We expect them to care, understand, build an image that covers our expectations. And the brands themselves are drowning in data, unstructured data that their customers produce every day. Sorting out the relevant information out of the noisy one could become a long and costly process for Marketers to get the insights they need. That is why every Marketer needs to choose a reference point smartly.

 

Parameters such as demographics, buying behaviour, activities and occupation give only one-sided view on the customer base and require a lot of additional analysis in order to be able to build a stable, long term Marketing strategy. This is possible only if you capture the roots of the consumer’s actions and use this knowledge to predict their behaviour. This leads us back to this long time underestimated subject in marketing context – the Psychology.

 

Imagine if you had the possibility to have a sneak preview into your target group’s mind. If you were able to customize your strategy according to their preferences, if only you could read between the lines and take actions even before an obvious change in the behaviour occurs. With the help of Symanto’s audience insights you could.

 

At Symanto we use Artificial Intelligence to automatically identify customers’ Personality Traits & Communication Styles from the text they produce on different online channels. Such posts are analyzed with our technology in order to understand the messages between the lines, and to find out the motivation behind the customer behaviour.

 

Our real-time insights generation tool helps companies build insights-driven marketing strategy, cultivate customer relationship and grow business through in-depth understanding of opinions, needs and personality traits of existing, new and targeted audience.

 

If you´d like to know more about how our Automatic Psychology insights can help you to bound better with consumers, contact us for a free demonstration!