Market insights reveal previously undiscovered realities about your target audience. The most valuable market insights are those that tap into who your customers are. What drives and motivates them? This knowledge empowers you to accurately predict what your customers want – the Holy Grail of marketing.
But there are significant challenges to fully understanding your consumer base. Most market insight tools are built to measure and predict behaviours, but fall short of explaining consumer psychology itself.
Symanto’s psycholinguistic AI technology is changing the game by tapping directly into consumer psychology via existing and widely available qualitative data.
The aim of marketing
In order to build a powerful marketing strategy, it helps to clearly define your goal. What do you ultimately aim to achieve through your marketing efforts? Peter Drucker says it best in his book Management: Tasks, Responsibilities, Practices
[…] The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.
Take a second to answer the following questions:
1. When was the last time you were sold something by a salesman?
2. When was the last time you purchased something you felt you needed, or that would add value to your life?
We’d venture to guess that your answer to question 2 is more recent.
People are wary of being sold to, but if your product is in front of the right person, at the right time, at a price they can afford, and if it speaks to their lives and their needs, well then you have the magic marketing cocktail, no salesmanship required.
But how do you get there? How do you reveal all of the market insights necessary for a powerful marketing strategy?
Limitations of existing consumer insight tools for marketing
Some of the most widely available consumer insight tools measure parameters such as demographic data or behavioural data. The problem is that drawing conclusions solely from this data leaves too much room for bias and speculation. It doesn’t explain what motivates customers to make a sale.
Additional analysis is needed to build a stable, long-term marketing strategy. You need to capture the root of the consumer’s actions and use this knowledge to predict their behaviour. In other words, you need to understand their psychology.
The most frustrating thing for many organizations is that the data is out there. Brands are drowning in data, unstructured data that their customers produce every day. Sorting out the relevant information from the background noise is a long and costly process for marketers to get the insights they need.
It’s much easier to measure demographics and behaviour such as online purchases and the number of social media interactions, but few people know about the developments in psycholinguistic AI technology that allow us to easily and quickly measure and extract insights into consumer psychology.
Consumer psychology: uncovering the most valuable market insights
Psychology is the science of people, and people are extremely complex. Two people of the same age and gender from the same village can buy exactly the same product but for entirely different reasons. That’s why it’s not enough to put people in boxes and infer from their behaviour.
A far more nuanced way to understand someone is to listen to what they say and how they say it. And that’s what Symanto’s psycholinguistic AI technology does and continues to learn to do. It lets people speak for themselves and then extracts useful insights from what they say and their use of language. You learn their psychology, who they are, and how they like to communicate.
Understanding the psychology of your customers enables you to more accurately predict what your customers want, and offer them a product or a service in a timely manner (and lightyears ahead of your competitors), moreover, you can present it in a way that will rouse their interest via messaging that they can really relate to.
Apply Symanto consumer insights to:
- Understand who your consumers are. Identify their personality traits.
- Predict their future behaviours. Understand what they want before they even say it.
- Refine your product / product range. Listen to what your consumers want and respond.
- Hone your messaging. Talk to them in their language. E.g. do they respond better to emotional or rational messaging?
- Build and sustain a lasting relationship over time. Follow up with communication they find useful and/or engaging to stay relevant without being imposing.
Start using Symanto
Imagine if you could have a sneak preview into your target customers’ minds. If you were able to customize your strategy according to their preferences. If you could read between the lines and take actions even before an obvious change in their behaviour occurs. With the help of Symanto Insights Platform you can.
At Symanto we use Artificial Intelligence to automatically identify customers’ Personality Traits & Communication Styles from the text they produce on different online channels.
These posts are analysed with our technology to understand the message between the lines, and to find out the motivation behind the customer behaviour. A process that takes a matter of minutes.
Our all-in-one insights generation tool helps companies build insights-driven marketing strategies, cultivate customer relationships and grow business through an in-depth understanding of opinions, needs, and personality traits of existing, new, and targeted audiences.