Ben Morris is an expert at using phychographic data to sell products. In this clip he breaks it down.
Ben says:
I’ve worked for all of these different businesses using big data, and it works with every business to consumer product or service. The reason why is very simple. It’s not about what you’re selling. It’s about the people that are buying what you’re selling. If you understand the people, psychographically, you can sell them whatever you want to.
You can even craft products that you don’t have. Based on what they want and I always joke. I’ve worked with everything from mobile homes to funeral homes. It’s really true And it really works for any kind of business consumer because think about it Who comes down and buys a mobile home from Mars and then goes back and doesn’t do anything else?
No, people have regular ongoing habits, and they may buy a home They may buy a vacation and you start to see patterns and that allows you to sell people your other things besides just in your niche the applications are for paid search, direct mail, email, copy, upsell, customer retention. Those are just a few.
And as I said, it’s about the people buying the product or service. So I’m going to try to tell you some practical applications because it’s happening every day and it’s happening in some of the most this is to me odd, but Walmart does big data analytics to determine based on the store how many of a particular waist size of a particular style of jean are going into a particular store.
Now if you think about it, that makes sense. Because if you’ve got a bunch of people, if you ship a bunch of 44 inch waist jeans to a store in rural somewhere, And there’s not anybody that’s 44 inches. You’re going to have to do something with them. You got to mark them down. You’re going to send them to where the 44 inch waste are.
And that kind of predictive analysis allows you to be a more efficient retailer. Top companies use big data every day to grow share, knowing what to do with the data and being able to take this big information that’s out there. Like all of the people who visit your website, they all have browsers.
They all have screen resolution. They all have. You have certain types of are they coming in off of mobile? All of that creates millions of data points. If you’re able to make them make sense within your own buying, you can realize that if someone comes to the site and they’ve got a certain type of browser, that they’ve got a high probability of being able to buy a certain type of product, and we do that with our clients.