In the run-up to Christmas, brands and retailers traditionally spend on marketing and discounting via generic festive messages they hope will convert enough potential buyers to beat the competition. But budgets could be spent far more effectively if it were possible to understand customers and prospects – and the Christmas buying experience they’re after.
People engage with Christmas shopping very differently: some have it all wrapped up by December 1, while others are still rushing around like headless turkeys on Christmas Eve. There’s Bargain Hunters who scour the web for the best deals, Family Shoppers who browse and browse to find perfect gifts for their nearest and dearest. There’s The Early Birds who enjoy a clinical Christmas and The Bohemians: those who buy big for a shock and awe season.
Conventional data might reveal what online customers are doing, where and when but it glosses over the fact that every consumer – offline and online – is a living, breathing human being with a lifetime of experiences and a distinctive set of character traits which shape their behaviour. Personality plays a huge role in governing how people respond to products, brands, advertising, promotions, onsite design, selection, pricing and much more besides.
If brands and retailers’ ultimate aim is to reach prospects on an emotional level – for Christmas or at any other time – then personality is vital information for advertisers to segment customers based on who they are, how they’ll shop, and what message will best resonate.
New approaches are now emerging that can provide a much broader picture of each online consumer, including insight into their psychology. As a result, a growing number of brands and retailers are now taking their first steps into a new world of market segmentation based on what truly motivates people and on what drives their purchasing behaviour. Researchers in psychology have spent decades building rich models based on the “Big Five” personality factors – Openness, Conscientiousness, Extraversion, Agreeableness and Neuroticism.