Growing Your Business through Insights & Targets
Why focus on psychographics?
- Most marketers create target audiences using demographics. Females ages 25 - 45, for example. The problem with this? It doesn’t help you differentiate or innovate. The psychographic approach to marketing focuses on solving a problem for a group of people regardless of their age, sex, or life stage.
- A psychographic approach to targeting an audience almost always leads to dominant market share.
- This method is so much more fun than the old “If itʼs September we must push car loans” solution to growing market share.
- A lot can be learned by examining how companies like Netflix, Apple, and Amazon used a psychographic method to innovate and make their competition irrelevant.
- Traditional marketing is losing its effectiveness.
- As more and more credit unions overlap with expanded field of membership, it becomes increasingly important that we differentiate ourselves. The challenge is to avoid competing on price, get back to the basics of “people helping people”.
- If you don’t target an audience you may inadvertently target the wrong one.
How will your session help attendees?
Credit unions tend to be fast followers and conservative - not necessarily innovators. By learning to target a problem, rather than a product, we can do two things:
- Evolve faster, beating our competitors.
- Make a difference!
This economy has given our members [credit union customers are member-owners] tons of problems that we can help them solve. We were founded on “people helping people”. That’s what credit unions are here to do!
What would be the one message you want the audience to come away with?
We have to stop stalking our members with “me too” products and start listening to their needs.
Register by September 9 to get early bird pricing and best hotel rate.