In 2014, pop culture had “twerking” and marketing had “segmentation”. Both words were everywhere, and while one may seem more exciting…we actually had a lot of fun exploring the one that was NOT twerking.
We released a new Onboarding tool that can finely tune your audience and market directly to them. We spent more time than ever talking about why you should break down your list of email addresses by certain demographics. It was great! But now we’re hearing a new buzzword creep into the financial marketing world: psychometrics.
Psychometrics is basically like the really inquisitive friend of demographics. While demographics tell you the age, location, and gender of a recipient, psychometrics divides them by behaviors. It looks at lifestyle and thought process to create a bigger picture of exactly who it is you’re talking to. If you’re frustrated by a low open-rate, this could be what it takes to finally break through the noise.
Our best tip for collecting psychometrics is pretty simple: create a survey. However, instead of asking the usual questions like, “How often do you visit our branch?” or “What services do you use the most?” try asking lifestyle questions. Occupations, hobbies, time spent on the computer…these are going to be what creates a full picture and it should be what drives all your marketing in 2015. We urge you to log into the DocuMatix Product Suite ASAP and get that survey created, we can promise it will make a difference.
What do you think, is psychometrics going to be big in 2015? Do you already employ these tactics?