The days of cookie tracking come to an end. Innovative organizations finally say goodbye to untargeted mass communication. Understanding customers' needs, wants, personalities, and values is the next frontier for successful marketing.
One powerful tool that can aid in this endeavor is Schwartz's
Universal Personal Values. Developed by social psychologist Shalom H. Schwartz,
this framework identifies a set of 10 universal values that are shared across cultures and can be instrumental in gaining insights into customer behavior.
We look at how Universal Personal Values can play a crucial part in
psychographic segmentation and analysis and can be leveraged to drive engaging and successful campaigns.
A Universal Framework for Understanding Human Values
Schwartz's Universal Personal Values represent a comprehensive framework that transcends cultural and geographical boundaries. These values are as follows:
- Self-Direction: Autonomy, creativity, and the pursuit of personal goals.
- Stimulation: Excitement, novelty, and the desire for adventure.
- Hedonism: Seeking pleasure and the avoidance of pain or discomfort.
- Achievement: Striving for success, competence, and accomplishment.
- Power: The desire for control, influence, and authority.
- Security: Seeking safety, stability, and harmony in life.
- Conformity: Valuing tradition, obedience, and fitting in with social norms.
- Tradition: Respect for cultural and societal customs.
- Benevolence: Concern for the welfare and well-being of others.
- Universalism: A commitment to social justice, equality, and the welfare of all.
These values serve as a foundation for understanding why people make their choices, including purchasing decisions.
Psychographic Segmentation for Targeted Marketing
Psychographic analysis involves delving into your target audience's mindset, beliefs, attitudes, and values. By applying Schwartz's Universal Personal Values, marketers can create more accurate customer profiles and segment their audience effectively.
For instance, individuals who highly value "Achievement" may be more responsive to marketing messages emphasizing how a product or service can help them reach their goals and succeed. On the other hand, those who prioritize "Security" might be drawn to products that emphasize safety features and reliability.
Building Emotional Connections
The emotional connection between a brand and its customers is often the driving force behind loyalty and advocacy. Understanding the values that matter most to your target audience can help you create emotionally resonant marketing campaigns. When your brand aligns with your customers' values, they are more likely to feel a strong connection.
For example, a company that emphasizes its commitment to "Benevolence" by engaging in charitable activities or supporting social causes may attract customers who share these values. This alignment fosters a sense of shared purpose and can lead to long-term brand loyalty.
Tailored Content and Messaging
Schwartz's Universal Personal Values also guide the creation of content and messaging. By tailoring your marketing materials to align with your target audience's values, you increase your campaigns' relevance and effectiveness. This means crafting content that not only showcases your product or service but also highlights how it aligns with the values that matter most to your customers.
Enhancing Product Development
Understanding the values of your target audience can also influence product development. By incorporating features or attributes that resonate with the values of your customer base, you can create more appealing products that better meet their needs.
In the world of marketing, Schwartz's Universal Personal Values are a powerful tool for gaining a deep understanding of your customers. By incorporating these values into your customer psychographic analysis, you can segment your audience effectively, build emotional connections, tailor your content and messaging, and even enhance your product offerings.
Mnemonic AI thrives on helping businesses to understand their customers better. We incorporated Schwartz's Universal Human Values as an analysis in our psychographic segmentation.