Leveraging Psychographics in the B2B Industry For Hyper-Personalised ABM

Aligning outreach with customers' values and interests sets the stage for deep connections and enduring relationships.  Since B2B purchases are collective decisions made by a core buying group, the use of psychographics to engage individual decision-makers in the group is a breakthrough novel approach. Read our latest blog post to explore how to use psychographics to influence buying behaviour through hyper-focused account-based B2B marketing.

B2B is a complex arena. The rules are different. "B2B deals of any significance are bought by cross-functional teams, not individuals.” says a Gartner report. Additionally, selling to such teams can be tough to navigate given that the average tech purchase involves between 14 and 23 people, the majority of whom (80 percent) are in senior operations or product roles. And, as the spend increases, so will the size of the buying team."

In this scenario, a proven way to succeed in the B2B world is for businesses to dig deep into the emotions that influence buying behaviour. Psychographics in this context, plays a crucial role in uncovering the underlying attitudes, motivations, and lifestyles of stakeholders and paving the path to understanding them on an emotional level. Psychographic insights develop customer intimacy building trust and sustainable relationships.

What is Psychographics?

Psychographics is the study of the psychological traits of consumers. In the context of marketing strategy, it “focuses on exploring patterns in consumer behaviour, preferences, and habits. It looks at the emotions and values that drive consumers; it delves into their desires, interests, goals, and lifestyle choices. Through psychographics, we learn what to expect from a consumer”.

Psychographics in ABM, when harnessed for hyper-personalized nurturing campaigns, goes beyond pure-play marketing strategy. Customized communication strategies and meaningful interactions result in rising conversion rates. The approach extends beyond traditional marketing dialogues with tailored messaging that resonates with individual preferences and behaviours.

Understanding your clients well is the ultimate form of customer-centricity and the key to forming strong relationships that stand the test of time.

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Demographics vs Psychographics

Demographics is one way of understanding your clients, but it is becoming more crucial to connect better with clients by understanding their emotions, values, motivations, and other personal traits.

Diana Zheng, Head of Marketing at an e-commerce shipping service, said: "One of the keys to our success is understanding that psychographic data goes beyond demographics.  "By understanding the motivations driving customer behaviour, we've been able to personalize our services and communications in a way that speaks to them on a much deeper level.

The Complexity of B2B Purchase Decisions

B2B purchase decisions are often big-ticket items with long-term commitments. These impact multiple people and departments and there is pressure to ensure clear ROI and lasting value. Group dynamics are at play since the purchase decision demands buy-in from a mixed group of stakeholders.

Each of these members has a different perspective and reason for approving or blocking the purchase decision and their priorities, motivations and personalities play a role in the final decision.

Even within the same account, sellers need to address the diverse needs by aligning their value proposition to match each stakeholder’s interest and concern within the target account.

What are Buying Groups in the B2B Context?

In a B2C transaction, it is most often a single person who makes the purchasing decision. But in B2B, it is a buying group that decides to purchase a product.

A buying group involves multiple stakeholders, including decision-makers, influencers, gatekeepers, purchase team members, and end-users. In other words, a collective decision is made in the buying group model of a B2B purchase.

The Dynamics of Making Decisions Within Buying Groups

Different dynamics come into play in a buying group since several stakeholders are involved in the purchase decision.

For instance, a stakeholder in the finance department could raise concerns about the purchase cost. In contrast, someone from the IT department might be concerned about the technical compatibility of the product under consideration.

Various other stakeholders will consider the pros and cons depending on which department they are from, and the decision to purchase a product will be a collective one.

Who Plays Key Roles in a Buying Group?

Decision-makers in a buying group usually include top management personnel, such as a CEO, chairman, or department heads. This person will likely have the final say on matters of purchase.

However, a decision-maker's final call will, for example, be based on the inputs and opinions of influencers and gatekeepers.

An influencer within the group is an individual who is well-versed in market trends and provides input and expertise to help the buying group arrive at a decision. A gatekeeper can be a person from the administrative or IT team.

While the administrative team staff manages schedules or prioritizes who should meet the executives, an IT department representative flags any potential security concerns that could lead to compliance issues.

Why are Psychographic Profiles Important?

A psychographic profile contains data on the interests, lifestyle, attitudes, and values, that drive individuals in the group.

Derived from publicly available data such as social media profiles, published articles and online activity, these profiles help identify personas and support targeted or tailored messaging that connects to a stakeholder on a personal level. Resonating with a stakeholder at the personal level could have a positive outcome on the business transaction.

These insights offer a greater understanding of what makes a customer want to buy a particular product, what value the customer sees in the purchase, and how they view a particular brand.

Using these a business can help tailor communication strategies, build emotional connections, and build trust.

How do ABM and Psychographic Data Complement Each Other?

Integrating ABM and psychographic data offers businesses a winning combination. It provides a customer-centric, tailored approach with the greatest potential to convert, retain or build loyalty.

ABM identifies the correct target companies and their decision-makers. Coupled with psychographics, and personalized campaigns in sync with the targets' likes, views, and emotions, guarantees better outcomes.

Discover how Think ABM can optimize your sales funnel and boost revenue growth.

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Why Psychographic Data Can Be a Deal-Clincher?

B2B purchases in the technology world usually involve high-value deals, whether it is for apps, software, or SaaS products.

With stiff competition among vendors to provide the best product, it becomes imperative to develop a close understanding and knowledge of prospective customers. A business that wants to sell its product must get down to the nitty-gritty about customers' likes and dislikes.

It is no longer enough to know just demographic data. Psychographic data provides the edge with insights into their personas enabling razor-sharp, focused marketing.

Knowing the intricate details of the customer's personal preferences and choices helps vendors tailor-make and personalize products making it easier to engage and since there is an emotional connect enhancing the appeal and value of the offering.

Ready to Transform Your B2B Marketing Strategy?

Harness the power of psychographics to elevate your B2B marketing efforts today. Our team of experts can help you build comprehensive psychographic profiles of your target accounts, develop personalized messaging strategies, and integrate these insights with your existing ABM framework.

Book a free consultation to discover how psychographic data can become your competitive advantage in closing high-value deals. During this interaction, we'll help you identify opportunities to create deeper connections with your prospects.

Don't just sell to businesses—connect with the people behind the decisions. Contact us now to start your psychographic marketing journey.