Psychological tool for dealers can drive positive engagement with buyers
A team of psychologists at Cambridge Psychometrics Centre have developed a cutting-edge tool that could prove a huge boon to the automotive industry, helping dealers take advantage of highly targeted marketing techniques, says Automotive Online (AM Online).
Lead developer Vess Popov will present the tool, called Apply Magic Sauce API, at the AM Digital Dealer conference on 15 September, and will tell delegates that the technology is a powerful prediction engine that turns people's social media activity into accurate psycho-demographic profiles.
The tool is able to harvest psychological profiles from people's social media footprints and combine insights across a range of communication channels – something that spells enormous potential for the automotive sector.
What it means is that advertisers and marketers will be able to target highly specific content based on personality-driven keywords and deeper insights into individual motivations.
Popov is researching how online behaviour and social activity impact car-buying decisions and will present his findings at the AM event.
He said psychological profiles can help retailers create extremely personal and compelling messages, which in turn will help brands "create greater affinity with their customers".
The tool goes further, he continued. With it, brands can tailor their messages according to personality type. "For example, looking within an audience that we have identified as being most likely to be interested in a particular make or model, we can craft one message that appeals to well-organised people and another that appeals to spontaneous people," Popov explained.
This not only improves buyer experience but also drives business results by maximising positive engagement,he added.
"Demographic targeting has been around for a long time and has become increasingly sophisticated over the years, but the psychological element is still missing for the most part. By combining both, retailers have a very powerful way of understanding the consumer and thereby finding the best way to communicate with them."