Thanks to big data and predictive analytics, today’s marketers can anticipate the future actions of consumers and increase their chances of enticing a purchase. Predictive models and data products are developed based on the raw, known data of past events, giving analytical marketers the ability to identify trends in the ‘who’, ‘what’, ‘when’, and ‘where’ of consumer purchases.
But, with no additional context, these predictions fail to answer perhaps the most important question of all time – why? After all, there is a ‘why’ behind every bit of known purchase data.
However, a lack of quality research on consumer motivations and how they affect decisions leave marketers asking themselves, “Why do individual consumers make the purchase decisions they make?”
AnalyticsIQ is excited to announce the release of MotivatorIQ, a comprehensive collection of predictive decision drivers based on reliable psychological data and AnalyticsIQ’s proprietary mix of sophisticated analytics. Through a joint venture with behavioral psychology data firm OpinionSavant, AnalyticsIQ is able to provide deep psychological purchasing insights for several fundamental behavior motivation categories with MotivatorIQ.
One’s motivation is simply the reason and driving force behind their decisions, actions, and behaviors. Although this may be a basic definition, it is still easy to understand how data on consumer motivations can be leveraged for marketing. MotivatorIQ’s set of decision-driving factors delivers a wealth of knowledge on the degree impulsiveness, conscientiousness, materialism, tech adoption, donor behavior, and risk-taking behavior influence individual consumer decisions.
The root of decision-making is information processing. Different people require different amounts of information, time, and thinking to make determinations.
Conscientious consumers need value and information before even considering making a purchase. With that insight in mind, marketers can craft the perfect message to appeal to the logical minds of those identified as conscientious.
Believe it or not, a lot of psychology goes into the decision to donate. The complex nature of requesting and giving donations presents nonprofits with unique challenges such as, how might a nonprofit’s donation acquisition strategy vary to appeal to consumers with differing donation motivations?
For example, intrinsic donors do not donate to be recognized and often prefer to remain completely anonymous. Clearly, potential donors with intrinsic motivations would appreciate specific types of offers or expressions of gratitude.
Technology seems to advance at the speed of light in the 21st century. With new offerings popping up nearly everyday, how can consumer possibly keep up?
Although some may find it difficult to keep pace with technological advancement, many do. These innovators stay abreast on the latest technology and are quick to adopt and frequently use new products. For some companies, innovators are the only consumers worth contacting.
The significant, consistent features of each predicted category provide data-driven markets with actionable intelligence to greatly enhance their targeting, content, predictive analytics, and overall marketing effectiveness.
MotivatorIQ In Action
A top marketing agency collaborated with AnalyticsIQ to test a distinct email campaign targeting 250,000 prospects. A unique message and subject line was written based on Conscientiousness. 150,000 prospects that MotivatorIQ identified as conscientious received the email tagline, “Client Has the Highest Customer Satisfaction in the Industry.” 100,000 additional, random prospect received the same email and subject.
The prospects predicted to be conscientious had a 23% higher click thru rate than the random sample.
MotivatorIQ is the most accurate and actionable consumer motivation predictor, and the results speak for themselves. Contact us today to learn more about all the profound psychological purchase insight MotivatorIQ can add to your marketing.