Psychographics Vs. Demographics: An Investor’s Hidden Edge
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Show Notes
A lot of people have probably never heard of psychographics and how it works hand-in-hand with demographics to go beyond the numbers, to paint a picture of WHY things and people move the way they do.
We take a look at what psychographics is, why it’s useful, and how you can leverage Psychographics to identify strong locations to invest, make your tenants happier and turn you into a better decision-maker.
See you on the inside!
In this episode, we cover:
- The etymology of demography & psychography and their differences [07:07]
- Emotions, not statistics, drive human behaviour [10:06]
- Is Psychographics more important than Demographics? [13:38]
- Gentrification contributes more to property price growth [17:11]
- A healthy economy is dictated by the speed money moves around [22:47]
- Mindset (confidence) dictates the health of the national economy [26:38]
- Look at both statistics and how people feel [29:52]
- Gauge how people want to live [34:53]
- Pay attention to what people want - they’re not just statistics [40:43]
- Find out the “why” when people move to an area [44:03]
- Language in the media drives sentiment [47:09]
- Psychographics is a marketing skill [51:43]
Links from the Show:
- Trading Economics Consumer Confidence (https://tradingeconomics.com/australia/consumer-confidence)
- Trading Economics Business Confidence (https://tradingeconomics.com/australia/business-confidence)
- Trading Economics Unemployment Rate (https://tradingeconomics.com/australia/unemployment-rate)
- Google Alerts (https://www.google.com.au/alerts)
Connect With Us:
- The Investor Lab Membership (https://theinvestorlab.com.au/jointhecommunity/)
- Dashdot Buyers Agents Website (https://www.dashdot.com.au/)
- Limitless: The Renegade’s Guide to Building Wealth Through Property - Goose McGrath (https://www.renegadespropertybook.com)
- Ready to work with us directly? (https://dashdot.com.au/discovery)
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