Much of the marketing technology vendor landscape out there includes platforms tracking customer behavior habits. When they make purchases. How. Where.
A software provider out of Cambridge, Mass., believes it has the answer a question those vendor platforms can't: Why?
Why do customers make purchases? What's their motivation? What are they thinking?
TipTap Lab, a 12-employee organization, announced last week the release of what it calls Psychology API, a data collection platform that allows developers to capture and measure psychological data to personalize customer interactions. They hail it as the first API to collect complete psychological profiles of customers, including personality traits, values, expertise, tastes and preferences.
The platform is new for the company and represents four years of psychological research and leverages more than 60 years of psychology data and research by others, Dan Cudgma, president and founder of TipTap, told CMSWire.
"TipTap Lab's Psychology API allows companies to directly capture and measure psychological traits of people and brands," Cudgma told CMSWire. "Psychological traits can be used to derive consumers' nonconscious motivations driving behavior. Our psych data captures what is often seen as unobtainable — why users do what they do."
The more common approach by marketers today, Cudgma added, is tracking behavior to understand what they do.
"Understanding why users do what they do in a quantitative and objective way provides clear, actionable insight into personalizing user experiences," he said.
Benefit to Marketers?
So how can a marketer derive relevant material from such a platform?
By capturing the "nonconscious motivations" that drive user behavior within each of their segmentations, Cudgma said. This, he added, provides the opportunity to better personalize user experiences.
As an example, Cudgma cited product reviews. TipTap Lab's Psychology API would only show reviews from others who share a given customer's tastes and preferences.
"More importantly," Cudgma added, "once these motivations are captured, they can be primed and activated to achieve desired results, such as improving email communications — open rates, click thru rates and purchase conversions — or product recommendations, increasing purchase conversion rates."
How it Works
Pricing starts at $99 per month for basic features and goes to $1,499 for a "gold" plan.
It is built around TipTap's "Image Selection Tasks," which TipTap says is an "engaging, game-like way of collecting psych data." It scores personality traits and ultimately gives marketers an assessment of a customer's psychological profile without exposing any personally identifying information, TipTap officials said.
The release of the platform this week hasn't exactly lit up the Web outside of the pick-ups of the company's press material. However, a quick peek of the API landscape didn't reveal much in the way of a "psychology API."
Asked what makes his platform unique, Cudgma said, "We don't focus on the 'what'?" Cudgma said, adding his platform gets at the "why" by extracting data relating to motivations and personality traits.
Title image by ra2studio (Shutterstock).
- A Graceful Exit for Box?
- Facebook Shuts the Gate on Likes
- Has Google Delivered a Killer Blow to Microsoft Office Apps?
- 7 Traits of Highly Effective Social Business Initiatives
- Manage Inbox Overload with In App Collaboration
- Gartner Names 7 'Hype Cycle' Technologies
- DAM Confusion in the Marketplace