Are you a crazed sports fan, foodie, movie critic, or book lover? In society, many of us are broken into groups and categories, based on important information about us, as well as our likes and dislikes. Most people identify with these groups and categories. In fact, people pride themselves on having these characteristics, and it also brings folks together as … well, groups!
Such traits have become so embedded into our culture that often, they are passed down from parents to their children. For example, some families may be Chicago Bulls fans throughout multiple generations. These traits and behaviors can define demographic audiences, and these demographics offer valuable information.
According to www.merriam-webster.com, Demographics is described as 1: the statistical characteristics of human populations (such as age or income) used especially to identify markets. 2: A market or segment of the population identified by demographics. Information from demographics also includes basic personal information – everything from age to race, from gender to income, and much more.
Now, does this correlate with marketing? Yes indeed! Understanding your audience is extremely useful and allows for better time management in following leads. Every business has a customer profile, and understanding this profile leads to success.
There are many ways to conduct market research, whether you’re hosting a survey or testing a product in a specific region. In the process, you understand more about your brand awareness and reach. Collecting this data, and analyzing it to identify key aspects of your target audience, can be the most valuable information collected by your business.
To better understand your audience, it helps to use the “Big Six“ – who, what, when, where, why and how – as a tool to help identify your audience.
Who is the end-user, including current and prospective new clients. You should always be seeking new customers: if you are always pitching relentlessly to the same customers, it can tire them out, and ultimately, seem heavy-handed.
What answers the question: What variations of the product, or line of products, are available? Different demographics within the population of your potential buyers may need different types of products. An obvious example: men and women buy different sorts of shoes!
When covers the circumstances under which end-users need or want the product. What are the best times for maximizing your opportunities? Strike while iron is hot, as they say. Another obvious example: If you want to sell Christmas ornaments, do it before December 25!
Where can the product be found? Online, or at brick-and-mortar stores, and if so, which stores? It’s important to know where and how your target demographic likes to shop.
Why is your product better than the competition? Different demographics might appreciate knowing how it compares to similar products they buy.
How does the product work? This might seem obvious to the creator, but to the customer, it is very necessary. If the product is new to your target audience, it would be best to have a tutorial, such as a video, for them to view.
Understanding your target audience has many benefits. For example, marketing is an investment, and for good reason. It is a lot of work. Conducting research in identifying your audience offers a better return on your investment than assuming who might be buying your product or services. If you know your target demographic, then you know exactly how to strategize your marketing efforts.
The most important function of understanding your demographic is to increase sales and build a strong revenue stream. It really does pay to know what your consumers want.
Mickle Communications is a marketing and video production firm that truly cares about the success of your business. If you need assistance with your company’s marketing, be sure to contact us, so we can work together to meet your sales goals. Call 563-940-7875 or email firstname.lastname@example.org.