Important Customer Demographics You Need to Know
Important Customer Demographics Facts To Know
Have you ever offered your product or service to the wrong people, or at the wrong time? Answering the three important customer demographics questions: who, what, and when – is essential to the survival of your business.
What is the best way to answer these questions?
What Are Customer Demographics?
Demographics are the process of describing, measuring, and putting people into categories. Why? Only certain categories are more likely to buy your products or services. Instead of wasting money on marketing to everybody, you only focus on the categories of people who are your most likely buyers.
Here’s an Example
For example, which gender will buy more issues of the magazine Men’s Health? Which gender will buy more women’s hoodies? Which age group is most likely to want hearing aids? What about skateboards? Which income group is more likely to buy luxury cars?
How To Find Them
A small business with 10 customers has only limited information. Will all their customers be similar to those ten? Or might they find a whole new market with people totally unlike their 10 customers?
Even if you have only one customer, it’s useful to extrapolate and predict what more customers will be like and what they will want. Even with one buyer, it’s possible to make a customer “avatar” or list of characteristics for your ideal customer.
However, the more people you have information about, the more targeted you can make your offers.
Customer Demographic Information
This is exactly what you want to do: make your offers more targeted. The more specific you are, the more sales you’ll make.
For example, which will people buy more of? Will it be a package that simply says “dog food” or a package with wet food for Chihuahuas over 10 years old that have hypoglycemia?
True, there are far more people who want dog food than some specific Chihuahua food. However, if you only sell generic dog food, you’re competing with all the other sellers out there – and you’ll sell less.
You’ll sell far, far more by being specific.
That’s why you want to know people’s address, income level, political preferences, hobbies, interests, marital status, religious beliefs, even their brand of cell phone. All of these can strongly affect people’s buying decisions.
Not only do you want to answer “who” and “what” but you also want to know “when.”
For example, more people might stop by a local coffee shop on Thursdays than on Mondays. Not only that, more of these people stop by certain shops than others. If you sell coffee in the area, how could knowing this help you?
The inertia of one company’s marketing efforts can affect the timing of others in their industry. In October 1933, the White Star Cafeteria started running ads in the El Paso Herald-Post that they were selling tacos on Tuesday. Fast forward to today and you’ll find in many places, restaurants still sell more tacos on Tuesday than other days of the week.
Yet timing your offers is not just about days of the week. Think of the important events in someone’s life. If a family all of a sudden starts buying diapers, what else might they likely buy?
Experienced marketers can provide you with Insight Reports – documents that can describe your customer’ behaviors and key demographics. This is how you can quickly understand your audience, successfully guide your clients, and even learn more about your competitors.
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