Marketing is a multifaceted discipline. Businesses can use marketing to compete in a wide array of fields: price, promotion, product attributes, etc. No matter what area of marketing your business chooses to focus on, it all revolves around customers.
The customer’s wants and needs is the ultimate driver for marketing decisions.
That being the case, information on customers is critically important. By knowing the age, gender, occupation, income or race of your target audience, you can begin to market to them correctly. These various pieces of information make up the idea of demographics in B2C interactions.
In B2B interactions, demographics are replaced with firmographics. Which involves sales volume, employee size, industry, etc.
The key to firmographics or demographics, is letting this information guide your decisions and overall marketing strategy.
Where Do Customers Come From?
The origins of how customers find/interact with your business is a great start in terms of understanding how to build your marketing strategy.
Are your customers finding you via social media? What platform? (And most importantly) Why?
For example, if you know most of your traffic is coming from Pinterest instead of Facebook, you can now start to tweak your social media marketing efforts to cater to that audience.
Note: More than 70% of Pinterest users are female and tend to be very product focused.
Do this same exercise with a physical location. If your customers predominantly live further away from your business, what is making them stick with your company? Is there a certain need you’re fulfilling better than others?
This could then uncover a new competitive advantage and a new dimension to your marketing!
(P.S. Turns out we’re pretty good at this type of analysis. Click here to learn how we could help!)
Are There Best Practices with Certain Demographics?
While it’s important to always look at how your customers respond to certain stimuli, it’s also worthwhile to be informed on how different groups generally respond to marketing efforts.
One of the biggest indicators? Age.
The age of your audience can drastically affect your marketing. Age tends to impact many different demographics, including: income, age, and education level.
Here are a few things to consider:
- Gen X (currently ages 41 – 56) react well to personalized email marketing and targeted reminders.
- Millennials (currently 24 – 43) enjoy marketing that focuses on ongoing trends and social media.
- Gen Z (currently 20 – 24) enjoy user-generated content and ethical business practices.
Identifying your customer base can be hard. Click here and let us help!
To wrap it all up, be aware of who your customers are. There’s a reason they like your business.
By serving the natural preferences of your customers you exponentially increase the positive opinions of your business, and the likelihood of them giving you even more useful data!
(P.S. If you want a condensed version of what we discussed above, feel free to use the IDS infographic below)