As a marketing agency, we know companies are looking for a way to stand out from the crowd and be heard. We want to make that happen for you. The use of demographics in market research is the first step to help you grow your business. So, why are demographics so important to understand? Keep reading to find out!
What Are Demographics?
If you are not familiar with the term yet, Mirriam-Webster describes demographics as “The statistical characteristics of human populations (such as age or income) used especially to identify markets.” Examples of demographics may include:
- Family/marital status
- Geographical location
- Education level
- Income level
Marketing Demographic Groups Explained
It’s important to look at demographics when creating what you will consider your “target demographics.” Here at Symboliq Media, we can help you find the best market segment for your company. Let’s take a look at a few important demographics:
Possibly the most important of demographics when doing market research is age. Why? Because each generation/age range has different spending habits, interests, and ways they consume media.
BigCommerce states that baby boomers have different habits in how they use technology and spend money. They typically don’t respond well to slang terms and usually prefer facebook to other social media.
Millennials, on the other hand, use online platforms to purchase, communicate, and review purchases. PewSocialTrends states that millennials are also more willing to wait on marriage and are more likely to live with their parents longer and are more educated than that of previous generations.
As a Marketing Agency, we dive deep into the target age range, since these are extremely important insights to incorporate into your marketing strategy.
Family is another demographic businesses should be looking at. Not everyone has a cookie-cutter family with pets included. Lot’s of families could include single parents, adopted children, empty-nesters, big families, or even just friends living together to name a few. When thinking of a product, think about family needs and how your business can help make those needs more convenient. For instance, Costco offers items in bulk, so big families would be the perfect target market. Online meal programs are also perfect for family sizes from 1-4 as they are pre-made meals or recipes that are quick for working families.
When conducting market research, it is essential to look into the geographic location of where you want to market your products or services. Not all areas of the world offer the quickest internet, chain stores, or even local stores. Rural residences usually have to drive further distances to get to their shopping district and have slower internet speed. They are more likely to visit chain stores like Walmart or go to a local farmers market. Suburban areas are the middle of the road, they usually have access to the internet, have plenty of shopping options, and can enjoy the local shops downtown. Urban areas, like big cities, are quite compact and more people walk than drive. They are more likely to visit stores within walking distance from their apartments and get enough items that they can comfortably carry back on a bike or in-hand. If not, they can easily purchase things, like groceries, online with platforms like Amazon Fresh.
Geographical location also offers different advertising options. Rural areas offer plenty of spaces for billboards and road signs. Suburban areas can advertise with a downtown bulletin board, television, and paper ads. Urban areas may offer moving ads like those seen in New York’s Times Square. Make sure you pick one that works best for reaching your target demographics.
Why Are Demographics Important For Market Research?
Demographics can tell you a lot about your target market. Demographics help you find how, when, and where your target market is searching for your products or services. This will help guide you towards the perfect advertisement for your products.
Finding Your Target Demographics
Collecting all your information can help you delve deep into finding your target demographics through market research. Let’s say your demographics include a young adult, just married, with a baby on the way, who lives in an apartment. These target demographics may be more likely to purchase products that help with pregnancy, are convenient for a first apartment, or that follow younger trends. Healthy Mama Brand is one of our clients that focuses on this for example. They offer safe, natural pregnancy products to keep moms healthy all throughout their pregnancy.
Demographics In Action
Now that you’ve developed your target demographics, let’s take a look at how to use these demographics in action to help you reach that audience across a multitude of mediums. Here are a few ways using demographics in market research are put into action in the real marketing world:
Social media marketing: when looking at different platforms for your social media accounts, keep your target demographics in mind. For example, Pinterest is about 80% female and the majority of Pinterest users are 25-34 years old. You’ll also want to keep your target demographics in mind as you create content for your company.
Digital advertising: when setting up ad campaigns, you’ll need to enter in many target demographics to reach your target audience with ads. Knowing these target demographics can not only help you make the most of your ad spend but also will generate more leads for your business.
Imagery: creating content for your demographics is no easy task, however, you’ll want to keep these demographics in mind when creating imagery on all platforms. If your target audience consists of a 27 year old female who is getting married soon, you won’t want to produce imagery of a retired male.
Print advertising: Even though technology is what the majority of the population is now familiar with, print is still an option for advertising. Older generations may have difficulty navigating technology which means it may be easier to reach them through traditional print. Things like newspapers, flyers, and magazines are just a few examples of print advertisements you could customize for your target audience needs.
We’re Redefining What a Marketing Agency Is
Our marketing agency just gave a bit of a quick course in demographics and how market research could help in understanding the best audience for your product or service. Overwhelmed? That’s okay, we know that doing it on your own can take up a lot of time and energy that you could use for something else. Which is why our Marketing Agency would love to help you conduct market research, define your target demographics, and make your life easier so you can focus on the business side of things. Contact us today!
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