There are dozens of individual considerations that must be made when devising any successful marketing strategy. You need to consider the ad copy that you’ll be using, who you’ll be targeting, how you’ll be targeting them and where you’ll be spreading the message. These broader concerns – and many others – determine whether or not a particular advertisement or marketing effort succeeds or fails. While there is much to consider, nothing is more important than understanding your audience or demographic. If you’re still unsure why so many marketers spend ample time and money on understanding their demographic(s), then continue reading to find out more.
Demographic Knowledge Increases Sales
The first and most obvious reason why it’s crucial to understand your customer demographic in marketing is the effect that it can have on your bottom line. For instance, Eventige uses customized demographic profiles to determine exactly how each segment of an audience needs to be targeted for maximum profit. Not all potential customers within a particular niche are equally likely to find value in your product at first glance. In order to better understand how to appeal to these hard-to-reach types, a deep understanding of their demographic characteristics is necessary. Once you’ve collected this data, it then becomes easy to target individuals via advertising based on particular interests, whether you are using email marketing, social media or some other medium. The creation of customized messages, landing pages and pitches can allow for higher conversion rates, which means better performance overall.
Demographic Knowledge Can Broaden Product Appeal
Your product or service may already have a devoted fan or consumer base. This doesn’t mean that you’ve reach the mountaintop; in fact, you’re merely at the foothills. Marketers who understand their audiences learn about plenty of secondary attributes relating to their preferences. For instance, a popular hat company may discover that its demographic is highly athletic. As a result, the company begins to shift production toward a line of athletically-designed headwear options that will further appeal to consumers both inside and outside of their current target demographic. Especially when using various forms of A/B testing to target particular niches, the more information you have available to use as the basis of your campaigns, the better the overall result.
Demographic Knowledge Can Save Money
Let’s face it: marketing is expensive. Very few brands generate enough enthusiasm and brand recognition to rely on organic marketing alone, which means that budgeting for ads is an absolute necessity. When you have a wealth of information about your target demographic, you can more effectively deploy advertising without wasting money. For instance, if you have information that suggests 25-34 year-olds do not respond well to your product or service then you can exclude this specific age group in all advertisements via search engines, email and social media. This will leave you with more funds to focus on other segments of your audience.
Having a greater knowledge of your audience demographic can help save money, broaden product appeal and increase sales. Share with us below a tactic you’ve used to make marketing more efficient.