Tag: Census Bureau

The Advantages Of Demographic Report Data In Your Marketing Plan

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Demographic information is easily accessible and it is based on information collected by the Census Bureau. If you are conducting research to start a new business or to enhance your marketing strategies then you should use this information to your advantage. It will help to ensure your efforts are going to be a success with your target market. Failing to use demographic report data can cost you time, money, and sales.

There is a significant amount of data you will be able to use for your marketing plan with a demographic report. It is going to tell you the ages of the people in that area, their level of education, and their income range. What you are marketing has to be something that these people are going to want. Taking their demographic information into account can help you find the right way to promote it by appealing to their emotions.

Rather than investing your time and money in a new business, opening the doors, and no one comes, you need to use the demographic information that is available. It will provide you with significant information on the trends and lifestyle of those in the area. This is even more important if your business sells goods or services that are considered to be luxuries instead of necessities. If the demographics tell you this is an extremely poor area then chances are not too many people will be coming to purchase what you have to offer in that area.

This is why you find certain types of businesses are able to thrive in any given location. They have the demographic information and they use it for effective marketing strategies. You will also find that some locations have one failed business after another. This isn’t due to a lack of skills or dedication on the part of the business owner. The fact is that the demographics of the area just aren’t parallel to the types of businesses being offered.

The use of demographic report data for marketing purposes has declined in recent years due to the popularity of online businesses. Since they are selling goods and services on a global scale, it doesn’t matter about the demographics because they aren’t selling in a particular area. They can sell it to someone that is 100 miles away or 10,000.

However, for traditional businesses that rely on people in the area being able to come in to make a purchase this type of information is very important. Starbucks is one of the leaders in the coffee industry. You may have noticed that their locations are always extremely busy.

One of the main reasons for this is that they engage in demographic report data analysis. They know the age group of those that are likely to drink coffee and they know the locations where those in that age group are likely to work. These are heavy foot traffic areas too so they can get sales from people going to work or taking a walk on a daily basis.

Marketing To Baby Boomers – How Do You Know What Products To Choose

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Marketing to the Baby Boomer Generation is a smart move. This is a much sought after demographic for many reasons. You may already have some success marketing to Baby Boomers, but you could have even more success with a little adjusting. Why? This is a huge demographic encompassing everyone born between 1946 to 1964. With that many age groups, how do you focus your target audience? You need to narrow this group to get real market appeal.

The United States currently has an aging population. We know this from any statistics you care to read at the U.S.Census Bureau. The problem with lumping the Baby Boomers into one marketing group is obvious when you look at the spread of years that are commonly used to describe this period in America’s history; the period post World War II.

Consider that in the year 2010, people born during the baby boom were anywhere from 46 to 64 years old. That difference in age is a difference in life experience – that can be considered an entire generation, and often is.

If you search the term “baby boomer” you will be marketing to a group of people who have been lumped together by an arbitrary measure of time. Can you afford to waste your time marketing to this one, vast group of people with the same product? A 40 year old will buy a different product than a 60 year old.

For instance, if I click on a website that sells products marketed to “baby boomers,” and those products are for retired individuals, I may be turned off immediately if I’m in my 40’s busting my hump every day trying to earn a living. Vacations, cruises, or other luxuries of time may not appeal to the person in their 40’s who is granted only two weeks vacation every year, has kids at home, and possibly are putting kids through college.

Now, say I click on a website for Boomers about beauty products. If I’m 60 plus years old I want moisturizes and sun protection. But if I’m in my 40’s I may be more tempted by products that promise anti-aging and wrinkle reduction. You have to know who you’re talking to!

It’s time to get to know your market. Perhaps you need to drop the whole “baby boomer” reference in your marketing strategy. What target are you trying to sell to? What age group will your product benefit? It’s fine to use the term Boomer when referring to nostalgia, but not when referring to a product. Who is your audience?

So, yes, use the term Baby Boomer Generation when you want to talk about something from your past… a little nostalgia is great. But, when your product will help someone in their 40’s, it may be wrongly marketed to someone in their 60’s.

If you are 46 years old and you receive a product endorsement for Medicare Supplement Insurance how would you feel? I guarantee the name of that product, and your name, would forever be thought of as untrustworthy and an unreliable source. Take a lesson from AARP – that letter comes almost exactly on your 50th birthday. They are not sending them out to a generic Baby Boomer demographic.

It’s often said that when you’re writing something for many people to read, “write for one person.” I must add, “sell to one person.” Know the one person you are marketing to, and not just some arbitrary demographic. Your product, and you, will be rewarded with the trust and esteem of your audience – and, hopefully, customers.

Time for some action! The Baby Boomer Generation references should be dropped from your marketing strategies. We are NOT one age group. This demographic is confusing at best and using this generic term won’t help you market to the so-called baby boomers. People in their 40’s, 50’s, and 60’s don’t want to be lumped together anymore than someone in their 20’s wants to be grouped with someone in their 40’s. You are marketing to a very different group of people, so treat us as individuals. Once you do, you’ll earn the respect of all of us Boomers… of every age!