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June 17, 2013

Marketing Beyond Demographics

There’s a difference between knowing your target audience and knowing your target audience.

It’s similar to the different levels of knowing your spouse—there’s the newlywed phase where you’re still learning that they sleep in their socks and hate lima beans and then there’s the been-married-25-years phase where you can be completely uninhibited and walk around in your undies.
As marketers, you should strive for the undies-level of knowledge of your target market. (No, we’re not saying you should show up to your next meeting pantless). But you should know them beyond simple demographics.

Demographics tell you their most basic information—age, gender, geographic location, etc.—and chances are, your business is already utilizing these stats on your existing customers.

Psychographics, however, delve deeper. Including information such as lifestyle choices, behaviors, internal attitudes, what motivates them to buy, psychographics give you insight into why they buy whereas demographics is simply who’s buying.

Utilizing a combination of psychographics and demographics allows you to create a richer brand experience for consumers.

How do you go about compiling psychographics? A survey is the easiest method. Send one out to your current available email list asking them questions such as:

  • What made them decide to buy your product?
  • What do they like about your competitor’s product?
  • What are their interests, hobbies or pastimes?
  • Are they extroverted or introverted? Analytical or emotional? Etc.
  • What kind of environment do they thrive in?

Other methods of obtaining useful psychographic information would include oral interviews, focus groups or employee observations. Pick the method that’s most effective for your company.

And remember, in using a combination of both demographics and psychographics, you’re getting a leg up on the competition and gaining a deeper understanding of your current and future clients. In searching for a deeper understanding of what makes your customers tick, you’re striving to maximize the potential of your business. The more you know them, the easier it is to allow your business to satisfy their wants and needs.