Even with the best products and services, any business without effective marketing can find itself dead in the water. And marketing is only as good as its application and its relevance in the eyes of the consumer it targets.
To engineer the perfect marketing strategy, you must first fully understand your customer base.
Demographic data is critical to identifying your average customer and using that data to strategically focus your efforts. You don't have to exclude markets that don't embody your ideal customer base, but you can use every marketing dollar at your disposal to target your most enthusiastic consumer—the customer most likely to convert from a window shopper to a purchaser.
Examples of Demographics
Although demographics are often used to identify business opportunities and build business plans, this information is also gathered, analyzed, and applied at any given time throughout the lifecycle of a product or organization.
Demographic data can include age, income, gender, marital status, household members, religion, nationality, education, and location, to name a few types of data.
Let's take a look at some examples of demographics and how they may affect the purchasing habits of your consumers.
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