Tuesday, November 16, 2010

Who and Where are your Customers?

Who are you customers?

While researchers like to group people into demographic profiles, you need to realize that today more than ever, there is so much diversity that you need to be careful with the assumptions you make.

I'm going to share with you the individual profiles of some of my friends and co-workers:

1. Female mid-20's, no kids, no steady boyfriend, works full time, income $24,000.
2. Female mid-20's no kids, getting married next year, combined income $80,000.
3. Female mid-40's step-mom to kids in their 20's, combined income $75,000.
4. Female mid-30's married, 1 12 year old, 1 2 year old, 2 twin new borns, combined income $70,000.
5. Male early 50's, engaged. 1 daughter age 12, one soon to be step-son age 19, combined income $250,000.
6. Male early 50's married, 5 kids and stepkids all in their 20's, combined income $70,000.
7. Male late 60's divorced, 1 son in his 40's, semi-retired, income $30,000.
8. Male late 30's single, income $35,000.

These 8 people have one thing in common. They know me. I am an influence in their lives.

What stuck me was how all but number 7 are lumped into the advertisers sweet spot of Adults age 25-54, yet look at the wide range of differences. And I know that #'s 6 & 7 have more in common than #5 & #6!

Who is in the market for a new car? Well, in the past 2 years #2, #4 & #7 have purchased at least one new vehicle.

Who is living in a house vs an apartment?

House: 2, 3, 4, 5, 6.
Apartment: 1, 7, 8.

Who eats out the most? 6 & 7.

Who is using social media such as Facebook? 1, 2, 4, 5, 6

Who has the newest computer? 7

Who has the newest smartphone? 6

There is a tendency to lump people together by generation and the problem is that you lose out on inviting certain people to do business with you. Or you use the methods of advertising that worked 20 years ago and assume that method will work today.

I urge you to get as much information as possible about your customers and the people you want as customers and then you can begin to find out how to invite them to do business with you.

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