How retailers can find their best customers: An excerpt from “How to Advertise Your Retail Business.” You can get the full report mailed to you by calling 303-333-4453 along with links to a video seminar worth $500.
“Your marketing techniques drastically increased our customer base. Your consultant devised a new marketing approach for us that should enable us to get better results, and better market penetration, from our advertising budget at half the previous cost.” ~G.A. Wright Client — Susan Simpson
Demographics are socioeconomic characteristics pertaining to a geographic area, such as a county, city, or zip code. For example, the average income of all people living in a county is a demographic characteristic of that county.
An analysis of the demographic characteristics of your market area may be an important consideration when making advertising decisions, depending on your store and product mix. If you sell merchandise that everyone buys like soap and toothpaste, then demographics play a less important role. If you sell fur coats or Rolex watches, then demographics are probably more important, because they help you identify your target market – the people most likely to shop in your store.
Demographic information includes:
8. Home Value
11. Marital Status
12. Ownership (home, car, pet, etc.)
Demographic analysis is surprisingly easy if you have access to a large national database that compiles this information from phone books, census data, real estate records, auto registrations, and other such data sources. Since my company uses this information all the time, we have access to online databases that enable us to do detailed analysis for our clients.
To briefly explain the way it works, we enter the address of a store location. Then, the computer scans the area around that location using a radius we specify, generally between 2 and 5 miles, and accumulates all of the demographic information in the database for the relevant geographic area. We can then print out the information in a report, as well as generate a map that allows us to locate the store and neighborhoods surrounding the store.
We can look at different demographic characteristics down to the carrier route level. A carrier route encompasses the addresses where mail is delivered by one mail carrier. People living in a neighborhood tend to have similar income levels and similar buying habits. Therefore, if you can map the area surrounding a store and then geographically determine which areas are more or less likely to contain your customers, it makes decisions about advertising much easier to make. Direct mail, newspaper, flyer distribution, and outdoor advertising can all benefit from demographic information.
Please contact our office to receive an email or mailed copy of the full “How to Advertise your Retail Business” Report at 303-333-4453 or email firstname.lastname@example.org