Still focused on using demographics to guide your advertising strategy?
Take a step back from your business for just one second and ask yourself just how ridiculous that strategy seems today.
Not sure what I am talking about? Take a minute to think about your friends.
Take three similar-aged friends and compare them. It’s likely that one is athletic, a fitness buff and very active in their personal life. The other may be an intellectual, more of a loner, and focused on learning. The final one is involved in family at this point, with no time for themselves or their own needs.
The point is, those three friends aren’t the same people. They may be the same age (demographics) but:
- they don’t have the same interests
- they are not at the same point in their lives
- they don’t have the same buying patterns
Yet some marketers will attempt to convince you that buying demographic reach is still an effective tool in marketing your product.
In response. let me propose something…
The introduction of social media, online marketing and social media marketing has changed how we reach potential clients. We don’t have to pay to place ads anymore. And we no longer need to lump potential customers into age, gender and income categories. We can reach them in different ways.
We would suggest that you should now be targeting consumer “buying habits” – because we can identify who they are and what they individually prefer. For example, sending me an ad for a cruise because I happen to be in a specific age category is a waste – because I despise cruises, and I am more interested in experiential trips. As a marketer you would be aware of my individual buying habits and preferences if you took advantage of the online tools that are now available to you.
Today buying a reach of 100,000 readers in the paper or 40,000 per quarter hour – based entirely on demographic categories is not necessary (although those traditional options can provide “support” to your overall campaign). You can now find the people that are predisposed to your product or service, and send them much more targeted pitches.
It’s a bit more work, but the process is cost effective, and in the long-run it will be significantly more effective for your business.