Big data — and the deluge of online information — provides more information about potential customers than ever before, including detailed statistics on everything from median income to religious affiliation.
Understanding Target Markets
Demographics, as every marketer knows, refers to the statistics used to characterize the human population — everything from age, sex, gender, race, income, employment status and location. Companies have long used these factors to develop marketing strategies that resonate with their target audiences.
But now demographic data is deeper, more focused and easier to obtain than ever before. And it all makes marketing strategies based heavily around traditional metrics like age seem so last century.
Big data is providing more interesting statistics to explore. For example, Geoscape, a provider of business intelligence technology, data and analytics, just released ReligionCode. The new data offering provides marketers "unique access into sophisticated and targeted data on the religious affiliation of populations across the country," the company boasts.
Geoscape also provides marketing data on the fastest growing populations in the US, which it defines as people of Latin and Asian descent, explained Cesar Melgoza, Geoscape founder and CEO said in an interview.
But the detailed information on religious affiliation is something new, he said. The customer enrichment file covers the thirteen most popular religious affiliations including Protestant, Catholic, Eastern Orthodox, Greek Orthodox, Jehovah Witness, Historically Black Churches, Mormon, Jewish, Muslim, Buddhist, Hindu, Shinto and Sikh denominations.
Geodemographic religion populations — based on the idea that people generally live in proximity to other people who are demographically similar — include five groups: Catholic, Jewish, Muslim, other Christian religions and "other" religious denominations.
This data can be used to code customer information files, direct marketing lists and as a geographically-referenced population database from neighborhood to metro market and county levels of geography. "We can take a company's list and assign religious affiliations to them based on their last names and addresses," Melgoza said.
Melgoza said that data is especially relevant during the holiday season. Marketers of consumer goods, retailers and grocers can use it to assess the market potential for specific goods and services that relate directly to various holidays, religious seasons or celebrations by trade area or most any geographic boundary.
While this kind of marketing may seem obvious, many companies fail to use it effectively, he said. The categories are often too broad, Melgoza said, cited one large grocer that simply identified an aisle of traditional Mexican items as "ethnic food."
Census Data on Your iPhone
The US Census Bureau is no stranger to demographic data. It's been conducting decennial counts of the US population since 1790.
Now it's making more of that data, as well as information from the ongoing American Community Survey (ACS), more easily accessible to everyone from marketers to people planning to relocate.
Take, for example, a recently released app called dwellr, which provides personalized access to the latest demographic, socio-economic and housing statistics from the ACS for neighborhoods across the nation.
In a US Census blogpost, Stephen Bruckner explained:
Dwellr allows for quick and easy access to information to help make the decision, including the ages of residents, how many families have children, median income and housing costs. Dwellr allows Apple and Android smartphone users to explore a range of questions making it a powerful tool for homebuyers, members of the military being deployed domestically, real estate agents, new businesses and teachers helping students learn about their communities."
- 5 Tech Trends We'll See More of in 2014
- Navigating the Microsoft Forms Roadmap #SPC14
- SharePoint Conference Keynote: Releases and Roadmap #SPC14
- The Future of Collaboration Isn't What It Used to Be
- Deep Dive Into Oslo and Office Graph #SPC14
- 5 Things to Lessen Your Anxiety About Big Data
- Does Dropbox for Business Have a Secret Weapon?