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Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
Eap demographics s2012
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Eap demographics s2012

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Helping Entrepreneurs Find and Use Demographics

Helping Entrepreneurs Find and Use Demographics

Published in: Technology, Economy & Finance
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  • Demographics is the “who”, Psychographics is the “why”
  • Helps to look at competitors and collaborators
  • Transcript

    • 1. Bob ScardamaliaRLS Demographics, Inc. March 20, 2012
    • 2.  Geography  Demographics, Psycho-graphics, and business data - why are they important  Define your ideal customer – who and where they are  Locate sources of demographic data  Navigate Census demographic and economic dataMarch 20, 2012 RLS Demographics, Inc.
    • 3.  Governmental Areas  States  Counties  Cities  Towns  Villages  “Places”March 20, 2012 RLS Demographics, Inc.
    • 4.  Statistical Areas  Metropolitan Areas  Census Tracts  Zip Codes  Congressional DistrictsMarch 20, 2012 RLS Demographics, Inc.
    • 5. Census TractsMarch 20, 2012 RLS Demographics, Inc.
    • 6.  “Demography is the study of the size, distribution, and composition of the population”  Size:  How large is my market (people/houses)  Growing/Shrinking  Distribution:  Where is my market located - geographic  Composition:  What are the important characteristics  Age, gender, race, income, educationMarch 20, 2012 RLS Demographics, Inc.
    • 7.  You’rein business to solve your customer’s problem  You need to deliver a benefit  You need to differentiate yourself  Understanding trends can help you:  Position your product  Tailor your service  Change with your customersMarch 20, 2012 RLS Demographics, Inc.
    • 8.  “The measurement of attitudes, values, lifestyle, beliefs, buying habits and opinions” Interests, Activities, Opinions  Variation even within demographic groups  Everyone doesn’t think the same!  Wants and desires:  Trends, the influence of advertising  How and why people buy:  What motivates people to buy your product or service  Market segmentation:  Based on geography, demographics, consumer behaviorMarch 20, 2012 RLS Demographics, Inc.
    • 9. March 20, 2012 RLS Demographics, Inc.
    • 10.  We can paraphrase and call business demographics the study of the size, industry, distribution, and composition of businesses  Size:  How many businesses  Competitors or Collaborators  Industry (SIC/NAICS):  What do they do (retail, service, const., manuf.)  Distribution:  Where are businesses located  Supplier networks  Composition:  Sales/revenue, employment, product typesMarch 20, 2012 RLS Demographics, Inc.
    • 11.  Male/Female  Is Age Important?  Baby Boomers, Gen X, Gen Y defined by their age  Single, Married, Children, Families  Income sensitive?  Educational Background  Industry characteristics  Growing or transforming  High-tech/Low-tech  On-lineor big box buyers  What others…?March 20, 2012 RLS Demographics, Inc.
    • 12.  Your neighborhood, regionwide, statewide  Walking distance to your store  Is drive time important?  Downtown location  Suburban mall, strip mall  Boutique shop  Where people live vs. where they work  Global Internet marketMarch 20, 2012 RLS Demographics, Inc.
    • 13.  The people/businesses who DO buy your product or service  You may not have much information – How do you get it?  Mail list sign-ups  Coupons/offers  Survey a sample of customers  Measure at multiple points in time to understand changeMarch 20, 2012 RLS Demographics, Inc.
    • 14.  Public – i.e. “free” U.S. Bureau of the Census (factfinder.census.gov)  Population estimates  Decennial Census  American Community Survey  Economic Census  Business statistics  Surveys  Consumer Expenditures  Computer usage  Time Usage  County/Regional Planning Dept.  Google!March 20, 2012 RLS Demographics, Inc.
    • 15.  Private – i.e. “not so free”  DemographicsNow (www.demographicsnow.com)  Population, industry, marketing reports  Subscription service to data updates  Nielsen/Claritas (www.claritas.com)  Media stats  Consumer demographics/psychographics  Buying habits  Environmental Systems Research Inc. (www.esri.com)  Mapping  Consumer demographics/psychographics  Buying habits  Forecasts  Market research firmsMarch 20, 2012 RLS Demographics, Inc.
    • 16.  The Census data comes from:  an enumeration like the 2010 Census just taken  a survey of the population  mathematical estimates of the population  It’s taken on the basis of housing address  It’s reported on the basis of geographic areas (like we talked about earlier)  To access the right data you need to think about:  the characteristics you’re looking for, and  the geographic area you wantMarch 20, 2012 RLS Demographics, Inc.
    • 17.  The 2010 Census  Basically a headcount of all residents  Very little characteristics detail  The most accurate population base  The American Community Survey  Detailed socio-economic data  Annual updates  Confusing results  Population Estimates  Best updates of the basic count data – but limited geography  Annual UpdatesMarch 20, 2012 RLS Demographics, Inc.
    • 18.  Taken every 5 years  count of businesses  Characteristics like employment, industry, sales  The most comprehensive business data  Other establishment data  Establishments versus business  Based on surveys and administrative records  Usually annual updates  County/Zip Business Patterns  Establishments by industry  Basic characteristics  Non-employer statistics  Sole proprietors – businesses with no employeesMarch 20, 2012 RLS Demographics, Inc.
    • 19. March 20, 2012 RLS Demographics, Inc.
    • 20.  CapitalDistrict Regional Planning Commission www.cdrpc.org  State Data Center www.empire.state.ny.us/NYSDataCenter.html  Small Business Development CenterMarch 20, 2012 RLS Demographics, Inc.
    • 21.  Demographics define the “who” of your market and customer  Psychographics define the “why” of buying desires and habits  Pay attention to geographic distribution of your market and customers  Learn how to access demographic data and profile your marketMarch 20, 2012 RLS Demographics, Inc.
    • 22. Bob Scardamalia P.O. Box 160 Rensselaerville, NY 12147 (518) 703-0724 (cell) (518) 797-3163 (home) bob@rlsdemographics.comMarch 20, 2012 RLS Demographics, Inc.

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