Eap demographics s2012

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Helping Entrepreneurs Find and Use Demographics

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  • Demographics is the “who”, Psychographics is the “why”
  • Helps to look at competitors and collaborators
  • Eap demographics s2012

    1. 1. Bob ScardamaliaRLS Demographics, Inc. March 20, 2012
    2. 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. 3.  Governmental Areas  States  Counties  Cities  Towns  Villages  “Places”March 20, 2012 RLS Demographics, Inc.
    4. 4.  Statistical Areas  Metropolitan Areas  Census Tracts  Zip Codes  Congressional DistrictsMarch 20, 2012 RLS Demographics, Inc.
    5. 5. Census TractsMarch 20, 2012 RLS Demographics, Inc.
    6. 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. 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. 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. 9. March 20, 2012 RLS Demographics, Inc.
    10. 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. 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. 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. 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. 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. 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. 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. 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. 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. 19. March 20, 2012 RLS Demographics, Inc.
    20. 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. 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. 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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