Analytics Tool for Sales #1 – Demographic Profiles

philippines-outsourcing-teamOne thing that amazes me is the lack of knowledge most sales people have about their current, former and potential customers. Who are they? Where do they come from? What do they look like? What are there habits? What appeals to them? These kinds of questions are often answered by personal observation. Most business owners and leaders don’t take the time to understand the demographic data of their market and miss key opportunities all the time.

According to Wikipedia, A demographic or demographic profile is a term used in marketing and broadcasting, to describe a demographic grouping or a market segment. This typically involves age bands (as teenagers do not wish to purchase denture fixant), social class bands (as the rich may want different products than middle and lower classes and may be willing to pay more) and gender (partially because different physical attributes require different hygiene and clothing products, and partially because of the male/female mindsets).

In short, every business owner and leader should have demographic data at their fingertips so they can analyze which customers are the most profitable and what they look like. Then its a matter of developing marketing schemes to attract more of them using the underlying data. Know your market and the markets around you.

There are numerous sources of free, publically available data available online. The US Census Bureau has one of the most detail collections of demographic data ever collected. As do other US Government Entities like the Bureau of Labor Statistics and the Central Intelligence Agency. There are also numerous organizations that supply global data like the United Nations, the World Bank and the International Monetary Fund. Many countries also publish valuable data on their websites like Central Banks and Government Statistics Offices. The Philippines in particular has some pretty solid data available to use for demographic profiling.

DMAI specializes is building demographics profiles based on your customer data and the public data about the markets your operate in. Stop guessing and minimize lost opportunities by working with DMAI to get your the demographic data you need to make more data-driven decisions.

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