by: Tim Prugar (email@example.com)
In Childless Women to Marketers: We Buy Things Too, the New York Times points out that the overwhelming majority of marketing and advertising aimed at women is through the lens of motherhood: either being a mother, or aspiring to be. As Karen Malone Wright, founder of TheNotMom.com, indicates in the article, this advertising is towards two specific female demographics: "hot and single" or "a mom with more than one kid." This strategy stemmed from the traditional view of the mother as the individual who does the bulk of the purchasing for the household. The mother as decider, if you will.
However, as society shifts, so too does this "conventional marketing wisdom" about how to get the largest ROI on advertising and marketing efforts. As the Times notes, 15.3 percent of women in the United States are childless, and the percentage of women ages 15-44 without children increased from 2012 to 2014 (46.5 percent to 47.6 percent, respectively). This demographic shift was accompanied by a shift in spending patterns - according to a report by DeVries Global, cited in the article, childless women spend 35 percent more on groceries than women with children. Marketing and advertising executives who are unaware of this trend, and are relying instead on outdated schema, are likely leaving piles and piles of money on the table.
So which marketer are you? The one who relies on conventional wisdom that may not apply to your specific customers? Or the one who has taken the time to drill down and truly KNOW your customers? And if you're the former, how do you become the latter?
Keys to Marketing Segmentation
The process for knowing your customer and meeting needs you may not even know existed are simple.
1. Get the Demographic Data
If you're like most marketers or business owners, your customer list is just that - a list. Maybe it's just anonymous phone numbers. Or an email list. Or maybe, if you're lucky, you can add name and address to that combination. But have you captured household income? Gender? Presence of children? How about whether or not your customers have net worth of over a million dollar?
Gathering all of this information is the first step towards finding out who your customers really ARE. Need help with that? Contact the author!
2. Define Your Target (and Missed Target!) Audiences
Now that you have a picture of who your customers are - what correlations can you draw? What household incomes are spending the most? Which gender is frequenting your business the least? Is there an age group whose use of your product surprises you? Is your product flying off the shelves in Flagstaff but laying fallow in Cleveland?
Before you can even get into the why, you need to have a solid picture of what is happening. Building a portrait of your "ideal" or "consistent" customer allows you to target your outreach. Building a portrait of the customer who avoids you at all costs is helpful as well...so you can figure out why!
Now that you've segmented your list - find how to target your outreach towards people you know will value your offering. Selling Men's Navy Peacoats? Perhaps coordinate an email blast to existing male customers ages 20-40 in the Northeast.
If you've run a phone, email, or SMS marketing campaign, you can probably judge its efficacy by the ROI. But you're a savvy, segmenting marketer...you can do better than that!
What demographic profiles contributed to that ROI? Where did you miss the mark? Were you surprised by any of the results? Or, better yet, how did individual people interact with the campaign? After all, knowing "what" someone did in response to your campaign and "why" is much more powerful than simply knowing "who" did it.
This data driven reflection will really move the needle for your campaigns.
Remember: marketing is good. Knowing your customer is better. Using your knowledge of the customer to fuel your marketing efforts, engaging in data-driven reflection after the fact is BEST.