Demographic profile is the most common way of defining consumer base in media and marketing industry. It lays the basis of how markets are segmented and consumers are grouped. Age, gender, social class, education level and occupation are some factors that define the demographic profile. Many businesses from television networks and movies to consumer goods and political parties put huge reliance on demographic profile for making business decisions.
The essence of defining demographic profile is breaking the consumers into segments. But more often than not, it is found that consumer taste or preferences span across demographic segments. People of different age groups have similar interests. People like to watch certain television shows irrespective of their gender or social class. They like to use same products independent of which segments they are bracketed in through demographic profiling.
Look it from the opposite angle. Movie studios aspire their movies to appeal to all audience. Political candidates want their base to consist of everyone from young professionals to baby boomers. Same is true for many (though not all) television networks and consumer products. In very general terms, businesses want their appeal to span across a specific demographic segment.
We at MavenMagnet believe demographic profiling all by itself leaves several gaps in understanding consumers. In order to attract consumers beyond a specific demographic segment, you need to identify the commonalities between the consumers across segments. These commonalities are defined using psychographic traits of the consumers. We do that by focusing on factors like their activities, opinions, beliefs and preferences. And what better place to find this information than social media where people express themselves, share their thoughts and engage in the community around them. In a nutshell, we focus on the behavioral elements that help us sketch a consumer profile in our market research.
Many businesses fear losing focus or diluting the appeal to their core consumer base while reaching out to new segments. Our approach to consumer profiling can help you fend that from happening. The idea is to add perspective to the demographic profile of your target group using psychographic traits of your consumers. This will help you add the capabilities of expanding your reach and appeal beyond your primary target group without alienating your core consumer base.
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