Are You Still Targeting the Wrong Demographics?
When you think about the term demographics, you have to remember that some people are categorized using very broad terms. The fact is that most companies need to shy away from going too far in that direction. If you are still targeting any of these three groups as your primary demographic, you need to narrow your target audience.
The Whole World of Demographics
If you think you can target everyone because everyone needs what you are selling, your marketing dollars are being wasted. First of all, you can’t please everybody, so even a great product isn’t for all people. Second, you can’t market to everyone. If you don’t have a narrower target, you’re going to miss more often than hit. If you can narrow things down, this gives you a means of focusing your marketing efforts. The result will be greater success, especially when it comes to the conversion rate of your efforts.
The problem here is not that you have too few people to target, but rather the idea of not having diverse enough criteria. You can’t select one factor, like people who like to read, and have that as your only criteria for a customer. Even if you are operating a bookstore, your individual campaigns need to target people who like specific genres of books, like those who listen to audiobooks. You may even need to target people who like movies that are based on books. After all, some people actually do like to watch the movie first and then go get the book. You may also need to target some individuals by age range or education level to market the right level of reading difficulty to people.
The Largest Living Generation
You’re going to say, “He can’t be telling us to avoid targeting Millennials.” The fact is that Millennials are a generation of people, not a legitimate marketing demographic in their own right. They come from all walks of life, education levels, financial statuses, etc. If you treat all Millennials the same, you’ll alienate more of them than you’ll reach.
You can’t make the entire target a bull’s-eye and say you’ve hit the mark every time. That’s just not how marketing works.