Working the numbers has never been easier or harder. Demographics, psychographics, market segments and more can make your head spin. Calculating success potential is still a chore for the well prepared. We had to take a break and listen to Metric’s Calculation Theme from Old World Underground, Where Are You Now? and reread the lyrics. And we think they make sense.
Researching and learning about your customer may be the most important job you ever complete. If you do these two things successfully and follow-up with the right product, at the right time, in the right place, in the right quantities, at the right price, you might just make a success of yourself.
You can get a start on the demographic, psychographic highway with a few clicks and a ton of hours. Start by visiting Wikipedia to read about the topic in short. “Demographics are the statistical characteristics of a population.” Make sure you read far enough to learn about cohorts. “A generational cohort has been defined as “the group of individuals (within some population definition) who experience the same event within the same time interval“.
Make a quick stop on the page about psychograhics.
Move on to reading about the Claritas Prizm (at Wikipedia since we are still in the learning stage here!) Prizm breaks us into sixty-six segments from 01 Upper Crust to 66 Low-Rise Living. Although reading this list makes some of us “wish we were farmers”, we plough on.
Prizm was acquired by Nielsen. You have heard of them … TV ratings. The Silent Selling, Fourth Edition, textbook suggests visiting Prizm at claritas.com but that takes you to the main Nielsen site. We recommend you read about Prizm on Wikipedia where you can find more in-depth details. Then head over to Nielsen MyBestSegments where you can learn more about Prizm and take a brief interactive tutorial. This site may also introduce you to B2B.
Finally (for this trip) visit the Prizm site by Nielsen to see their SiteReports. The actual reports must be purchased, however, you can learn much by reading the pages such as the About page.
For example, in an effort to encourage you to purchase a report, you are tempted by the benefits of buying such demographic insight.
- Build informed target marketing strategies with access to a comprehensive selection of demographic data
- Keep pace with the demographic changes that impact your market