Dividing up target markets by demographics alone is becoming a thing of the past. Gender, location and income are no longer enough to define a group, causing marketers to move to behavior segments. Segmentation techniques today vary, with behavior (44%), location (42%) and age (38%) being the most heavily utilized factors. If you divide behavior up further, marketers can segment based on personal interests, life stage, attitude and budget. Some of these consider age and income—demographic attributes—but they do not solely rely on it.
From their upbringing to their current environment, a variety of factors affect consumers—making behavior and needs vary greatly from woman to woman or millennial to millennial. For more focused products and messages, marketers need to utilize a blended approach of behavior attributes and basic demographic information. With the ever-increasing wealth of data and knowledge the marketer has on their consumer, a blended approach will create more work, but is possible and will reap great rewards. (Marketing Week, 04.16.19)
Tracking demographics but ready to step up your marketing with consumer behavior data? Contact us today about H2R’s Segmentation Research at 417.877.7808 or online here.