Tuesday, August 31, 2010

Psycho vs. Demo

As our society continues to fragment into hundreds of thousands of tiny niche markets, it's important to change the way we define our target audience.

It used to be that we could use demographics: age, race, gender, income, etc., to define our market. I suggest that now you use "psychographics" instead. Here are five critical questions to ask that will tell you way more about your customer than any demographic study:
  1. Where does my target audience typically receive information? (e.g. cell phone, Google search, e-mail, etc.)
  2. Who does my target audience trust and not trust (e.g. corporations, friends, family, entrepreneurs, millionaires, etc.)
  3. Why does my target audience buy? (e.g. fun, power, necessity)
  4. Where does my target audience shop most frequently?
  5. How likely is my target audience to: read a newspaper/magazine; read a blog; spend time on Facebook, Twitter, etc.