Have you ever wondered just how companies get you hooked on their products? Even as a person who has studied and practiced marketing for several years now, I tend to have brief moments of wonder when I see an ad or a new product from a company I follow that makes me stop and think, “Did they create this? Just for me?!”. However, once the dust settles and I take a moment, I realize that advertising is magically created from studying and professional practice with demographics.
Let’s compare running a business to creating a great recipe. It would help if you had the right tools to make your dish, such as kitchen appliances, bowls, spoons, etc. We’ll treat those as the foundation of your business, like your supply chain, workforce, and business facility. You also need ingredients to cook the dish,
and we’ll compare those to your shareholders and internal and external customers. But the marketing of your business and, most importantly, your knowledge of your demographics are the measuring cups of your recipe. Too much focus on an ingredient or not enough focus on it could affect the flavor of your dish and make it bland or unappetizing. When we compare that to a business, a lack of studying demographics could cause you to miss the mark on your original intention: To satisfy all your stakeholders and want them to come back for more.
Demographics and targeting within your demographics are essential for determining the group of people who best fit your vision of the ideal customer. It may seem daunting initially, especially if you are a smaller business or sole proprietor. But let’s not forget that there are so many great tools that we have access to in this technology-heavy and social media-driven age we are experiencing. If you are looking for resources within our area of Ozaukee County that might help promote your business, there are some great free resources like the Census Bureau Website and Data USA.
Of course, OED is always here to offer assistance in any way that we can with application and resource assistance because we know that our home is a place with an educated and skilled workforce, an excellent quality of life, and a business-friendly attitude within our communities. Being a small business could be overwhelming when you have to bounce back and forth in that metaphorical kitchen to cover every task but know that you have the resources out there and plenty of people willing to step in to help. Because after all, nothing is better than a delicious meal shared with friends and family.
Ozaukee Economic Development