Do you REALLY know your customer?

It is no secret that the past five years has impacted all our lives.

Your customers are no different than you. Household composition, financial status and technology usage have experienced an unprecedented paradigm shift due to the recession, unemployment, the housing market crash and a social and mobile revolution. The combination of these forces has changed how Americans live, behave, communicate and interact on every level.

Many consumers have altered their lifestyles to accommodate their current socioeconomic situations.

Let me give you an example…

Household formations: Did you know that 7 in 10 college graduates will live at home after college?

Here are five other key American Consumer changes:

Aging of America – Baby Boomer population is now turning 65
Increase in multi-generational households
Moms having children later in life
Digital diversity – more ways for consumers to connect
Green Aware healthier lifestyle trends

When our team consults with our customers, we find that most of them are doing an excellent job at using basic demographics to target market their “perfect customer.” However, there are five other key elements they could be leveraging to gain a greater return on their marketing investment.

Geography (the easy one…)
Psychographic or lifestyle characteristics
Buying patterns
Creditworthiness
Purchase history

If you are not tapping into these key elements you could be missing out on maximizing your marketing time and money.

Think it’s too hard, too complex or too expensive? Think again.

For more information on how to leverage these tools, consult your Inside Account Manager for details by contacting us at 866-319-7109 or at okiam@prospectsplus.com