Demographics: Expectations vs Reality
Updated: Feb 14, 2022
If you are a Business graduate or working in the field probably you have heard about the importance of STP (Segmentation, Targeting and Positioning) analysis. While your lecturer (me) needs to explain the 4 main ways to segment an audience, she will shocking you with the next phrase: Demographics are outdated and are for lazy folks. I am sure you all have seen this picture recently
The picture actually tells it all. We can not rely simply on the demographics to understand our audiences. We need to look far beyond that. With all these data available to us we need to craft our strategy better and smarter. Otherwise, we are far beyond our competence.