One of my goals for posting here on the blog is to make sure that you as a small business owner are investing your time and money wisely.
One of the places I have found that small business owners waste a lot of money is on marketing that doesn’t work.
It is common advice that you should know the demographics of your potential buyers – how old they are, where they are, what kind of education they have, and so on.
But what if this was completely off and those people actually had very little in common with each other? What if the reason people actually buy is based on shared values?
In “The Death of Demographics with David Allison,” my friend Phil Gerbyshak dives into all of this.
From the show notes:
Marketers have always believed demographics and psychographics held the key to influencing consumer behavior. If only we knew enough about someone—their age, gender, purchase history, favorite brands—we could impact what they do. But that isn’t true at all.
The truth is, these systems are a terrible way to understand who people are.
Today we know nobody acts their age anymore, and tracking past behavior doesn’t tell us what will work now. Instead, it’s time to embrace a revolutionary new approach that changes everything: Valuegraphics!
The statistics in this will literally blow your mind.
Please let me know if it makes you adjust your marketing strategy going forward.
