The best marketing campaigns resonate emotionally with a targeted audience. When we plan events for our clients, we know we have to understand the mindset of the consumer who will best identify with our client’s brand in order to craft a message that speaks directly to their needs. To do this, we send information about existing customers to a market analytics company called Claritas, Inc. Each client then receives a detailed account of the five demographic groups that have purchased from them in the past and are most likely to buy from them in the future. It’s our job to determine what each demographic groups wants most from their furniture store so we can then demonstrate that our client can fulfill their target audience’s needs.
Here are a few example demographic groups that you can target with specific marketing messages. If done successfully, you will gain their business and potentially the business of everyone in their friend circle (virtual or otherwise).
Median Household Income in 2015: $67,500
This demographic consists of mostly childless singles or couples in their thirties and forties. With college educations and professional jobs, these people represent the most affluent of the younger demographics. They enjoy the latest technologies, travel, exercise, and urban or suburban settings. When shopping for furniture, people in the midlife success demographic are willing to spend more money if they feel like they are getting a better value. They like quality products with high performance, but they are do their research to make sure that they are getting the lowest price. Design and style are important to them.
Median Household Income in 2015: $55,000
Combining both middle-class and working-class families, mainstream families live in modestly priced homes in smaller towns. They enjoy outdoor activities like camping and sports, and they also enjoy televised media with their families. This market segment shops for furniture that is modestly priced and easy to mix and match. When it comes to style, they enjoy simple beauty and classic designs (think lots of neutrals and simple patterns). Since many still have young children, long-lasting and easy-to-clean fabrics are a plus.
Median Household Income in 2015: $35,000
Found mostly in urban and metro neighborhoods, young achievers can be singles just starting out on their own or new families who either rent or own new homes. Although they have a lower household income than their older counterparts, young achievers have a firm grasp of the latest technologies and social medias. They will use the internet to research prices and to compare product reviews. Since many may have recently graduated or entered the workforce, complete room packages may appeal to them (especially if they can get an added discount). While style is important to them, they are more interested in getting more furniture for their money at this point in their life.
Affluent Empty Nest
Median Household Income in 2015: $87,500
Wealthy Americans over 45 years of age who hold executive positions and no longer raise young children can be categorized as Affluent Empty Nesters. They have disposable income as well as large, older homes in the suburbs. People in this demographic want to purchase furniture that will express polished styles, and they are willing to purchase in higher volume to achieve the look they want. They also may be looking to downsize to smaller condos and homes, so they might need smaller furniture that still maintains an upscale look to fit. Furniture stores with extensive design services and quality brands will appeal to this type of consumer.