Tuesday, July 17, 2007

Keeping up with the Jones'

If the majority of your customers live within a 5 minute drive of your store or restaurant, this posting is for you. And if you are opening a new store or interested in learning about an existing store’s neighborhood – keep reading.

Technology has made things so much easier for marketers. Within minutes you can learn a little about the people who live in your trade area.
Visit http://www.census.gov/. To the right of the screen you’ll see Population Finder – it should be the first field. Enter your store’s zip code and then state. Hit zip code on the screen that appears. And then Fact Sheet. This will give you a snapshot of your zip code.
What does this information tell you?

Age – how many people have children at home under the age of 18? Is it more of an “empty nester” zip code?

Race – do you offer items that appeal to a certain ethnicity? Do you need to change your offerings?

Households - In addition to the total number of households, you can find out how many people own vs. rent. If there are a lot of renters, you know you are in a transient area. Or maybe there are a large number of apartment/condo complexes. Also good to know -- so you can tailor marketing programs to this group.

Want to a more current look at your neighborhood? Visit http://realestate.yahoo.com/. Hit the Neighborhood tab at the top and then enter your city, state and zip. This will give you information like spending per capita per category and updated demographic information.

The whole process will only take 10 minutes or so – definitely worth finding out topline information about those who are potential and/or current customers.