How large is your target audience – and where are they located?
Find out with market research from ASBTDC.
The Arkansas Small Business and Technology Development Center has access to a wealth of detailed demographic data that can help business owners determine both the size and the location of their target audience.
One of several demographic reports from Esri that can be used for this purpose, the Age by Sex Profile provides current-year estimates and five-year projections by gender for narrow age segments (20-24, 25-29, etc.). An advanced feature can even produce data for customized age ranges, such as 23-37 or 52-68!
For instance, the primary target audience for a men’s health clinic might be males age 35-49; for a nail salon, it could be females age 20-54.
One of the most valuable applications of the Age by Sex Profile is the ability to calculate the anticipated growth rate for the client’s target audience in various geographic areas.
Knowing which of several neighboring counties is expected to see the largest increase in your specific age/gender target audience can be a key piece of market intelligence. These insights can be particularly valuable in planning future marketing and promotional activities.
Using data from the Age by Sex Profile, ASBTDC’s market research specialists can also develop custom maps to illustrate population data, as shown in the example here.
Gender-specific population data from the Age by Sex Profile helped an ASBTDC client realize that their target audience was actually larger in a neighboring county than in the county where the business was located.
The client was able to focus their marketing activities in the neighboring county to reach a larger number of prospective customers and increase sales.
This and other useful reports are available for standard geographic areas such as cities and counties and for customized geographic areas such as the radius or drive time around a street address.
In addition to detailed demographic data, ASBTDC can provide location-specific market research on shopping/purchase behavior and spending patterns, as well as consumer attitudes/opinions on a broad range of topics.
Check out the Age by Sex Profile for the entire state of Arkansas.