Every 10 years, the United States conducts a major census effort. However, the US Census’ goal is not simply determining how much the population has grown. The results of each census produce valuable demographic and consumer information that you can use to help make business decisions.
Customer Profiles and Demographics
Particularly, the census data provides a wealth of valuable information for marketing purposes. You can get current estimated demographic results even now at the US Census Bureau. When the most recent results are in, check the website for your local area. This will give you tremendous insight to who your customers are.
Questions you might ask yourself before browsing the census results are, “what is the fastest-growing ethnic group?” or “what is the average income in my business area?” These and other questions can help you formulate targeted marketing messages that appeal to your local customer base. Perhaps you may find a great way to promote ethnic products or food. Or you may find that offering more luxury items will increase your profits based on the average incomes of your local customers.
Find Where to Open Your New Business
Are you planning to open a new business soon? Or perhaps expecting to add an additional location for your business? The US Census data will be a key tool to determine where your new business location should be. Although you may have a good idea where a smart location is, checking the census data will give you information on population densities, income, and even economic business growth in that area.
You may find that a specific neighborhood is actually in decline and may be an area to avoid. Or you could find alternate locations that you had not considered that are ideal for your business based on the residential data provided for that area.
Business decisions should always be made with the most pertinent and updated information available. The US Census is a valuable source of information that you should use for marketing, expansion, location, and even determining your industry.
Here are resources to get more information: