What are Geodemographics?
Geodemographics are consumer segmentation models created by aggregating demographic attributes within a specific geographic area. Variables related to age, gender, education level, income, and more reveal lifestyle segments that can be applied to marketing, retail planning, and site selection analyses.
Why are Geodemographics Important?
Geodemographic profiles can be used to identify and locate lifestyle groups. These segments are not as easily defined with traditional demographic data, which provides raw census counts and requires further analysis for lifestyle insight.
Brands can apply geodemographics to a variety of analytics use cases. Marketers for a wide variety of industries use geodemographics to target their best customers, as well as to identify “look alike” markets they can expand into. By understanding what makes their best customers unique, marketers can develop targeted messaging and offers specific to a lifestyle group and location. Similarly, they can look to reach new markets with similar lifestyle groups based on the insight they’ve gleaned.
Precisely demographics datasets and geodemographics can be applied in analyticsLEARN MORE
Retailers can uniquely benefit from geodemographic data. Understanding the makeup of retail catchments in terms of lifestyle enables retailers to provide the products and services most relevant to a particular location. Aggregated demographic characteristics allow retailers to anticipate future trends in an area and adjust inventory accordingly.
When applied to site selection processes, geodemographics can provide insight into high-performing store locations. By understanding who lives near, or frequents, a particular store or branch, organizations can make informed decisions about where to open or close other locations. This information enables organizations to make strategic decisions for optimal site selection.
Specially curated for fast-tracked and accurate analytics, Precisely’s geodemographic datasets link boundary and address information with demographic, lifestyle, and socioeconomic insights to help organizations understand who people are, where they live, and how the behave. As part of the PreciselyID network, Precisely’s geodemographics data allows users to easily link lifestyle segmentation information to an address, whether that of a point of interest or an individual.
How Precisely Can Help
Precisely offers a variety of geodemographic datasets to fit every organization’s unique needs. The CAMEO and PSYTE HD datasets provide in-depth consumer segmentation models, while Settlement Spaces and PSYTE HD Financial deliver detailed information related to housing and economics. CrimeIndex segments are based on propensity for crime, providing a deeper and more specific geodemographic profile of an area.
Learn more about Precisely Demographics datasets and how geodemographics can be applied in analytics.