Data benefits large corporations to market and know their customers’ spending habits, and your small business can do the same using US Census Survey data. The City of Dallas Office of Economic Development has a new website that you should take the time to navigate through for relevant local information. The small business link on the top of the homepage will direct you to key start up information, small business news, resource guides, programs and of course the Dallas Data Search tool.
The Interactive Data Search Tool allows you to pinpoint where you are located (or plan to be located) and then create1-3-5 and 10 mile radii around that location. The image is the 1-3-5 miles from the Downtown Central Public Library with the blue regions highlighting the data that was used. The great part is once you enter the address, the tool compares demographic information for each on the circles including population, population density, race & ethnicity, population by age, household income, education level, labor and industry sectors, real estate statistics and more! This is a very user friendly way of getting started with using demographics data to support your business and marketing plans as well as understanding what areas may be a good place to open, sustain or grow your business.
Mapping tools in conjunction with reliable data can send a powerful message to potential investors. The information in a single graph, map or matrix is efficiently expressed to the person who has to evaluate your plan in a brief amount of time. And this in turn, shares your knowledge of your target market by clearly defining your ideal customer. Being able to communicate this idea is essential for others to appreciate the potential success for your business.
Remember, neither you, nor your business can be all things to all people, instead know the needs, habits and locations of specific kinds of customers. Are you selling clothing for a young professional? Or perhaps window treatments to environmentally conscientious homeowners? Knowing your ideal customer will guide your marketing plan and allow you grow a loyal customer base.