Demographic Data Spotlight: Why the variables matter

March 29, 2024 By

Many companies look for additional data to enhance their decision-making. They use the data when looking for new business locations or developing new products and services for given areas. They need to look beyond the data they currently collect or have access to.

Many turn to EASI and our Master Database and web reports. Each offers different levels of data variables, allowing customers to discover more about their chosen geographies so they can apply it to their unique business.

For example, the Master Database offers excellent demographic information that companies can use to enhance their contacts in their CRM application. Companies looking for new business sites often use the web reports to quickly identify where to go without investing significant time or money into the analysis.

Both the web reports and Master Database are good options for any business. It just depends on the business goals you’re exploring or want to achieve. The variables each option contacts give you a solid foundation for that work.

Enhancing your customer data

Comprehensive customer and lead data is worth its weight in gold. CRM applications have the space and capability to collect as much data as your company needs. The missing link is often the data-gathering mechanisms, like online forms or sales development reps who skip over the information-gathering stage of a conversation.

Integrating the Master Database with your CRM application can fill in those blanks. You expand your datasets with new context that empowers you to improve your marketing, sales, and business development. It contains over 2,500 variables, including some that you won’t find anywhere else, like Consumer Expenditure Data, EASI® Cluster Analysis, and EASI® Quality of Life.

Insurance companies, for example, could better understand their customers and leads by automatically appending information from the Master Database.

So, based on the data they already have in their CRM, the company would also know:

  • The average number of cars in their household based on their location.
  • The average number of people who purchase vehicle, health, and personal insurance in that location and for their age group.
  • How many of their leads and customers live in a given geography.
  • How much they spend on airfare and how many own a vacation home.

The insurance company could upsell different products to their customers, develop new products for their leads, and generally learn more about what motivates their customers. Enhancing CRM data with demographic info helps them identify the factors that align with new products or services.

Enhanced or enriched customer data is useful to various companies, especially those who sell to large consumer bases because they’re always looking for new customers. They need a more comprehensive view of demographic, geographic, and income information to reach prospective customers in new segments. They can gain traction faster because they’d have “insider information” about people in that area. And that’s just if you used the data to enhance the data you already have.

Discovering new potential customers

You could use the web demographic reports to discover new customer bases you might not have thought of before.

Sample Advanced Trend Report for San Francisco

For example, the Advanced-level reports contain income level, household makeup, and homeownership information you could use depending on your business.

  • A financial services company or bank could use the income level data to determine new locations or customer segments for a brand-new product.
  • An independent school could use the household makeup data to find a new location with many school-age children for their newest school or program.
  • Self-storage companies could look at the homeownership data to determine whether an area with recently closed factories or other large employers might need more storage if people have to move quickly.

Using unique variables

EASI also has reports with unique variables our customers use to develop new products and learn more about their chosen geographies. The Life Stage database is unique to EASI and helps customers better predict buying behavior by combining consumer expenditures and life information. It uses over 1,900 variables to classify neighborhoods based on the crucial factors that determine life’s key decisions, like people’s age, whether they’re getting married, buying a house, or having kids.

Sample Life Stage report section

Other unique data not found anywhere else is the EASI Enhanced database. We created it based on specific demographic questions our customers have asked us over the years. It is an extremely granular database that contains unique combinations of datasets for our customers. Customers who want this database should ask their EASI sales representative for more details.

The right variables can make all the difference

Each company and customer needs specific data to find new customers, discover new locations, or develop new products. EASI provides the right access to the right information you need.

Contact your EASI sales representative today to discover how we can help you uncover the right variables for your business.