Generational marketing is an approach that uses segmentation before the communication phase takes place in your marketing campaign. According to Dictionary.com, a generation is defined as “a group of individuals born and living at about the same time most of whom are the same approximate age, having similar ideas, problems, attitudes, etc.” There are multiple generations to keep in mind when you want to start a marketing campaign. Depending on your product or service, your audience may include one generation or it may include all of them.
The real challenge is knowing how and when to effectively advertise to each generation. In order to be able to relate and entice consumers from each generation, you should know a little bit about each one first.
Baby Boomers are those who were born from 1946 to 1964. This generation is most likely to misunderstand Facebook ads, but will still respond to direct marketing because they prefer to learn about things face to face. Baby Boomers are said to have the highest value as consumers in today’s market. This is because they are hitting retirement and are more likely to splurge on things when they go shopping. So, if your audience is Baby Boomers, here are a few tips to reeling them in. Baby Boomers are all about brand loyalty, so make sure to tune in to that, cash in on up-sales, offer cash back, and keep things as traditional as you can.
Generation Xers were born anywhere from 1965 to 1980. This generation is likely to have children to take care of (and pay for) while working full time jobs. About 80% of Gen Xers are said to be on Facebook, Twitter, and other social media sites. This generation would be considered a hybrid in the marketing world. They may not have grown up in a world with Internet capabilities, but they are willing to embrace it now by buying things online, but they also enjoy taking a trip to the store. For Gen Xers, use coupons, email marketing, direct mail, and projects that make it easy for them to purchase from you.
Millennials were born from 1981 to 1999 and are known as being a huge part of the economic force in America with $200 billion in annual buying power. They entered the workforce after the economy crashed and now they are the largest generation of entrepreneurs. This generation does less in-store shopping, but are not strangers to splurging. They are influenced by family and friends to purchase things and are unresponsive to traditional marketing strategies. Try focusing on innovation, using customer reviews, social media incentives, and loyalty/rewards programs to appeal to Millenials.
Conclusively, Baby Boomers, Gen Xers, and Millennials have integrated to create today’s highly diverse market. First, discover you audience, and then use these tips to attain their interest and hopefully hook your targeted generation.
The next generation, iGeneration, is coming of age and entering the marketing world. If you are a marketer gearing up to grab their attention, try personalizing, connecting through social media, strategizing, and targeting mobile advertising. The future is now!
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