A Quick Guide to Generational Marketing
Four generations make up the majority of our society, each of them shaped by the complex political and social environments of their time, and influenced by technological advancements. Their opinions and responses to marketing differ greatly, thus identifying the target market is an important part of any marketing plan. Here are a few things to keep in mind when marketing to each of these generations:
- Baby Boomers: Born 1946-1964. This generation is often thought of as being out-of-touch and absent from social media. However, it’s worth noting that Steve Jobs and Bill Gates were both part of the Baby Boomer generation and they changed the face of technology and communication as we know it! Facebook is the most popular digital channel amongst baby boomers, but they are also the most susceptible to traditional marketing. Don’t dismiss them. Keep messages simple and stick to what they know.
- Generation X: Born 1965-1981. This group is something of a hybrid when it comes to marketing. They lived through their parents’ recessions and saw a lot of people lose a lot of money in the stock market. Therefore, they can be considered more risk-averse, financially reserved and conscious of saving money than other generations. However, they have also witnessed the development of technology and were the first to use a mobile phone. Resultantly, they have embraced online shopping but with some degree of scepticism and will do their research and read reviews before they purchase. Pay attention to your reputation – loyalty is key.
- Millennials or Generation Y: Born 1982-1995. Many millennials entered the world of work during a time of economic uncertainty, it is therefore no surprise that they are such an entrepreneurial bunch. This generation is highly educated, has more choice than ever and technology at their fingertips, making them the hardest to reach from a marketer’s perspective. They place high value on social and environmental issues and are generally unresponsive to traditional marketing tactics. Be authentic (they will see through you), get creative and make social media your best friend.
- Generation Z: Born 1996 onwards. Generation Z kids don’t know a world without computers and the internet (try telling them about dial-up). These digital natives love to document and share all aspects of their lives, turning to YouTube, Instagram and Snapchat to do so. They like to be seen as individuals with unique styles and therefore seek brands that offer customisable products. Scrolling through several kilometres of content every day means that they only stop to read things that really grab their attention. Customisable experiences are everything. Embrace technology and use attention-grabbing phrases.
The years which define each generation vary across the globe. While this is largely generalised advice, the take home message is that there are recognisable differences between the consumers of each generation and it is important to take this into consideration when marketing to a particular demographic. Marketing messages and strategies should be crafted in a way that resonates with your target customers. Knowing your customers and understanding what they value is essential.
