The days when marketers can design one-size-fits-all marketing campaigns for brands and products are gone. Consumers now want information tailored according to the preferences and needs of their age group.
You can’t target Baby Boomers using Snapchat videos, can you? No – right.
This is exactly why you need to change your approach from one-size-fits-all to generational marketing to be more productive.
Generational Marketing Allows You to Influence Entire Family
If you are using the old marketing tactics, chances are you will fail to impress some members of the family. But with generational marketing, you can positively influence the shopping decisions of the entire family.
But for this, you first need to identify and segment generations that an average family usually consists of.
According to HandMadeWritings, you can divide the living generations in the United States into six segments:
- I. Generation and Silent Generation are the oldest, born between 1901 and 1942. They do not make a large portion of actual buyers, so if you want to leave them out, you won’t miss much.
- Baby Boomers, born between 1943 and 1960, is the most important generation for marketers. Half of the consumer expenditure is done by this age group.
- Generation X consists of the people born between 1961 and 1981.
- Generation Y or Millennials, are the comparatively younger generation who have started to spend a lot online. They were born between 1982 and 2000.
- Generation Z or Boomlets are the youngest generations and future buyers, born after 2000.
Use Generational Marketing for Competitive Advantage
Generational marketing is still evolving. It’s also a relatively new marketing technique that can give you an edge over your competitors.
The better you understand each generation, the better you will become at creating content that can influence them.
For example, the social media savvy younger generation follows influencers on social media. These are the influential people on social media with a unique relationship with their followers.
This gives birth to an entirely new marketing strategy – influencer marketing, which is very effective if you are targeting Generation Z.
Here are some more tips to target each member of the family.
- Baby Boomers: They are already retired or reaching the retirement age, but that doesn’t stop Boomers from spending. This is not going to change for at least a decade, before Millennials will take over.
According to a retirement survey by the Employee Benefits Research Institute, almost 60% of baby boomers are looking to improve their life compared to their working years. They are willing to spend more to live a better life after retirement.
They are fond of simple messages, read brief blog posts, use mostly Facebook over other social media platforms, and usually make a loyal customer.
- Generation X: They are also influenced by brands and remain loyal. They are very active on Facebook and Twitter, but not on Instagram and Snapchat. They value honesty and work ethic.
- Generation Y: They are similarly active on Facebook and Twitter. Facebook ads are a good way to reach Generation Y. They like reading long, in-depth blog posts that help them learn something new. They also prefer reading reviews before buying something.
- Generation Z: The best way to reach them is through social media and video marketing.
If you are a marketer, Baby Boomer is the market segment where the money is for now. Prioritize this segment as they often buy for their kids and grandparents as well.
Disclaimer: The views and opinions stated in this post are that of the author, and Return On Now may or may not agree with any or all of the commentary.
All images provided by author under his or her own license. Infographic courtesy of Handmade Writing.