Babies R Us and Toys R Us have a great email program that will send pregnant moms updates month-to-month, and then after birth with age-appropriate toys. Millennials are reshaping the way that goods and services are being marketed by staying unresponsive to traditional marketing tactics. Or the popularity of online dating apps and photography drones. The three main generations that make up today’s adult consumer base are: The importance of each generation plays into marketing because whether Baby Boomer, Gen X or Millennials—that generational influence shapes the values and communication styles of the consumer. Even now, Millennials are 21.7% more likely to own a Mac computer and this the is the same generation that is infatuated with each new iPhone release. Boomers have the highest value as consumers in the market today! Though this generation are self-professed savers, they’re not saving it all for college tuition! They spend the most money on each shopping trip, and as they are hitting retirement, they are more likely to splurge on items that aren’t on the grocery list. Thatâs why I wrote this article. They tend to like knowing the value of a service—how it will make their lives easier—without feeling pushed. If you don’t include strategies to reach those Baby Boomer grandparents in your lunchbox marketing efforts, you’re missing a big audience! Gen Xers claim to be the most dedicated to lists while shopping, but also fessed up to making the most unplanned purchases on their shopping excursions. This style of marketing is becoming essential as more and more information becomes accessible to businesses. In fact, more millennials listen to the radio than Gen Xers or Baby Boomers, and podcasts are becoming just as popular as Netflix shows (Serial, anyone?). Your marketing efforts are focused on the young parent—how to add convenience and simplicity to their lives. Most businesses simply focus on marketing trends and follow the next big idea. Which generations respond best to telephone calls, who is most likely to shop in-store, or get hooked because your product is eco-friendly? This generation is most widely talked to and about on social media and in pop culture—our blog is no exception! At best, they concentrate on their ideal segment and target their marketing efforts there, because, well—it’s hard to be everything to everyone. Although they are just 25% of the population they hold 31% of U.S. income. First, Iâm going to explain each generationâ¦ Gen Xers are saving up for college, home ownership, starting a business, and retirement—which leads me to…COUPONS. These tools fall under the categories of data analysis, marketing analysis, and marketing intelligence and can be used to gather data of different market segments. If we examine the generational spread, we see 30% of the overall market is made up of Millennials, 27% Generation X and 30% Baby Boomers (the youngest Generation Y and the older Silent Generation comprise the difference). You may not expect what seems to be an outdated form of marketing to work with this generation. But, according to a study from InnoMedia, NuStats, and Vertis, 86% of this generation brings in the mail every day and 68% have used coupons they received in the mail. This generation decides where to eat based on Instagram pictures, chooses hair stylists from Facebook and has their groceries delivered to their door. Think of the Vietnam War and what it means to Baby Boomers compared to what 9/11 means to Millennials. Even if vacations aren’t directly related to your service or product, consider running a sweepstakes. If it weren’t for the tragic e. Coli scandal at Chipotle, their new loyalty program would have been the biggest news of the summer. This is a great way to establish and build customer loyalty—you know what’s going on!—and make their busy lives a bit easier. Marketing to Millennials should take an approach that shows a new perspective on a common problem or task. To help you avoid that scenario, this week weâre sharing data showing generational â¦ As a result, different types of marketing strategies resonate with my generational cohort than with the other marketing generations. That said, Millennials are an economic force! Though I don’t listen to the radio anymore since my commute has changed, I could tell you the place I’d get laser hair removal in Philadelphia and which bars had the best deals for Eagle’s games. Gen Xers are busy! Baby Boomers were born between 1946 and 1964 and grew up during the American-dream, white-picket-fence era of post WWII. Knowing who your customers are is the first step, but understanding what they want will help you take it deeper. Analyze & improve your digital marketing -- for free! For an example of a fairly rough outline of generational breakdownsâ¦ Create marketing strategies for products that do double duty. Hear what makes us great -- straight from our customers. Since the advent of social media, it’s easier than ever to become the tal... Where’s the best place to spend marketing and advertising dollars? Each generation refers to a group of people born in the same period of time who share similar life experiences and are shaped by that particular time period. Because most Boomers reportedly use social media to keep up with long-lost friends, they are most likely going to report your Facebook Ad as spam. Gen Xers are now juggling child care, homeownership, and reaching the peak of their careers. Generational marketing is the key to effective targeting of these vastly different groups. Millennials love the next big thing. Create gated content. That’s huge! Sign up to get our top tips and tricks weekly! How Generational Marketing Works. At the heart of it, generational marketing is a marketing approach that segments the population by the time period they were born. This is a benefit and results-driven group, so don't sell the product to them. There is enough difference between generations to make us realize that our marketing should differ when attempting to reach different generations. A great and obvious example of this is credit cards! It’s even harder when you’re trying to market a product to so many different demographics—a 50-something who is unfamiliar with digital marketing is going to react very differently to a Facebook ad than a 20-something who is well-versed in digital marketing tactics. We live in a world that is constantly innovating, growing and changing. The Boomers are the most likely to misunderstand Facebook remarketing ads clogging up their Newsfeeds but still be receptive to direct marketing/sales tactics; they like to talk to real people. Not only does this generate talk about your brand or product online, it can be a great opportunity to get sales leads for your business. 2.7 million grandparents are raising their grandchildren (a steady 7% increase since 2009). Generation X has the highest spending power of all living generations. BUT, a closer look at your demographics might surprise you. Unless your brand appeals only to one audience demographic, you must tailor your branding, marketing strategies and tactical executions to four distinct generationsâ¦ Generational marketing is a marketing approach that uses generational segmentation in marketing communication. In our example of marketing lunchboxes, a simple shift to include additional Facebook marketing could reach your grandparents. Millennials are reshaping the way that goods and services are being marketed by staying unresponsive to traditional marketing tactics. Utilize Rewards or Loyalty Programs. Although you might not see Boomers oversharing their personal information on Facebook, rest assured, they’re on Facebook and it’s a good way to reach them. Gen X is the smallest generation, born between 1965 and 1980 and often referred to as the bridge between Millennials and Baby Boomers. For example, let’s imagine your business designs children’s lunchboxes—the perfect product for parents of elementary school kids! They are also the least likely to read that long-form blog post; Baby Boomers report that the articles they like the most are only 300 words. Though email marketing seems to be old news, it is still the best way to communicate with Generation X. Most of the Boomers are I know are big fans of American Express because of the points they can generate through big purchases—which can then fund a vacation or buy a nutribullet for their niece…. According to the Harris Poll, 77% of millennials already do or are willing to participate in rewards and loyalty programs and 73% of smartphone users are interested in using their mobile devices to interact with brands’ loyalty programs. They grew up without the online shopping experience, so they still enjoy a trip in-store, but have fully embraced online shopping as well. Scale your agency with WordStream software, Digital solutions for your entire funnel presented by WordStream. Generational marketing is exactly what it sounds like: you market to a specific generation of people based on the preferences, attitudes and upbringings that distinguish them from other groups. According to Pro salesman Jeffery Gitomer, upselling can also help build better relationships with your customers; it’s also much easier to upsell than to generate a net-new sale! If it werenât for the tragic e. Coli scandal at â¦ It’s a challenge to identify the common traits amongst your audience and to know what they want. Brookfield, Wisconsin 53005. Example of Generational Marketing To understand the concept of generational marketing better, let us take an example of three generations shopping in independent beauty â¦ Each person (and thus each generation) is powerfully shaped by world events, trends and developments occurring when they come of age. Ensure your website is built with mobile in mind â and not just for the huge SEO benefits! Next, you can alsâ¦ Using that data to connect with your target audience is what gives you a marketing advantage. If I ever find myself needing to create a website, it’s very likely I’ll choose Square Space as my platform of choice. As their younger counterparts have taught boomers how to use technology, this generation is slowly embracing it. Knowing your brand or product is the most important thing when it comes to marketing to any generation. Generation â¦ 9. According to Yahoo, 63% of millennials would be more likely to “check-in” to a business on social channels if it meant they’d receive a coupon or discount; 20% off is enough of an incentive to prompt 50% of respondents to visit a retail location. Transparency is the best policy: Generation X is not swayed by a flashy, aggressive marketing campaign. A great way to capitalize on the extra cash Baby Boomers are dishing out is to utilize up-sells. According to the Brookings Institute, 64% of millennials would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring. Millennials like to talk and plan with their friends—68% report that they won’t make a major decision until they have discussed it with people they trust—everything from what neighborhood to live in and how to find it, to where to go on a first date or start a business. 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