Good marketing knows how to treat the audience right. In marketing, we know there is a shift in generational buyers over the last few years. Technology has primarily shaped and driven these engagement preferences and those companies who do not adapt quickly and stay nimble in their marketing responses are sure to be left behind.
Nowadays, internet and technology bring change to our lifestyle, especially for millennials. Through the internet, they do a lot of activities easier, that’s why they are called “Digital Native”. According to Yoris Sebastian from OMG Consulting, in 2020, the productive ages (15-35 years old) will be 50-60% of the population. Now, they are reaching 40%.
Although our potential big market is millennials, we should also think about reaching the Gen-X and Baby Boomers to reach a complete result of marketing. McDonald’s for example, their market starts from kids, teenagers, first jobbers and family. They will do different marketing strategy for each segment.
In fact, one message delivered across even one or two mediums is no longer an effective approach to encourage buying or develop brand loyalty. Now, marketing strategies once dominated by traditional means have to make room for technologies that change on a daily basis with marketing unique to each outlet.
1. Different Content Consumption
Millennials spend around 30 hours per month on Social Media Apps, checking into social networks on an hourly basis. It means they are attached much more personally to brands through these tools than TV or Radio.
It is different from Gen-Xers which consume online content less than millennials, typically in the morning or on the weekend. This generation prefers email marketing over other tactics. Meanwhile, Baby Boomers also spend time online consuming content, which prefers content to be shorter. Short blogs are a fantastic way to reach this group.
2. Different Buying Process
Millennials will have their purchase decisions after reviewing choices with friends. Trust is a huge factor for Millennials, over the savvy and slick marketing gimmicks from brands.
Gen Xers also do online researching process, but they’re more apt to purchase in person versus online. They are focused on quality and prepared to spend a little more if the product will last that much longer.
Baby Boomers are just the same. They do online research. They are researching purchase options, comparison shopping, doing their product recon before buying through reviews, short blogs, and product descriptions. Because of the wealth of information, they can suddenly switch brands suddenly.
3. Different Message
Millennials experience a more personal connection through social media, so the desire to be authentic and real in their marketing. They are much more aware how companies respond to social issues and are quick to develop love or hate for a brand based on the brand’s response to things important to them.
Gen Xers have families to take care of, and therefore respond to messaging geared at providing for families, themselves, or their futures. Because of their busy work and family lives, making things easy and quick for this generation is important.
While Baby Boomers are known as ‘me’ generation. It’s interesting to note that marketers should avoid pointing out Baby Boomers are seniors, elderly, or old. Baby Boomers desire to feel included.
4. Different Money Value
Millennials also value experience over things, as we’ve seen with the rise in the ‘sharing economy’ (such as Airbnb and Uber). When it comes to marketing, every purchase must be a positive experience, whether it’s how fun the experience of buying is to what the packaging looks and feels like.
Just because the size of Gen Xers is smaller compared to Millennials and Baby Boomers does not mean their spending is small, too. And because they aren’t as heavily marketed to, brands have a unique opportunity to target Gen Xers, foster new relationships, and grow!
Research shows that Baby Boomers are short on their retirement funds, leading many to continue working long past when they thought they’d retire. They’re concerned with higher health costs, retirement funds, helping their children or grandchildren pay for rising tuition costs and more. (DC)