Did you know that Generation Z is tech savvy, while Generation Y is super confident, diverse, liberal and more hands-on than Generation X? When targeting different generations, marketers need to understand their audience and adjust their marketing tactics, since each generation has unique expectations and lifestyles, which in turn will influence their purchasing behaviors.
As moderator of NYWICI’s bi-weekly Twitter chat, I had the opportunity to interview Erica Martell, a marketing and communications consultant. Martell shared vital information about the effectiveness of customized inter-generational marketing. “Shifting demographics impact every business,” says Erica. “Communications’ professionals know how to connect, using buzz words.”
Researchers have defined the various “generations” as
Mature/Pre-depression, sometimes also referred to as “The Silent Generation” (born between 1927 – 1945)
Baby Boomers (born between 1946 – 1964)
Generation X (born between 1965 – 1980)
Generation Y/Millennium (born between 1981-2000)
Generation Z (born after 2001)
According to Erica, the “practice of segmenting the population is based on various demographic and psychographic factors.” Understanding their unique characteristics, experiences and needs can help marketers target their message. This is important because “one size marketing does not fit all.”
An interesting fact shared by Erica is that by 2030, Millennials will outnumber Boomers by more than 22 million. And although the year 2030 may not seem so far away, it is important for marketers to know that “seniors are currently the largest demographic, with 70% discretionary income and mega buying power.” In addition, “seniors value honest, optimistic language and premium service, making it all about them.” When developing targeted marketing campaigns, a thorough knowledge of these generational trends should be the driving force behind every effective customized marketing strategy.
Additional tidbits shared by Erica during the hour-long Twitter chat included:
Marketers creatively target all generations via Instagram, Vine, YouTube, Facebook and Twitter
Social Media will continue to evolve in 2015 as will generational participation
Marketers are using Infographics to get key points across visually and instantly to convey their message
“It is not unusual for several generations to live under one roof with different values and experiences, especially since the 2009 recession,” says Erica. “Therefore, it is important to cater to culture and generational values and experiences.”
Lastly, consumers want to be assured that they can trust a brand. Erica reminds us that marketers must initiate genuine relationships, demonstrate value and respond to each community’s terms.
This post originally appeared in NYWICI’s Aloud blog. You may read all of my NYWICI Aloud posts here.