Generational Marketing: The best kept secret for a profitable business
The easiest way to find your customers online is to know what generation your customers belong to. Are they qualification-minded baby boomers or are they tech company Gen X’ers? Do they value branding or work-life balance more? Knowing what age range your ideal customers fall into will tell you a great deal about what generation they come from and what that generation values the most.
Why is this important? If you learn to speak to a customer's values you gain their trust…and their dollars.
Some generations value tenure and education more than social media status. Other generations value honesty and integrity more than dollars. Some generations need more work-life balance than others. If you don’t know which generation values what, then you may be wasting your valuable dollars and time marketing incorrectly.
Here’s a helpful overview of the top four generations with buying power to get you started.
Baby Boomers 1946-1964
Baby boomers value community. education, credentials, legacy, bucket listing, and are young at heart. When marketing to them, state who you are, how long you’ve been in business, or what education you have that has prepared you for the role you are in. Speak to their experience while showing your own, and show them how your product can make them feel valued. Show Baby Boomers that they still have many things to offer in this life.
Gen X 1965-1980
Gen X values freedom and have an entrepreneurial spirit. They believe in a work-life balance and love to have fun. Gen X is innovative and are trend starters. They are adaptable and need products and services to be adaptable as well. Remember, this is the generation that made grunge and rap mainstream, show them how innovative your business can be.
Millennials are socially liberal with traditional values. Many still believe in marriage with the 2.5 kids kind of life. They want to make a difference in the world and hate liars. Millennials value diversity and love encouragement and daily motivational quotes or videos. They are hard workers and are finally getting the life they were promised at 22. The life that the 2008 recession took from them. Speak to millennials' childlike hearts. Remind them of all they’ve accomplished, and show them how using your product or service will make a difference in the world, a difference they can be a part of.
Gen Z 1997-2012
Gen Z has grown up with technology. They are extremely smart and liberal. They want to know that your business stands with causes that matter to them. More than the previously mentioned generations, Gen Z values diversity and is politically minded. They are extremely smart entrepreneurs and are financially savvy. Gen Z values branding and see themselves as brands. When marketing to them make sure that you practice what you preach because they will find out if you are lying and will expose you.
Marketing to each generation can be extremely rewarding when you speak to their value. Continue to research each generation and learn from them. Only then will you be able to market your business effectively and keep your business profitable.
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Until Next Time,
Leslie Rodgers Berry