What is Generational Marketing and how can you use it?
Generational Marketing is defined as a marketing strategy that is designed to appeal to a specific generation of people based on how their preferences and upbringing is different from another group.
With any type of segmentation it could be very easy to fall back on stereotypes and so this approach is probably best used alongside other analytics. However, generation marketing can be useful when deciding on how to communicate with your audience and how they could become a loyal customer. Take a look at your google analytics results to see who your target audience is and be prepared to divide any ideas further if your audience crosses over groups.
There are six living generations with most research focusing on four of these. I have found that there are slight variations in how the split of age groups works but broadly speaking:
Boomers are defined as those born just after the war up to the mid-1960’s. Although this age group have lived through a lot of technology changes they are considered more likely to favour traditional channels such as tv and radio rather than use streaming services. As far as social media goes this age group favour Facebook, which is still the most used network site for all age groups.
Born in the mid 60’s through to early 1980’s is Gen X. It is the smallest age group but they did grow up with the first personal computers and so tend to be more digitally engaged. This group is at the midpoint of their careers and potentially have a lot of spending power. Nostalgia is often considered important for this group and they are considered the most brand-loyal generation.
Gen Y or Millennials were born in the mid-1980s to the mid-1990s so they are currently between 25 and 40 years old. They are the most targeted group for many brands as they are a present and future audience. They are also the generation that were the first to grow up with modern technology and tend to own multiple devices. They are more likely to want engagement from a brand and will switch easily if they don’t feel their needs are being met. This group has grown up more socially and environmentally aware. According to Novaloca’s google analytics this is our largest audience (25 to 35 year olds)
Those born between the mid-1990s to the early to mid-2000’s are known as Generation Z (or iGen, or centennials). This is the generation that has grown up on the internet and social media. It is on these platforms they will get brand reviews and recommendations. They prefer social selling and those brands that respond to comments and feedback. Instagram appears to be the most popular social media platform for younger people -59% for 18 to 29 year-olds.