Knowing Your Target Audience's Habits Can Help You Reach Them More Effectively
Before building your marketing strategy, you should consider which generation will align with your company's products or services.
- Generations are groups of people that are segmented by their birth years.
- The generations are shaped by advancements in technology, major events, and economic changes that they experienced.
- The people included in each generation have similar buying habits, social beliefs, and media consumption.
- The five generations you will market to are: Silent Generation, Baby Boomers, Gen X, Millennials, and Gen Z
Who are the Five Generations?
1. The Silent Generation (1925-1945)
The Silent Generation (ages 78-98) is the oldest generation.
- Major Events: The Silent Generation are children of The Great Depression and WWII. They also served in the Korean War.
- Characteristics: Resilient, Calculated, and Loyal
- Shopping Habits: Prefer to shop at local brick and mortar stores. Loyal to the businesses they shop at and the brands they use .
- Finances: Mostly retired and have large retirement savings. Very conscious of the money they spend.
- Media Behavior: Prefers using traditional media including TV, cable radio, newspaper and direct mail. Some use Facebook to catch up with friends and family.
2. Baby Boomers (1946-1964)
Baby Boomers (ages 77-59) have the most buying power.
- Major Events:Boomers grew up in the post WWII wealth and expansion. Many Boomers were serving in or protesting the Vietnam War.
- Characteristics: Traditional, Competitive, and Self-Sufficient
- Shopping Habits: Prefer to shop at brick and mortar stores. However, they have become more accustomed to online shopping after the Covid-19 pandemic.
- Finances: Working senior-level positions while avoiding retirement. They have more disposable income to spend on luxuries such as vacations and nice vehicles.
- Media Behavior: Prefers using traditional media including TV, cable radio, newspaper and direct Mail. Large presence on Facebook with many referring to Facebook as “The Boomer App”.
3. Gen X (1965-1979)
Gen X (ages 44-58) is considered the forgotten generation.
- Major Events:Gen X grew up during the recessions of the 80’s and 90’s. Gen X was the first generation to grow up with both parents working.
- Characteristics: Family-oriented, Nostalgic, and Independent.
- Shopping Habits: Shops brick and mortar or online. Prefers to buy from brands that they trust and have high loyalty to.
- Finances: Reaching their career peak. They strive for work life balance and want to spend their time and money with/on their families.
- Media Behavior: Use a mix of traditional and digital media such as TV, cable, radio,and streaming services such as Hulu or Pandora. Gen X has a large percentage of Facebook users.
4. Millennials (1980- 1995)
Millennials (ages 28-43) have the largest population.
- Major Events:Millennials were growing up or becoming adults at the start of the new millennium. They were the first kids to have the internet.
- Characteristics: Resourceful, Misunderstood, and Ambitious.
- Shopping Habits: Prefers to shop online as much as possible,and look to spend more online.
- Finances: Millennials’ finances are pretty tight. Many millennials prefer a shared economy with apps like Uber and Lyft.
- Media Behavior: Mostly using digital media to stream their TV and music, but will still watch network/cable tv and listen to the radio on occasion. Almost all Millennials are on social media preferring to use Instagram and Facebook.
5. Gen Z (1996- 2012)
Gen Z (ages 11- 27) is the most diverse generation .
- Major Events: Gen Z grew up during the Great Recession and/or the Covid-19 Pandemic.They are the first digital native generation.
- Characteristics:Progressive, Thrifty, and Environmentally Conscious .
- Shopping Habits:Prefers to shop online, but a surprising number of Gen Z enjoys brick and mortar shopping especially at second-hand stores.
- Finances: Very conscious of their money. Buying many items used to save money and reduce waste. Cares more about a deal than a brand.
- Media Behavior: Streaming TV and Music is the norm for Gen Z, but they will still watch cable and network TV and on occasion listen to the radio. Very few are not using social media apps such as Instagram, Snapchat and Tik Tok. However, they are getting away from Facebook.
How To Market To a Specific Generation?
Using the generalizations made about each generation can help you easily figure out which generation best aligns with your product. Make sure you are not wasting your time and money marketing to the wrong generation. For example, marketing an expensive luxury car to Gen Z will fall flat no matter how hard you try because they cannot afford it. However you’d be more successful marketing the car to Baby Boomers since they have more disposable income.
Once you figure out your target generation, you should create messaging that speaks to who they are and addresses their wants and needs. Also make sure you are placing your advertisements where your target generation is consuming media.Also, keep your messaging respectful to your target generation by avoiding negative generalizations. For example, don’t use messaging that would make Baby Boomers feel old. By doing this you will reach a large portion of your target generation, and they will respond well to your relatable advertisements.
The Moran Group can customize a strategy for your company to reach your target audience and increase sales. Call us today! https://www.moranadvertising.com/