Know Your Audience- Targeting by Generation!
What’s the difference between an 85-year-old and a 20-year-old? Everything! Every brand needs a marketing strategy to ensure growth and maintain current business. But, many businesses and marketers lose sight of their market at a thousand-foot perspective. With all of the amazing technology available to the market, marketers can know every small detail about a potential client from their favorite hobbies to their lifestyle commitments. But, at the end of the day, there’s a good chance that information is worthless to the company if they lack focus on generational differences to convey their new targeted marketing expenditures. Over the next four weeks, Fidelity will convey to you the information you will need to better target your audience.
First, though, it is important to know the four major generations your business can target! With each generation, critical differences arise. So, find your audience, study their goals, and drive home your message!
- Silent Generation- 1925-1942
The smallest generation in the United States, the Silent Generation makes up only around 20 million Americans. This generation favors caution and subtlety as they grew up in a nation stricken by war. In next week’s blog, we will uncover how to target this generation effectively in what has become a technology-driven society.
Baby Boomers- 1943-1964
Coming in around 69 million living Baby Boomers, this generation carries significant importance as they are the second-largest group by population. Making up not just the largest in size, the generation carries more buying power than any other generation at around $550 billion spent annually.
Generation X- 1965-1980
Generation X tends to be ignored by many businesses but is quickly becoming more and more important as time passes and wealth increases in this generation. Members of this generation make, on average, 75% more than their parents did when they were their age. Yet, because of significant debt in this generation, the average household is worth only 36% more than their parents. This is critical to remember when marketing to this generation!
Generation Y (Millennials)- 1981-1996
Although Millennials often find themselves at the wrong end of many jokes, at 72 million people, this generation now consists of more people than any other generation. This generation is defined by diversity, and therefore inclusivity, as nearly 45% of millennials belong to a minority race or ethnic group.
Generation Z (iGen)- 1997-Current
An entire generation swarmed by technology and the innovations that are associated with the mid 2000s, this generation receives marketing materials and communicates like no other. This generation, even more so than the one prior, is incredibly diverse and educated. As the generation continues to grow, the limits of marketing to the segment does as well.
Over the next few weeks, we look forward to uncovering the hidden secrets of each generation with you! Although each generation is distinctly different from its predecessor, focus on the commonalities that unite us. With print, anything is possible! Learn more about how we can help grow your business, protect your growing clientele, and develop lasting relationships.
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