Generational Marketing: How to Target Millennials, Gen X’s & Boomers
Understanding your target audience is a crucial component of your marketing strategy. It’s no surprise that each generation interacts with businesses and advertising differently.
That’s why your business needs to speak to each of these generational groups in its own unique way. From marketing to millennials, to gen x-ers and baby boomers, we’ve broken down how each of these groups compares, so you can become an expert on generational marketing.
- What is generational marketing and why is it important?
- Who is generation x?
- Who are millennials?
- Who are the baby boomers?
- How to use generational marketing to increase your ROI.
What is generational marketing and why is it important?
Generational marketing is defined as a marketing approach segmented to different cohorts of people born within a specific span of time. These people share a comparable age and life stage and grew up through particular events, trends and developments. As a marketer, it is important to communicate effectively with each generation. It allows you to recognize the behaviours of multiple generations and to adapt your marketing strategy if needed. Keep reading on to find out who each Generation is and what marketing tactics work for them.
Who is Generation X?
Generation X’s are individuals born between 1966-1980. With a total of 7.2 million Gen X-ers residing in Canada, they make up almost 20% of the population. They are the first to grow up with the internet in their lives but still value physical marketing. Research shows 46% keep promotional mail pieces for future reference and 84% use a physical method to follow promotions. For this group, the best strategy is to use both print and digital in a compelling way.
Who are Millennials?
Millennials are born between 1981-2000, with 9.6 million in Canada they make up 26% of the population. You may think the only way to market to millennials is through digital marketing? Well, surprisingly 81% use a physical marketing method when following a promotion. When marketing to millennials it is important to use a mix of digital marketing and direct mail.
Who are the Baby Boomers?
Baby boomers are anyone born between 1946 to 1965 with 9.6 million in Canada making up 26% of the population. Direct mail is the preferred way of marketing to this group as 73% look at paper flyers to create their shopping list. This group is more technologically savvy than some may think, but too many emails can overwhelm which can lead to high unsubscribe rates. Baby boomers stay highly engaged with traditional media and enjoy the tangible nature of direct mail.
How to use generational marketing to increase your ROI
Understanding each generation’s needs and wants can help you better target your ideal customer and therefore create more opportunities for sales.
If you are looking for ways to reach your target generation but are not sure where to start, contact your local DRMG representative today! In the meantime download our easy-to-read infographic for a quick tip sheet to reference when implementing generational marketing strategies.