Everyone is part of a specific generation. We hear all the time about the Baby Boomers and the Millennials, but what about Generation X? And how do you market to each of them?
We know them as the children from after the war. According to US Census data there are around 77million people in this generation. It is a declining generation due to their age at this time. Unlike the millennials, they do usually have more money to spend due to retirement and other factors. Contrary to popular belief they are large users of the online interface. However, they are mainly using search engines and email not social media. Effective tools when targeting this market would be TV commercials and the use of Google AdWords.
Generation X is often forgotten about because of their smaller size and difficult classification. They are only about 61 million people in this generation in the US and were born between 1965 and 1982. This generation consists of people that are at the peak of their careers and are large consumers. Interestingly, they carry many attributes of both the baby boomer and millennial generations. They use social media like millennials making it a great way to market to them. Coupons and direct mail are also great ways to market to them because of the more traditional values they hold.
According to Goldman Sachs these are the children born between 1980 and 2000. They are currently the biggest generation at 92 million people. Despite the fact that they are the largest generation they are also the most price sensitive. It is said that 53% of consumers in this generation price compare while in a store. They do this through technological means. Not only are the millennials the most tech savvy, but they are also bringing attention to health and wellness in the market place. The most popular techniques for marketing to them are social media outlets. They are very brand loyal, in other words you need to make your brand known!