Small business owners know that not every marketing tactic will work on every person. When you understand exactly who your target customer is, you can figure out what your product or service will be and what kind of marketing will work best. If you are considering giving your business plan a makeover or developing a new one, you should first get to know your consumer audience.
In spite of the fact that consumers these days do not like to be singled out based on gender, education or income, it is still extremely useful to get a big-picture view of your target customer. For example, if you are marketing to seniors, you should know that the font on your website should be a large size so it is easy to read. You should also know that a background that is light or white in color is best and to avoid overusing Flash. Knowing these types of facts about your customers will let you know what kind of tactics will work best. Customizing and personalizing your marketing strategy is essential to your success. Below are five distinct generations and a brief description of each:
Also referred to as Gen Z, this is the Internet generation. They are the children of the youngest boomers and because they are still so young, theories on marketing and demographics for them are ongoing. One thing is for certain about Gen I: they are born entirely in the Internet age to parents who are overall more accepting and have knowledge about this technology.
Gen Y differs from Gen I because many of the parents of this group lack technological know-how or acceptance. This generation is known as the Millennials or echo boomers and are 9 to 27 years old. Many Gen Y live at home due to the higher cost of living and over-protective parents. They are a group of 75 million and have disposable income. This group is especially responsive to Internet marketing campaigns because they grew up with computers and can process information quickly. They also develop brand loyalty and like clever marketing that uses humor or is unusual.
There are 44 million Gen Xers born between 1965 and 1975. They are entering their peak earning and buying years and are tech savvy. Gen X loves to shop and has a high value for education and knowledge. But beware, they are not easily wooed by brand prestige. They want to know how your product affects them and why it is a good value because they are frugal and independent.
This group makes up 76 million people and has incredible buying power. They spend an average of $400 billion more than any of the other generations each year. They vary from empty-nesters, boomer grandparents, single, married and full-nesters. What ties them together is the ability to evaluate advertising and determine its value to them. By 2030, this over-60 group will grow by 80 percent. Do not label them as old. Appeal to their youthfulness when marketing to Boomers.
The Greatest Generation
Known as octogenarians, this group was born between 1909 and 1945. They are much more careful than their other generations when it comes to spending and who they do business with. They have lived through or were born during the Great Depression, World War II and many recessions. They do not shop for fun and have seen it all when it comes to advertising. This savvy group has pensions to rely on so keep that in mind when marketing to them. They also tend to be extremely loyal customers so be sure you let them know the value of your product or service. Another valuable fact: They buy 25 percent of all toys sold in America because most are grandparents. They are also living longer than ever before and are healthier than ever. They want products that appeal to an independent lifestyle. And don’t think that octogenarians don’t use the Internet. The U.S. Census Bureau found that people over the age of 65 spend more than $7 billion a year online!
If you found this information helpful, be sure to check out our post “Who Does Your Social Media Target?“. Organik SEO is passionate about helping businesses grow by tapping into the power of social media and SEO. To discuss how we can help you grow your business, contact us today!