Generation Gaps Create Challenge for Marketers

In 2010 we will be traversing a very tricky marketing environment –catering to no less than three generations whose spending habits, styles and influences are as different as night and day. As a smart marketer looking for the clearest path towards consumer dollars, you must do one of two things. Either recognize which generation represents your top target customers and exclusively market to this group or try to tailor unique marketing messages to each generation in hopes of garnering a larger pool of customers. Your first task is to determine which of these options is better for your bottom line.

I recently fell upon an article in the October issue of Lawn & Landscape magazine that breaks down the different generations and provides go-get-em tips for marketers. Below is a rundown.

Baby Boomers
Baby boomers are very concerned with retirement and savings especially during our recent economic crisis and most often pay with cash – not credit. Therefore, if you are going after their dollar, you’d better be prepared for a hard sell that incorporates relationship building and avoids sales tricks. Advertising Age recently reported messages suggesting advantages including guarantees, safety and experience are most effective with this generation.

Generation X
This tech savvy, highly educated customer base wants to evaluate their consumer choices and make their own purchasing decisions, yet easily cave to peer pressure. While brand loyalty is often lost on them, convincing a Gen-Xer that other Gen-Xers are doing the same thing makes for an easy sell.

Generation Y
Gen-Yers are the largest and most influential consumer group of the three and, thus, are the most attractive customers for many marketing professionals. Why? They are making the purchasing decisions and have (and are willing to spend) the money. They grew up in a pure consumerism culture and respond well to marketing messages. However, although they are young, it is important for marketers to treat them with respect and listen to their opinions. In some cases, big corporations have created branding around the input of this generation. (Think Apple.)

Take a good look at your marketing messages. Who are you targeting? Is the right message coming across for the intended audience? If not, it may be time to rethink and retool your marketing campaigns.