Generational Marketing: Episode 21

Speaker A: Perhaps you've heard something like this before. Back in my day, we'd play until the streetlights came on. We didn't have Google. Heck, we didn't have computers. If we wanted the answer to something, we'd have to look it up in an encyclopedia or ask an adult. Nowadays, kids have a world of information at their fingertips. Kids today don't know what the real world is like, or what about boomers had cheaper houses, cheaper college, and somehow think the answer to everything is just work harder. They really don't get how different life is now, how much happens online, how fast things change, or how expensive just existing has become. They think we're glued to our phones, but our phones are how we work, talk to our friends, learn stuff, keep up with life. Sometimes it feels like older generations want us to live by their rules instead of understanding the world we actually live in. Today, we're looking at generational marketing. How to understand data, different generations, broadly speaking, and the best ways to reach them. But first,

Speaker B: I could really go for some ice cream.

Speaker C: Great. What kind? We have mint chip, mocha, salted caramel.

Speaker B: I don't know. I'm feeling more like a classic combo.

Speaker C: Napoleon ice cream.

Speaker B: You mean Neapolitan?

Speaker C: No, pretty sure it's Napoleon.

Speaker B: You mean the one with three colors? Yeah, Pink, strawberry, white, vanilla, brown, chocolate. It's called Neapolitan.

Speaker C: No, I mean the one with strawberry, vanilla, and blueberry. Red, white, and blue. After the French flag. Napoleon.

Speaker B: I've never heard of this.

Speaker C: Oh, it's a thing. Better than sorbet. It'll make you feel like you can sell Louisiana and start your own war.

Speaker B: This is insane.

Speaker C: No, it's delicious. The only downside is the size.

Speaker B: Let me guess. It comes in really short cones.

Speaker C: How'd you know?

Speaker A: Napoleon ice cream, not Neapolitan.

Speaker D: Welcome to Almost Productive, a podcast mostly about marketing.

Speaker C: I'm Sean.

Speaker A: I'm Julie.

Speaker B: And I'm Addie.

Speaker D: And we are all marketing professionals at New Boston Creative Group in Manhattan, Kansas.

Speaker A: Okay, well, that was a, uh, sponsor. But I'm excited for us to roll up our sleeves and dive into today's topic by way of intro. Can you all think of a pet peeve you have with an older or younger generation? Or a common complaint other generations have about people in your age group?

Speaker C: Man. Uh, I didn't narrow it down.

Speaker B: How. This is tough. Okay, I think the stereotypical. So I'm a millennial, but I'm right on the cusp. I'm a very young millennial. Or, depending on the chart, you're looking at the oldest gen Z. And I think that Julie's stereotype of the boomers kind of hit it on the head sometimes. Like the whole, why didn't you do xyz? And you're like, well, cuz you can't. Like that's not an option anymore. Like, I'm happy that that existed for you, but that is not how the world works. So yeah, I think, I think you hit the stereotype on the head.

Speaker C: Yeah. That is probably the most annoying is why don't people just do X? And you're like, because you can't do X anymore. People die doing X. We don't do X anymore.

Speaker A: I would like to go on record as not being a fan of stereotypes in general. Um, but I think there is value in trying to understand the experience of groups that are different from you. And in marketing, our goal is often to try to appeal to certain target audiences. So I thought we could break that down and talk about generations today, starting with baby boomers. And these are rough, um, age ranges. As Addie said. Sometimes it depends on the source that you look at, but baby boomers usually ages 60 to 80. Um, here are some key stats for this generation. They control 70% of US disposable income, 21% of them shop online. And of those, 52% shop online via computer, compared to 24% on phones and 11% on tablets. So interesting, uh, statistics there. What do you all think is most important to this audience?

Speaker B: In what context?

Speaker A: Like you've got a client who says, I'm trying to reach baby boomers, and you're thinking about, okay, what sort of messaging or, you know, what business offerings or benefits that you offer would appeal to them. So, uh, one example would be they really would want personalized customer service. They don't want to talk to a chat bot.

Speaker B: Where my brain went was like business tone and voice. Something that projects reliability, consistency, trustworthiness, reliability. Like, uh, a pretty, just like cut and dry, not a lot of fluffy.

Speaker C: Yeah, I was, when you were talking, I was thinking like, they want consistency in whatever that is. They want it to be like, oh, I can count on this. You know, whether that's a quality or a price. I think that's something that they look to then to know. Like, if I go to this restaurant, I can always expect this at this price or I'm gonna go shopping here. I know I'm shopping here because it's cheaper and that's great, but if I go shopping here, it's more expensive. I know that, but like they want to consistently, like, oh, when I go to something, here's what to expect.

Speaker A: Yeah, awesome. Love those. Um, what marketing strategies do you think would be most effective with this group?

Speaker B: I think depending on location, like something. So, okay, my brain went two different directions. One, Facebook, like this demographic uses Facebook more than some others. So Facebook ads, things of that nature. Um, they're probably also a little bit more receptive to traditional marketing. Like newspapers in your local area, even local radio. Um, like kind of old fashioned is not the right word, but more old fashioned, quote unquote routes.

Speaker A: Yeah, TV too.

Speaker C: Yeah, that was going to be. Yeah, my answer was, I think tv, um, because this is probably the highest demographic who still has cable, um, or some form of that and probably are not all streaming, even though that's sort of blurring together. But I think TV is probably a big one.

Speaker A: Yeah. Um, one other one I came across with this, uh, generation is direct mail. And I thought that was interesting because they're not necessarily seeking out a lot of information. They're not necessarily on their phones as much as younger generations. But if something comes to them, to the home, they're more likely to open it up and look at it and read it.

Speaker C: That makes sense.

Speaker A: What about the actual content format? Like what do you think they respond to from a, uh, content perspective?

Speaker B: I feel like clean, concise, again, not a lot of clutter, like easy to understand, easy to read, easy to follow up on, like step one, step two, step three. Or like here's our offering. We offer abc, like just very, no nonsense.

Speaker A: Yeah, yeah. And Addie, you said something. Read. And I think a hundred percent they're more drawn to written word.

Speaker B: Yeah, I think that's true too.

Speaker A: Yeah. All right, awesome. Nailed it. Baby boomers. Woo hoo. Woo hoo. Now we will talk about Generation X. This is roughly speaking, uh, people ages 45 to 60. Key, um, stats for them. Uh, their disposable income is approximately $115,000 a year. Um, about 66% say they use mobile phones, most for online shopping and 53% prefer big box retailers. So what do you think is important to this audience?

Speaker B: I think feeling like unique individuals is a little bit more important. Like they have a more unique sense. And this obviously we're painting with really broad brushes here, but getting more. And this is true, I think, of most of the younger generations, but maybe it starts at Gen X feeling as if they have a unique perspective or they're uh, a unique person. So not as cookie cutter. Like they want something that's a little more customizable to themselves.

Speaker C: Yeah. Because this is kind of a lost generation in. In terms of discussion, because they're. They're stuck between the millennial and the baby boomer. So you get a little mix of depending on what end of the age spectrum you're on. Like, who do you feel more aligned with as far as, like. Yeah, do they. Are they more aligned with that? Like. Yep. I grew up in this type of household, and so we're continuing on this. This path versus. Yeah. More on that millennial side, where you're wanting to be a little different, be a little more individual and are looking for more unique, uh, I think options for your purchases.

Speaker A: Yeah, Sean, you mentioning the lost generation. So something that came up in my research was, uh, they like loyalty programs and it, um, and recognition from brands. So I think just that we. Hey, we see you. Is important to them. Another value I came up with them is authenticity and also practical value. Because if you think about where this generation is in their lives, they're dealing with, you know, older children, older adults, you know, many home ownership. So, like, they're. They're really trying to figure out a lot of different things. So they really just want something that's going to be, uh, valuable, practical for them. Let's talk marketing strategies for them. What do you think would be most effective to reach them?

Speaker B: I feel like they're more online. So, like, your Instagram still, Facebook probably, um, maybe even YouTube or streaming, like some of those more video kind of options. Definitely less of the traditional mediums than with the boomers.

Speaker C: Yeah, the first generation to get into streaming in YouTube pretty heavily. And so there's probably a lot of reach that you can get there.

Speaker A: These are broad age ranges, you know, so depending on where they are in the spectrum, I do think you could get away with some traditional for them. Maybe have a mix between the traditional and the digital, just because you're talking to a wide range. Um, and Addie, you mentioned social. Another platform, I think, for them is LinkedIn, because these are. They're later in their career, they may be approaching or thinking about retirement. So they've probably achieved some measure of bar quote unquote success or looking to, you know, achieve, uh, pre retirement. So I think that would be a good platform for them as well.

Speaker B: Agree.

Speaker A: All right, let's tackle millennials, uh, which. The broad age range for them is 30 to 45. I don't know if I believe my source, um, but this listed their disposable income at $98,000. A year. 80% do most of their shopping online. 56% use their phones. I feel like that might be higher. This I thought was really interesting. They spend and shoot. I didn't write the source, but it's such a. An exact number. $208.77 per day, and they were listed as spending the highest per day than any other generation. And I was like, how is that possible? 40% read online reviews before buying. 40% shop on social media in particular, not just online, but on social. 72% say social affects their buying decisions. What do you think is important to this audience?

Speaker C: This is where you really started getting into, um, a generation of people who have some strong beliefs about what they want to purchase and from who and how it's made. And there's a real sort of division here of like, oh, do they want to shop local? And that it's environmental. And those sort of things become big.

Speaker B: And I think, like, peer status. So social status is important to millennials. Maybe more so than. I think every generation cares about that a little bit. But, Julie, your point about reading reviews, I think kind of speaks to that. Like, what does my peer group think about this? And then what should I do based on that information?

Speaker A: Yeah, y' all nailed it. It completely aligned with, uh, what the research showed. Um, brands with purpose, peer influence, uh, ethical consumption, and social responsibility ability. It's like, you all might know this generation. So what marketing strategies do you think would be, uh, most effective for them?

Speaker B: Yeah, definitely an app like TikTok or Instagram ads. Definitely streaming, definitely YouTube. I also think that millennials travel more than any other generation. Like, so I don't really know exactly what to do with that. But when you're targeting, like, that could be, um, if you're restricted by age, something to consider.

Speaker C: Yeah, because this is the. This is the first generation who either got technology early or, um, have had it their whole lives. Because, like, I'm at the. I'm at the old end and so, like, uh, you know, the first home computer, I was in middle school or late grade school on that end. But then on the younger end of this generation, then, like, you were born and, you know, the. I don't know, was the iPad around them, but maybe so, like, first generation to really fully embrace all the digital technologies that we have.

Speaker B: And very adaptable, I think, to technology for that reason. Like, there's more early adopters, definitely more so with Gen Z. But, like, having to adapt with the technology versus having the technology exist once you're a fully formed adult like, you're growing up and these things are changing and morphing at the same time as your brain.

Speaker C: Right. Because it's evolved a lot over my lifetime versus, like, yeah, if you're my kids, it's, you know, they've only known an iPad and iPhone at this level. It hasn't progressed as much as it did through my lifetime yet.

Speaker A: Yeah, yeah, yeah. Um, Addie, you mentioned ad targeting, and I think too, just the organic presence is important to be on site. Like, if you're not on social, trying to reach this generation, you're not reaching them. You mentioned reviews, but also influencer marketing I think would be advisable for them.

Speaker B: Great call.

Speaker A: Um, and even, you know, we often advise clients to solicit positive reviews from their own clients or their customers. And because, uh, Adi, you mentioned, like, peer review influence, I think getting those reviews would also be really effective, so focusing efforts on that for them. All right, last up, because we're not going to bother with people under 20 right now. Y' all need to earn money before you can spend it.

Speaker B: And you can't target people under 18 on most platforms, so.

Speaker A: And you wouldn't want to anyway, really.

Speaker B: Exactly.

Speaker A: So we'll talk, we'll close out with Gen Z. Uh, roughly. This is ages 20 to 30 is, um, key stats about them as a generation. This is a combined 360 billion with a B like Bravo in purchasing power. 52% prefer to shop online, 43% begin product searches on TikTok, 38 on Google and 36 on Amazon. 73% of them are willing to pay 10% more for sustainable products. So what do you think is important to this audience?

Speaker B: Yeah, I think even more so than millennials, ethical sourcing the company's Persona, who they're donating to, their political affiliation. Um, yeah, all of those things.

Speaker C: Right. I was thinking like, yeah, just take everything and then crank it up a couple notches as far as what they, uh, what they find important.

Speaker B: And like, transparency for all of those things too.

Speaker C: Transparency. And then to add like, I'm not sure how to describe, but like the, the ability to, like to change loyalty in an instant. Um, to, to follow sort of like pure thought of like, this company is good or bad and they will absolutely, like drop you hashtag, cancel you. Like if they need to, they're not scared.

Speaker B: Yeah, yeah, like less brand loyal or product loyal and more mission loyal. So like if they've been attached to a product but then find out something about the company, they have no problem dropping that product. So, like yeah, that's admirable. I think.

Speaker C: Yes.

Speaker A: Um, something that I think has kind of been said between the lines, but I want to call out as explicit because I think we, we assume it as a given, but that uh, versus the baby boomers. Addie, you use the word, uh, read. You know, this is a visual generation. They want highly interactive content. Highly visual content. And because most of them are engaging on mobile devices, that is mobile first experience for when trying to reach them. Every, you know, everything should be responsive. But is your mobile experience super engaging? Do you have an app, not just a mobile website. That sort of thing will be important for them. I, I feel like. And also, um, another piece that, that I came across was, um, content that feels native to their platforms. And Addie, that's something we talk a lot about with clients is, you know, if you're going to post on, you know, certain social media channels, follow those mores, adhere to what's happening on that platform. And I think that's especially true for this audience. They're gonna sniff out like, wait a second, that's not, that's not.

Speaker B: Yeah, very sensitive to potential cringe. Like you need to.

Speaker C: The tone and messaging need to match where they're at and who it's from. Um, or yeah, they'll, they'll note it immediately.

Speaker B: Yeah, authenticity is great. And not feeling like you're trying too hard, which is hard because you do need to try to achieve that. But like the appearance of effortlessness, I think goes a long way.

Speaker A: Yeah. All right, so let's talk about marketing strategies for them. What would be effective?

Speaker B: I think the biggest are TikTok and YouTube.

Speaker C: Yeah. I think you could toss in Instagram, depending on what your service is. And then, yeah, I think you just, you're just hammering all these points of being honest and transparent about what your product does and who, who's it's for. Because like we said, they'll, they'll be able to see through any of your sort of salesy jargon.

Speaker A: Yeah, I think short form video for them in particular as well. Yeah. Awesome. Well, I have a few final thoughts. Uh, but I'd love to hear if you all have, you know, having talked through the different generations, if you all have any.

Speaker C: I think in general it can be difficult to manage when you're targeting different generations and like, why you should be targeting them. Because one of the things that, you know, we sort of touch on when you're giving out all the stats is like, who's got the money to spend? Right. And usually that's the older generations are the ones who have the money to. To make these purchases. But, uh, it's hard to rely on that because you need to be building up that next set of customers was like, oh, so we need to be targeting millennials even though they have less money than this other generation? Or, oh, yeah, our brand really speaks to gin. Whatever. But, uh, they don't have that much money right now, so it could be a weird balance to make, um, depending on what you're selling.

Speaker A: Yeah, yeah. And also really thinking about your own business model. What are your products or services, and what are your price points. Are you really after the right market? You know, this is useful, but it should not be the only lens by any stretch. Um, in fact, some studies have shown that if you incorporate generational but tack on interest, that that can increase conversions. And I think absolutely, that's gotta be true. You know, uh, connecting your audience more on things like, uh, their shared values, sense of community, behaviors, rather than just you're how old? Go in this box. One finding is that personalization and providing help for helpful information matters across all age groups. So every generation responded to that. Um, and that's something we talk about with clients a lot. The golden rule. Put your client first in your content. Always frame things from their perspective. This did not come up. But email also works across all generations. So, you know, we talk a lot about traditional and social, but email is that invisible tactic that you should absolutely have in your stable. Okay, so we're gonna round out the episode not with jokes, not even with fun facts, but with trivia. So which generation is the only one to prefer social media over email for brand communication?

Speaker B: I feel like that's gotta be Gen Z.

Speaker C: Um, I'll say Millennials, Gen Z.

Speaker A: But no, Addie, we're not keeping score, so you don't get a shoot.

Speaker B: Okay? Just know that I am in my head.

Speaker A: All right, which generation do you think is most responsive to loyalty programs for brand loyalty?

Speaker C: Did you. Did you mention Gen Z, that this was Gen Z?

Speaker B: I think she mentioned it, but I think it was Gen X. Gen X.

Speaker C: Sorry. Yes. Sorry I said the wrong thing.

Speaker B: Sure.

Speaker A: It is gen X. Yes. 57%.

Speaker C: We talked about it. Yeah, yeah, that said the wrong, um. Said the wrong letter.

Speaker A: Yeah. Geez. Which could be an X if you think about the word xylophone. But, um, interesting, though, they were really only slightly ahead of millennials, who were 55%.

Speaker C: That was almost like a trivia question on if we were listening during the podcast.

Speaker B: Yes.

Speaker A: Um, I should. I should point out these stats. The data came from Data Axle. So I should. I should cite the source where I got these percentages from. Okay, which generation is most likely to say price is the biggest driver of brand loyalty?

Speaker C: I'm going to go Gen X. I'll say Baby Boomers.

Speaker A: Why not? Why not? Sean? 62%. Good call. Good call. All right, last one. Which generation is most likely to prefer monthly or less frequent outreach?

Speaker C: I'll go, uh, I'll go Gen Z on this one.

Speaker B: I was also thinking Gen Z.

Speaker A: See, there's more that unites us than divides us, because the answer is baby boomers at 34%. Well, that's what we got for you today, folks. Generational marketing.

Speaker D: Thank you for listening to this episode of Almost Productive. If you'd like to learn more about what we do at New Boston Creative Group, you can reach out to us@newbostoncreative.com you can also follow us on social media, ewbostoncreative on Instagram and New Boston Creative Group on Facebook and LinkedIn. If you liked this episode, please, like, follow, subscribe, leave a review and share the podcast with your friends. And if you didn't like the show, feel free to recommend us to your enemies. Tune in next time for some more office shenanigans, thoughts on trending topics and marketing adjacent insights. And until next time, we hope you have a productive day.