How to Successfully Market to the Coming Generations (Part 1 of 2)
An interesting shift is coming. As each day passes, younger men and women enter the workforce. They think and act differently than any generation that has come before them. When it comes to identifying a generation and who exactly is part of which generation, there is some back and forth and a few different opinions. For clarity, this article will be using the years and definitions as presented by GenHQ.
The so-called millennial generation (born 1977-1995) is made up of people who are currently anywhere from 18-34 years old. Their generation is primed to begin taking over occupying seats of power within businesses (if they haven’t already). Marketers must know what appeals to them and how to effectively reach this new generation coming to power.
Coming right on the heels of the millennials are what is be calling Generation Z (born 1996-present). Though the oldest members of Generation Z are still only in their early 20’s, they respond to and follow many of the same trends that were established by the millennials before them.
Moving forward these two groups will be the most sought after customers for brands and companies to target. Over the next two weeks we will cover how companies should prepare for and target these coming generations.
Up Your Social Media Presence
Why Should Your Marketing Focus on Social Media?
Though older generations have not embraced it as fully, the up and coming young generations LOVE social media. Of those between the ages of 18-29, 90% use social media. That’s compared to only 35% of those 65 or older. It’s clear a shift is coming.
Though 46% of B2B marketers are unsure if social media has generated revenue for them, 33% of millennials identify social media as a preferred channel of communication between themselves and businesses. And 57% of consumers report that they are influenced to think more highly of businesses after seeing online praise or feedback.
While companies may be on the fence as to how much hard revenue is created through social media, the impact of the tool is clear. As social media platforms continue to expand into new areas such as live stream communications and new entertainment programming, it’s influence and popularity does not appear to be diminishing any time soon.
What Do These Social Media Trends Mean for Your Marketing?
It’s no secret that social media is extremely popular. In fact 2.1 billion of the total 7.2 billion global population have and use social media accounts. The millennial and z generations are more heavily involved than any other age groups.
When you think about it, it’s not hard to see why. Most millennials and almost all of generation z have grown up in a time of tremendous technological advancements. They have had access to television, internet, and personal cell phones for most of their lives.
They are comfortable with technology and make it a part of their everyday lives. Those marketers and brands who embrace this fact and engage with them will have a major advantage over those who continue to rely on more traditional tactics.
Be Sure to Utilize Native Marketing
Once you’ve made the decision to focus on this younger generation on social media you have to find a way to catch their attention. Posting snappy and humorous tweets can get you attention and possibly boost sales, but marketers must strive to deliver focused and tailored messaging to a specific audience.
To Maximize Your Reach and Influence On a Desired Audience on Social Media It’s Crucial to Take Advantage of Native Marketing
Simply put, native marketing is a paid advertisement that is presented in the native (natural) flow of the medium it is being presented in. For example, an ad written up as and appearing in your Facebook Feed as opposed to a standard banner ad.
Not only does this look and feel less intrusive, it is highly effective. It was found that 25% of consumers were measured to look at native in feed ad placements at a higher rate than that of banner ads. But even more impressively, 97% of mobile media buyers report native ads being very or somewhat effective in achieving their brand goals. This non intrusive messaging method is a great way to reach the swelling numbers of younger generations flocking to and living on social media.
More Tips for Marketing to the Younger Generations to Come
As I previously stated, each day we grow closer to this technologically savvy generation taking the reigns and running businesses around the world. The industries of construction, agriculture, machine tools, as well as various other industrial markets are no exception.
Knowing how they think, what their tendencies are, and how to reach them will allow you to not only be prepared for the changing times, but excel in them. No matter who is in charge or what other shifts in technology occurs, the one thing that remains the same is the importance of data.
For as long as marketers and advertisers have been around they have always relied on data to help them navigate the changing cultural landscapes. The data gathered and provided by EDA can help you gain industry insights and target prospective customers.
As the younger generations slowly take over for the old guard, utilizing this data and implementing it with your efforts on social media and through mobile native ads will allow you to adapt, succeed, and thrive.