Generational Marketing in 2022
Different generations respond better to different types of marketing. While multiple factors can shape your buyer personas and diverse groups in your audience, generations are one of the most vital factors to consider. It can help guide everything from what channels you use, the crafting of different messages and more. Various radio stations, for example — and even other streaming platforms altogether — are preferred by different generations and need additional messages.
Younger generations don’t just listen to different radio stations. They may use music streaming apps, prefer varying podcast apps, and interact differently with music online. As you’re developing campaigns for different generations, it’s essential to keep that core understanding in mind.
Utilizing Generational Marketing
Using demographic factors, such as age, gender, and income, can help you sort consumers into broad categories. It helps determine if any trends in purchasing behaviors exist and what marketing channels and assets work best for different target markets based on those factors.
Age is particularly valuable because it ties into different market segmentation factors. Through age, marketers can predict lifestyle factors, income, interests, and likely problems they need to address using individual products. For example, the demands Generation Z shoppers will have for personal finance or investing software will be very different from what shoppers nearing retirement age will need, so companies would need to refine different messages. That same company might also place certain radio ads on various stations and at which times, depending on the age of listeners.
However, age isn’t the only factor marketers should consider. By relying on age alone to shape your messages, you risk accidentally relying on generational tropes or crafting marketing campaigns that alienate broad swaths of your market. Combine age with other bits of information about your shoppers, such as demographic factors, how they engage with your marketing message and past shopping behaviors.
To gather all of that information, your organization will need to conduct in-depth audience research. If you know the goal of your advertisements and the details about the people you’re speaking to, you can create more impactful messages.
Reviewing the Generations
- Baby Boomers: Baby boomers range in age from 57 to 75. This generation has an average post-tax income of $67,950. Of all three groups, baby boomers spend the most on healthcare.
- Generation X: Encompassing the years of birth from 1965 through 1980, Generation X shoppers are between 41 and 56 years old. This generation has the highest post-tax income at $88,794, giving them the greatest spending power across many buying categories.
- Millennials: This generation has an average post-tax income of $58,628, and it comprises shoppers ranging in age from 25 to 40.
- Generation Z: This is the youngest generation, with ages ranging from 9 to 24. Most of this generation has not reached adulthood.
Labeling generational marketing in your ads can be incendiary, however. So it’s crucial to consistently identify which shoppers belong in each group and use more nuanced buyer personas instead of relying on generational factors alone. It’s also important to consider generational spending trends in terms of both the flat dollar rates and percentage of income. Because the income levels of your audience can differ wildly, you may see very different spending behaviors.
Reaching Generational Groups
While generational groups are essential, we briefly mentioned that they aren’t the only factor to consider. One of the best ways to organize your marketing research is by using generations as a starting point.
To start, you can identify different trends that are relatively reliant on age. Millennials will likely be buying houses and starting families, whereas Baby Boomers may be downsizing and retiring. Use age as a tool to determine more profound pain points and motivations rather than relying on age itself as a marker.
Taking age groups into account is crucial as you determine which marketing channels you’ll use to communicate with your audience. Media-based advertising has more variety than in previous decades. Consider these trends:
- Marketers can reach 94% of adults between 35 and 49 years old via radio.
- They can reach 90% of adults between 18 and 34 years old via radio monthly.
Radio remains one of the most effective means of reaching anyone, and it’s one of the few channels capable of reaching people of all age groups. You can reach more specific groups by choosing shows and stations your audience most likely listens to, then adapting your message to appeal to them. However, age is not the primary factor in determining successful stations, though age can indicate other interests your audience may have.
You’ll need to do more in-depth research to determine the best stations, times, and messages for strong radio campaigns. You can expand campaigns beyond radio by using radio influencers, streaming music and audio programs, and podcasts. These channels use similar marketing materials, but people can tune into podcasts whenever they please. When you identify the right influencer, they can promote your products themselves in a way that best resonates with your audience, either on-air or on their social media.
Use Generational Marketing to More Effectively Reach Different Audiences
Segmenting consumers based on age can help you get crucial insight into marketing and sales trends. Shoppers in the same generation tend to be facing the same goals and challenges because they’re often at (roughly) the same stage in life. But by itself, it’s not enough to guide effective marketing campaigns. At Hubbard Chicago, we can help you take basic demographic research and transform it into a more in-depth understanding of your market to conduct more effective radio and media campaigns. Contact us today to learn more.