May 12, 2014

Following up on my April Millennials post, there are now six living generations in America that you need to target with your marketing:

  • GI Generation – People born between 1901-1926
  • Mature – People born between 1927-1945
  • Baby Boomer – People born between 1946-1964.
  • Generation X – People born between 1965-1980*
  • Generation Y/ Millennials – People born between 1981-2000*.
  • Generation Z/Boomlets – People born after 2001*

The dates for GI, Mature, and Baby Boomer and the beginning of Gen X are set and do not change. However, the dates for the end of Gen X, Gen Y and Gen Z fluctuate depending on what data source you are using.

Baby Boomers have driven consumer buying for more than 50 years. But they are now being replaced, not by Generation X, but by Millennials. These two generations, Baby Boomers and Millennials, drive marketing today and they see brand loyalty differently.

When asked how they think about brands, 64% of Millennials said they are more brand-loyal or as brand-loyal as their parents Baby Boomers and Gen X parents. Here’s more Millennial stats from the MediaPost report;

* 39% of Millennials think that brands that don’t advertise through mobile channels, smartphones, and tablets are outdated and undesirable.

* 32% of Millennials said social advertising lends the most credibility to influencing their brand decisions, compared to 35% who indicated TV as the most influential advertising channel.

* 26% said social is the most likely channel to introduce a new product that they will consider for 77% said they are evaluating brands on a different set of criteria than their parents.

* 55% said that a recommendation from a friend is a strong influence in getting them to try a new brand. 47% consider brand reputation to be almost as important. Product quality ranks fourth at 35%, while price has the most sway at 62%.

* 36% believe digital advertising is the most effective method of influencing their brand decisions, with traditional advertising as a standalone showing markedly less influence at 19%.

* 52% want brands that are willing to change based on consumer opinion and feedback to maintain future relevance.

* 44% want to have open dialogue with brands through social channels, and 38% want brands to be more about the consumer and less about the brand.

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