Multigenerational Marketing Strategies
Multigenerational marketing strategies are a widespread discussion in today’s marketing circles, as modern organizations often have a target audience that includes multiple generations. Baby Boomers, Gen Xers, Millennials, and Gen Zers make up the majority of adults in the United States. Each generational cohort is unique in how they connect with organizations online. This generational diversity can present a few challenges to organizations operating on limited resources tasked with being all things to all people. Understanding generational differences can help mission-driven organizations foster strong relationships with their target audience.
What is Multigenerational Marketing?
Multi-generational marketing is the practice of appealing to the unique needs of individuals within more than one specific generational group. For the purposes of this discussion, a generation is defined as a group of individuals born and living about the same time. These group members often encounter similar economic, sociologic, and political experiences, and these experiences play a role in shaping generational values, needs, and interests.
Multigenerational marketing theory is based on two founding principles: (1) consumer needs change with life stages, and (2) advertising campaigns targeting generational groups that reflect generational values may influence consumer behavior.
Very few organizations find it feasible or sustainable to market to only one generation. Those that do often have to rebrand themselves as time progresses to evolve with the generation itself. We see this a lot with fashion brands. Given that markets often span multiple generations, multigenerational marketing is an essential part of any effective marketing strategy. Multigenerational marketing that’s effective can be quite challenging, as creating marketing campaigns that resonate with multiple generational audiences in a cost-effective way presents numerous obstacles.
The Challenges of Marketing to Multigenerational Audiences
The generation-based differences from one generation to the next directly impact the success or failure of multigenerational marketing campaigns. An advertising campaign that appeals to a teenage Gen Zer may not resonate in the same way to a Baby Boomer expecting their first grandchild. These two different generation cohorts are in different life stages, demonstrate different consumer behavior, and may display contrasting value systems that impact what type of messaging resonates with them.
Additionally, marketing effectively to one generation may exclude another generation. For example, if you spend all advertising funds on Instagram to reach Millennials, you may not connect with Gen Xers who are not, as a cohort, as active on Instagram. Hence, why you need a multigenerational marketing strategy - one that includes all generational groups of your organization’s target audience and identifies multi-channel ways to connect with each cohort in an effective, generationally informed manner.
What NOT To Do When Marketing to Multigenerational Audiences
Very few organizations market to only one generation, so it’s essential to identify ways to incorporate multiple generation-specific tactics into your organization’s marketing repertoire.
But before we talk about what to do, we’re going to talk about what NOT to do in a multigenerational marketing strategy.
Here’s what NOT to do when implementing a multigenerational marketing strategy:
Don’t assume that everyone in the same age bracket will behave the same way.
Segments exist within generational cohorts, suck as “yuppies” and “hipsters.”
Customize all marketing strategies to your specific target audience and their demonstrated consumer behavior.
Don’t assume younger generations are the most price-conscious due to their lower income and networth status.
Baby Boomers are actually observed as being more price-conscious than Millennials, who earn less than Baby Boomers.
Don’t assume all young demographics are active on social media and all older demographics consume traditional media.
Baby Boomers are currently the fastest-growing segment of Facebook users.
Traditional marketing tactics, such as direct mail and radio, are increasingly successful with Gen Xers.
Don’t generalize cohorts with assumptive terms.
Don’t refer to Baby Boomers as “old,” “elderly,” or “seniors.”
Don’t refer to Gen Zer’s as “teens,” “young people,” or “kids.”
How to Develop a Successful Multigenerational Marketing Strategy
Developing an effective multigenerational marketing strategy can be very rewarding for modern organizations, as it can enhance brand sustainability, increase market share, and position the organization for a sustainable future.
Here are a few tips for developing and implementing an effective multigenerational marketing strategy:
Research the organization’s multi-faceted target audience(s).
Identify each generational cohort represented in your organization’s target audience. Segment each generation represented further into subgroups based on demonstrated consumer behavior and life cycles. Stereotyping generational cohorts can lead to missed opportunities; thus, organizations should conduct market research to really understand all generations included in the target audience.
Incorporate generation-specific marketing strategies into your overall marketing strategy.
Understand the backgrounds, characteristics, lifestyle preferences, priorities, and values of each generation identified within the target audience. Adjust marketing strategies accordingly. Recognize the different behavior of generations and implement targeted marketing approaches based on data. An example of this would be developing an influencer campaign to capture Gen Z and Millennial audiences, and a nostalgia-based campaign for Baby Boomers and Gen Xers. Additionally, organizations should pay attention to generational lifecycles. The brands and purchases that Millennials prioritized ten years ago may not be what they prioritize right now - priorities change in response to life events.
Prioritize the development of brand-market relationships.
Marketers also need to build relationships with each specific generation represented in their targeted audience or community. For example, each generation has preferred methods of communication and trusted sources of information that the marketer should understand and be using. It is the marketers’ responsibility to know and understand their specific markets. Gen Zers may prefer texting, while Gen Xers may prefer email.
Authentic marketing is effective for all generations.
All generations are increasingly skeptical of intrusive marketing techniques that feel intrusive and spammy. The emergence of the internet has made it easy for unethical brands to exploit target audiences through misleading digital marketing tactics. When developing a multigenerational marketing strategy, the organization should evaluate every aspect of the campaign for authenticity. Successful marketing campaigns invite the target audience to engage with the brand - they do not intrude on the target audience’s lives, inboxes, or social media feeds.
Social media should be a priority for all modern marketing strategies.
Social media is utilized by all adult generations - Baby Boomers, Generation X, Millennials, and Generation Y; thus, social media will be included in any effective multigenerational marketing strategy. While generations are active on social media, each generational cohort uses social media platforms differently. Consider gearing your brand’s social media presence on each channel to one or two generational audiences, when appropriate. For example, Snapchat and Instagram may be best suited for Millennials and Gen Zers, while Facebook and LinkedIn may be better suited for Gen Xers and Baby Boomers due to usage patterns. Recognize that not only are the generations on different platforms, but also, they use social media in different ways - for different purposes.
Learn more about multigenerational marketing:
Organizations interested in sustainable success are all tasked with multigenerational marketing. While challenging, developing an effective multigenerational marketing strategy is not impossible. Understanding the differences and similarities between generations is key in developing an effective multigenerational marketing strategy, along with customizing the multigenerational marketing strategy to the organization and its unique target audiences.
To learn more about successful multigenerational marketing strategies, contact Becker Digital to schedule a consultation call to discuss your organization’s mission, goals, and marketing needs.