In preparing for the next Simply SaaS University class, it got me thinking about how there are so many ways to market to so many different types of people. I like marketing because it’s about relationships and also about psychology (personally, two of my great interests). But how can you make sure you are appealing to everyone? There are many generations, each with their own experiences, each with their own preferences, which means, each their own marketing strategy.
As technology becomes more a part of our lives, influencing our decisions, becoming staples in our routines, marketing has grown to be more strategic and intentional. But how can we make sure to not leave the less tech fluent behind?
For instance, Baby Boomers are more likely to click on Facebook ads whereas millennial know how to turn on ad blockers as soon as they log on. No matter the product or service, B2B, B2C, or C2C, great marketing can affect your company dramatically. Hopefully these insights will help:
Baby Boomers: Born 1946- 1954
- These folks have the mentality that if it’s not broke, why fix it? They like to stick to what they know and a new upgrade or product doesn’t always hook them.
- They are also more constituent to where they buy from. They have high brand loyalty and prefer not to change.
- This generation is also most susceptible to more traditional marketing and sales strategies i.e. TV and newspaper ads.
- They would prefer to talk to a real person before they make a purchase.
Generation X: Born 1966 - 1976
- These folks are busy bees! They are most likely raising children, paying mortgages, and tuition, and working a lot.
- More than 80% of this generation are on Facebook and Twitter.
- They grew up without the online experience, so they still enjoy brick and mortar, but have fully accepted online shopping and services as well.
Generation Y/ Millennial: Born 1977-1994
- They entered the workforce as the economy crashed and because of that, they happen to be the LARGEST generation of entrepreneurs.
- They are likely to value social issues before economics, according to the Brookings Institute, 64% of millennials would rather make $40,00 a year at a job they love than $100,00 a year at a job they think is boring.
- This generation is also heavily influenced by peers: see chart below
Generation Z: Born 1995 - 2012
- These folks grew up with social media and are very tech-savvy, so direct individualized content is more effective.
- Generation Z will account for 40% of all consumers by 2020, according to statistics compiled by Fast Company.
- Get to the point! They are used to making decisions quickly, so communicate your message and value propositions clearly and fast.
- Use a mobile-first strategy.
- Highlight company values on their preferred platforms.
There is a lot of overlap between Millennials and Generation Z. To help distinguish the difference, Google conducted a study to show what brands “teens think are cool.” For example, the study found that both millennials and members of Generation Z thought Tesla was one of the “coolest” companies in the world. This is an impressive accomplishment since many of the respondents aren’t old enough or able to own a Tesla.
In the SaaS world, your product might not be the most attractive thing on the market, but as long as you can speak to your target consumer group and market well, you’ll see success! If you want to get more into the details of marketing strategy, we are hosting a session on Pirate Metrics: Acquisition, Activation, Retention, Revenue, Referral. Sign up for the next session on Marketing with Asia Matos on July 26th!