From the early 1950s, generational marketing has been used as the key factor for business owners to consider before developing products and marketing plans aimed at potential the customers. Generational marketing is a collective study based on the psychological behaviors, attitudes, and buying habits of a group of people born between certain dates used to denote a “generation” that is studied by generational experts.
Certain circumstances, events, and even disasters took place that completely changed the vision of a generation. Based on these occurrences buying habits and viewpoints of the generations changed accordingly. The first ever observed generation was named the “Baby Boomers” born between 1946-1964. Generational authors and generational experts say that post World War II success, new industry and housing market, coupled the impact of the Korean and Vietnam Wars and the start of the Cold War, the “Nuclear Family” and civil rights movement, made this generation face a slew of new technological and social concerns and growth that has been felt even now 70 years later.
The current generation is called “Generation Z” they are the grandchildren or even the great grandchildren of the baby boomers”. This Generation grew up with technology and information at their fingertips. Often said to be addicted to social media and new technologies buy generation experts, it must be noted that Generation Z is in fact a larger portion of the populous then the Baby Boomers representing over 25% of the current population. This new generation may be considered by some to be lazy, they are in fact, well informed and are more focused on world events then past generations and are in a key position to impact the global market as the years go on say generational authors.
Here are a few generational marketing strategies, you should implement to promote sales and profits for 2018 and the future.
In the vast ocean of internet, web marketing is one of the most effective ways for promoting your products and services. You may either get your own website to be developed or you can purchase advertisements on websites for your products. During a recent case study by generational experts, it was revealed that a well-designed ad can help your sales increased by up to 300%. There are generally two effective forms of digital advertisement:
• Banner Ads
• Video Ads
These ads are generally in a digital text form. Billions of people around the globe hunt on blogs for research, entertainment, and other purposes with banner ads showing on nearly every page. Blogs can be about any topic and it is wise to find one that would work in conjunction with your banner ads. A well-ranked blog site can get millions of visitors a day. Promoting your products and services on a blog with good following can produce some serious worthwhile results. If you can’t find an appropriate blog it is sometimes wise to start your own talking about your business, product, and industry. Become your own generational author!
Videos can captivate a huge number of customers with a well-done ad. Video ads are brief, straight-forward and fruitful when using as tools for generational marketing. Online video ads are categorized into following types:
In-stream Videos: These videos are played inside the video player that preempt the original video like the ads you may see when watching some content on YouTube. The majority of the cyber population spend 40 minutes on YouTube looking for videos. So, a single ad during a content playing can accumulate customers very quickly.
Out-stream Videos: These videos do not contain any other content besides than the product ad. such as a pop-up ad as seen on Facebook. Other examples are Interactive Video Ads, In-game ads, Companion Video ads and Web page Video Ads.
Know the Market
knowing how to reach your target market makes all the difference with generational marketing. Generation Z, for example, spends much of their time on social media sites like Facebook, Instagram, Snapchat. According to market research conducted by generational experts, an internet consumer spends at least 35 minutes on Facebook and 40 minutes on Snapchat everyday which is why ads on the platforms are considered so effective. Market research for specific ages and demographics can help a market plan more directly target your wanted client base.
Location, location, location
location is still vital for any business, but in the digital age you need to register your business online to promote your products along with your brick and mortar storefront if u have one. Though, Facebook, Bing Places, Foursquare people can actively search your company in these online directories. The most widely used search engine is provided by Google My Business. Google My Business provides a photographic view of your business place, chat and call option to the searcher, which can enhance your CRM, communication, and visitors to a next level. It also provides the option of the website, which makes the user jump on your website within a single click.
E-commerce and You
You can increase sales of your product and services by introducing them on e-commerce sites like Amazon, e-Bay, Flickr. These sites work like an online shop, which includes product quality description, price, pictures, and feedback. Unlike physical shops, these sites allow for customers to give feedback in the comment section and keep in mind that many customers pick products which is well-reviewed by its users.