While many marketers have correctly started to serve the needs of the individual customer by personalizing marketing communications, there are generational factors that should be taken into consideration when developing marketing programs. A leading marketing technology firm, Yes Lifecycle Marketing, focused a study of 1,000 consumers on generational differences and similarities, some of which are noted here. For definitional purposes, Centennials are consumers under age 21, Millennials are consumers ages 22 to 37, Generation Xers are ages 38 to 52, and Boomers are ages 52 to 70-plus.
The research study uncovered the following:
- More than 80% of Centennials and 74% of Millennials say social media influences their shopping, compared to only 58% of Generation X and 41% of Baby Boomers
- 50% of Centennials based their last purchase decision on product quality, more than any other generation
- Millennials care about loyalty rewards more than other generations
- Millennials are more likely than any generation to find email (67%) and mobile apps (61%) important when making a purchase decision
- Generation Xers value email (59%), and are less interested in other digital channels like social or display
- Boomers rank direct mail higher than any other generation (59%), while 59% also say they value email. Only 19% say they value social.
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