It’s no secret that determining your target market is essential to running a successful business. Many companies however, fail to grasp the most important part of this concept- understanding the psychographics, consumer behavior, and characteristics of said target market.
Many consumers’ personalities, buying behaviors, and perceptions of life are shaped by the generational cohort in which they belong. Certain world events, inventions, technological advancements, and social fads all play big rolls in creating defining characteristics throughout each generation.
There are many different ways you can reach your target audience, such as direct mail, e-mail, social media campaigns, magazine subscriptions or phone calls. Determining which platform is best for your business is dependent on which method your targeted generation(s) respond best to.
For example, Generation Y (born 1977-1994) is arguably the most up-and-coming generation as of late. These consumers are the children of the Baby Boomer generation, also known as, “echo-boomers.” These consumers are easily targeted via several different promotional strategies, and are extremely receptive to new ideas and trends. Generation Y was born within the digital age, adapting quickly to the new media driven world. They are impatient, mostly educated, and constantly seeking social acceptance and attention.
Taking this into consideration, effectively reaching a Generation Y consumer via marketing campaigns might include e-mail deployments, social media advertising, and direct mail pieces. Honing in on certain relevant events, color trends, and up to date imagery are all elements that are equally as important as delivering a strong message that educates and inspires these consumers.
Furthermore, adapting your business strategy, products and services to cater to the wants and needs of your target generational cohort is important. Creating an experience that is seamless and personal to your consumers will result in cultivating long-term relationships, and ultimately huge profits for your business.