Generational buying behaviours

Generational buying behaviours | Customer Profiling

Following on from some interesting stats that we shared in our recent webinar,  ‘post pandemic human connections’ we’ve expanded into a blog post. If you missed our webinar check it out here.

Customer profiling

Any brand or business needs to know who their customers are and who to market to. A good starting point, is to refine your customer profiles, avatars, buyer persona, whatever you want to call it, it’s a great place to start when refocussing your marketing.

‘Don’t focus on the dream clients, who are your real customers, the ones purchasing from you.’ Stacey Kehoe, Lively Lunch and Learn – Marketing? What the hell do we start now?

It is easy to assume, you think you know who your customers are, we recommend using the hard data and resources you have to help create your customer profiles.

Some steps to research and establish these customer profiles are to; interview existing customers, online surveys, email marketing (if you have the resources, offer a small discount for completing the surveys), website analytics, Google Tag Manager and social media analytics.

It is also important to keep up with social trends and generational buying habits to future proof your brand and business.

Generational buying behaviours

So, what are the current generational buying behaviours and how have they changed since the pandemic? *

Baby Boomers – 52-70years old

Have seen a huge shift from buying in store, previously 84% to being responsible for 55% increase in home delivery in services such as Gousto, Mindful Chef and Hello Fresh. Baby Boomers will be a faithful, repeat customer if they get great customer service, LoyaltyOne found that Baby Boomers were most likely to abandon a purchase following a subpar customer experience.

Generation Xers – 36 – 51 years old

Love a good old HTML email, although they are technically savvy, they are more likely to be influenced by email marketing campaigns over social media. 60% of Gen Xers use smartphone, while 67% use a laptop/PC on a daily basis. The best way to market to Gen X is through laptops and desktops. Make your website fantastic with a clear line to purchase, send email marketing campaigns and set up re-marketing.

Millennials – 18 – 35 years old

Millennials are now the largest group in the workforce. 33% of millennials rely on blogs before making a purchase, and 8/10 millennials will not make a purchase before reading a review first. Millennials are the only generation that has cut back their spending by 63% due to the pandemic, however they are 50% more likely, to purchase from a company that supports a cause #NHS etc. Less than 1% of millennials are influenced by traditional marketing. Word of mouth, user generated content and social are sell to this group.

Generation Z – 2 – 17 years old

Mobile is the way to connect with Gen Z. Gen Z are spending twice as much time on their phones than millennials. 77% of Gen Z prefer real people and authenticity with 65% disliking adverts that make life look perfect. Nearly half of all Gen Z want to be able to find things quickly and 93% of parents say their children influence the family spending and household purchases.

Need additional help accessing your customer profiles and buying behaviours? Book an appointment here.

 

*Data from Revel Systems white paper – The Generational Breakdown of Purchasing Patterns.

 

June 17, 2020