I was recently speaking with a friend of mine who owns a company that provides marketing and other corporate analytics. We like to debate back and forth on marketing approaches, who is leveraging the market on spending, how are companies changing their marketing techniques to better suite their demographics, etc. This morning I brought up how I felt that large corporations are not effectively marketing to millennials… his response back was, “Marketing to millennials is generally a waste of time. Baby Boomers have 10x the wealth.”
I understand the sheer fact of that comment: larger amounts of disposable income = more spending power. However, there are plenty of products that are targeted directly for a younger generation. I am pretty sure Baby Boomers are not interested in the “New Improved Tampons,” the top 10 Spring Break Destinations or the new styles that Aeropostale clothing company are launching.
Defining your customer base is the first step to ensuring that you are marketing and promoting to the correct demographics. I received a business card recently that said, “A Mature Approach to Loving Care for your Animals.” This was for a dog walking service. They have no website so I couldn’t clarify what the slogan actually meant, however, this is what immediately ran through my head, “My grandmother is going to come over and walk my dog? Will she be able to understand how to be buzzed into my complex? I have two flights of stairs, is that going to be an issue?”
Of course the second set of questions that popped into my head focused on marketing and their attempt to appeal to their customers. “Does that quote on your business card accurately showcase YOUR brand? Are YOU marketing YOUR business to ALL generations or are YOU excluding anyone? What is the market perception? Who exactly is YOUR customer base? “
These are such simple questions to be answered, however, your current marketing strategy may not be targeting your specified demographics. Each generation has unique expectations, experiences, lifestyles, values and demographics that influence their buying behaviors. At Brand X we specialize in knowing how to diversify your marketing to ensure that you are hitting your customer demographics. Please reach out to us to discuss your marketing initiatives and if you are hitting your target demographics.