In the not so distant past, it was relatively easy to convert a lead into a sale. Enter technology, which has become a game changer on how we all think and how we make purchase decisions.
Just look at those companies that have been very successful with using technology to start and grow their businesses. Think about Amazon.com and eBay. These companies are household names and yet they are still relatively young compared to more established brands such as Proctor & Gamble and Kellogg’s. Since technology has brought us closer together, it is only natural that each generation tends to develop their distinct core beliefs. These core beliefs are sometimes a roadmap to understand purchase behavior. Below are some examples.
Millennials
Millennials have always been the generation that wants instantaneous results/action. Socially, they engage daily and expect companies to be very transparent and authentic. They are also very socially conscientious. They expect companies to be socially responsible, and, in many cases, Millennials expect companies to take on their personal causes. To Millennials, these actions make the company a better corporate citizen. Of course, they will also hold companies accountable for their activities and till take to social platforms to broadcast, unabashedly, their thoughts.
It’s clear that technology has made it easier to gather and decipher information quickly. These philosophies transcend ethnic groups. Many Millennials embrace other cultures’ heritages, art, and food. Millennials are also very experimental and want relevant conversations with good value—quality at a good price!
Baby Boomers
This is an active group who intends to finish out their life doing it their way! You won’t find them quietly sitting on the porch watching life pass them by. They are more proactive in managing their financial health as well as their personal healthcare needs. Some Boomers are experiencing a boomerang effect with their children rejoining the home. This is due to economic pressures, lost job, illness, etc. As such, many Boomers are finding themselves delaying retiring or going back to work. This means they are back in the market for all those products that they thought were no longer of consideration; such as diapers, toys, school supplies, and groceries. The key to this group is to remember this is not an “old” thinking generation. So, don’t count this group out as not marketing worthy. Boomers want technology to be a tool that is easy to use and products designed with them in mind.
Mothers
This is one group that transcends generational lines. But they are such an important demographic to target for many marketing efforts. It’s no secret that “moms rule!” As such, they lead purchasing decisions and are typically the one who approves the short list for those products being considered. They have been squeezed by the economy. Moms are very focused on purchase decisions and their budget. Luxury items such as: eating out and entertainment are carefully considered. However, she will not spend for luxury items at the expense of forgoing necessities not being met. Moms want luxury items to be within reach and connect with them through a variety of platforms given that their schedules can be hectic!
By tapping into these varies groups’ core beliefs, it provides insights on how best to communicate with them. Consumers are very savvy and they can find out an “untruthful claim.” Make sure your business is authentic and expresses a value (and quality) as to why they should purchase from you rather than your competitor. These facts can help you maintain relevancy and being truly authentic to the needs of the consumer.
Adele Lassere is a marketing/advertising consultant with 20+ years experience, freelance writer and author of “Elements of Buying” (self-help advertising guide) available at Amazon.com. Adele was listed as Black Enterprise’s 2011 Top Execs in Marketing & Advertising and Black Enterprise’s 2013 Top Women Executives in Advertising & Marketing. Contact: [email protected]
