Nestled between the baby boomers and millennials lies Generation X. It’s a smaller generation than the ones that surround it, but that doesn’t make it any less relevant to marketers. Especially if they fall within your targeted demographic.
Ready for an update on marketing to Gen X? Here’s what you need to know in 2020.
First, let’s review the data. So, where does Gen X fall in terms of age? This generation was born between 1965 and 1980, meaning they’re between 39 and 55 years old.
As reported by the Pew Research Center, there are currently 65.2 million Gen Xers in the U.S. Like I said, they’re a bit smaller than the generations that surround them. Millennials and baby boomers stand at 72.1 million and 71.6 million, respectively. As a result, they’re often overlooked, even though their numbers aren’t drastically smaller.
Something old, something new. On a cultural level, Gen X tends to be overlooked because many believe they lack identity when compared to their generational cohorts. According to a study from MetLife (via The New York Times), just 41% of Gen Xers actually consider themselves part of their generation.
This is reflected in their media habits, which overlap between the old and the new. While Gen Xers still consume plenty of traditional media (magazines, newspapers, radio, and 165 hours of TV a month), according to Kasasa, they live and breathe digital media. Particularly Facebook, which they spend seven hours a week on.
Don’t underestimate their spending power. As Gen Xers enter their forties and fifties, they’re beginning to gain a significant amount of spending power compared to the other generations. According to Datassential (via QSR Magazine), Gen X generates 31% of all income in the U.S. despite the fact that they only makeup 25% of the population.
At the same time, when marketing to Gen X, it’s important to understand that they’re not just blind spenders. As I just mentioned, they spend a ton of time consuming every sort of media. Reviews, social media word-of-mouth, and overall value can have a big impact on their willingness to spend.
As brand loyal as can be. When it comes to Gen X, brands matter. According to eMarketer, Gen X has the highest brand loyalty of any generation. They’re always willing to shell out more for the brands they like and trust. If you have a loyalty program, you’re going to want to use that to your advantage. Not only because it’ll be more effective with Gen Xers, but because you need to pull out all the stops to make sure they prefer your brand over your competitors.
What’s new with the other generations in 2020?
We’re glad you asked. Today’s article is our latest on what the different generations are up to this year. Check them out at the links below!
Be sure to check back for more. Baby boomer marketing is up next.
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What marketing techniques have you employed to engage with Gen x? Sound off in the comments!