Don’t you forget about me: Why Gen X deserves your marketing attention.
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How can your brand effectively market to Gen X, a demographic known for high spending and loyalty? Suzy’s Phil Winkelman explores.
By: Phil Winkelman, VP Enterprise Customer Success
I’ve been in the insights world for the bulk of my career, and in all of those years, I’ve had countless discussions with the movers and shakers of industry about generational marketing. It started with tapping into the immense size and lucrative wallets of the Baby Boomers. Then the focus shifted to the long confusing journey to understand Millennials and why they were ruining all of our traditional marketing mainstays with their “disruption.” In the blink of an eye, the world began to focus and continues to set its sights on Gen Z. All of these generational shifts and changes are fascinating and can, and do, occupy both the dreams and nightmares of many marketers.
But in the swirl of all of these data points, whitepapers, and (yes) blog posts about generational marketing, I wondered, “What about Gen X?” As a member of this generation, I often felt like Lloyd Dobler in “Say Anything” desperately holding a boombox outside the window of the industry begging for someone to pay attention to me!
Sure, we’re not the easiest cohort to pin down. In fact, Gen X crafted a cynical and rebellious vibe that they don’t want to fit into any sort of traditional category. We bucked the trends. We said no to what was expected of us. We declared “damn the man!”
But despite Gen X’s resistance to being defined, it’s still worth taking a look at what makes us tick. After all, Gen X has the highest average annual expenditure compared to all other generations according to the US Bureau of Labor Statistics.
I’m not saying we should abandon our efforts towards the younger and transformative generations that followed, but creating a unique and cohesive marketing strategy for Gen X can be the bridge many established brands are searching for between tradition and the future of marketing.
The Mighty Influence of Generation X
Spending Power and Influence:
According to a report from the US Department of Labor, Gen Xers contribute to more than 31% of total U.S. income, despite making up only 25% of the population. This significant spending power (an estimated $2.4 trillion), stems from established careers. Not to mention, Gen X is currently in their peak earning years.
This lucrative position also makes them some of the biggest spenders, particularly in discretionary categories like travel, entertainment, clothing, and eating out. Their spending power extends to other generations as well, as they have a significant influence over Boomer parents and Millennial/Gen Z children as they act as caregivers, in some cases offering advice, and in others full financial support.
Products and services that recognize and address the pressures and needs of this "sandwich generation" can resonate deeply, offering solutions that simplify their lives and provide meaningful value.
Digital and Traditional Blend:
Gen Xers have a unique media consumption pattern that straddles both traditional and digital platforms. Despite being largely digital immigrants, over 75% are active on social media platforms with a preference for Facebook, YouTube, and LinkedIn.
They're adept at navigating the digital landscape not just for entertainment, but also for research and decision-making. It all adds up to a pragmatic audience primed for targeted email and social campaigns. They’re also key consumers of traditional live TV, radio, and print content. This dual presence underscores the importance of omnichannel marketing strategies to effectively reach and engage this demographic.
Values and Loyalty:
Generation X values authenticity, reliability, and clear communication from brands. Growing up in a transformative era of technology and shifting cultural values, they appreciate straightforward, no-nonsense marketing that speaks to their discerning nature. While they may not be the easiest to convince, once you get Gen X in your corner, this generation exhibits higher brand loyalty than Millennials and Gen Z, who are more likely to switch brands for a better deal or ones that align with their social values.
Brands that earn Gen Xers trust can benefit from their loyalty and advocacy, making them a key target for loyalty programs and value-based campaigns. Suzy research showed that Gen X, more than any other generation, is likely to purchase more than 10 products when shopping at a brand they like. However, their loyalty comes with high expectations for value and customer service
Crafting Gen X-Centric Campaigns
For brands, the key to unlocking Generation X's potential lies in recognizing their unique position and leveraging it through tailored strategies. This involves:
Omnichannel Presence:
Implement an omnichannel approach that combines digital platforms like email and social media with traditional advertising mediums. Generation X appreciates this blend, which mirrors their consumption habits of utilizing both online and brick-and-mortar locations for regular purchases.
Authentic Engagement:
Authenticity is key for engaging any group, but particularly with Gen X who are going to be less swayed by what you say and more by what you do. While Gen X doesn’t expect brands to communicate their values compared to younger generations, they are more likely to abandon a brand if those values don’t align with theirs. Therefore, develop content and campaigns that speak clearly to them. Gen Xers respond well to genuine brand stories, transparent product benefits, and straightforward communication.
Rewards and Recognition
Introduce rewards and loyalty programs that acknowledge their brand engagement and purchasing loyalty. Such initiatives not only incentivize repeat business but also deepen the emotional connection with the brand.
Support for Their Caregiver Role
Offer products, services, and content that alleviate the challenges of their caregiving responsibilities. Solutions that bring convenience, relief, and support to their complex lives can significantly boost brand affinity and loyalty among Gen Xers.
Last Words
While this “forgotten generation” is often overlooked in favor of targeting larger generational cohorts, Generation X's substantial influence and spending power make them a valuable demographic for brands. By uniquely understanding what makes them tick and crafting tailored marketing strategies, brands can tap into this generation's loyalty and purchasing power, driving growth and long-term success.
Want to learn more about Gen X? Reach out to book a demo with Suzy today to learn how we can help you engage this audience in your research for actionable insights.
