Managing Multi-Generational Customer IssuesCustomer Service Training Resource
July 9, 2013 — 1,693 views
The success of every marketing campaign lies in understanding the needs, expectations, and traits of the potential customer segment. As a marketer, once you understand the key touch-points of your target customers, you can handle your customers in a much better manner.
Many companies, today, are marketing their products and services to customers across different generations. Multigenerational marketing caters to the unique needs of the customers belonging to diverse age groups. These generations have unique demographics, experiences, expectations, lifestyles, and traits. These characteristics play a very significant role in determining the buying behavior of these multi generational consumers.
Needless to say, each segment requires a different approach to stimulate their buying behavior. You will be able to build stronger customer relationships and retain your customers for much longer. Here is a description of the three major generations of customer segments along with their respective traits, expectations, and preferences.
This customer segment comprises of people who were born between the years of 1946-1964.These people are in the age group of 49–67, as of 2013. The major traits of baby boomers are:
They value self-expression and their family ties. They believe in living in the present and living their life to the fullest. Baby boomers are career oriented and you might find them to be workaholics as well. Some of the baby boomers might be working while some might even have retired. You can safely gather that baby boomers have more of discretionary income as well as time. They are tech savvy and attracted towards wellness and health factors.
Baby boomers value quality. They look for value for their money. They are not price sensitive when it comes to the value and the quality of the products. They are no doubt an aging generation, but they do not want you to remind them of it. They are still health conscious and you must avoid addressing them as senior citizens.
You can easily market them high quality products that focus on health, well being, self-care, self-identity, and self-expression. They are easily attracted by information presented in the form of simple and raw facts and figures, which are easy to understand. Word of mouth communication also works well in their cases.
This customer group comprises of people born during 1965 to 1977. They belong to the age group of 37 to 48, as of 2013. The common traits of generation X are:
The generation X customer group is likely to comprise of self-employed professionals. They are not as traditional in their outlook as the baby boomers. They have a tendency to question the conventions. Generation X promotes multiculturalism and global thinking. They value family and freedom. Such people are very cautious about starting new relationships. They are focused on creating a balance between their family, their work, and their life.
The generation X customers have financial restraints and they look for value for money. They are motivated by discounts and other special offers. They also look for reassurance about their choices. Customer service needs to be strong, intimate, and reassuring in these cases. They make their choices based on a lot of information. You must cater to the cognitive needs of the generation X customer group.
This customer segment comprises of individuals born during 1978 to 1994. They belong to the age group of 19 to 35, as of 2013. The major traits of generation Y customers are:
- Strong sense of autonomy
- Socially aware
- Highly tech savvy
Clearly, this is the teen segment, which is notorious and likes to spend a lot. They are not futuristic in their purchases and live for the moment. For marketing to this segment, you will need to focus all your marketing efforts for connecting with this dynamic segment. Online, offline, along with word of mouth communication can be used for this segment. Customer service needs to be prompt, active, and up to date for this segment.
Marketers, marketing managers, and customer service representatives need to understand the specific traits and needs of each generation. This will channelize your marketing efforts and ease your work as well.