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One Size Does NOT Fit All

You’ve heard the stereotypes so lets make sure we’re all talking about the same thing:

  • Baby Boomers: born between 1945-1960 

  • Generation X: born between 1961-1980

  • Millennials: born between 1981-1995 

  • Generation Z: born after 1995

Now that we have that straightened out, let’s explore the results of the survey, A Marketer’s Guide to Reaching Each Consumer Generation, by Yes Lifecycle Marketing. The results may even influence your loyalty programme.

 

Generation Z = quality

 

Generation Z = quality

According to the survey, quality matters most to Generation Z

  • 57% indicated quality as a brand loyalty driver

  • 50% said their last purchase decision was made on quality

  • 28% are self-described “quality-first” shoppers

 

MILLENNIAL'S = loyalty

 

Millennials = loyalty

The same 1,000 customer survey indicates Millennial's are very engaged with loyalty and rewards programmes.

  • 22% indicated rewards programs as a brand loyalty driver, more than any other generation surveyed

  • 15% said rewards were a purchase-driver in their most recent purchase

  • 34% consider themselves price-savvy, while another 34% consider themselves quality-first

Millennial's also appear to be the least sensitive to negative experiences:

  • Only 74% would switch brands after negative customer service experience - the lowest of any generation 

  • 58% stating they would stay with a brand no matter what

 

Generation X = price above all else 

 

Generation X = price above all else 

Unlike Millennials and Gen Z,  Generation X are typically more price conscious:

  • 30% indicated price as a brand loyalty driver

  • 85% said discounts influenced their most recent purchase

  • 44% consider themselves price-savvy consumers

 

Baby Boomers = convenience 

 

Baby Boomers = convenience 

Boomers are one of the more convenience-driven demographics:

  • 30% indicated convenience as a brand loyalty driver, the highest of any other generation in the survey

  • 36% said convenience influenced their most recent purchase

  • 16% consider themselves quality-first shoppers, the lowest of any generation in the survey

Unlike Millennials,  Baby Boomers are more sensitive to negative customer experiences:

  • 54% would not return to a brand due to lack of appreciation from sales staff

  • 50% would not return to a brand that was messy or disorganised

The above statistics and findings prove that there is no one-size-fits-all solution in your customer loyalty programme and that marketing segmentation is key.  

RELATED:  The 'P' Word

In a world cluttered with messages, consumers expect a more personalised brand experience. And, while brands might believe they are delivering a superior experience, the consumer perception says otherwise.

As loyalty programmes move from a novelty to a given and consumers attention becomes increasingly limited, brands must rethink their strategies to be more personalised to their target demographic. 

Are you looking to create a seamless experience for your customers? Reach out to the ENTERTAINER business today. 

 

INFORMATION SOURCE: A Marketer’s Guide to Reaching Each Consumer Generation, Yes Lifecycle Marketing

 

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