We’re here again to talk about another insurance marketing topic highlighting our previous webinar series, “Defining Your Target, Using Ads, Reaching Different Generations.” For this topic, we decipher the differences between multiple generations and how they receive information, how to sell to each generation, and the use of digital advertisements in marketing. If you have not had a chance to watch the previous 3 webinars from this series, you can access those here.
If you’re wondering why you have to understand generations in order to more effectively market and sell here’s why. They are different in many ways. And the more targeted your communication, the better your results. So below, we’ve shared major characteristics that define the generations and how to reach them more effectively.
The 3 Marketing Generations Today
1. Baby Boomers
Baby Boomers are the oldest of the three generations we are trying to target in today’s market. They are ages 51 to 69 and are more tech savvy then most people would think of them. For example, research shows that 96% use search engines, 95% use email, and 92% shop online. This shows us that Baby Boomers are very reachable online and we can target them through certain focused messaging on the correct platforms, particularly Facebook, as they are very active on this social media channel. When it comes to buying, Baby Boomers tend to watch videos and reviews to help them make decisions. These characteristics and preferences show us the ways that will be the most beneficial when marketing to their generation.
How to Market to Baby Boomers:
- Create campaigns utilizing their preferences.
- Speak to their concerns and issues.
- Don’t sell, build trust.
- Offer useful quality content.
- Use CTA’s such as whitepapers & eBooks.
- Avoid trends.
- Be genuine.
- Use facebook, they are actively there.
- Steer clear from instagram and snapchat.
- Use timeline (storytelling) style images and video.
2. Generation X
The following generation down the line is Generation X. These are people ages 36 to 50. Our Gen Xers are tech savvy but have more traditional values than millenials. They tend to be culture conscience and plugged into social media such as Facebook, Twitter, and Linkedin. Typically, most of Generation X prefers using their laptops, desktops, and TV as their mediums for how they engage in content, but they are mobile-friendly. If you are trying to gain the attention of Gen X, you may first try to win over their friends and family because they are influenced by their recommendations.
How to Market to Gen Xers:
- Email marketing.
- Use visual based storytelling.
- Pinterest/Youtube for Social Media Channels.
- Search marketing (PPC).
- Use mobile.
- Build brand loyalty.
- Be cost conscious.
Millenials are the youngest demographic we try to market to, as they are from ages 15 to 35. We classify Millenials as the digital doers because they are all about mobile devices across many aspects, from social media to online shopping and booking- their world is mobile. They tend to value social issues over economics and buy based on reviews or from the influence of bloggers. Millenials care about experiences, but they tend to end up as an idea instead of their reality. If you are eagerly trying to target Millenials- be careful, as they don’t like being pushed! They are true to what they know and act as brand loyalists to companies they love.
How to Market to Millenials:
- Social media channels.
- Use search (PPC and SEO presence).
- Use integrated campaigns across multiple channels.
- Customer reviews are key.
- Focus on innovation.
- Use reward and loyalty programs.
The first digital display ad was released in 1994, and the use of them has grown exponentially since. Digital advertisements can be used for a variety of targeting to get your brand noticed and found through searches such as:
- ROS- run of site
- Demo targeting
- IP targeting
- Captive audience targeting
- Topic targeting
- Contextual (keyword based)
- Geo-fencing (mobile, app-based)
If you are going to run social ads on your social channels, we recommend using Facebook above any of the others. For paid search ads (PPC), you should use Ad words, Bing Ads, or Yahoo Search Marketing (YSM) for the best results for your money. If you are more inclined to use traditional advertisements versus digital, TV or print ads can be an option for you. Although some find them to be disruptive, many consumers are still in that space and familiar with these kinds of ads.
Our Recommendations to You
We recommend using trusted outlets with the research to back them in order to reach your target audience. This might be direct mail for some. In other aspects, geo-targeting at an office park might be your best option to target them. Another example would be to run an ad on social media channels or well-known news sources during open enrollment period.
We hope you have learned valuable information from this overview of this topic and we hope we’ve spurred you to do some research and hone your communication as acutely as possible.
We encourage you to access the full presentation here to get the interactive approach as well. All six of the presentations in our series are available for FREE to download at your convenience. If you have any questions regarding marketing in today’s industry, feel free to reach out to us.Your success is always our top priority!