Lessons learned

Lessons learned

 With help of this thorough analysis of the different generations a better insight into the values, habits and motivations are given. The Generation Bust value their work-life balance and further development in their professional and private life highly. Millennials are striving for open opportunities and are willing to think outside the box to pursue them. The digital natives want a fulfilling job with a good working climate that helps them with their goal of self-actualization.

Generation X, Y, Z overviewe

Purchase Behavior

The purchase behavior of the different generations varies a lot, as generation X is a shopping hybrid, shopping online and in-store, but generation Y and, especially, generation Z are focusing on online purchases. Generation Y informs itself very well before a purchase and value the opinion of their friends and family. They are additionally very communicative on diverse social media platforms about the experiences they had with different products and services. The digital natives are looking before purchases online for inspiration and if they buy in-store they receive real-time feedback from their friends via different platforms, such as WhatsApp. Reviews, ratings and rankings are for generation Y and generation Z very important, as they value the opinion of their peers more than the ones of marketers. To target the digital natives social media influencing is a good solution, as long as the influencer fits the brand’s values and has a qualitative fanbase.

Media Usage

The different generations vary a lot in the usage of media channels and how often and long they use it per day. Generation X are still spending the most time watching TV, followed by time on the desktop and then the mobile phone. Millennials are heavily using desktops, then TV and again last mobile. Digital natives use their mobile phones the most, followed by desktop usage and then TVs. This is important to know as this helps marketers to reach their target market more efficiently, as they now know where their audience spends the most time.

Generation X, Y, Z overviewe

Preferred Advertising Formats

Very interesting were the findings regarding the different formats of advertising and how positive they are perceived by the different generations. For the traditional ad formats outdoor, cinema, newspapers and magazines were the favorites among the generations. The traditional ad formats were votes as the most positive in comparison to the other formats. Online formats were the most popular among the Millennials with mobile, desktop videos and online search. Digital natives were the most open towards video advertising formats, preferring mobile reward videos and skippable pre-rolls. They were also very positive regarding branded content, especially towards branded events, native articles and brand information.

With these insights the marketers have a better overview over their target audience, what they value, where they spend their time online and which advertising formats they prefer. This helps companies better target their audience to ensure an efficient and effective use of marketing resources to support company’s success.

Want to read more about Generation X, Y, and Z?

Whenever the birthdate is between 1965 and 1979, the person is considered to be part of the generation X. Even though this generation only makes out one fourth of the U.S. population, their purchasing power already represents 31% of the total U.S. income.

Generation Y,  also known as Millennials, are born between 1980 and 1995. In the U.S., they are already responsible for 1.3 trillion dollars of yearly spending, which is equal to 20% of the nation’s total.

Generation Z are born after 1995 and they are considered the future of global economy. By 2020 this generation will be the largest group of consumers worldwide.

In order to target the audience better it is crucial to know where the target audience spends time (online). Another important factor is to be informed about which format of advertising they prefer in order to increase the efficiency even more. .

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