There is no one-size-fits-all, and that’s especially true in marketing where personalization is increasingly more crucial in delivering value. In order to deliver personalization, you need to understand your customer, from who they are to what they value. One attribute worth paying attention to when it comes to building relationships that matter is which generation the customer belongs to.

When speaking about generations, it’s important to focus on more than just age. These are customers in different stages of their lives, and with widely different past experiences that inform their present-day decisions. So, when communicating with them to establish an authentic relationship, it’s important to keep these realities in mind.

According to data contained in the 2023 U.S. Consumer Trends Report (CTI), different generations have far different expectations and preferences when it comes to communications channels, messaging, and other factors that impact not only purchasing but brand loyalty as a whole.

Marketing Technology News: Martech Interview With Mike Nash, President, KS&R

Here are some of the key differentiators among generations:

1. Email vs. Social

Digital storefronts are everywhere these days, putting one-click access to purchasing goods and services at your consumers’ fingertips, from email and apps to social media and more.

On the whole, email marketing remains the most effective channel for driving sales, with nearly half (47%) of consumers purchasing a product after receiving an email from a brand in the past 12 months.

But closer examination shows a more nuanced story between generations. According to the CTI report, Boomers and Gen X are far more likely to make a purchase via email, whereas Millennials and Gen Z purchase more over social.

When asked what format they’ve made a purchase from in the last 12 months, the top responses by generation are:

• Boomers: Email (62%)
• Gen X: Email (64%)
• Millennials: Social Media Post (67%)
• Gen Z: Social Media Post (58%)

(Interesting note: Organic posts and advertisements in social media are the biggest drivers for Millennials and Gen Z (67% and 63% respectively).

2. Price vs. Convenience

What motivates consumers to make purchases also differs by generation, but getting the best price or value is the top concern across all. However, there’s a good deal of variance when it comes to determining value: price tends to be most important to Gen Z and Boomers, while Millennials skew toward putting value in convenience and style.

When asked to self-identify what kind of shopper they are, the top responses showed notable differences between price vs. convenience:

• Boomers: Price (51%) / Convenience (15%)
• Gen X: Price (42%) / Convenience (20%)
• Millennials: Price (32%) / Convenience (24%)
• Gen Z: Price (44%) / Convenience (12%)

3. Loyalty vs. Indifference

Brand loyalty is on the rise overall, with 59% of consumers prepared to pay more to purchase from their preferred brands. However, that loyalty doesn’t come without a strategy, as evident by data indicating that a third of consumers have switched away from a favored brand in the last 12 months, citing a poor loyalty program, the online customer experience, and data privacy issues as core problems.

That’s certainly not a constant for all generations. Millennials are most likely to stray away from loyal brands, but are also most likely to be won back. Boomers meanwhile are the least likely to have strayed, but once gone are less likely to return.

Here’s the percentage of respondents by generation that reported fading brand loyalty in the last year:

• Boomers: 20%
• Gen X: 28%
• Millennials: 43%
• Gen Z: 37%

That’s not all. Other interesting findings worth noting, include:

• Relevance: Gen Z (47%) and Boomers (65%) appreciate brands that communicate only when necessary, while Millennials like a VIP, personalized experience. Meanwhile, 68% of Boomers are frustrated by irrelevant or non-personalized content or offers – that’s 20 points higher than the other age groups.
• Mobile: A majority of all age groups, except Boomers (45%), used their mobile phones in stores to do research and purchase decisions. Across the board, most have also made a purchase through mobile apps.
• Data: Most consumers prefer personalized content and offers from trusted brands and will readily share personal data in return, known as zero-party data. However, consumers prefer that brands only use data explicitly shared directly with the brand. A sizable 61% of consumers feel cookie-fueled ads are a creepy marketing tactic.

Understanding customers in order to deliver a personalized experience is at the very heart of relationship marketing. The more you know, the less you have to guess. Understanding customers at the most granular level is critical to knowing what to say, when to say it, and where to say it. Those factors are going to change based on multiple factors, including (as we’ve outlined above) their age and generation.

Understanding customers’ wants and needs requires gathering insights from multiple sources. Surveys like the Marigold Consumer Trends Index are a good place to start, but only if they inform subsequent efforts to deliver offers and content relevant to your customer and your brand. Collecting zero-party data directly from your customers and target audience is a critical next step, as only the individuals themselves can tell you exactly what they want and expect from you.

Ultimately it’s about truly understanding your customer, informed by their own zero-party data, to deliver personalized offers or campaigns that deepen your relationship and drive business results.

Marketing Technology News: 6 Ways to Elevate E-Commerce Content and Experience Management to Optimize Your Digital Presence