Through the generation segments marketers have discovered profound differences which when targeted correctly can benefit companies and not only. Millennials, Generation X, and baby boomers are the most widely discussed groups, all three have different approaches about customer engagement, motivation and attitude. Regarding customer loyalty, one thing is certain, that these differences among generations require different approach to brand loyalty and engagement.
Winning the brand loyalty of Generation X customers is very challenging. On the one hand this generation has great spending power but on the other hand, the members of these generation are much more skeptical and cautious. They want to make sure that their investment is in necessary, convenient and qualitative products. So, marketers need to put more effort to gain their trust. When focusing in this generation the successful efforts are worth it in the end. Generations Xers’ are willing to spend more for products and services that they find valuable.
The members of this generation have particular ways they view loyalty programs, so marketers should try to understand their way of thinking before launching a program. Let’s have a look on what they believe:
- They find loyalty programs beneficial, but mainly as a financial assistance. The majority of generation X consumers join loyalty programs in order to save money.
- Their secondary reason to participate in loyalty programs is for the rewards gained.
- Other thoughts for joining a loyalty program, are the exclusive benefits offered and to get to know about new products first.
This generation offers to marketers a very useful tool. Beyond traditional loyalty program benefits, this generation offers a number of possible opportunities for brands to connect through the digital world.
Generation X consumers are highly engaged across a number of digital and social channels, so, their communication with brands is evolving. This should be considered an opportunity for marketers to enhance digital engagement in order to build stronger customer relationships. There is a variety of ways this can be achieved, for example:
- visiting brand websites,
- making Facebook posts,
- tweeting,
- writing product reviews,
- taking online surveys, and
- opening emails.
There should be rewards for all of the above and the engagement of Generation X consumers is guaranteed. QIVOS (former CLOUDBIZ) has implemented numerous loyalty programs including the above tools to enhance engagement with Generation X and not only.
Since Generation X consumers are well educated, technologically savvy, and value customer rating, such digital engagement strategies can help facilitate this group’s journey down the path to purchase.
To conclude, to further promote customer engagement and generate loyalty among generation X brands should focus on:
1) Creating trust by building true customer relationships in order to create emotional connection,
2) Offering practical rewards that provide true value,
3) Ensuring that all marketing communications are relevant, targeted, and meaningful and
4) Playing with their values.
What Generation X wants from a loyalty program?
- Fast
- Value
- Variety
- Technical Literacy
- Practicality
