Major Changes Are Upon Us

You’ve probably heard Whites aren’t the majority in 293 US counties. By 2050 we’ll see this nationwide.

Now a new study reveals 50.7% of US residents are under age 40. Millennials, Generation Z, and Generation Alpha have become the predominant marketplace forces.

Sorry Boomer.

These aren’t good or bad things: merely facts. We won’t debate societal reactions to these like expediting the Census, building the wall, or the Black Lives Matter movement.

What is worth discussing, though, is how people of different races, ages, and ethnic backgrounds all seek many of the same things (cars, toothpaste, etc.), but must be marketed to differently.

Your strategy might involve using targeted media (Essence for Black women, Univision for Hispanic audiences) or age-specific technology (BuzzFeed for Millennials, Twitch for Gen Z).

Using SnapChat to reach across generations? Remember to adjust your messaging by age group.

No, I didn’t forget. Generation Alpha’s the smallest generation ever, and its members haven’t yet hit puberty. So there’s not much buying power…yet.

However, in a few years the most racially diverse generation in our nation’s history will become consumers. And they’re being raised in non-traditional households, which influences their buying preferences and decisions.

These factors will all impact your company strategy, offerings, messaging, communications tools, and budgets.

Interestingly, these age groups have grown up overwhelmed with information and have good filters. You have a few seconds to convince them your ad, blog post, etc. is worth their time. If you do they’ll bring laser-like focus to your company, and readily share their results with their friends.

Regardless of what you sell, these trends are guaranteed to have a direct and immediate impact on your business. Remember that people buy from those they know, like, and trust. To be ready for the next wave of customers you must constantly be laying groundwork so that new audiences will appreciate who you are and how you make their lives better.

Finally, sell experiences, not products. These consumers aren't interested in a hard sell but will relate to stories from those matching their profile.

Long ago I learned that facts and figures won’t sell a company; you need to romance your customer, engage with them, and develop a relationship.

It’s challenging, to say the least…but it’s not impossible.

With that said, I wish you a week of profitable marketing.

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Learn to negotiate market changes at www.askmrmarketing.com.