How to Market to Generation X

March 14, 2017

 

 

 

Who are Generation X?

 

Known as the ‘forgotten generation’, Generation X has more spending power than any other generation. Saving money is a high priority, and what are they saving for?  Priorities include financial freedom, saving for their children’s education, buying a home, and building high value estate to leave to their heirs. 

 

So, if your real estate marketing plan does not include targeting this key demographic, you may want to think again.

 

 

Insight into marketing to Generation X (ages 33-47)

  • Even though they account for only 25 % of the population, they have high spending power. Right now, they’re earning more money than any other generation.

 

  • They are willing to spend more money than any other generation, and as they age & their buying power increases, their spending power will increase.

 

  • According to American Express, Gen-Xers claim “29 percent of estimated net worth dollars and 31 percent of total income dollars.”

 

  • Most tend to be financially stable and have a penchant for saving. Many retaining traditional in the way they respond to advertising and marketing.

 

  • Among them, 43.3 million use social media, 38.2 million are on Facebook, and 37.3 million have smartphones.

 

  • Fiercely independent, many of those in Generation X as kids were children of divorce who came home from school to empty houses.  These experiences have built them into independent, family-oriented and resourceful adults.

 

Gen X has the highest spending power of all living generations, which is even more impressive when you consider its size: it makes up only 25 percent of the population but claims 31 percent of  total income dollars. 

 

 

Best Way to reach Generation X

  • Appeal to their sense of family and sentimentality.  Selling lifestyles that promote a sense of lasting value, once in a lifetime opportunities, or real estate investments that may be handed down to their heirs.

 

  • With a strong desire to take care of themselves & their environment, healthy living opportunities, green buildings and energy efficiency are mass appeal.

 

  • Appeal to their desire of safety and security.  Crime rates are a major concern for this generation.  reassure security in their real estate investments.

 

  • Digital video.  Video holds appeal across generations, but Generation X seems particularly attached to it with over 75 percent downloading or streaming video online at least once per month.

 

  • Facebook. It’s safe to say that this generation is firmly in the camp of active Facebook users.

 

  • Twitter. 8.5 million use it regularly.  Don’t give up on finding these people on Twitter.

 

  • Blogging. Content of value will help you reap rewards when it comes to this demographic. Keep a laser focus on their pain points and aspirations, and deliver with your content.

 

  • Email.  Sending email communications is considered the gold standard for reaching this demographic.

 

  • Educational content. Gen X is recognized as an educated generation with higher high school graduation rates than previous generations. Over 10 percent of this generation are actively pursuing continuing education.

 

 

Questions or comments?  Email us at: lab@realtormarketinglab.com

 

 

 

 

 

 

 

 

 

 

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