Selling To Different Generations

Today's sales and marketing professionals are being challenged like never before to meet the needs of four generations of individuals in today's work force. Knowing your customer has taken on a greater meaning and requires an informed generational perspective to reach these target markets - Veteran, Baby Boomer, Gen-Xs and Gen-Ys - and to recognize what influences their buying decisions.

These changing dynamics require changing strategies, according to sales/marketing experts. In other words, the successful strategies used in the past may not work with today's decision makers.

Generations Colliding In The Workplace

"There are several different generations of workers, and we need to learn how to harness the needs and desires of these groups to achieve good sales results," explains Danita Bye, president, Sales Growth Specialists, Medina. "Companies that fail to do so will be frustrated by lackluster sales performance. If everyone were alike, it would make our lives and our relationships easier, but that simply isn't reality."

Debby Magnuson, certified life coach and program director, ReFirement Coaching, in the Twin Cities, echoes that sentiment. "These four generations colliding in the workplace is causing new problems and requiring new solutions. You have to understand the people in each group and how they live," she says.

Currently, the Boomers and Gen-Xs constitute more than 80 percent of the work force, according to Magnuson. There are increasing members of generations X and Y entering decision-making positions, according to a March 15, 2006, article on the website of EWF International, which creates peer advisory boards for women business owners and executives. "Most marketers already understand how to reach Boomers and Mediators, but very little research has been dedicated to understanding the corporate purchasing habits of Gen-X and Gen-Y," according to EWF.

Key Generational Characteristics

Following are the key characteristics of the four groups as they relate to selling, according to Magnuson:

• Veterans: Ages 61-84: Led the way toward social change and are now retiring. • Baby Boomers: Ages 42-60: Grew up with prosperity and are into status symbols. Have high expectations and want to be fulfilled in every aspect of their lives. • Gen-Xs: Ages 26-41: Are willing to live with less "stuff" to have the lifestyle they want. Their battle cry is "I work to live; I don't live to work." • Gen-Ys: Ages 6-25: Want to be respected, and technology is an expectation, not an extra. They are very media savvy and team oriented.

Tips For Selling To Each Generation

Magnuson offers the following selling tips by generation: • Veterans: Appeal to their interest in seeking new experiences. • Baby Boomers: Want to have personalized service. • Gen-Xs: They know they are being analyzed and sold to, so understand their lifestyle and how they will use a particular product/service. • Gen-Ys: Respond to their expectation for instant communication. They tend to shop in groups, so there is a need to understand who the decision maker is.