The Effectiveness of Social Media for Generating Customers
This week, I researched statistics of the effectiveness of social media. I tried hard to find statistics that show the social media is a waste of time. But, to my surprise, I was unable to find any that supported my claim that social media is like a black hole that gets us no where.
I guess the real question to ask yourself is who are you marketing to? Each generation responds to marketing efforts differently. Therefore, we might serve you better if we take each generation, what you provide and best marketing channel for your target market and focus on a different segment each week.
Type of Products or Services you Provide
Nearly 20% of Americans 65 and older are employed. In total, there are around 11 million Americans 65 or older who are still working today. This is important information if you are a company that provides business to business (B2B) products or services. If you provide products or services to consumers (B2C), this statistic is less important to you.
Marketing to Baby Boomers (1945-1965)
Boomers are very loyal to brands. Once they like a brand, it will take alot for them to switch. They appreciate up-sells such as an offer to get an extra 100 GB of storage for an extra $10 month. They love the rewards programs that give them a free gift once they spend enough to build up their rewards. In general, boomers aren’t impressed with discounts. They feel they earned the right to splurge once they retire.
Marketing channels
Traditional marketing channels such as newspaper, TV or radio works for this generation whether they are still working or not. Again, it depends on what you provide as a business.
Facebook is a good social media choice for those who sell to consumers especially when you use targeted ads. However, for B2B marketers, LinkedIn would be the better social media platform if you want to reach baby boomers who are buyers or run their own business or practice.
Baby boomers are watching video based apps and the time they spend on their phones has increased in ten years from 37 minutes in 2013 to 2 and a half hours in 2023. Learn more about this research.
Summary of Successful Marketing to Baby Boomers
- Appeal to the brand loyalty
- Offer up-sells and Rewards programs
- Traditional marketing like newspaper, radio or TV
- Facebook for B2C businesses
- Linked in for B2B businesses
- Video based apps