Changing Demographics – The Age Factor
Success depends on how well you know your customer
Understanding what your customers want begins with understand their demographics – the common characteristics that influence their beliefs, biases and behaviors, your customers’ age is one of the most important demographics to know (and the easiest to judge from a glance)
Learning what motivates members of each of the generations your homebuilders and homebuyers grew up in can help make your selling more profitable and productive.
MEMBERS OF EACH OF THE FOUR GENERATIONS WANT TO BE APPROACHED, PITCHED TO AND ULTIMATELY SOLD ON YOUR PRODUCTS AND SERVICES IN VERY DIFFERENT WAYS.
Talking ‘bout my generation
Your customers fit into four generations, with unique wants,
needs and decision-making styles:
Matures…………………………Born 1909 – 1945
Baby Boomers…………………..Born 1946 – 1964
X Generation X……………………Born 1965 – 1978
Y Generation Y…………………….Born 1979 – 1988
You don’t look your age
Knowing which generation customers belong to isn’t as easy as knowing their birthdays. Also, you can’t always make that judgment based on how old someone looks.
The key is spending time getting to know your customer and figuring out which generation the customer most strongly identifies with.
The more time you spend getting to know your customer the better. Click on the links above for information on the different age groups and what you can expect from each.
