5 Generations sharing at the time
The first matter business owners, managers, and organization leaders should understand that five generations are sharing at the time.
Later, analyze and clarify what the organization is doing to fit all of them. But most crucial, what is your business doing for the next bigger market that is around the corner? I am talking about generation Alpha.
Every generation is shaped by a different socio-cultural environment and life experience. Continue reading and learn a bit about the future.
1946 – 1964. They are travelers who love face-to-face trade. They feel more confident and safe when their booking vacations are advised by one travel agent. Nevertheless, they usually are influenced by next-generation X and Y. We have to take a look back and see all the large Baby Boomers families, most of them with three or more children.
In other words, to continue being successful in this segment, strategies should match both generations X and Y.
Culturally influenced by television and video music. This traveler is more digital than their parents but still inspired by the traditional media, such as TV, magazines, newspapers. A very interesting market by their acquisitive power. In their early years, they work hard to face the crisis at the moment. They were the first in contact with digital tools in the workplace. Thus they were very creative and autonomous. Many of them founded their own company.
Even so, this generation required presential support for taking vacation decisions. And as well as the Baby Boomers, they are influenced by youngers and peers.
This generation was born between 1965 and 1980.
It had been the most talked-about cohort in the last few years. Widely known as Millennials. They should be at the focus of all travel marketing strategies. Thus, here is where most of the travel industry companies are facing difficulties.
They must use high-tech to attend to the demand of this cohort. As the first generation associated with the use of social media, a different game started. But all travel companies should pay attention to social and economic status and their variations on the use of their media following different behaviors.
Here is also where big data and AI (Artificial Intelligence) play a key role. Assigned from 1981 to 1996 this generation is the last one who enjoys traditions of older generations. There is a lot to talk about these peers.
Take note of these keywords to enhance your leads, conversions, and finally, your revenue: Cloud services, booking software, dynamic rates, omnichannel digital strategies, B2B software tools, big data, AI, CRM, Agile culture, A/B tests, the most important, desitions must be driven by data analysis.
Z Digital Natives
If you continue processing about the Millennials as your company’s future, you are late. The future is here and is called Generation Z, the Digital Natives.
Many of Generation Z witnessed the financial struggles of their parents and older siblings, and therefore are more financially conscious than generation Y.
The travel industry should be an innovator to reach this generation. This implies that in the coming years we will see a radical change in the way of traveling, sales will be driven by tech practically at 100%. All tech mentioned will be not enough and new tools will show up. Are ready to move there? To talk about AR Augmented Reality and VR Virtual Reality?
Just take that in mind if you see your company operating with these tools in the coming years.
More educated, more tech influenced, with better economic behaviors. This generation scares.
Kids from 2010 to 2025 they learning style is more hands-on and experimental. They use tech from the first year and some of them have their own Youtube channel only with months of life. Parents are doing a great job educating them with last tech tools and devices. Thus, this represents a challenge to the travel industry. Probably the Alpha Generation will call Alexa as their travel agent. Are you using Alexa Marketing Tools to your actual customers?
There is a path to discover to keep the business rolling. Every company is different and there are millions of travelers with different needs and behaviors. The key consists in keep working, keep focused, and get involved with the industry trends. But also, the success of the travel companies is based on their analysis, interpretations, and conclusions.