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By Craig Foster, Simplicity Lone Beacon’s Director of Digital Media.
Generation X (Gen X) to many people is the forgotten generation that falls between the Baby Boomers and Millennials. But this is a generation that is now entering the prime years for retirement preparation. Generation X covers people born between 1965 to 1980, with 55% over the age of 45. Generation X in 2022 made up 19.3% of all U.S. Residents with just over 65 million individuals. According to a recent Forbes article: “Most Gen Xers are in their prime spending years, second only to baby boomers in terms of buying power, with purchasing influence over their own Gen Z households as well as their boomer parents.”
According to a GWI Report, the profile of generation X shows that 33%* are in the higher income bracket, 63%* have full-time jobs, and only 4% have retired already. Generation X will be the next generation of clients for financial advisories and it’s crucial to start uncovering ways to market to them, getting them into your prospect pipeline.
When it comes to where to find Generation X online, the key places to look are YouTube, Facebook, WhatsApp, and Instagram. One place you wouldn’t think to find Gen Xers at, but have been a growing user of over the years, is TikTok. You will also see that Gen X tends to be heavy mobile device users, meaning we need to make sure our online presence is mobile-friendly. Gen X also heavily uses search engines to find information on products and services.
In the Forbes report, it mentions how Gen X tends to be “oriented toward value, information, and authenticity.” When we create ads and look at website design, we must take these preference into account to be able to connect with this generation. In other words, we need to make sure the advertising strategy addresses the issues they care about, which are distinct from other previous generations. A key introductory topic that can be used to connect with Gen X now is on how Gen Xers can help aging parents with healthcare, pay for their kid’s college, or the rising costs of everyday goods they need to live while still optimizing their retirement savings.
Simplicity Lone Beacon can help your advisory connect to this audience and generate leads through many of our digital programs from quality websites to digital ad campaigns, email marketing, and more. Connect with us to see how you can get a head start on capturing Gen X clients.
About the Author: Craig comes to us after 7 years at an agency and working independently in digital marketing, focusing on digital campaign creation and strategy. He did most of his work solving data problems and coming up with data-driven solutions and strategies. Craig grew up in the Boston area and graduated with a BS in Business Administration from Johnson and Wales University. When not working on digital marketing you might find him coaching a CrossFit class or spending time with his daughter.
