Thursday, March 20, 2014

Techniques for Selling to Gen Xers

When it comes to targeting prospective clients, the industry hasn't quite made the shift from a Baby Boomer-centric approach to selling to Generation X (individuals born between 1965 and 1980). As much recent data and reports have suggested, this younger generation of investors is now actively seeking financial guidance. Gen Xers are looking for dedicated financial professionals to provide guidance for the process of retirement strategizing.

These factors should be considered when selling to this target market.
Trust is a Must.
Gen Xers tend to judge others based on their individual competence, so communication and a connection with each client is helpful.
Value Sells.
They want to know how to make the most of their hard work and have a strategy in place that protects their family for the future.
Focus on Quantity Time.
Ease any concerns for the future to help them free up their time to enjoy the “now” with their loved ones.
Spreading the Word.
This generation tends to rely heavily on the internet, online reviews, and social media when it comes to making decisions.
Target Both Genders.
Make sure to address both genders equally through ad and marketing campaigns.
Show Concrete Benefits.
This generation is practical and wants to know the benefits, especially via examples and illustrations.
Talk Goals.
Gen X clients desire pragmatic goals. They want to get it done and move on.
Avoid the Hype.
This age group doesn’t buy into the hype. Marketing should be creative yet extremely straightforward.
No Hard Selling.
Gen Xers want to know about who you are, what you stand for and the quality of the product being offered before making a decision.
Promote Affordability.
Gen Xers are attracted to affordability and quality. They’ll normally lean toward trends that won’t be too expensive.

Gen Xers may not be as familiar with retirement products, but are willing to learn. Share your knowledge in a way that relates to this generation.