Even though Americans consider leisure travel almost a birthright, it is becoming increasingly difficult to market to them.
We are dealing with three very distinct generational target groups. And they, in turn, encompass a myriad of interests, time availability, levels of disposable income and dozens of other traits that factor into their decision making for their primary vacation.
Many of us have zeroed in on BOOMERS over the past years. Representing more than 78 million Americans, they are coveted because they have about $2 trillion in annual buying power and time for extended travel.
The GEN-X generation (born between 1965 and 1984) represents 69.5 million Americans. They are described as “technologically bilingual,” yet they are not yet totally responsive to internet marketing efforts.
Then we have the GEN-Y group who were born between 1985 to 2004. They are also known as the Millennials, Echo Boomers and the Net Generation. They are the largest generation at 100 million Americans and do most of their communications in the digital world. They spend on consumer goods at a rate of five times the Baby Boomers (in adjusted dollars). Granted, this includes children as well as adults, but children are very influential in choosing family vacation destinations.
However, even with the vast differences in age, buying influence, leisure travel interests and ever-growing communication venues, there is a strong commonality that is woven through them all.
Their expectations of products, services and companies are increasing and they have become much more deliberate in their purchase decisions. Existing brand equity is not the protective insulation it once was.
Regardless of where and how individuals receive communication from today’s marketing eco-system – every person has access to all information from all competitors. And because of that, Yankelovich, a leading researcher of consumer trends believes that one of the most important judgments of brand value today is by the continually current and relevant information those brands provide and how easily it can be accessed.
There are certain categories of products that are more at risk than others in this fast evolving communications environment. Anytime there is a significant investment of time and/or money, it becomes meaningful enough to engage in serious and deliberate consideration. We call those High Impact Considered Decisions.
And there is no doubt that the primary vacation falls within that definition.
Information that is clear, continually updated, and “niche-relevant” is a must for any travel destination marketer – whether that is on their website, their digital marketing efforts, their promotions or their management of social media. That creates time demands on the marketer that have never been faced before. And the ones who are willing to invest the necessary time and money into this effort are the ones who will grow their visitation.