Media agency Wavemaker has found that 87% of Gen X feel underrepresented across TV advertising, despite being on track to become the wealthiest generation of all time, as an estimated $70 trillion is passed down to them by Baby Boomers.
The agency’s new report, ‘Finding the Gen X Factor‘, looked specifically into 45-60 years olds, who Wavemaker claims are largely ignored by brands and the advertising industry as a whole, especially across social media – despite 92% of them using it every day, with 50% being on TikTok.
Aiming to understand what a successful Gen X social media strategy looks like, Wavemaker found that the group is responsible for almost a third (27%) of global spending, with rapidly rising purchasing power.
Despite only accounting for 28% of TikTok’s user base, Gen X is the fastest growing demographic on the platform – with a paltry 5% of brand spend on influencer campaigns aimed at them.
“Gen X presents a huge opportunity for brands – they’re a highly engaged, loyal and wealthy consumers – and shouldn’t be overlooked by advertisers,” Wavemaker senior insight director, Zoe Bowen-Jones said.
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“Our research indicates that Gen X are more brand loyal, have longer attention spans and are more engaged on social media, ultimately proving to be more valuable consumers than their younger counterparts. When it comes to engaging Gen X audiences, brands need to think long-term, long-form and community-based content to gain their trust, loyalty and ensure they feel represented.”
Egregiously underrepresented across TV advertising, Gen X only appears in 4% of ads, despite making up 31% of the global population. In contrast, 76% of TV ads include someone aged 19-49. Unsurprisingly, only 13% of Gen X said that they felt represented in advertising.
The value, however, was still higher than the 9% among Baby Boomers.
Interestingly, influencer campaigns were found to be far less successful among Gen X than younger generations, registering 30% lower retention rates, 20% fewer interactions with the content and 47% lower impact on brand opinion.
Wavemaker global chief strategy officer Stuart Bowden added: “This research lays bare that GenX have their own distinct needs and wants and behaviours on social platforms.
“This report shows us not only the differences that the ‘wealthiest generation the world has ever known’ have in social media usage but much more importantly how we can recognise and respond. It’s a great reminder to give our attention to the places and the people that can best help our clients grow.”
