The goal of many marketers today is clear: Do anything and everything to attract the attention of Millennials. After all, there are more than 83.1 million Millennials in the US, more than a quarter of its population.
Moreover, Millennials have a collective $200 billion to spend in 2016. Tapping into the largest generation to date and creating a loyal army to evangelize your brand should always be a primary marketing objective, right?
Not so fast!
Though focusing on Millennials is important, many businesses have done so at the expense of Generation X—people with birthdates between the mid-1960s and the early 1980s. Sandwiched between the well-established Baby Boomers and the popular Millennials, Generation X-ers are like forgotten middle children.
But brands willing to invest in this key customer base will discover that Generation X-ers are decision-makers at work and home.
What makes Gen X so valuable?
Though this key demographic doesn't have as many members as the Millennial generation does, Gen X has more spending power than Millennials.
Generation X-ers make up just a quarter of adults, but they account for 29% of estimated net-worth dollars in the US and hold 31% of total income dollars, according to a 2014 Shullman Research Center report.
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