The Value of Marketing to Baby Boomers
Does the title of this blog sound like a joke that falls flat? It’s no joke. Baby Boomers are some of the most important consumers of the different age groups, according to an August 2012 Nielsen study. The proof? Some $230 billion dollars in packaged good sales came straight out of Boomers’ pockets. The Huffington Post says this group “will control 70 percent of America’s income [in five years] and stand to inherit $15 trillion in the next 20 years.” If that’s not enough to grab your attention, here are some more reasons why missing out on this 75-million-plus group is not a laughing matter.
Who’s Active on Social Media? Your Mom.
Baby Boomers use all forms of social media. While many use Facebook as their go-to platform, they mingle with other sites, too. For example, many Boomers are looking for further professional development, so they use LinkedIn profiles to see and be seen. Twitter is the second most popular site for Boomers. They make up about a third of the network’s total user group. Their presence on Facebook and Twitter means that if you have a product that will spark their interest, your biggest buyers may be just a few keyboard strokes away.
Who Wants to Keep Learning? Your Mom.
Boomer-marketing expert Brent Green says that the members of this group share a sense of self-empowerment. They came of age at a time when improving their lives through hard work was a cherished value. This is great news for companies that offer professional development services. If you’re one of those companies, you can tap into your customers’ drive and hard work ethic to help them achieve their goals. You’ll also win loyal fans in the process.
Who Scoffs at a Boring Retirement? Your Mom.
What are Boomers’ interests, exactly? They’re not crocheted doilies or dominoes; now that their kids have cleared out of the house, empty-nesters are interested in going out and seeing the world. Green says this is because “Boomers experienced a go-for-it period of time where they would run out to the world and explore.”
Who Wants to Be a Kid? Your Mom.
Baby Boomers also want to feel more connected with their grandkids. Instead of being charged with the caretaker role, they want to be big kids all the little ones love to play with. So companies that focus on health and wellness are in a great position to connect with this demographic.
Who Wants to Provide for the Kids? Your Mom.
Just because Boomers aim to be one of the kids doesn’t mean they want to shirk all marks of adulthood, though. Boomers are also interested in starting college funds for their grandkids, so investment firms and financial planners will be of great interest to Boomers, too. Children’s clothing and toys, which are common gifts from Boomers to their grandkids, will also be a popular market.
Who Knows Her Way Around Google? Your Mom.
This point is huge for content marketers. About 86.4 percent of Boomers used search in December 2012. That almost equals the 85 percent of people who used the Internet for hobby-related research. So blogs, videos, and other content resources can all be a well of information. If a Boomer wants to learn more about a certain skill or hobby related to your business, he or she can use their searching skills to find your company.
Who Likes Email? Your Mom.
Boomers actually favor email more than millennials do. Pair their email friendliness with the fact email is one of the most cost-effective forms of marketing, and you’ve got a formula for success.
Who Cares About the Following? Boomers Do, and So Should You.
The things mentioned above are just a sample of what will be attractive to Boomers. According to business blogger Rieva Lesonsky, they’ll also pay close attention to markets that deal with three things. The first is caregiving. As their parents grow older, Boomers will seek in-home care and other resources to assist them with family care.
The second is divorce. As couples split up, the real estate, wealth management, and travel markets will see interest in newly single people.
The third is luxury travel. As they inherit their parents’ money, Boomers will not just want to travel; they’ll want to do it in style and comfort.
Baby Boomers can’t be ignored. Not when they’re such a huge consumer base. Not when they’re as active on the Internet as their younger companions. And especially not when their concerns span such a wide range of markets. If you’ve only been targeting young consumers, it may be time to shift gears. Pick up the phone and give your mom a call.
Image credit: freedigitalphotos.net/Ambro