The baby boomers are a generation that grew up in an era of reform believing that they could change the world. Baby boomers were born between 1946 and 1964, and control almost 70% of the nation’s disposable income. They went from Hippie to Yuppie, understanding that the world doesn’t owe them anything. Unafraid of confrontation, baby boomers will challenge authority and push the norm. In the second of our five-part series (Marketing to a Generation: Millennials), we provide you with marketing strategies to acquire the baby boomers.
Not So Fast. On December 31, 2029, the last of the Boomers will turn 65. The 65+ population segment is projected to double to 71.5 million by 2030 and grow to 86.7 million by 2050. Possibly more than 80 million will be on Medicare and Social Security. Baby boomers are not your typical retirees. 13% of the generation are delaying retirement due to a desire to stay active. When it comes to baby boomer marketing keep in mind that they’re not like prior generations. Baby boomers will travel, be adventurous and live life to the fullest as they enter the final quarter of their lifespan.
Facebook. Whether they are keeping up with family across the country or sharing politically related content, baby boomers love them some Facebook. The average baby boomer has at least 130 Facebook friends with an astounding usage rate of 85%. Digital targeting via Facebook is a must for your business to acquire the baby boomer.
Mobile. We found out how important it was to be mobile friendly for the millennial generation. Baby boomers aren’t too far behind, surprisingly. 89% of boomers have a cell phone, and 13% have completely ditched their landline. Baby boomers are extremely active on tablets. Boomers are 5 times as likely as the general population to own an iPad or another tablet. If your business is failing to market to the mobile customer, then your business is most likely failing. Have a mobile strategy and please make sure that your website is fully responsive to all types of devices.
Promo. Baby boomers grew up on coupons and newspaper inserts. They love a good buy or a special sale. 79% of baby boomers prefer a store valued, generic brand over a brand name product that is a higher price point. Make sure you are driving the value of your products home to baby boomers and continuously being creative in your promotional strategies.
Missing Out. Baby boomers are an under targeted generation. Many brands and strategist feel the messaging that is effective with baby boomers will push away larger buying groups (millennials) and age their brand. But baby boomers still are 25% of the total population, with over three trillion in buying power but less than 5% of total ad dollars are targeted towards this group. If you can get creative, this generation is waiting to be marketed to.
Text Please. As you have read in previous articles, video is the overwhelming marketing trend that is providing high ROIs and crazy engagement rates. But baby boomers actually prefer text over video. While Boomers spend a large portion of their time online, they spend less of this time watching online video than Millennials and Generation X. The length of your ad copy can be much more descriptive and longer than you would typically expect for an effective advertisement.
This is the second in a five-part series that will highlight each generation and how your business can actively market to each to increase sales.
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Allevi8 Marketing is a digital marketing agency located on Chicago’s Southside. We create awesome websites and digital experiences for small to medium sized businesses. Providing full branding and creative abilities to our clients, we help your business get more customers. From social media management to SEO to public relations, we will help you grow your business. Contact us today for a free consultation and be where the world is going.