Today’s marketers seem infatuated, perhaps even a little obsessed with, Millennials. And, when you read studies, like the one done by Accenture that reports Millennials spend roughly $600 billion annually, you understand why companies like Coca Cola and Uber make marketing to this demographic their primary focus.
However, in their mad dash to woo one demographic, marketers frequently ignore another: Baby boomers. And this is a mistake – a big one.
In fact, according to Baby Boomer Magazine, roughly 40% of all consumers are baby boomers. That’s nearly half of the people spending money to buy stuff that gets completely ignored! Uh, you could say today’s marketers are leaving a whole lotta money on the table by ignoring this portion of the population.
WHY Target Baby Boomers
If you …show more content…
In fact, baby boomers as a group are quite affluent. According to a Nielsen report, this demographic makes up 70% of the nation’s disposable income. On top of this, baby boomers are expected to inherit $13 trillion (that’s with a “T”) in the next 20 years. The bottom line is they have money to spend. They know they have earned the right to invest in themselves and their passions and hobbies and are ready to pay top dollar for travel, recreation and other leisure activities.
HOW to Market to Baby Boomers
Now that you know WHY you should focus your marketing efforts on this demographic, let’s talk about some important points to remember when creating your campaigns.
Baby Boomers Use Social Media … But Differently
It is a misconception that baby boomers aren’t involved in social media – they most certainly are. But you will find them using certain channels more than others. While a 23-year-old may use Snapchat or Instagram to post photos or videos of their wild night out, baby boomers tend to stick to Facebook and Youtube to post images and videos of their new grandbaby or the lake cottage they just
However, in their mad dash to woo one demographic, marketers frequently ignore another: Baby boomers. And this is a mistake – a big one.
In fact, according to Baby Boomer Magazine, roughly 40% of all consumers are baby boomers. That’s nearly half of the people spending money to buy stuff that gets completely ignored! Uh, you could say today’s marketers are leaving a whole lotta money on the table by ignoring this portion of the population.
WHY Target Baby Boomers
If you …show more content…
In fact, baby boomers as a group are quite affluent. According to a Nielsen report, this demographic makes up 70% of the nation’s disposable income. On top of this, baby boomers are expected to inherit $13 trillion (that’s with a “T”) in the next 20 years. The bottom line is they have money to spend. They know they have earned the right to invest in themselves and their passions and hobbies and are ready to pay top dollar for travel, recreation and other leisure activities.
HOW to Market to Baby Boomers
Now that you know WHY you should focus your marketing efforts on this demographic, let’s talk about some important points to remember when creating your campaigns.
Baby Boomers Use Social Media … But Differently
It is a misconception that baby boomers aren’t involved in social media – they most certainly are. But you will find them using certain channels more than others. While a 23-year-old may use Snapchat or Instagram to post photos or videos of their wild night out, baby boomers tend to stick to Facebook and Youtube to post images and videos of their new grandbaby or the lake cottage they just