Why Marketers Love You!
By Mike Searles

This content was provided by a guest contributor.

 

Baby boomers are in the sights of ambitious marketers.

For one good reason...

Money. It seems you have lots of it.

Baby boomers have money to spend and are willing to spend it.

Marketing guru Dan Kennedy describes it like this...

"There is a new “super” class of customers: the affluent new spending class that have money and are ready, willing, and able to spend it on “premium” goods and services."

"They shop at Nordstrom and Saks Fifth Avenue, eat at Morton’s and Ruth’s Chris, and stay at the Four Seasons and the Ritz Carlton. They want something... and they’re willing to pay ANY price!"

Who is Kennedy talking about? Baby boomers and affluent seniors!

He goes on to say, "We are in the midst of a demographic revolution with the peak of the Baby Boomers population, and the emerging mass-affluent."

"They are creating what I call a new “Spending Class” of consumers that need to be understood and targeted." writes Kennedy.

We 'boomers' are a stand-out blimp on the economic-radar of serious marketers of products and services.

Example?

Consider the health market.

Regaining and prolonging health and wellness is a primary interest of a high proportion of baby boomers (currently aged 72 - 54).

A review of the marketing book, 'No BS Marketing to Leading-Edge Boomers & Seniors', co-authored by Dan Kennedy and Chip Kessler tells us more.

"Most Leading-Edge Boomers and Senior individuals are concerned with living vital lives, and maintaining as much of their youth as they can. They don't like being called "seniors." They identify with an age 15 years younger than their chronological age...", writes book reviewer Michael C. Gray.

Here’s another point of view.

Greg Fawcett, a medical marketing expert confirms in his report, '5 Reasons Why Healthcare Marketing Strategies Should Target Baby Boomers'.

Reason #1: Baby Boomer Numbers Almost Equals Millenials (we are a big market)

Reason #2: Baby Boomers Feel Younger (and want to stay that way)

Reason #3: Baby Boomers Are Online (and staying online for longer per session)

Reason #4: Baby Boomers Are Wealthier, and They Spend More (than millenials)

Reason #5: Boomer Marketing is Different (see below)

How is marketing to baby boomers different to marketing to other age groups?

Greg Fawcett continues to explain by highlighting three points...

  1. Baby Boomers are more likely to pay attention to reviews by peers than other generation groups are.
  2. Boomers are the group most likely to access a website from an address found on printed (offline) material.
  3. Baby Boomers value the brand or patient experience more than the services themselves. Apple found this out recently and adapted its marketing of the iPad to point out the simplicity of the experience and the usefulness of the product. This has proved to be a pivotal point with the Boomer market compared with other products that promoted how “cool” devices were instead of how useful they are to everyday life.

Being targeted by advertisers and marketers isn't new. It’s been happening for hundreds of years. And it's not something bad either. It’s a proven way for consumers to become aware of available products and services.

Every age group is targeted by marketers. From newborns (diapers) to the frail and elderly (funeral services).

It's interesting to learn how marketers target their preferred audiences.

We baby boomers have something marketers want. Our money and our willingness to spend it. The exchange is the high-quality products and services we consume.

Happy shopping!

 

 

About the writer:

Mike Searles is an Australian ‘boomer’ writer for hire. Contact hello@mikesearles.com




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