Marketing Across the Generations
Born between 1946-1964, Baby Boomers comprise 26% of the U.S. population. In Canada the baby boom was 1947 to 1966 and 1946-1961 in Australia. In the UK, Baby Boomers were born between 1946-1950. This year the first Boomers turned age 65.
They have tremendous spending power. Boomers are responsible for 47% of all spending.
What Boomers Like
Learning new things – Boomers have a quest for knowledge and pride themselves on continual intellectual growth.
Experiences – Boomers like to travel and do things they’ve never done before, try things they’ve never tried before. They have more free time than younger generations because their children are grown and gone. They also have more disposable income and they like to spend it on experiences.
Technology – Yes, technology. Boomers are not luddites, in fact, they spend the most money on tech. They also spend the most money online.
Targeted luxuries – Boomers won’t just spend on any luxury, but will if the luxury speaks to their passion. For example, wine. A middle-income boomer may not splurge on much, but if she is passionate about wine, you will find some expensive bottles in her house. She will also be thinking about her next stay at a B&B in a wine region.
Phone and email contact – They prefer to talk on the phone or through email. Texting and social media exchanges, not so much.
Being ageless – Boomers want to stay youthful, not young, but young in heart and activity.
The Marketing Spot
The best way to market to Baby Boomers:
– Talk to Boomers about the future, not the past. Put them in scenarios where they are active and ageless, not aging. Avoid nostalgia and “the good old days.” The good old days make Boomers feel old, and Boomers don’t want to feel old. Ever.
– Talk to Boomers about what they want to achieve. Boomers have dreams and goals and they will have them until they die. Don’t market to boomers like there’s something wrong with them or they have diminished capacity. Speak to them about improving, not getting fixed.
– Make Boomers feel hip and sexy because that’s what they want to be. Put them in youthful situations where they’re participating in current trends and traveling to exotic locations.
– Speak to their passions and deeper values. Use their passion and values to justify spending more money on a luxury.
Where to Market to Boomers
Television: Boomers watch more TV than anyone else.
Online: Boomers spend more time online than any other demographic. Including a heavy dosage of social media, especially niche social media communities related to their passion.