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Five Myths About Marketing to Baby Boomers

9/28/2011

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By Paul Prisco

Did you know every day over 10,000 Baby  Boomers turn 65? There are  almost 80 million Baby Boomers in the United States,  and collectively  this group has spending power upwards of $1 trillion annually. As a  business owner, you should examine the myths surrounding this age group 
if you want to successfully target this lucrative demographic. 

Myth 1: Baby Boomers have fierce brand loyalty

This is not the case, since Baby Boomers grew up in the 1960s during a  time  of youthful freedom, experimentation and expression. Some studies  have shown  Baby Boomers are more likely to try new brands than any other  demographic. For  example, 78 percent of Baby Boomers will switch TV  brands, and 70 percent will switch brands when buying home appliances.

 

Myth 2: Baby Boomers have health and mobility  issues

The perception that Baby Boomers are in bad health and have a hard  time  getting around leads to ineffective marketing. Your messaging and  offers should  engage them as active consumers. As a direct result of  medical technology and  the advancement of hip and joint replacement  surgery, among others, they are  going back to the activities they once  loved to do-and some have never taken a  break from them. What's even  more encouraging is that Boomers are engaging in  activities for health  benefits. They might not be running as fast or jumping as  high but they  are out there doing it. 

Myth 3: Baby Boomers get tighter with money as they  age

Baby Boomers now cite the average retirement age at around 68, and  over 50  percent of Boomers will have new careers. With a genuine need to  contribute to  society and stay active, retirement isn't what it used to  be. Baby Boomers will  have disposable income while working and continue  to try new things given their  busy and on-the-go lifestyle, which is  great for marketers.

Myth 4: Baby Boomers don't engage with technology
A recent eMarketer study confirmed almost 50 percent of Baby Boomers  maintain an active social media profile. So reaching them on Facebook,  Twitter  and LinkedIn is now an option. While Facebook is most popular  among Boomers,  Twitter is also growing in popularity. Don't count them  out on the mobile front  either, Boomers now account for over 20 percent  of smartphone users.
 

Myth 5: Baby Boomers don't travel that much

It is a fact that Baby Boomers have traveled more than the generation  before  them. They consider travel a necessity. With the kids off to  school and a great  connection to the global community, there is more  opportunity than ever.  Lastly, 82 percent of all luxury goods are  consumed by Baby Boomers, which  directly ties into the luxury travel and  hospitality industries.

 When thinking about marketing to Baby Boomers, the granny with the  walker image needn't apply. Today's Boomers are more youthful, both in  brand  expression and loyalty. Developing a solid research and  segmentation strategy  to drive your creative process and actively engage  Baby Boomers can prove to be  a smart and profitable move for your  company or brand.


OPEN Cardmember Paul Prisco is the Founder and Principal at Dog Food Design,  a design and direct-marketing  agency for brands. He has helped leading  organizations such as AARP and othersleverage design in their direct  marketing programs to driveROI.



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