Baby Boomers make up a significant portion of the American population – and they represent an important, niche demographic for marketers. Comprised of about 76 million individuals born after World War II and before 1964, these individuals collectively represent more than half of the nation’s consumer spending.
Granted, that’s a wide margin of ages. The key points are that 30% of Americans are older than 50 and that this segment of the population began retiring as early as 2007. By and large, they have access to significant disposable resources.
What’s also important to note is the fact that Baby Boomers are expected to be the first recent generation to enjoy an extended lifespan, as compared to their predecessors. This means that there are entire additional years of a potential relationship between you and your consumer. It also means that these clients will have an impact on the economy for a long time yet to come, and their choices will leave a mark on future generations of business as well. Middle age and even retirement may be just the beginning of a new chapter, bringing new needs and priorities to the foreground for a vast population.
Some industries may be especially in tune with the needs of an elderly generation or offer products that have a longer-term appeal. In this case, understanding what Baby Boomers want and what they respond to is especially vital. But really, there’s cause for every company to look at how its products or services can benefit this vast audience.
Here are a few tactics for advertising to Baby Boomers:
1. Discuss health benefits. Baby Boomers are very concerned with their ongoing health. This means making plans now as a preemptive measure as well as securing plans and strategies for the future.
2. Emphasize family values. Family is another strong value for this demographic. Many Baby Boomers have many siblings and went on to have large families as well. You can construct emotion-based messages that explain how your business can promote familial closeness or make someone’s home life better. Explaining benefits for kids, grandkids and future generations can be useful.
3. Share a positive message. Baby Boomers are known for having a positive outlook toward the future. So despite any current climates, such as the present economy, marketing an investment toward a more positive future will resonate with this audience.
4. Make it worth sharing. Don’t discount these middle-aged adults in terms of social networking. True, they might be slightly less inclined to make your message go viral online once they’ve used your brand. But Baby Boomers are very likely to recommend trusted companies to their friends and families.