Contrary to popular belief, marketers are not merely interested in Gen Z and Gen Alpha in their promotional endeavours. The baby boomer market is also a lucrative segment that needs to be tapped via the right channels.
In fact, the market research company Insider Intelligence says that this year, 11.3 million consumers between the ages of 55 and 64 and 10.8 million consumers who are above the age of 65 will turn to social media to make a purchase.
This creates a massive opportunity for marketers who are on the ball.
Who are they?
The Census Bureau reported last year that about 70 million people in the United States belonged to this category, which was about 20 percent of the entire population.
They are a generation that has witnessed a great deal of important historical events such as the Cold War, the Moon Landing, and the introduction of the internet. They are educated and believe in hard work. The social and political events they have grown up with have influenced who they are.
Why are baby boomers important?
While baby boomers may be considered a hard-to-reach market in this day and age due to the perceived digital divide, targeting them in promotions is hugely beneficial to businesses.
They are an established age group—mostly secure in their work, savings, and investments and even in their habits. Furthermore, they are also likely to have credit cards and more and more of them are now venturing online to make their purchases.
Insider Intelligence reports that 63% of baby boomers possess a credit card. Close to 40 % had used their credit card to make an online purchase within a week in the latter part of last year.
A Federal Reserve report also said last year that baby boomers control over 50% of the wealth in the US
A study by Google also says that baby boomers spend more time online than watching TV. It also says that 82% of this market segment has at least one social media account, with Facebook and LinkedIn among the more popular platforms.
The other latest platforms that baby boomers seem to frequent are YouTube, X (former Twitter), Instagram, and Pinterest.Â
Baby boomers and technology
Many of them may have been the last to join the technology bandwagon, but they have slowly but surely been acclimatising themselves and becoming more present online.
This generation mainly uses technology to access the latest news, check their email, obtain health information, and access social media where they also shop for various items, such as groceries.
How to reach them on these platforms
The baby boomer generation is more interested in value for money; perhaps more so than any other age group. Demonstrating how your brand will enhance their lives in various ways will persuade them to opt for your product over others.
To do this, use language that is simple and succinct. They prefer the no-frills explanations that save time and explain clearly the benefits delivered by your product.
Accompany your message with good images that will convince them. These need to be clear and attractive.
Furthermore, the baby boomer generation consists of those who have been brought up on facts and reliability. Therefore, give them these details, show that your company is reliable, and invite queries to assuage their doubts. Adding testimonials to your advertisements will be beneficial.
Overall, keep the clutter at a minimum and tell clear and concise stories via your advertisements or promotional material. Post these messages constantly and reach out to connect and build relationships.
Understand their needs
Baby boomers like their privacy, but they also appreciate personalisation in the promotional material that reaches them. For this reason, Direct Mailers are a good tool to use to reach them.
However, alongside this, this market segment also values the personal touch. They enjoy human relationships and having their questions answered directly. As such, reaching them online would ideally be followed by a phone call or visit where they can engage in a frank conversation about the product you are selling them. A successful sales visit will be instrumental in building brand loyalty, which will probably be maintained for years to come.
Finally, understand that as with any other market segment, baby boomers’ needs will change as they age. They will need more focus on healthcare, more reliability in the products they use, and more human connection so that they feel less isolated. Knowing their changing behaviours and lifestyles will be important for marketing products and brands to them that will resonate with who they are.
Ensure that the tools that are used to reach them hold a mix of traditional and digital methods so that there is reliability, authenticity, and better customer service. Their perceived value of the latter will determine how far your brand journeys with them.
(Anouk De Silva)