\ec·lec·tic\ adj. selecting from various systems, doctrines, or styles. n. a person who uses various methods in philosophy, science, or art.
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January 2008
Baby Boomer Marketing
What You Know. What You Think You Know
21st century marketing firms palpitate at the thought of the purchasing power of “Baby Boomers” over the next 30 years. Baby Boomers, approximately 78 million of them, make up what is viewed as the largest “Big Spenders” the planet has ever seen. Yet, whereas the BBs are viewed as some monolithic tsunami gaining economic strength, ready to deluge the economic landscape with billions of pent up dollars, BBs are far from monolithic in their political, economic and social tastes, and marketers should take note.
Baby Boomers in the U.S. & Canada (and Great Britain, Australia, and some European countries) have been thusly dubbed as they represent the post-World War II generation born from 1946 to 1964 – an eighteen year period of intense domestication and family building, fostered by a pre-birth control, pre-feminist era of immense conspicuous consumerism. Add to this the post-war “leveling” effects of the proliferation of the Ford or Chevrolet, the advent of national commercial television & the standardization of public education and the BB Gens becomes a generation unlike any one before it.
Nonetheless, the eighteen-year Baby Boomer period represents two very distinct groups, the older BBs from 1946 to approximately 1955 and the young BBs from 1956 to 1964. Their collective experiences differed from one another much as the oldest siblings in a family differ so drastically from younger ones. While older BBs are on the edge of retirement, taking care of their elder parents, and beginning to experience the “empty nest” syndrome en masse, younger BBs may have children still in pre- or elementary school and see their selves as actively engaged in their career & family trajectories.
Older BBs are beginning to transition or “shiftdown” their lives in some fashion, while younger BBs are still “shifting up”. The two BB groups are as significantly different as those who listened in their formative years to the Beatles, Rolling Stones, Traffic, Pink Floyd, and the Beach Boys, and those who listened to Abba, Van Halen, Air Supply, the B-52s, & Duran Duran. It’s as significant as those who watched Annette Funicello on a 12-inch black & white TV screen and those who watched Star Trek on a 20-inch color screen. And then there are those 45 RPM records vs. cassettes, or Sean Connery vs. Roger Moore, or the Vietnam War & Watergate vs. the Iran Hostage crisis & Reaganomics. Younger BBs are the largest share of the total U.S. population, not their “elder” siblings.
BBs are a much more diverse group with a different consumer pattern than the rest of the population – both older and younger. The 50+ BBs have in many ways more in common with "their parents" than they have with the 40+ later BBs. Older BBs come from the Civil Rights era and in some ways are dominated by ethnic, cultural and economic classes of the past. Younger BBs are the first generation that begins to experience a positive “equality” shift. Although Older Boomers represent an “unequal” American Society, they are the "bridge" between the "older culture" of their parents and the "newer culture" of today, and as a whole have adopted, and adapted to, both the old and new.
Today, BBs are 42% of the workforce and they hold most of the major corporate & political positions in the U.S. In 2011 and beyond, our economy will demand that BBs remain in the labor force as there will be a nationwide labor/talent shortage. Fortunately, with the BB’s desire to mix work with play, BBs will reinvent retirement - going into “Un-Retirement” - with a hodgepodge of part-time, flex-time, telecommuting, consulting and entrepreneurial vocations.
Baby Boomers will work longer as many held off on having children and thus have children in college. BBs are also more likely to have underage children – their own or their grandchildren – still at home. BBs view themselves as “younger” than their parents, so Don’t Call Them Senior Citizens! They are “in their prime” or “mature” – and, although better educated than their parents, BBs have not saved enough to fully retire. Yet, overall they have more disposable income and most will have more time to earn, save and grow their investments.
Many BBs will NOT retire to the “senior” communities of their parents; they will gravitate to smaller intergenerational communities. BBs in general have less leisure time than their parents as they have both their children and their parents to care for. When full retirement does arrive, BBs will regain freedom which equates into time to do other things.
Boomers are the #1 television generation – more than any other generation before or since. They are the largest TV viewers in U.S. as they have not gravitated en masse to other forms of media. BBs though are more eclectic than other generations, older and younger, in their media choices. BBs stick with what they know, but they embrace the new – adding to their repertoire rather than replacing it, i.e. print, TV, radio, Internet, IPod, IPhone. It is important to note that BBs still use PRINT MEDIA as an information & recreation source, preferring "hard copy" over digital.
BBs are at the forefront of the USER REVOLUTION, and will adopt one-touch multi-media and technology to improve their lives and save time. BBs use of new technology though is more utilitarian than younger generations, an avenue to SIMPLIFY their lives and as a SOURCE for knowledge and information.
Other Boomer traits include:
Internet savvy Boomers go on-line more and stay on-line longer than younger generations.
BBs own more computers than other generations, younger or older.
Boomers do not multi-task as younger generations, preferring to stay with one medium at a time.
Older boomers watch more TV and listen to more radio than any other generation. Thus, retirement for BBs will mean more time to devote to media outlets.
Although not all older BBs were campus radicals, music is central to BBs lifestyle and many relate to the counter culture through commercial “mainstream” outlets – CDs, TV, radio. Older BBs STILL purchase CDs and visit retail music stores.
Mindshare, a media consulting firm, sees two types of Boomer media consumers:
1. Leading Edge – 45 to 54 years-old – watch CSI, The West Wing & ER – interested in news, SciFi (from Star Trek years), and Lifetime cable network – entertainment for women. Leading Edge BBs will search for “in-depth” programming, ie. social documentaries, challenging scientific specials, comedies with sophisticated historical or cultural references, substantive radio programming, Cable News. Leading Edge BBs average 21 hours per week listening to radio. News/Talk radio is #1, Rock is #5.
2. Later Boomers – 35 to 44 years-old – watch ER, Friends & Survivor – interested in reality shows, SciFi. Rock radio is #2 and adult contemporary #1.
Baby Boomers will provide ample marketing opportunities for several generations of marketers & entrepreneurs over the next 30 years. Anticipating and responding to both the first OLDER wave and the more substantial YOUNGER wave will be an exciting & potentially lucrative challenge. Either way, old or new BB, a Woman’s POV will play a major role in how your BB marketing efforts play out.
Here's The Facts!
WOMEN are responsible for 83% of all consumer purchases. They are the deciding factor in 92% of vacations, 91% of housing purchases, 51% of consumer electronics, 60% of cars, 89% of banking relationships, & 80% of healthcare decisions. NEED I SAY MORE! BBs are dominated by female decision makers. By 2030 – females will be 60% of BBs.
Boomer women are better educated, more independent and more financially engaged than their male BB counterparts. There is a HUGE difference in the way BB women plan to retire compared to BB men. BB women will pursue further educational, community involvement & hobby venues that were “back burnered” for family and career, whereas BB men want to spend more time with their spouse.
Think Sally Field (1946), Laura Bush (1946), Hillary Clinton (1947), Carly Fiorina (1954), Oprah (1954), Meg Whitman (1956) - the early BBs, and Meg Ryan- (1961), Anne Coulter (1961), Jackie Joyner-Kersee (1962), Cheryl Crow (1962), Sandra Bullock (1964), Melinda Gates (1964) - the late BBs! The boomer “generation gap” holds true with the ladies as well and needs to be addressed in marketing strategies.
A marketing focus involving both digital and print media will serve well to “captivate:” and “capture” a portion of the Boomer wave. BB demographic research points to a much broader spectrum of opportunities for those who wish to target this diverse group. AND it is a long marketing ride - some 30 years! Yet, to be successful a marketing focus must find the commonalities and "dissect" the differences between Old and New BBs to provide unique, targeted experiences.
More Useful Tidbits About BBs
BBs VOTE and are the single largest voting bloc 42% of BBs state they will cycle between work and leisure during “retirement” period 16% state they will have part-time jobs 13% state they will start businesses 6% state they will work fulltime 17% will RETIRE completely BBs will transform from “ME” generation to “WE” generation as they turn their focus onto their children, grandchildren, their parents and their communities. BBs are more “outer directed” – 10 times more likely to “put others first”. 2/3rds are married BBs less likely to change their marital status at this stage of life and less likely to change jobs 6 million BBs are already grandparents – quadrupling over the next 10 years BBs are highly individualistic, less happy with the status quo, more skeptical and more likely to reject authority BBs focus on education BBs own computers – more so than other generations. BB eating habits still shape restaurant marketing behavior as BBs move to steak, salad, soup and seafood venues. BBs want to “have it their way” regarding prepared foods and consumer goods. BBs STILL visit shopping malls more than any other generation. BBs shop quality & price and have been the impetus for “discount” stores, i.e. Costco, WalMart, Target, Ross. BBs are notorious credit card users BBs are more intuitive than reason oriented First impressions are important to BBs as they are more emotionally based BBs want more information than younger consumers BBs are more sensitive to metaphorical meanings, nuances & subtleties; more receptive to narrative style communication – Think Hallmark Cards. BBs are increasingly HOMEBODIES. They are NOT relocating to new economic “hot spots” and many are returning to their older more mature regions of the country where they grew up. BBs do not see them selves as “old” but do understand the “slowing down” of their physical capabilities and want to address them head on. BBs wish to improve brain health and fitness. BB Trends will include retro sports, folklore/storytelling, micro housing developments, faux families, social/cultural renaissance, custom tailored health vitamins/elixers, turn “retired” time into political power, nostalgia & collectibles, automobile downsizing, household downsizing, increased household furnishings, home remodeling, multi-media centers, gamble via lottery or LV, increased need for financial counseling, personal and planetary health, aging gracefully – not youthfully (think Helen Mirren). Huge jump in travel and healthcare marketing opportunities. For recreation, Older BBs are heading to Las Vegas, whereby younger BBs are still active in more strenuous sports, i.e. mountain climbing, skiing, etc. Las Vegas’ Older BB tourists stay longer and spend more money. Other BB trends: full-service restaurants, travel, second homes, smaller homes, health/fitness, Internet Job Banks for Older BBs will flourish, i.e. YourEncore.com. SeniorJobbank.com, Seniors4Hire.com, Dinosaur Exchange. Where do BBs live?: New England, Eastern seaboard, upper Midwest, upper Rocky Mtn west and Pacific NW. Alaska, New Hampshire, Vermont & Maine have the largest share of BBs. Followed by Wash DC, Colorado, Connecticut, Maryland, Virginia, Minnesota, Wisconsin & Michigan. The largest BB communities are Falls Church, Wash DC, Marin County, Putnam NY, Denver, Nashville, Minneapolis, Colorado Springs, Baltimore, Portland, Santa Fe, as well as former “Yuppie” communities – Seattle, San Francisco, Atlanta and Wash DC. Bach & Botticelli are out. Classical is being replaced by “show or movie theme music”, think John Williams, James Horner & John Barry. Older BBs will still dominate the fine arts venues for a time – classical music concerts, opera, theater, ballet and art museums as they mirror their parents tastes. Younger BBs do not. Younger BBs made up 44% of the jazz concert attendees, but that figured has now dropped to 26%.
One survey identifies five different BB Groups:
1. Empowered Trailblazers
2. Wealth-Builders
3. Leisure Lifers
4. Anxious Idealists
5. Stretched & Stressed
Each has a different “hot” button
How to Market to BBs?
Sell experience, not age
Use “Mature” or “Prime”, not “Older” or “Senior”
Use positive role models – don’t focus on limitations – use healthy, active, age-appropriate role models in advertising.
Use larger fonts – or give BBs ability to manipulate fonts on webpage.
Make good use of white space – copy too dense is hard to read
Use strong colors and contrasts – b & w is best – not subtle color differences.
Address BBs directly and personally, not in 3rd person.
Treat BBs like family
Identify niche opportunities/markets
Ads need to connect to BBs idealized image of self
AND REMEMBER - FOCUS ON WOMEN!
Ted DeCorte, M.A.
BABY BOOMER MARKETING- Essays, Reports & Websites
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