Boomers – spanning 20 years, are at various life stages with needs for products and services. One More Reason Why Marketers Still Need to Target Boomers

Though marketers are tempted to lump all Baby Boomers together in one demographic, it is critical to realize that spanning 20 years from leading edge to trailing edge Boomers, they are not all the same. Categorized as being born from 1946 - 1964, the 40-somethings don't really see themselves as relating to the Boomers turning 65 and vice versa as illustrated in a commentary to Matt Thornhill, Boomer Project founder/president. And even within one age demographic, like the larger segment of the audience in their mid - 50's, there can be Boomers with young children or teenagers right through having grandchildren. Not to mention those already taking care of their parents. The key is to focus on life stage no matter what the age and since they're not brand loyal (as described in our last post), there's plenty of opportunity for new marketers and new products or services to catch Boomers' attention. You just have to appeal to what's going on in their lives now and not focus on their age.


Source:  MediaPost Engage:Boomers Blog, article by Matt Thornhill

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers – not brand loyal and are more ready and willing to make a switch. One More Reason Why Marketers Still Need to Target Boomers

Commonly thought to be set in their ways, Baby Boomers are more likely than Gen-x and Gen y to experiment with new products. Boomers are more likely to place importance on perceived benefits such as price, value and customer service, where younger generations are more likely to focus on style and prestige. Consumers in all groups say they will switch brands and pay more to get a product that better meets their needs.

A  Nielsen/Hallmark study updated information on Boomer spending power and compared brand loyalty measures by product across Boomers and younger demographics. Boomer households represented more than 50% of sales in 98 of the 122 product categories analyzed, accounting for almost $200 billion in total sales in those categories.
Yet, despite the fact that the average Boomer share of those categories was 53%, some advertisers do not target Boomers with their media strategy, instead concentrating dollars on younger consumers with the intent of wooing loyal lifetime customers.

Are you targeting the Baby Boomer audience? Is your brand message resonating with them and drawing them in? 

Source: Nielsen

(On January 1,2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers – turning to nutrition to fight the effects of aging. One More Reason Why Marketers Still Need to Target Boomers

Food manufacturers are quickly discovering that Boomers are turning to nutrition to fight the effects of aging. According to Kantha Shelke, Ph. D., a Contributing Editor of FoodProcessing.com, “Boomers are using nutrition to take the sting out of age-related complaints including pain, memory loss, fatigue, indigestion and declining vision”. Shelke believes “nutrition has become the Baby Boomers’ antidote for most of the negative effects of aging."

Food manufacturers are embracing supplements that battle chronic diseases from heart disease to arthritis by including them in their food and beverage formulations. For example, SMART BALANCE has added omega-3’s (a key nutrient for heart health) into their buttery spreads, and there are a variety of vitamin-enhanced, omega-3 eggs. From the Blueberry Council and the Almond Board of California, to the Cranberry Marketing Committee, they are all jumping on the nutritional bandwagon by promoting the health benefits of their foods. With Boomers demanding these changes, companies are starting to respond. There's opportunity for more to jump on board.

Source:  FoodProcessing

(On January 1,2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Baby Boomers looking to fitness and sports to unlock a healthier lifestyle. One More Reason Why Marketers Still Need to Target Boomers

Physical fitness has always been the mainstay of the Boomer lifestyle. The fitness craze as we know today started with Boomers 54 years ago with the establishment of the President’s Council of Physical Fitness & Sports.  Established by President Dwight D. Eisenhower on July 16, 1956, this council set the national tone for youth fitness that would filter through to every school in the nation. Boomers became the first generation of children to be the focus of physical fitness in our nation’s history.

Throughout their lives, Boomers have elevated adult recreational sports to a new level.  From the growth of the snow ski industry in the 1960’s, to the rise of racket ball in the 1970’s, the aerobic craze of the 1980’s, the expansion of heath clubs in the 1990’s to extreme sports in the 2000’s, Boomers were there. They have left their footprint on each sport they’ve conquered and have a fine appreciation of physical fitness and the active lifestyle it allows them to pursue.

Lifestyle companies should turn to Boomers if they're looking to reinvigorate their businesses.  Whether it’s a sporting center, health club, wellness center, or yoga studio, the opportunity for growth with Boomers is enormous. After all when Boomers embrace an activity they do it with gusto!

Source: Miami Herald

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

“Boomeritis” the aches and pains of Baby Boomers. One More Reason Why Marketers Still Need to Target Boomers

“Boomeritis” commonly known as the aches and pains of Boomers is a term coined by orthopedic surgeon Nicholas DiNubile, author of Frame Work: Your 7 Step Program for Health Muscles, Bones and Joints.  According to Dr. DiNubile, “ In just over 100 years, we’ve doubled our life span, but evolution hasn’t caught up to that.”  Despite Boomers taking better care of themselves, Boomers bodies are breaking down. Could it be the Boomer’s body warranty has run out? The opportunity is enormous for sports therapists and athletic trainers to develop appropriate and consistent exercise programs for the Boomer athlete, and for wellness centers that provide kinder, gentler forms of beneficial exercise.

Source: The Bismark Tribune

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers on a spiritual journey. One More Reason Why Marketers Still Need to Target Boomers

Boomers attitudes towards organized religion and the role it plays in their lives has changed over the decades.  Similar to their parents and even their grandparents, they are seeking out meaning in their lives as they age, but unlike those before them, it is in a more individualistic way. Today there seems to be a trend among Boomers as describing themselves as more spiritual and less religious. This is supported by an AARP study that found 85% of Boomers considering themselves as either “somewhat spiritual” to “very spiritual.”

Professor Wade Clark Roof, PhD, Department of Religious Studies, UC Santa Barbara, explores the subject of spiritually in this book Spiritual Marketplace: Baby Boomers and the Remaking of American Religion. In his book he charts the growth of five subcultures of Boomers: dogmatists, Born-again Christians, mainstream believers, metaphysical believers and seekers, and secularists. According to Professor Roof, Boomers have found multiple and complex ways to be spiritual without being religious.

Source: BNET – The CBS Interactive Business Network

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: Losing Their Quest for the Fountain of Youth? One More Reason Why Marketers Still Need to Target Boomers

Were people age 50 to 64 a decade ago healthier than Boomers of the same age today? A recent analysis of disability data from the National Health Interview Survey, a nationally representative survey of health issues for Americans, suggests that may be the case.

Researchers from the RAND Corporation and the University of Michigan found that significantly more Americans in the 50- to 64-age group were reporting disabilities related to mobility in 2007 than in 1997. For instance:

• More than 40 percent of people aged 50 to 64 reported that, due to a health problem, they had difficulty with at least one of nine physical functions; many reported issues with more than one.

• Over the study period, researchers noted a significant increase in the number of people reporting that a health problem made it difficult for them to stoop, stand for two hours, walk a quarter mile or climb 10 steps without resting.

• There also was a significant increase in the proportion of people who reported needing help with personal care activities of daily living such as getting in or out of bed or getting around inside their homes.

Particularly troubling was the increase in the number of reasons cited for the disabilities. From 1997-2005, neck and back problems, diabetes, and emotional issues such as depression, anxiety, or other problems were the most common causes. By 2005-2007, arthritis and rheumatism had been added to the list; with many respondents reporting that their disabilities had begun in their thirties or forties.
Whatever the reasons—obesity? Too little exercise? Too much tennis, golf, skiing, or marathon running? —it’s clear that as 78 million Baby Boomers head toward age 65 and beyond, this trend has the potential to overtax an already stressed health care system. At the same time, it presents real business opportunities for those focused on healthy lifestyle products and services. 
Source: Renée Despres, Senior Editor, ehealthMD.com

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers are reshaping the travel industry. – One More Reason Why Marketers Still Need to Target Boomers

As they have with everything aspect of popular culture Baby Boomers are in the process of reshaping the travel industry. They want vacations that are enriching, authentic, that incorporate learning and above all, unique. Boomers have moved away from the travel agent and have embraced the net when researching a vacation. Social media is now playing a major role in their decision making process as a new form of “word of mouth.”

The travel industry needs to take a close look at the travel selections Boomers make and how they go about planning their trips if they plan on being competitive with group. Boomers are a huge demographic and like with every other aspect of their lives will be the trendsetters for the travel industries.

Source:  Heather on Her Travels, AARP, Travel Insights 100

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

For Boomers, many of life’s little luxuries are basic necessities. One of Our 65 Reasons Why Marketers Still Need to Target Boomers

Internet connections. Birthday gifts. Family vacations. Pets. What once might have been considered luxury items are now viewed as basic necessities by Boomers.

According to a recent survey by MainStay Investments of 1,049 consumers aged 45 to 65, 84 percent of those surveyed said having an Internet connection is a basic need, and 66 percent said shopping for birthdays and special occasions is. 51% percent said pet care is a basic need, and 50% said taking a family vacation once a year is a need, not a luxury,

How do Boomers plan to maintain this “luxurious” lifestyle in retirement? The Boomers surveyed told researchers they’re willing to work longer or alter the way they save. About three in four said they would rather spend less now so they can invest in a more comfortable retirement. And 47% said they would downsize their home in retirement to be able to afford their lifestyle expenses. Sounds like an opportunity not just for financial planners, but for luxury marketers as well.
Source:  Catherine Carlock, MarketWatch

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers are charitable people. One More Reason Why Marketers Still Need to Target Boomers

When it comes to charitable giving, Boomers give on average $901 per year, $165 less than Matures and $105 more than Gen X. There is a huge opportunity for charities to solicit more out of boomers considering they give less than Matures and out number them 2 to 1, and are very passionate about making a difference in the world. The question is what is the best way to reach them? The answer might be integrating multiple channels with direct mail still a viable option.

Source: Joint study by Convio, Edge Research and Sea Change Strategies

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: the New Social Networking Mavens – One of Our 65 Reasons Why Marketers Still Need to Target Boomers

According to the good folks at the Pew Research Center, social networking use among internet users ages 50 and older has nearly doubled—from 22% to 42% over the past year. In fact, almost half (47%) of internet users ages 50-64 and one in four (26%) users age 65 and older now use social networking platforms to help manage their daily communications—sharing links, photos, videos, news, and status updates with a growing network of contacts.

The growth rate of younger users pales in comparison with that of Boomers and seniors.
Between April 2009 and May 2010, internet users ages 50-64 who said they use a social networking site like MySpace, Facebook or LinkedIn grew 88% and those ages 65 and older grew 100% in their adoption of the sites. That compares with a growth rate of 13% for those ages 18-29.

So much for those who say Boomers won’t try new things!

Source: Pew Research Center

For Boomers, eating out is still in. – One More Reason Why Marketers Still Need to Target Boomers

People 55 to 64 are the highest restaurant spenders, at $1,294 annually per capita, according to the National Restaurant Association, followed by those 45 to 54, who spend $1,175 a year on average.

If you’re a restaurant, what’s the best way to appeal to this hungry market? The National Restaurant Association’s Top Chef Survey identified the hottest restaurant trends of 2010 – most are sure to tempt Boomer appetites.

1. Locally grown produce
2. Locally sourced meats and seafood
3. Sustainability
4. Bite-size/mini desserts
5. Locally-produced wine and beer
6. Nutritionally balanced children’s dishes
7. Half-portions/smaller portion for a smaller price
8. Farm/estate-branded ingredients
9. Gluten-free/food allergy conscious
10. Sustainable seafood
Sources: National Restaurant Association
Boston Globe

 (On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: There’s No Place Like Home – One More Reason Why Marketers Still Need to Target Boomers

According to a study by Opinion Research Corporation for AARP, nearly 80 percent of Baby Boomers say they would like to continue to live at home for so long as they can. However, that same study showed that might not necessarily be the same home they live in now. A majority reported they intend to stay in a one-level home, relocate to one, and/or downsize. Homebuilders, home remodelers and realtors, take note.

Source: Asheville Real Estate Journal

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Caregiving means Boomers’ own needs come second. One of our 65 reasons why marketers still need to target Boomers.

Almost half of all Baby Boomers say tending to their own health and well-being comes second to caring for the health needs of loved ones, according to a new survey commissioned by Humana. While 81 percent of the baby boomers surveyed feel appreciated for the care they provide, the vast majority say they also feel stressed and exhausted. In fact, more than one in three of those surveyed say they often feel helpless.

As the number of Boomers providing care – and needing care themselves – increases, there will be big opportunities for businesses that provide information and services that help offer relief from the stresses associated with caregiving. These can range from medical to housekeeping to referral services, and can even include stress-reducing massage and exercise programs.

Source: Business Wire

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomer Women: looking for financial security & independence. One More of our 65 Reasons Why Marketers Still Need to Target Boomers

Though told at an early age that a husband would take care of them, very few Boomer women agree with that today. They don't want to depend on others as they age and want to plan for their own future. The biggest complaint is that most financial service firms are showing ads with women with "their man". 78% of Boomer women don't respond to that. They prefer images of families, with no clear image of hierarchy and want to be addressed as decision makers.
Source: MediaPost Publications, Engage:Boomers 11/1/10 by Stephen Reily of Vibrantnation.com

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: Rethinking retirement. One More Reason Why Marketers Still Need to Target Boomers

For decades the customary age for retirement in the US was 65 but Boomers are extending that up to 5 years longer. Reasons vary from pension cuts, healthcare coverage to longer life expectancy. The bottom line is, Boomers are reinventing retirement.

Source: U.S. NEWS & WORLD REPORT

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)

Boomers: Changing the demographics of aging. – One More Reason Why Marketers Still Need to Target Boomers

Over the next 10 years, as Early Boomers move to age 65 and beyond, there will be a 50% increase in the number of people 65 to 74 years old—a growth rate for that cohort not seen in more than 50 years. In fact, those Early Boomers, currently numbering about 36 million, have already swelled the 55- to 64-age cohort more in the past decade than in the previous 30 years. The result?  A demographic that’s the largest it’s ever been.

These very numbers insure that Boomers will change the very definition of aging, just as they have at every previous life stage. We see this presenting both a challenge and an opportunity for marketers who have been used to a more business-as-usual approach to targeting the senior market. Boomers are not all alike – and they most certainly are not like any generation that has preceded them.

Source: Met Life
http://www.metlife.com/assets/cao/mmi/publications/studies/2010/mmi-early-boomers.pdf

(On January 1, 2011, the first of the Baby Boom generation begins to turn 65. While marketers have traditionally viewed anyone over 49 as over the hill, there are compelling reasons why overlooking Boomers isn’t smart for business. During the course of the next few weeks, we’ll be highlighting 65 of those reasons.)