Issue# 668: 5th February 2014
Baby Boomers are the new BLACK!
Too many marketers have forgotten how to market to people aged 50 to 69. Cashed up, savvy and ready to be persuaded to buy from you.
The MI9 study that I read last year made much of the Baby Boomers being unhappy with the way that marketers communicate with them. With the demographic holding 40% of the nation’s wealth, this group is the most affluent and fastest growing segment of Australian consumers. “Currently, 4.7 million Baby Boomers revel in unprecedented financial and personal freedom (read: the kids have left home), and they are flexible enough to embrace new media, new technology and 72% say they are willing to try new brands.”
Can this be so?
I am a Baby Boomer. I have an unhealthy (for both mind and wallet) obsession with gadgets and new technologies. Have not fully embraced the new media - yes, I can see the point, but really can’t be bothered. But am I willing to change buying habits? Maybe. Maybe not.
One thing that I am not willing to do is to put up with marketing messaging that is poorly crafted and poorly targeted. I get frustrated with the brands that I do buy getting this wrong, let alone put up with brands that I don’t buy getting it wrong. So what does it take to get me to change and am I typical?
Many of the readers will be in the same if not older age bracket. they will have similar horror stores and similar preferences. Some will be more willing to change and others will have their preferences set in concrete. But the real message here is that for part of this audience, if the targeting and messaging is right, marketers have an immense opportunity to gather new customers. All you have to do is get the messaging right…simple enough to plan, soooo hard to do.
Much of this segment looks for anything that allows them to feel and look younger than their years. We all know people that are 60 but act and look 40, and then there are 60 year old’s that act like they are 70. If you market to these people the same way, then you run a grave risk of offending too many.
There is only one way to get to this audience…data-driven marketing. Everything else will have a wastage and “rejection factor” that will ensure that your brand will never be considered. A good database will be the cornerstone of this type of campaigning. If you can identify some lifestyle characteristics to segment your messaging, you are on the road to some success.
One of my favourite advertising people - Rory Sutherland (Vice Chairman of Ogilvy One) succinctly describes this form as messaging as “rational persuasion” - the right blend of facts and emotion to get this audience to engage. This audience was born in an era before our digital age, so they are not afraid to read, in fact they love to read. Compelling copy that delivers buyer oriented facts/benefits will convert their purchase intention.
Baby Boomers are cashed up. They have the time and inclination to try something new. They want to be spoken to as a contemporary (rather than relics of the past). They are online and will spend the time to read all about what you are offering.
I am thinking that Baby Boomers sound like the perfect target for your next DM campaign. Let me know if you want some…
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