If you fail to plan, you plan to fail, right?
That’s the accepted mantra to life and success in business. So when you’re putting together your business marketing plan for the year, you should be meticulous about the details: setting out your target market, preparing inventory and staff, carefully scheduling your promotions with events, and always leaving room for adjustments. You probably already know your target market – who they are, their geographic location, even their product or service preferences.
But how much do you know about your target demographic as a whole?
Understanding the base psychology behind the different generations can help you streamline your digital marketing strategies and techniques for improved overall reach. Since each generation is unique, we’ve compiled a mini-series delving deeper into marketing strategies to specific generations, shedding some light on their unique attributes.
What is a ‘Baby Boomer’?
After WWII, the western world experienced a sharp increase in births, seeing over 4,000,000 births annually. This birth boom fell between 1946 to 1964, and this cohort of children grew up to be known as the Baby Boomers, due to the sheer size of its demographics.
Baby boomers account for 34% of internet users, 32% of daily website traffic, and move $3.2 trillion dollars annually in sales. They are also the most likely to splurge on themselves as they near retirement. This demographic is a marketer’s dream, but acquiring them is a little more complicated and requires more finesse in tactic. The baby boomer consumer is not easily fooled by discounts or gimmicks; they are informed consumers backed by their millennial or Gen X children. Let’s delve deeper into this cohort and how to market to them successfully.
This generation is the most receptive to traditional marketing techniques like print or television, and they value talking to a real person prior to making a commitment. To gain a better understanding of the boomer psychology, we can further divide this age group into two subgroups – young boomers (aged 51-60) and older boomers (aged 61-69).
Most baby boomers are digitally savvy with over 84% using cell phones and computers. Social media usage has also increased to 38% in this demographic. Older boomers turn to the internet to research directions, health, and government websites, while young boomers use it for emails, hobbies, DIY projects, and politics. What we can glean from this is that your digital footprint should include email marketing and making sure your business is easily found on Maps, to truly capture this demographic.
In terms of marketing to Boomers online, make sure your content is up to scratch: 81% of boomers research products online before committing. But beware, the baby boomer generation likes concise content with a preferred article range of about 300 words, which means you have a smaller window of opportunity to captivate your prospective audience.
Adding Value to Experience
Because baby boomers grew alongside some of the most recognizable brands of today’s world, they are extremely brand loyal. So, to truly capture the heart (and wallet) of the baby boomer, you’ll need to prove (in 300 words or less) that your brand has value and prestige. Small points of credibility like ’20 years in business’, ’10 years of customer satisfaction’, and over ‘100,000 units sold’, can pique a baby boomer’s interest in your brand.
Baby boomers are the most likely to splurge on items and won’t be won over by discounts, so skip the 15% off code and look to up-sell instead. Why should they buy discount furniture or cheap products after working so hard all their lives? Top-shelf products are the items baby boomers covet. This cohort is also a big fan of loyalty programs that offer cash back; therefore, they’re the most likely to want to spend more to earn those points. Offering up-sells like “goes great with” and “customers also bought” can be a great way to add both value to their experience, while capitalizing on the baby boomer’s readiness to indulge.
Capturing your Target Audience
So overall, we know that Baby Boomers are veteran internet users that are ready to spend and connect with your brand. We know they prefer short articles and are brand loyal. We also know they are still the most likely to be influenced by traditional marketing.
How do you make sure you’re truly engaging a Baby Boomer then?
- Prove your worth by including valuable terms in your content, and make sure your promotions and products are clearly outlined above the fold on your website.
- Ensure that what you do choose to feature is clear-cut and clutter-free.
- Don’t forget to let them know you’re about service and quality by making yourself available.
- Email campaigns are a great way to stay top of mind for the digitally savvy baby boomer, but be aware that the content you’re providing them is concise and lends to their lifestyle.
- While receiving emails is great, the Baby Boomer might be the most inclined to just give you a call and connect with a real person.
Understanding the mindset, preferences, and buying influences of your target demographic can position you well for your next marketing campaign. Capturing a piece of the competitive baby boomer market, while tricky, can be worth the effort, considering their willingness to splurge on premium products.
Lucky for you, we specialize in streamlining marketing processes to capture a broad range of audiences. If you’re looking to reach a broader audience or hone in on a specific age group, Eden Advertising is your digital marketing partner with the expertise and track record to help you succeed.
Check out our blog next week for the next installment of our month-long Generational Marketing Series!