Baby Boomers have a very large disposable income. We help you tap into Boomers spending habits by understanding what makes them tick – how and what they buy, the social platforms they use, and why they should buy from you.
After reading our “Know your customer” and “Introduction to Generational Marketing“, you will have seen the importance of customer segmentation and age group analysis, to achieve the best sales and return on your marketing budget. This article is a detailed look at age-relevant marketing for the Boomer generation to maximise your conversions.
Who are Baby Boomers?
Baby Boomers were born between 1944 – 1964.
Today, some are retired grandparents. They have money to spend, but they also want to protect their wealth. Others may still be working, consulting or own a business.
They believed in success and hard work. This was their measure of achievement and self-worth. To get there, they worked hard, built up assets, and have 70% of the disposable income in the US – which they spend.
As many companies only spend 10% of their marketing budget on Boomers, you can jump right in.
Do not make the mistake of stereotyping this group. Boomers can be fit, young for their age, not that set in their ways, and they’re much more tech-savvy than you think!
How do Boomers think?
- As they are independent thinkers, they want their ideas to matter to you – a sense of being important.
- They like to feel that your company sees them as important to your business.
- They value education for themselves and their family, especially grandchildren.
- They are very appreciative of personal service, personal customisation, and flexible choices.
- Equal rights, equal opportunities and personal growth are core values.
- They want an in-depth explanation of your product or service so be prepared to answer questions thoroughly and present comprehensive details. Consider great FAQ’s on your website.
- They want to know the value of your service – how it will make their lives easier – without feeling pushed.
- Good manners are a must.
- Don’t call them old!
Talking to Boomers
- Boomers want content that is well written with no slang or hashtags.
- The language must not be manipulative or controlling.
- Craft your message with an open, direct and transparent style.
- This group appreciates both traditional marketing and 21st Century marketing.
- They do respond to nostalgia but don’t overdo it.
- Boomers consume a lot of content, so content marketing will be effective but posts should not be longer than 300 words.
- Email is also an effective marketing tool as this demographic not only likes email but has the time to read them.
- Direct mail. Boomers are more likely to respond to direct mail campaigns than any other generation. If you are reaching this demographic, don’t be afraid to give it a try.
So, what do Boomers buy?
Boomers want to splurge on themselves and their families – make day to day living easier, have fun and enjoy the better things in life. Time is short!
Boomers look for any amenities or services that make daily life easier, more comfortable or interesting. Many Boomers have the money to spend on entertainment and recreational options to fill their hours of leisure time.
Travel features heavily, so products that make travel easier go down well. They even spoil themselves when food shopping – organic healthy foods, good wine, cheese, imported chocolates, and other luxury items appeal. Health and fitness are high on the agenda, as are medical products.
This generation even spends the most on technology—everything from premium cable to the latest smartphone. Technology that is easy to use.
They are also interested in preserving their wealth so are actively involved in investment management.
Boomers buy products and services for others too. Boomers love to invest in educational products and services, especially for their grandchildren. Many Boomers have taken on the role of primary caregivers of their grandchildren, so, parent or child-focused products can benefit from Boomer-targeted advertising!
Remember, many Boomers have not retired and do not even like the idea, but they are also looking for products to improve their lifestyle, which is now more balanced between work and play.
What grabs the attention of a Boomer when making a purchasing decision?
- Products that look expensive at bargain prices.
- Good value for money offers and sales.
- Up-Sell – Great way to increase both sales and Boomer perception of value for money without being pushy.
- Top-shelf products – Boomers are more likely to be okay with splurging on themselves in retirement.
- Cash-Back – If Boomers are spending considerable money at your business, cash-back programs have a good appeal.
- Personal Touch – Boomers tend to want to talk to a real person before they make a purchase – but don’t call during dinner!
- Customer service and flexible product options are a must.
How do Boomers buy?
Today, Boomers aren’t afraid of online shopping. In fact, “66% of people over 50 in the United States routinely make purchases from online retailers.” According to eMarketer, “the majority of baby boomers now own smartphones.” These phones are used to shop, research and buy online. Boomers are more likely to complete a credit card purchase once on your site, than any other age group.
Although they regularly research and buy products online, Boomers by far prefer the personal engagement of traditional stores when making actual purchases. At 84 percent, Boomers were highest amongst all survey groups in expressing their preference to shop in-store, and 67 percent report that if an item they want is available online or in a nearby store, they prefer to purchase it at their local retailer rather than order online.
Boomers place immense value in brands based on their interactions with retail sales staff (associates), and retailers can capitalize on this by ensuring that knowledgeable staff are available to help customers choose the correct product. In the US, staff have tablets with software that has all the information on products at the push of a button. They call this sales tool clienteling.
When it comes to social influence, Boomers are more selective on what sources they trust for brand recommendations. Although 82 percent of Boomers are on social media, they are still unlikely to use the platform as an influence on their shopping habits, and only 12 percent of Boomers say they look to friends and family for advice on their purchases. Instead, Boomers are twice as likely as the younger generations to have their interest sparked by the reported popularity of a brand when purchasing a new or unfamiliar product. Star ratings and reviews are used to indicate popularity and trust.
Which social media channels do Boomers use?
Boomers are on social media, big time. You can see from the Statistica 2019 stats below that Twitter, Instagram, and Snapchat are not the primary channels for Boomers. The largest Boomer audience on social media is Facebook.
To see all the social media demographics like income, education, country of residence, see Sprout Social’s article click here
Wrap Up
Boomers are worth your marketing budget if your products suit them. Marketing to Boomers is easier in that it is a less congested advertising space.
They value integrity, quality service, and support when troubleshooting. They want detailed product information and usually have plenty of questions so be prepared with well written FAQ’s.
They enjoy personalisation in the forms of flexible options, face to face interactions, phone calls, and great in-store service by sales staff, to find exactly the right product.
You can count on their loyalty if you deliver what they were expecting, even better if you over-deliver.
Knowing these key characteristics about Boomers will help you message and convince them that yours is the company for them! To find out more about the likes and dislikes of your target age groups, read our articles on Generation X (link), Generation Y – Millennials (link) and Generation Z (link).
