The news that the first baby boomer has filed for social security benefits and a recent birthday reminded me that I hadn’t told you about one of the seminars from this past Florida Governor’s Conference.
In the seminar we learned several key points – first and foremost that we shouldn’t mix up boomers and seniors. Today’s boomers do not match yesterday’s preconceptions about “old people”.
Boomers are not all uniformly one type with only one set of needs. They may be active, they may be raising their grandchildren, they are in most cases still working (some part time) and they are more health conscious. They feel younger than their actual age.
However, there are some key shared experiences like the influences of being the first television-raised kids and Dr. Spock; and some generational traits like optimism, not blinding accepting the status quo, and being interested in the environment.
The best way to market to them is not by age segment but by lifestyle (or life stage) as the one-size fits all approach may not be relevant.
More importantly, this is a growing market. Over the next ten years, this segment (those born between 1946 and 1964) will experience a 23% growth as a percentage of the population. This will represent some 78 million people.
So, be careful what you call them and of your imagery. This market segment wants to do things to stay vital (the mental fitness craze, looking for spas in hotels). Make sure your messages have feeling to reach their inner needs.
What percentage of your business are boomers? Have you done an audit lately? Look at your products and services – what will appeal to this market? Review your marketing materials (brochures, advertising, etc.) – does this segment get the experience that you offer?
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