Could your marketing tactics be turning away an older yet lucrative market?
We’re talking about your grandparents if you’re a millennial or your parents if you’re a Gen X’r, who have retired from the workforce and are looking at rewarding themselves with the best things life has to offer.
With more disposable income, no financial obligations to their family and more spending power, baby boomers are so important to every business as they account for 50% of all consumer spending.
Based on the new population figures which Age UK published earlier this month, UK has more than 23.6 million people aged 50 years and over who make up a third of the total population in the country.
Tapping into this vast market isn’t as challenging as you think as Boomers are anything but tech dinosaurs; they browse the Internet, make purchases and even play games on their smartphones.
However, young online shoppers have certain practices which their older counterparts don’t do, hence the reason you need to tweak your marketing strategy.
Use Faceboook as a bridge
More than 80% of people over 50 years old use Facebook to stay informed, but they really couldn’t care less about other people’s opinions.
Reviews from customers, no matter how well written they are, won’t persuade them to buy a product.
They are, after all, the 60s hippies who went against the social norms to discover the intricacies of life.
A baby boomer will go directly to your website, read the description of an item which they are interested in, and then contact you to find out more about it.
Interact with them
Did you know that a lot of baby boomers worked in the advertising, marketing and banking sectors before they hung up their boots?
They communicated with their clients by phone or in person to discuss a project in hand, as email wasn’t invented yet.
That explains why they prefer to talk directly to salespeople than rely on what others have to say about a product.
Your spiel won’t go to waste as baby boomers have a longer attention span than your younger audience.
Appeal to their needs
Because they’re confident spenders, baby boomers won’t have second thoughts about purchasing the brand which they trust regardless of price.
They will gladly spend on expensive smart home devices that will make managing their everyday basic tasks easier, especially later on in life when they start experiencing the deterioration of aging.
Now, just because what you’re selling isn’t intended for them, say skateboards or scooters, doesn’t mean they won’t buy it.
A 65-year-old woman who sees a scooter website, for example, will check out its products in hopes of finding something her grandson or granddaughter will like.
Selfless and generous are two noticeable traits of older folks, which stem from their desire to make the people that matter to them happy and part of their leisure experiences.
Knowing that will enable you to create a marketing campaign which appreciates a baby boomer’s zest for life and, ultimately, begin lifelong relationships with them.
How do you engage consumers who are beyond 50 years old?
We hope to hear from you in the comments below.
As always, to your continued success,
Dave & Matt