Marketing to the Baby Boomer generation is going to become more and more prevalent starting now! Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years.
On March 8, 2012 we welcomed Deborah Coleman, the general sales manager of the After 55 Housing & Resource Guide and SeniorOutlook.com, a division of For Rent Media Solutions. Deborah Coleman demonstrates a knack for marketing to the senior community and continues to be the driving force in creating and cultivating strong relationships within the senior industry.
Deborah has served as director on the SEFAA board for several years as well as the associate vice president of the Florida Apartment Association Board for two years, co-chairing their annual Educational Conference. She has a keen understanding of the senior market and continues to provide complete and cost-effective marketing marketing solutions for the aging community.
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HRAMA: BOOMERS! Engaging the Over 55 Market
1. Boomers and Beyond
Presented by Deborah Coleman
General Sales Manager
After 55 Housing & Resource Guide
2. Every
7 seconds
a Baby Boomer turns 50 years old
which means
every day another
10,000
Boomers turn 50 years old.
3. “If Boomers were a nation
unto themselves (all 78
million), they would be
the 16th most populous
country in the world, just
behind Egypt and ahead
of countries including
France, the United
Kingdom, Italy, Iran,
Turkey, Spain, and
Canada.”
Source: CNBC
5. The Coveted Demographic
135.1 135.9
18-49 +1%
million million
111.3
89.3
50+ +25% million
million
2006 2016
Source: Boomer Project Analysis of US Census Data.
6. Misconceptions
• Old
• Dependent on others
• Very frugal
• Take a nap at 1:00pm
• Require walkers and wheel chairs
• Are less active
• Are bad drivers
• They are frail
7. Confusion
Society is very confused about the aging
population in regard to “old”, “senior” and “boomer”.
• 50 years old = Eligible for AARP
• 55 years old = Eligible for “senior discounts”
• 1/2 price coffee at Burger King
• 10% discount at Ross on Tuesdays
• 6O years old = Eligible for more “senior discounts”
• 10% off meal at Sizzler
• 62 years old = Eligible to collect Social Security early
• Up to a 15% discount at Marriot Hotels
• 65 years old = Eligible to collect Social Security
8. Age is not a number
any longer.
It’s a state of mind!
10. Statistics On Net Worth By Age
The age group 45 and older own 82.6% of ALL the U.S. NET
WORTH, or 41.5 TRILLION dollars.
Age Net Worth % Of Total
In $ Trillions U.S. Net Worth
Under 35 1.8 3.60%
35-44 6.9 13.70%
45-54 12.7 25.20%
55-64 14.4 28.60%
65-74 8.1 16.20%
75 and older 6.3 12.60%
Source: Federal Reserve
11. Workforce
50 and Over
Retiring
Working
Retire
0% 20% 40% 60% 80% 100%
12. Spending Habits
• By 2010, total spending for 50+ households
increased by $900 billion.
• This group has $2.3 trillion in disposable
income.
• By 2010, 45+ outspent younger adults by $1
trillion annually.
13. What Boomers Want Out of Life
• Boomers want life-long learning
• They want more time
• Boomers want “experiences” vs “things”
• Boomers want special treatment and feel
entitled to it
• “Me Generation” mentality
14. What Boomers Want Out of Marketing
• Boomers want to be understood
• Boomers want a shopping/buying
experience that is a success
• Boomers want information on new options
and choices
• Boomers want value
• Boomers want attention, respect and good
manners
18. Marketing to 50+ Audience
• Larger Font
• Font Type
• Contrasting Colors
• Simplicity
• Lifestyle Photos
• Show and Tell
• Strong Call to Action
19. Internet Statistics
• Fastest growing segment on the Internet
• 2/3 of Americans age 50-64 use the Internet.1
• 14 million seniors aged 65 and older are online.2
• 72% of Baby Boomers have broadband Internet in their
homes.3
• E-mail is the most popular online activity among 50+ users,
followed by web browsing, research, and shopping.3
• Retired seniors go online an average of 15.9 days a month,
more than any other group in the U.S. They also click twice as
many banners as students do - 3 compared with the average
of 1.5.4
• Seniors are the most affluent consumer group that exists and
are 30% more likely to purchase online than younger users.5
Source: 1SeniorNet; 2Harris Poll; 3ThirdAge and JWT Boom; 4Net Value; 5SoldonSeniors.Inc
20. Internet Statistics
• The Internet is the most important source of information for
Baby Boomers when they make a major marketing purchase,
such as automobiles or appliances (Zoomerang).
• Adults 50+ spend an average of $7 billion online annually
(SeniorNet).
• 92% of seniors shop online and 78% make online purchases
(SeniorNet).
• 71% will use the internet for new home research
(theboomerblog.com).
• 92% of ThirdAgers visit an online website after they’ve read
about in a print article and 89% typically visit a website after
seeing a print ad (ThirdAge).