This document discusses marketing strategies for reaching baby boomers and seniors aged 50+. It begins by noting that boomers have a "forever young" mentality and outlines generational cohorts by birth years. The focus is on boomers and pre-boomers, who total 119 million Americans aged 50+. They are described as having significant spending power and outspending other generations. Their online habits, including time spent online and use of social media, are also discussed. The psychology of boomers emphasizes themes of turmoil, empowerment, altruism and maintaining aspirations of being "crazy, sexy, cool". The document concludes with recommendations to use aspirational imagery and digital marketing while avoiding stereotypes when marketing to boomers.

1. Marketing to
Boomers & Seniors:
Today’s 50+
Consumer
Shannon Ingram
President, GenAge Marketing
Co-Founder, BoomerReviews.com

2. “So come with me where dreams are born,
And time is never planned.
Just think of happy things
And your heart will fly on wings
Forever in Never Never Land”
~Peter Pan
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3. The Essence of the Boomer Mentality
A Forever Young Party
Animal
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4. Agenda
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•
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Generational Segmentation
Boomers & Pre-Boomers
Ageless Marketing
Exercise
Learn Something
Have Fun
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5. Generational Segmentation
• Generational Cohorts & Birth Years
– GI or Greatest Generation, 1901-1924
– Pre-Boomers or Silent Generation, 1925-1945
– Baby Boomers or Boomers, 1946-1964
– Gen X, 1965-1983
– Gen Y or Millennials, 1984-2004
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6. Our Focus:
Boomers
• Boomers & Pre-Boomers = 50+
• Pre-Boomers – 46 Million
– Children of Great Depression & WWII Parents
– Marriage is for Life
– Korean & Vietnam Wars
– Big-Band/Swing
– Common Values & Near-Absolute Truths
– Disciplined, Self-Sacrificing, Cautions
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7. Our Focus:
Boomers
• Baby Boomers – 73 Million
– Children of WWII & Korean War Parents
– Assassinations of JFK, MLK, RFK
– Space Program and Walk on the Moon
– Rock ‘n Roll
– First Divorce Generation
– Women’s Movement, Birth Control
– Self-centered “Me Generation”
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8. Market Size
• Approximately 119 Million Boomers & PreBoomers in US Today
• First time 50+ Age Group is Largest Percentage
of US Population
• By 2015, 50+ = 45% of US Population
• By 2030, 65+ will Double to 71.5 Million
Sources: Age Wave, AARP
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10. Wealth
• 55+ Controls More than ¾ US Wealth
• Boomer Median Income Today is 55% Greater
than Younger Gen X & Millennial
• 50+ Owns 65% of Aggregate Net Worth of All
US households
Sources: International Council of Shopping Centers,
US Government Consumer Expenditure Survey
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11. Spending Habits
• Outspend Other Generations by $400 Billion
per Year on Consumer Goods, Services
• Discretionary Purchase Decisions Include:
– Decreased sensitivity to price
– Increased sensitivity to affordability
– Sharply increased sensitivity to VALUE
Sources: US Consumer Expenditure Survey, Forrester
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12. Spending Habits
• 55-64 Age Group Currently Outspends
Average Consumer in Most Categories:
– Household furnishings
– Personal care
– Entertainment
– Gifts
Source: US Government Consumer Expenditure Survey
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13. Spending Habits
• Boomers Take Pride in the Appearance of
Their Homes
• 21% Report Spending More than $10K on
Home Improvements in the Past Year
• NAHB Predicts Aging in Place Remodeling to
be $20-$25 Billion – 10% of All Home
Improvement
Sources: Scarborough, National Association of Home Builders (NAHB)
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14. Granny Pods
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15. Spending Habits
• 96% Participate in Word-of-Mouth or Social
Proof Marketing
– Pass product or service info to friends
– Reading online reviews
Source: 3rd Age
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16. Online Habits
• The Internet’s Largest Constituency is 50+
• 2012 – Boomers Spent 27 hrs/week Online;
Millennials Spent 25 hrs/week
• 72% of Adults 55-65 Shop Online
• 47% of Adults 73+ Shop Online
Sources: Jupiter Research, Nielsen, Forrester
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17. Online Habits
• 89% of Adults 65+ Have Personal Email They
Check an Average of 5 times/week
• The Internet is the Most Important Source of
Info for 50+ Making Major Purchases such as:
– Automobiles
– Appliances
– Large Electronics
– Home Furnishings
Source: Nielsen
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18. Online Habits
• In 2011 Boomers Increased Use of Social
Media by 60%
• 82% Research Health & Wellness Online
• Top 4 online sites:
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Google
Facebook
Yahoo
YouTube
Sources: AARP, WSL Strategic Retail, Pew
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19. Psychology
• Unifying Turmoil – 60’s & Vietnam
• Self-Empowered Identity – Be the best you
can be…
• Altruism
• It’s Still “All About Me”
– McDonald’s 1974 & 2014
• From Young Moms to Grandmoms
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20. Psychology: CRAZY. Sexy. Cool.
• Crazy
– Denial
• Optimistic
• Challenging Aging Bodies
• Spending
– Increase in Marijuana Usage
• In 2012 for adults 50 to 54, the rate increased from
3.4% in 2002 to 7.2 % in 2012.
• Among those aged 55 to 59, the rate increased from
1.9% in 2002 to 6.6% in 2012.
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22. Psychology: Crazy. SEXY. Cool.
• Sexy
– Fitness
– Vitamins
– Topicals & Tablets for Everything
– Fashions
– Dating & Relationships
– We’re NOT stupid
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26. Psychology: Crazy. Sexy. COOL
• Trends still matter
– Refined Minimalism into Universal Design
– Talbot’s, Chico’s, Tommy Bahama
• Not stereotyped “old people”
• Keep working
• Still have aspirations, fun
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28. How to Succeed in
Marketing to Boomers…
DO
• Practice Ageless Marketing
• Use Aspirational Imagery
• Appeal to Crazy. Sexy. Cool.
• Have a Strong Digital
Footprint: Web Site, Social
Media, Advertising
• Use Email Campaigns
DON’T
• Position Your Product or
Service for Older
Consumers
• Use Pictures of ‘Old People’
in Your Communications
• Talk Down
• Underestimate Boomer
Value as Consumers
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29. Case Study:
OXO
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30. Case Study: Builders Appliance
Center
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31. Idiot Wind
“You’d have to be an idiot to turn your back on
this humongous growth market.”
~Jody Holtzman, AARP
To paraphrase Boomer Poet Laureate, Bob
Dylan, there’s an Idiot Wind blowing across
corporate America…
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32. Exercise
• Review Magazines
• Identify Best/Worst Ads and Discuss Why
• Create an Ad for a Liner:
– Use Aspirational Imagery
– Write Copy to Connect and Relate Boomers via
Emotion
– Decide on a Great Headline
– Identify Someone to Share
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33. Reading & Research
Books:
• Turning Silver into Gold:
How to Profit in the
New Boomer
Marketplace by Mary
Furlong
• Dot Boom: Marketing to
Baby Boomers by David
Weigelt
Web Sites:
GenAge Marketing
BoomerReviews.com
Vibrant Nation
Immersion Active
Huff/Post50
Next Avenue
Purple Clover
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34. Reading & Research
Reports:
• Nielsen “America’s Most Valuable Generation”
• E-marketer “Baby Boomers in the
Marketplace”
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35. Summary
• 73 Million Boomers + 48 Million Pre-Boomers
= 119 Million 50+
• Outspend other generations by $400B/year
• Average 27 hours/week online & Internet is
most important source for purchasing
decisions
• Crazy. Sexy. Cool.
• Practice Ageless Marketing for Success
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37. A DIVISION OF GENERA STRATEGIES