A lot of small businesses often have an idea of who consumes their product; and more often than not, it’s a young and “hip” person or a attractive family of four. Research does suggest that the West’s obsession with youth clearly influences our advertising and the standards we set in marketing. But today, in reaction to a conversation we recently had with a client we want to provide you with some insights into why the Baby Boomer is a powerful and wonderful target.
First off, who are the baby boomers? The baby boomers are the cohort born from 1946-1964; that is, sandwiched between the Silent generation and Generation X. They are a huge cohort, born as a result of the post world-war II baby boom. What made them so different was their rejection and redefinition of traditional values. But more importantly for us, baby boomers have aged very differently than their parents did; they are also wealthy, active and have comparably high disposable income.
So why should you not dismiss the boomers?
First off; there are a lot of baby boomers out there. By ignoring them, you’re ignoring a large part of the market.
Secondly; baby boomers are affluent. They’re better off than both their parents and their children. The truth is, a lot of small businesses want the young customer but the younger customer often does not have the spending power that the media would like you to think they have. In fact, research shows that baby boomers continually outspend millennials.
Thirdly, baby boomers are both healthy and active; and they’re redefining the golden years. They work longer, spend more, and they enjoy traveling, online shopping; and various experiences.
As always, we say this with the caveat that the most important thing is that your target audience resonates with your brand. We’re not suggesting you completely revamp your marketing strategy to target baby boomers when you sell skateboards for teenage boys (although don’t completely dismiss the skateboarding boomer).
But what we are saying is don't underestimate them. In our consulting sessions we too often see smaller brands who all want to go after the same target; the fashionable, young, unrealistically affluent city dweller. One, when everyone tries to market to the same person you’re fighting over a small sliver of the pie; two, really ask yourself why do you want this target? The truth is that your baby boomer customer, per the trends we’re seeing; will spend more and be more loyal to your brand than their younger counterparts.
Do you want to learn more about how to capture a share of the baby boomer’s heart? Contact us today for a complimentary consultation.