This document discusses marketing strategies for donors over 50 years old. It notes that this age group controls 75% of financial assets in the US and is responsible for around half of consumer spending, yet receives only 5% of advertising. While this group is economically dominant, Forbes argues they are the "most neglected" in marketing. The document examines which channels like email, direct mail, and social media are best for reaching donors over 50 and notes this group is increasingly using the internet and downsizing their homes. It provides data on fundraising returns on investment by channel for a nonprofit from 2007 to 2013.
1. An Integrated Strategy
for Donors over 50
Jacqui Groseth
@JGroseth
Union Rescue Mission
Eric Pratum
@EricPratum
Grizzard Communications Group
#Bridge14
2. Nielsen calls them "The most valuable generation in
the history of marketing."
Forbes calls them "The most neglected wealthy
people in the history of marketing.”
3. 55-64 year olds most likely to provide positive
marketing campaign ROI.
In 2007, 35-44 year olds made more purchasing
decisions than younger groups.
Current least likely group to purchase a car – 18-24
year olds.
20 year olds are 15x less likely to buy cars than 55-64
year olds.
Source: http://deepblue.lib.umich.edu/handle/2027.42/97760
4. 75% of US financial assets are controlled by those
over 50.
7. They account for 55% of consumer packaged goods
sales and dominate 94% of CPG categories.
Younger boomers outspend younger adults in every
major category.
14. Baby boomers are the Internet’s largest constituency
So the question is, if people over 50 are so
economically dominant, how can it be that, as
Forbes says, they are "the most neglected wealthy
people in the history of marketing”?
42. Don’t forget to visit the
Solutions Showcase!
Many of the ideas discussed today are on display at the
Solutions Showcase!
#Bridge14
Contact:
Jacqui Groseth
JGroseth@URM.org
Eric Pratum
Eric.Pratum@Grizzard.com
Editor's Notes
Questions:
Average donor age.
How many of you feel you need to spend more to recruit younger donors?
Everyone has heard this argument – “If we could hook them when they’re young, we can build even great loyalty while also having a longer giving period.”
Source – http://www.slideshare.net/vivastream/nielsen-dont-ignore-boomers-the-most-valuable-generation-report & https://www.youtube.com/watch?v=EyTn_DgfcFE
They purchase 60% of all new cars.
They have income 55% higher.
They spend $650/month more on technology.
Source: Yahoo.
Between now and 2030, this group will grow at 3x the rate of those under 50.
Yet, almost all digital and mobile fundraising is focused on the young.
Astoundingly, they are the target for 5% of all advertising.
Baby boomers are the Internet’s largest constituency
So the question is, if people over 50 are so economically dominant, how can it be that, as Forbes says, they are "the most neglected wealthy people in the history of marketing”?
Source: http://www.typeagroup.com/2013/04/the-most-valuable-generation-in-history.html#more
There are a number of fictitious beliefs that drive this.
Source: http://www.typeagroup.com/2013/04/the-most-valuable-generation-in-history.html#more
People over 50 are too brand loyal to convert.
People over 50 are downsizing.
There is a lifetime value in targeting young people.