Are You Missing 70% of Your Market?

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Baby Boomers account for the majority of wealth and disposable income in the US; yet most marketers overlook them in favor of the "typical" target of 18-49 Adults.

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Are You Missing 70% of Your Market?

  1. 1. Are you missing 70% of your market? What your Social, Online, or Traditional Advertising & Marketing strategy might have left out …
  2. 2. Successful marketing reaches your audience with the right message. Most advertisers target their marketing and message to Adults 18-49
  3. 3. Who are you targeting?
  4. 4. Who are you targeting? Are you sure that’s your best customer?
  5. 5. There is a famous line from the movie All The President’s Men …
  6. 6. There is a famous line from the movie All The President’s Men … “Follow the money.”
  7. 7. Baby Boomers spend close to 50 percent of all CPG* dollars. Source: Neilsen/BoomAgers 2012 Report *Consumer Packaged Goods.
  8. 8. Baby Boomers spend close to 50 percent of all CPG* dollars. Yet less than 5 percent of advertising is directed to them. Source: Neilsen/BoomAgers 2012 Report *Consumer Packaged Goods.
  9. 9. That would be called leaving the “low hanging fruit.”
  10. 10. That would be called leaving the “low hanging fruit.” That could also be called missing a big opportunity.
  11. 11. Baby Boomers make up 44% of the population, but have 70% of the disposable income. Source: Forrester Research, November 2011
  12. 12. Baby Boomers make up 44% of the population, but have 70% of the disposable income. Who are you targeting? Source: Forrester Research, November 2011
  13. 13. Source: Neilsen/BoomAgers 2012 Report Older Boomers (age 56-66), spend more online than any other generation.
  14. 14. Source: Neilsen/BoomAgers 2012 Report Older Boomers (age 56-66), spend more online than any other generation. Younger Boomers (age 46-55), were the next biggest online spenders.
  15. 15. The only age group with LESS disposable income than Adults 25-34, are Adults 65+. Source: GIS Consortium, 2012
  16. 16. Source: GIS Consortium, 2012 Average disposable income for 35-64 Adults is double Adults 35 and under
  17. 17. Source: GIS Consortium, 2012 Average disposable income for 35-64 Adults is double Adults 35 and under Are you sure your product or service is just for 18-34 Adults?
  18. 18. Millennials are characterized as being close with their parents.
  19. 19. Millennials are characterized as being close with their parents. So even if your product or service is for <35 Adults it’s likely the customer will seek parent input (for all but the smallest purchases).
  20. 20. Are you designing your message to reach tech savvy 18-34 Adults?
  21. 21. Internet users over the age of 50 are driving the growth of social networking. Source: Neilsen/BoomAgers 2012 Report
  22. 22. Internet users over the age of 50 are driving the growth of social networking. Source: Neilsen/BoomAgers 2012 Report 53% of Boomers are on Facebook. Their usage of the social net has doubled in the last year. That means there’s a large group of Boomer Facebook newbies.
  23. 23. Isn’t my message reaching everyone, even Boomers?
  24. 24. Isn’t my message reaching everyone, even Boomers? Is it?
  25. 25. Not-so-random fact: 41% of Apple computer customers are Boomers. Source: Neilsen/BoomAgers 2012 Report
  26. 26. Not-so-random fact: 41% of Apple computer customers are Boomers. Boomers want clean, easy, and a low learning curve. Is your message delivered clean and easy? Source: Neilsen/BoomAgers 2012 Report
  27. 27. Another not-so-random fact: After age 50, almost 100% of adults need vision correction Source: National Library of Medicine/ ABC News
  28. 28. Another not-so-random fact: After age 50, almost 100% of adults need vision correction Boomers’ vision is not the same – even after correction – as adults under 40. Source: National Library of Medicine/ ABC News
  29. 29. The verdict after 100,000 web site usability tests? Source: Moz.com/5 Lessons from 100,000 Usability Tests/2013
  30. 30. The verdict after 100,000 web site usability tests? Source: Moz.com/5 Lessons from 100,000 Usability Tests/2013 • Avoid multi-level navigation It may look cool – but it’s hard for any user to use – not just Boomers.
  31. 31. The verdict after 100,000 web site usability tests? Source: Moz.com/5 Lessons from 100,000 Usability Tests/2013 • Avoid multi-level navigation It may look cool – but it’s hard for any user to use – not just Boomers. • Links should look like links The text should be colored different from surrounding text AND underlined.
  32. 32. The verdict after 100,000 web site usability tests? Source: Moz.com/5 Lessons from 100,000 Usability Tests/2013 • Avoid multi-level navigation It may look cool – but it’s hard for any user to use – not just Boomers. • Links should look like links The text should be colored different from surrounding text AND underlined. • Make stuff easy to find Whether it’s via your internal search function – or through logical categorization – link the same information under two categories if you have to.
  33. 33. Is there an easy way to know if my message is “Boomer-friendly?”
  34. 34. Do you know what a “Charlie” computer is? Is there an easy way to know if my message is “Boomer-friendly?”
  35. 35. Do you know what a “Charlie” computer is? A “Charlie” computer is an older computer, running an older operating system, connected to the Internet with DSL speed … Large online sites use it to check for load times and compatibility. Is there an easy way to know if my message is “Boomer-friendly?”
  36. 36. Find a couple human equivalents of the “Charlie” computer: adults in their late 50’s to mid 60’s.
  37. 37. Find a couple human equivalents of the “Charlie” computer: adults in their late 50’s to mid 60’s. Relatives are a great source for this. Seriously.
  38. 38. Find a couple human equivalents of the “Charlie” computer: adults in their late 50’s to mid 60’s. Relatives are a great source for this. Seriously. Watch them complete a few tasks, such as linking on your ad to buy your product, and listen to what questions they have.
  39. 39. I can personally attest to the time my own Mother previewed my new website, asked a question I thought was irrelevant, and it came back to haunt me.
  40. 40. I can personally attest to the time my own Mother previewed my new website, asked a question I thought was irrelevant, and it came back to haunt me. Yes, Mothers are usually right.
  41. 41. By 2017 over the US population will be over 50. Source: Neilsen/BoomAgers 2012 Report
  42. 42. By 2017 over the US population will be over 50. Source: Neilsen/BoomAgers 2012 Report Between now and 2030, the 18-49 segment is expected to grow +12%, while the 50+ segment will expand +34%.
  43. 43. Besides clean and easily visible – what else can I do to improve sales to Boomers?
  44. 44. Besides clean and easily visible – what else can I do to improve sales to Boomers? Make it easy.
  45. 45. Easier said than done? Here are a few quick examples:
  46. 46. • Feature “Tips for New Visitors to our Site” Be sure it’s easy to find – and not buried inside FAQs. Easier said than done? Here are a few quick examples:
  47. 47. • Feature “Tips for New Visitors to our Site” Be sure it’s easy to find – and not buried inside FAQs. Easier said than done? • Focus on your blog Hint: They’re easy to use, personal, and – hopefully – informative. … It’s no wonder their growth and usage is exploding. Here are a few quick examples:
  48. 48. • Feature “Tips for New Visitors to our Site” Be sure it’s easy to find – and not buried inside FAQs. Easier said than done? • Focus on your blog Hint: They’re easy to use, personal, and – hopefully – informative. … It’s no wonder their growth and usage is exploding. Here are a few quick examples: • Use traditional advertising to supplement your online offer Boomers are still large consumers of traditional newspaper and TV advertising. Find a good rep who can show you affordable ways to reach them.
  49. 49. • Feature “Tips for New Visitors to our Site” Be sure it’s easy to find – and not buried inside FAQs. Easier said than done? • Focus on your blog Hint: They’re easy to use, personal, and – hopefully – informative. … It’s no wonder their growth and usage is exploding. Here are a few quick examples: • Use traditional advertising to supplement your online offer Boomers are still large consumers of traditional newspaper and TV advertising. Find a good rep who can show you affordable ways to reach them. • Offer a “need help?” contact Requests for help should be answered at least two – preferably four or more – times a day.
  50. 50. In summary … • Follow the money Boomers can be price shoppers – but they shop online and offline more than any other age group. • Make sure your social media addresses newbies Social media growth is coming from Boomer social net adoption. • Use traditional advertising to supplement your online efforts Boomers are still large consumers of traditional newspaper and TV advertising. Find a good rep who can show you affordable ways to reach them. • Test your marketing on a Boomer Watch and listen to learn, then apply changes if needed. This is also the chance to show your Aunt or a friend’s Parent what you do. • Keep it simple Isn’t this true with all marketing?
  51. 51. This presentation is meant to be only a starting point Here are a few resources to learn more: • Neilsen: Marketing’s Most Valuable Generation http://www.nielsen.com/us/en/reports/2012/introducing-boomers--marketing-s-most-valuable-generation.html • Huffington Post: Boomer Marketing Report Card http://www.huffingtonpost.com/2012/05/17/boomer-marketing_n_1516551.html • Bloomberg: Aging Boomers Befuddle Marketers http://www.bloomberg.com/news/2013-09-17/aging-boomers-befuddle-marketers-eying-15-trillion-prize.html (Be sure to check out the Infographic)
  52. 52. I’d like to hear about your experiences marketing to Boomers!
  53. 53. Sandy Glantz Advertising & Marketing Professional, Consulting/Freelance: Media, Web, Mobile, Social Marketing Strategist www.linkedin.com/in/sandyglantz/ I’d like to hear about your experiences marketing to Boomers! Connect with me on LinkedIn:

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