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In the rush to market to Gen Zers and millennials, baby boomers are sometimes added in as an afterthought in marketing plans. But this oversight only means you may be losing out on a potentially large and lucrative market. In just the United States alone, Pew Research Center shows that there are over 70 million people who fall under this category, making up 40% of the market share. Tap on this market to take advantage of the attractive opportunities it presents.
Baby boomers are the generation born right after World War II – between 1946 and 1964 – when the world was going through several political, economical and social changes. Having had to adapt to these changes, they are resilient, resourceful, hardworking and discerning about what they spend on.
Baby boomers are also a populous generation. Reports in Stastista shows that they make up a third of the population in the UK. Not only do they take up a large portion of the population, but they also have significant spending power and a large disposable income, having built a nest egg throughout their working years. This means that they are itching to enjoy the fruits of their labor. According to a study by AARP, a quarter of baby boomers are taking bucket list trips.
COVID-19 has also pushed more boomers to explore online shopping. According to a study by The Drum, online shopping has grown 5.7 times year-on-year in 2020, as compared to that of millennials which was 4.3 times. This generation are also especially prone to spending on bigger-ticket items like household appliances, healthcare, and wine. The propensity to spend combined with their spending power makes them a particularly attractive target market brands should consider.
A study by Digital Trends revealed that baby boomers are 19% more likely to share content than any other generation. Different social media platforms appeal to each generation in different ways. While Facebook was a foreign concept to the generation of baby boomers when it first launched almost two decades ago, trends have shifted since then. This means when performing market segmentation and creating relevant marketing campaigns, developing Facebook ad campaigns and shareable content for your Facebook page for this group of consumers is particularly important.
The one thing baby boomers are, is practical. They are keen on buying products that fulfill a functional need, instead of an emotional one. These frugal spenders are particular about where each dollar goes. Smart, savvy shoppers that see beyond attractive packaging or clever copy, they want to know if the product is good and what their benefits are. When writing product descriptions or creating Facebook content, for instance, ensure you list all the benefits so consumers can compare between product features and specifications to arrive at an informed decision.
There might be a tendency to stereotype baby boomers, focusing on their age or their retirement status. But baby boomers are working into their golden years, traveling widely and setting up start-ups – essentially seizing the day. Be careful about treating them as if they were past their prime. Instead of being condescending or placating in how you craft content, focus rather on creating uplifting, inclusive content.
L’Oréal’s Age Perfect advertising campaign tackles society's obsession with youth head-on – and is a great example of how to speak to the baby boomer market. In a partnership with British Vogue, it has created content targeting women over fifty and feature brand ambassadors like Jane Fonda and Dame Helen Mirren. In-depth interviews with these famous actresses have them sharing about fitness, fashion, travel and technology – in a way others from the same generation can relate. Where other brands overlook this generation, L’Oréal shines the spotlight on them, making them feel seen and heard. The brand boldly challenged society’s expectations around beauty, garnering the favor of the boomer market.
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