Who Are Baby Boomers?
Baby Boomers is the demographic cohort that succeeds the Silent Generation and constitutes people born between the mid-1940s and mid-1960s.
There was a hike in births after World War II ended for 19 years owing to several economic and cultural factors. The phenomenon is termed ‘the baby boom’ hence the generation was named as ‘Baby Boomers.’
The people of this generation are from different walks of life. They are raised in different family types, socio-economic backgrounds, living situations, value systems, political and religious affiliations, educational levels, etc. Every aspect of human behaviour and cultural diversity can be found in this generation.
Who Belong To Baby Boomers & Why Does It Matter?
According to Beresford Research, Baby Boomers were born between 1946- 1964. They proceed the generation X and are typically the offsprings of the Silent and Greatest generations.
The Baby Boomer generation makes up a massive 21.45% share of the total US population, forming the second-largest faction after Millennials.
Moreover, the Boomers are wealthy people holding a huge chunk of disposable income and spending $548 billion a year.
Therefore their massive numbers and purchasing power make them an economically influential generation. The fact that they are the most extended living generation further amplifies their presence in the market.
Characteristics of Baby Boomers
Generation Before Baby Boomers
Silent Generation
Baby Boomers Years
1946 - 1964
Generation After Baby Boomers
Generation X
Independent
Baby Boomers are independent and self-reliant. They have grown up in the era of reform and are deeply inspired by it. They are confident in their skills and believe in their ability to change. They acknowledge their duty as an individual and fulfil their share of responsibility.
They are uncompromising and vigilant. They question everything and want to be well informed about everything. They are upfront and challenge the conventional practices if it doesn’t align with their mindset.
Value Relationships
One of their defining characteristics is their strong emphasis on relationships and personal connections. This is reflected in their attitudes towards family, friends, and community, as well as their consumer behavior.
They are more likely to-
- Stick with brands that they have a personal connection with, rather than constantly seeking out new options.
- Place a lot of weight on the opinions and recommendations of their friends and family
- Respond well to emotional appeals in advertising and marketing.
Competitive
Baby Boomers were born when the birth rates spiked sharply. Therefore they have been competing since childhood. Baby Boomers always love to lead. They depend highly upon their skills to compete and surpass their fellow peers and colleagues and be at the top.
In a way, they are fashioned to compete for resources and win. They associate their performance with their self-worth and continuously strive to get ahead.
Hardworking
Baby Boomers have struggled to get an education and enter a stable profession; therefore, they value their careers and stay committed.
People belonging to this generation are extremely hardworking and put in their earnest efforts to complete their jobs. They dedicate a lot of time and effort to their careers and are famous as the workaholic generation.
Value Excellence And Quality
Baby Boomers evolved after wartime, in a period of revolution. Therefore, they embraced the new political conditions and accepted a changed lifestyle.
Therefore, they look for excellence in the quality of goods and services. They will only pledge their money to something genuine and worthy.
Goal Getters
Baby Boomers are characterised by reliance and confidence. They are eager to set goals for themselves and accomplish them. They are always ready for new challenges and exciting opportunities to make a difference
Therefore they are goal-centric and focus their efforts on achieving.
Marketing To The Baby Boomers
Data from the US Census Bureau show 76.4 million baby boomers with a purchasing power of $2.6 trillion. Therefore the generation is essential because of its sheer size and relative prosperity.
This generation has had the maximum time to accumulate wealth and is entering the post-career phase of their lives, making it necessary for entrepreneurs, marketers, product and service developers, and strategists to understand their demands. Here are a few tips to help you build products and market them to the Baby Boomers.
Creating A Product For Baby Boomers
Baby boomers have set the world into motion. So it is necessary for entrepreneurs to understand this generation in order to target them successfully.
Baby Boomers are demanding, but they would only spend on something that is worthy of their time and money. A product or service needs proper attention if you want its sales figures to rise among baby boomers.
Therefore, a product should provide a solution to the problems affecting the baby boomers. It should have a consistent quality and not be very expensive.
They look for useful information
Baby Boomers hunt for useful information like product manufacturing, ingredients, mode of delivery, years of service, ratings, etc., if any, to comprehend the worth of the product or service to be offered.
They love pleasant experiences
Baby Boomers rate their experiences highly. Anything that makes them feel valued, secure, and acknowledged hooks them.
They crave customisation
Baby Boomers are the ‘me’ generation. They like things their way and prefer products and services that cater to their particular aspiration.
Marketing The Product To The Baby Boomers
Target Them Online
Baby Boomers have grown up with technology evolving over decades. Therefore they are more adaptable to changes than other generations.
According to a survey by Google, the internet is an everyday part of Boomers’ lives, and they access it for gathering information on topics that interest them. On average, a Boomer spends 19 hours a week online, which is greater than watching tv.
Boomers have evolved with the digital ecosystem. Moreover, a study by DMN3 shows that Boomers’ top three online activities include using search engines, using emails, and shopping for products and services.
Therefore, businesses should strive to reach out to Boomers by establishing an online presence through reviews, feedback, and building a brand image. Email marketing can also be adopted to market the offerings to them.
On average, a Boomer spends 19 hours a week online, which is greater than watching tv.
Use Social Media
Baby Boomers don’t use social media is undoubtedly a myth. According to Statista, the Baby Boomers in the US actively use YouTube, Facebook, Pinterest, LinkedIn, and Instagram.
Furthermore, research by Google shows that 82% of viewers above the age of 45 prefer watching YouTube for entertainment and informational videos. The survey also shows that Facebook is the top social media site used by Baby Boomers owing to its familiarity and trust quotient.
Therefore, businesses can engage Baby Boomers by creating and uploading compelling videos on Youtube that cater to their aspirations and value their independence. Since Boomers are competitive, some giveaways, bonus points, premium packs, limited offers, etc., can be devised and floated on Facebook to get their attention as well.
Baby Boomers don’t use social media is undoubtedly a myth.
Keep It Simple
Baby Boomers look for genuine experiences and value excellence in the quality of goods they purchase. They are straightforward and are not in a position to comprehend word plays and slang to dig in for the actual meaning behind the marketing campaign. Any misinformation or pun may portray the brand’s insincerity and detaches them completely.
Therefore the language used should be easy and simple to understand. Information should be accessible using clear-cut demarcations, bullet points, and proper formatting. It is a way to clear all their apprehensions and justify their purchase decisions.
Baby Boomers look for genuine experiences and value excellence in the quality of goods they purchase.
Be Informative
Unlike millennials, Boomers don’t make purchases impulsively on a whim. They take their time to read through the finer details and understand the nitty-gritty of the product.
Defining the product details, authority contacts, email supports, customer care, etc., helps the brand communicate its worth and build trust in the Boomers.
Therefore, businesses should provide maximum helpful information to them. Feeding this information is essential for building a user experience and facilitating their purchase decisions. The brands should understand the demographic’s concerns and provide all the information that answers their questions. The information supplied should be more like reasons convincing them of the offering’s worth.
Unlike millennials, Boomers don’t make purchases impulsively on a whim. They take their time to read through the finer details and understand the nitty-gritty of the product.
Make Them Feel Young
Baby Boomers are aged between 57-75 years at present. At this age, although they are getting older, they still want to live young. They want to live to the fullest and look out for fun experiences.
They perceive themselves to be younger, and marketers should exactly empower this perception. Therefore, while targeting this particular segment, brands should not regard them as older and portray their age as a constraint to achieving what they want. Thus, the marketing efforts should be inclusive and acknowledge their valuable presence as the healthy, cheerful lot.
Baby Boomers perceive themselves to be younger, and marketers should exactly empower this perception.
Create A Pleasant Purchasing Experience
Baby Boomers liked to be valued as a customer. Building an experience around the boomers right from the start is essential. The overall aesthetic appeal, choice of colours, fonts, and images to be used should suit their preferences and make them feel secure.
Besides, exemplary customer service, feedback mechanism, ease of learning about the product, availability and reach of the product and convenience offered play a huge role in moulding their mindset in favour of the brand.
In addition, the generation can be lured by attractive deals, personalised discounts, special offers, customised purchase options etc. When the brand tailors its offerings to suit their preferences, it makes them feel valued and they prefer to stick to that brand for the long term.
Baby Boomers liked to be valued as a customer. Building an experience around the boomers right from the start is essential.