Boomers are booming more than ever. Did you know they now hold 80% of the nation’s wealth and most of its disposable income? Did you know that only 10% of the nation’s marketing dollars are being spent to reach them? Are you in charge of some of those misdirected dollars? If so, it’s time for that to change.
Conventional wisdom has said that older people are stuck in their ways and, therefore, there was no point in advertising to them. Phooey, those days are WAY over. Boomers have shattered that tired old demographic model of always targeting ages 18-49.
These days, boomers are buying more technology than younger people. They have more money. They buy expensive wine, pricey new cars, airplane tickets, high-end apparel, and so much more. Boomers are the biggest consumers of health care. They also spend a lot on products to keep themselves looking healthy and vibrant: exercise gear, hair color, makeup and cosmetic procedures from tooth whitening to tummy tucks. Heck, look around. You’ll see more boomers in first class on your next airline flight than young, hip business people by far.
So why do you have only young, hip guys working on your ad team? It’s because your ad agency can get away with paying them less than boomers, not because they do better ads or understand your largest consumer better. Because they don’t. It’s about their bottom line, not yours.
For YOUR bottom line, you need to target boomers. And you need a boomer team working on your business. Because the people who create your advertising need to fully represent the targets you seek. If they don’t, you’ll miss out on the huge number of consumer dollars boomers control.