Three Hot Topics for the Boomer Market

1. Boomers Continue to Learn

Boomers are life-long learners who continue to seek out quality educational and information resources and they will look for information on several areas of interest.  Boomers are heading back to school in large numbers to earn degrees or to upgrade or learn new skills. They also find and read how-to information on a variety of topics.

Boomers access information from both online and off-line sources and through courses and other educational and information products like never before. “Many feel that ongoing education enhances opportunities, provides a good insurance policy against obsolescence, and is one of the most positive ways to increase job security and achieve promotions” (Knable, 2006). 

Boomers are interested in a variety of educational topics. These range from financial planning education and services, ways to earn extra money or to start a small business, home-based business opportunities, or entrepreneurial ventures to name just a few areas.  Seminars, workshops and other face-to-face educational opportunities attract this audience.

2. Boomers Want Business Information

One of the areas of interest for Boomers is information on business start-ups. They want to use their years of experience to generate funds as a source of continued income or to be able to enjoy life with more relaxation.

Fresh ideas on innovative products or service creation are of interest to this market. A smart marketer will be ready to make necessary adjustments to personalize their offerings to Boomers. You can see that this is a distinctive group with its own needs. 

3. Boomers are Health Conscious

Staying intellectually active is necessary for overall boomer health. Reading, learning, and stretching the mind through intellectual pursuits is a way to keep the mind healthy and active. It also helps to prevent or delay the onset of mental deterioration. “A relative increase in the amount of time devoted to intellectual activities from early adulthood (ages 20 to 39) to mid-adulthood (ages 40 to 60) was associated with a significant decrease in the probability of having Alzheimer’s disease later in life” (Friedland, 2006).

 On the other hand, the overall health of the majority of Boomers is not what it should be. Many are overweight, or suffer from social diseases brought on by a bad diet and lack of exercise including diabetes, obesity, hypertension and similar diseases.  As the population ages, more business related to elder care will be desperately needed.

How to Market to Boomers

If you want start targeted the Baby Boomer consumer demographic in your marketing efforts and desire to develop a sustained customer base with Baby Boomers, show Boomers that you understand they are a savvy group of potential customers. When you advertise to this market group, show that you know what you are talking about and deliver a message that speaks Boomer language while addressing their interests. 

To market to Boomers means to know them. This group is young at heart and in their minds. They are sharp when it comes to technology (remember that the people who invented and pioneered the new technological concepts are now a part of the Boomer target group).  

Contrary to some popular beliefs, Boomers learn fast, think fast, and expect fast results and they are not afraid of the Internet! 

So What Marketing Message is Needed? 

To reach the Baby Boomer market, approach them with a marketing message that is honest, respectful, and sensitive to their needs.  According to the Focalyst research group, a study showed that “nearly half of the Baby Boom Generation believes there is little truth in advertising and more than 60% wish ads had more real information, suggesting that America’s advertising industry may be missing the mark in targeting the most affluent generation in U.S. History” (Advertisers fail, 2006). 

Give adequate information in your marketing to allow Boomers to make an informed decision on a topic. Review your advertising copy. Does it really give enough information to understand your product or service? Some advertisers want to be clever and end up confusing the consumer instead of making their message clear.  Baby Boomers do business with marketers who give clear, honest, informed messages about their product or service.  

Even large marketing firms make a major mistake when marketing to Boomers. Research found that “more than 70% (of Boomers) are less likely to buy a product if an ad offends them. More than 50% say there is little truth in advertising” (Advertisers fail, 2006). 

Learn to develop marketing messages that shows respect for the  diverse experiences and backgrounds of Baby Boomers.  Use techniquies that reach a market where diversity embraces differences in ethnic, cultural, gender, lifestyle, social, economic, and religious areas. Use language and a message that is sensitive and respectful to Boomer needs and desires in the market.

Build a Boomer Eager Business Reputation

If someone had a billion dollars and offered to give you some, would you take the time to build up the professional reputation needed to work with that person?  Well, that is what’s happening when it comes to the Baby Boomer consumer market.  This group is a billion-dollar market that is open and ready to work with Boomers and others that have the prodcuts and services they seek.

So how do you develop a good reputation with this market?  Here are five
tips to get you started.  

1. Never underestimate a Boomer. Develop a positive reputation by consistently presenting high-quality products that are desired and needed by this market.   

2. Develop trust by producing and delivering what you say you will; in fact, over-deliver on your promises as much as possible.   

3. Never resort to hype or lies in your marketing message.  Expect Boomers to print out your sales letter and look for the points you promised when you deliver the product.  Be sure to deliver the goods or possibly expect a request to get money back.   

4. Be willing to build a personal relationship.  Boomers want to know the person they work with. Be ready to take the time and make the effort to let Boomers know you through the new avenues of relationship marketing.  

5. Give them what they want. This is the bottom line to developing a reputation as the “go-to” professional in your field with this group of consumers.

Develop the products and services this group of smart, savvy consumers wants, be totally honest, and over- deliver.  Then you will be on the to developing the reputation needed to work with the dynamic Boomer market.

Boomers Will Love Your Information – If It’s Good!

Are you developing information products that target areas of interest of the  billion-dollar baby boomer consumer market? If so, you are on the right track. 

  • Information products are a key to doing business on the internet and Baby Boomers are a great market for these products.  Here are some critical factors to consider as you develop your information products: 
  • Boomers want educational materials that have substance, not fluff. Don’t try to “fool” Boomers into purchasing something that has no relevance or is not accurate or substantial.
  • Boomers want practical information products, not just a lot of theory. Make sure you are providing information that has practical application and can be used effectively.
  • Boomers want education sources of the highest quality. Back your information up with correct facts and figures. Use language that speaks to the experiences of this age group by using illustrations that relate to what this group understands.
  • Boomers want information that is easily accessible. These smart consumers are not afraid of the Internet and use web searches to gather quick information. Online courses and information products can be particularly attractive if the product provides solid information. 
  • Because Boomers are computer savvy, information products including ecourses, ebooks, mini-courses, articles, and other quickly accessible information are attractive to this market.

However, Boomers grew up with real books and magazines.  They held some of the most famous books and magazines in their hands and may had sets of the Encyclopedia Britannia in their homes. 

So consider producing printed materials such as print-on-demand (POD) books, home study courses, and workbooks and other printed works. This information could be your ticket to a new income stream if you can produce the quality products sought by the boomer market.

The Financial Status of the Boomer Consumer

The Baby Boomer consumer market presents a broad range of economic diversity. Over the years, large groups of Boomers were unable to put aside needed amounts of income to take them through retirement years with ease.  As a result, many look to social services to help them.

The reasons for this vary.  Some of it was family related.  Raising kids has always been an expensive proposition.  But over the past decades, the demands for “stuff” grew like never before. Prosperity seemed to be at the finger tips of many and finding a job was easy.   

But even with a job, saving for the future was not always possible. Now the financial crisis has put more strain on savings that weren’t supposed to be touched for several more years.  

As a result, instead of retiring or taking it easy, a large group of Boomers continue to work or find this to be the time to try independent work or to start a business. 

On the other hand, economic research also indicates that there is also great discretionary money for spending available in this market. “Baby Boomers —have annual discretionary income of $750 billion” (Building News, 2006).

This puts Boomers into the billion dollar-marketing arenas. Boomers need and want high-quality products. Most of them are accustomed to having the best in their life.

Understand the trend in Boomer consumer groups and select the segment of the market you want to target in your business.  Then study the Boomer characteristics you can appeal to in your marketing.  This is a huge maket if you go for either the high or low end.  Once you establish yourself as a reputable company, you could gain a very loyal market group that’s willing to stay with you for a long time.