28 Apr Ideal Target Market Isn’t Millennials
There is always a lot of talk as to who is the best demographic to market to at any given time. Depending on the year, different groups are utilizing different methods (like online shopping rather than trips to physical stores) to make purchases. So, if you had to guess which is the “ideal target market” right now, what would you guess? If I said “baby boomers,” would that surprise you?
Baby Boomers Are Valuable Customers
It’s true! While a lot of companies are spending time and money appealing to the illusive and fickle millennials, there is a big group out there just waiting for you to try and reach out to them. “No company can focus on just one generation. You have to have a strategy appealing to everyone on some level, and that’s why targeting is so important.” You’re not neglecting your efforts to other groups, but you’re instead putting more of a focus on this particular market.
Where millennials are typically described as busy, distracted, and needy, baby boomers are often said to be more patient, at least in this kind of setting. That means, for example, that they may read through an entire e-mail or newsletter, whereas a millennial is more likely to just skim. These distinctions are important especially if you are trying to cover all your bases; in this example, you might include a summary of your points at the top of an e-mail for the skimmers and let the boomers read through the rest.
It’s been reported that those fifty and older make up 50% of “consumer expenditures, yet just 10% of marketing dollars are targeted toward” them. Obviously there is a divide here, one that should be rectified for you, the marketer, to reap the rewards. A lot of people think that this generation isn’t worth marketing to because they are less experienced with the technology, or because they’re “set in their ways,” but that is an assumption that could cost you a lot of business.
Boomers on Facebook Are Ideal Target Market
If you’re looking for a more compelling reason to extend your marketing efforts to baby boomers, then consider that “more than 70% of the disposable income in the US comes from baby boomers.” Much of that may be saved, but that’s really dependent on the person and can’t be assumed for an entire generation. In fact, many people within this age range are doing a good amount of spending, reported at around “$3.2 trillion annually.”
Yes, that’s a lot of money. It should make more sense now why they are considered an ideal target market and should make LESS sense why they aren’t appealed to more often.
So, how to you really start to communicate with the baby boomers? As you might already know, this generation is big into social media. Not the same way as millennials, perhaps, but still with enthusiasm. The largest platform used by boomers is, perhaps unsurprisingly, Facebook, which has been around for long enough for them to get used to the concept. That doesn’t mean all boomers are going to respond well to Facebook and advertising there, but many are at least on the site and will see your efforts.
Baby boomers as an ideal target market for engagement strategies. They read and watch, taking in content at high levels. If you can create an ad and campaign it directed at this group, then they are more likely than other demographics to pause and take it in rather than scrolling quickly past.
The biggest piece of any marketing is to understand your market. Do some serious research into what baby boomers want and are looking for in online shopping. Speak to someone you know within this demographic: they may have some valuable insight that you can’t find online! To get help with putting together a successful online campaign to target baby boomers, get in touch with Eyler Creative. We will work with you to develop and execute a marketing strategy tailored specifically to your business’s needs.
We are a digital creative agency in Baltimore, Maryland with an excellent team of marketing managers, creative designers, developers and programmers all working together with one common mission – to deliver the absolute best client experience and solutions to reach your goals. We’d love to work with you on your next project.