Written by Michael Fleming on 2.22.2010
I was recently browsing through a USPS research report about marketing to the Baby Boomer Generation, and was blown away at how large of a segment this group actually is. According to this study, the Baby Boomer generation –defined as Americans born between 1946 and 1964- is comprised of 77 million Americans…which represents over 27% of our population.
“Born in 1946, the oldest of the Baby Boom Generation are now entering their 60s – an age where people tend to slow down, tighten their purse strings, and exhibit an unflinching loyalty to their established set of products and brands. In other words, they become anti-consumers in the eyes of all marketers not selling denture cream or bursitis balm. But growing up in the radical 1960s, these Boomers have always been different. And today, not surprisingly, we find that they are defying the age-old perception of old age.”
The purpose of this report was to challenge misconceptions about the Boomers, including financial conservatism, brand loyalty, and dormancy. The perceptions challenged were;
Perception: Age breeds financial conservatism.
Reality: Baby Boomers are proving to be liberal spenders who go for all the bells and whistles. Case in point: They purchase 50% of all luxury vehicles and 80% of all travel.
Perception: Older people don’t change brands.
Reality: Perhaps because they came of age in the experimental Woodstock Era, Boomers are as willing as under-40 consumers to try new brands.
Perception: The golden years are a time of rest and relaxation.
Reality: Boomers are leading busier lives than ever. Indeed, 80% say they will continue to work into their 60s, and many will go back to school, start a business, or take on a second career in retirement. Health and fitness also play major roles in their lives.
The realization is that this Baby Boomer generation is “much less brand-rigid than the generation that preceded them, and they boast far greater spending power than the generations that come after.”
After realizing the population and scope of this generation, it becomes obvious that the Boomers are still a very relevant and active demographic to consider in your marketing mix. If a marketer has a relevant product or service to offer this group, they open themselves to a huge channel of potential revenue! Of course…once you’ve identified that this is a valid demographic to target, you are still left with the biggest marketing question that plagues all marketers…
What is the best way to reach them?
The USPS goes on to share the following statistics;
• 95% of Boomers sort through their mail the day they bring it in
• 79% bring in their mail the day it’s delivered
• 50% say they look forward to discovering the mail each day
As these statistics illustrate, mail offers marketers a unique opportunity to get their product or offer noticed by an overwhelming percentage of the Boomer target. And because Boomers are willing to try new brands, mail provides the media “real estate” to fully introduce a product. And, as always, an ongoing mail campaign to existing customers delivers the one-to-one contact to help keep them loyal to a brand.
Works Cited
Reaching Boomers With Mail. United States Postal Service, 2006. Web. 22 Feb. 2010.
