The Baby Boomer generation, born between 1946-1964, is just shy of retirement or well into their free years. US adults over 50, according to AARP, spend $3.2 trillion every year, making up 50% of all consumer spending. This is a massive group to target with $15 trillion in financial assets, and the good part is, marketing to Boomers is relatively simple compared to younger generations. There are a few things to keep in mind when trying to capitalize on this group: ease of living, brand loyalty, and user-friendly websites.
If there is one thing to zero in on when it comes to Baby Boomers and consumption is brand loyalty. Once they find what they like, they will stick with it till day’s end. This proposes the opportunity for companies to upsell to their existing Boomer customers and see much greater returns than trying to attract a new demographic. Moreover, this group has a lot of money to spend on quality products, discounts are less likely to sway them, unlike the younger generations. If they want a product or service, they will buy it regardless of a markdown. Boomers are motivated to purchase items that will make their lives easier and more enjoyable. One way to expand your number of returning customers is by having generous and intuitive loyalty programs. If you show that your company will continue to benefit Boomers’ lives, and your loyalty programs apply in-store and online without any hassle, you can create a strong base of returning customers. They believe in their strong work ethic and all it has earned them, so now, in retirement, they are going to enjoy all the things life has to offer.
Boomers are much more adept than many Gen Zs and Millennials give them credit for when it comes to technology. 73% of Boomers own a smartphone, and 66% regularly shop online. If you want this generation to buy your product online, your checkout process should be fundamental, easy, and smartphone-friendly to maximize convenience. Boomers are the kings and queens of Facebook. To target your Boomer audience with Facebook ads and marketing campaigns, you need to be sure the focus is on the key information and how it will make their life better, do not try and oversell this group. It is important to remember to keep social media ads to the bare bones. If you use hashtags, keep it to one word; avoid abbreviations and slang; use good grammar and concise text.
Boomers spend just as much time online and actually a little more than Millennials, so it is important to utilize online marketing just as much as traditional marketing to get to this demographic. Streamline your websites, minimize the number of pages your customers must go through just to buy a product. If the online shopping process is not quick and easy, or if there are issues, you will lose a Boomer faster than any other generation. They will not stick around to troubleshoot. Boomers generally prefer the in-person shopping experience, but when they do shop online, they are spending time reading reviews. If they read poor reviews about a product or service online, they will find what they want somewhere else. Showing off customer praise of your product could go a long way for this generation. Having a brick-and-mortar store will also earn some brownie points with this Boomers. They are much more likely to buy from your business after viewing the products in person, making it beneficial to host events that would bring Boomers into your store to engage with your brand.
This generation has high expectations for customer service, technology, and product quality. If your company can ensure this and depict itself as a lifestyle brand, you will have no trouble keeping Boomers consuming your product. They value making the most out of their retired life and want quality and comfort and can afford to pay for it. The Miner Agency is well equipped to tackle the challenges that come with attracting Baby Boomer customers and can help your company make efficient and rewarding marketing plans to maximize your company’s potential.