This post originally appeared as a LinkedIn Pulse post by Fred McMurray.
In the U.S., people age 50 and over control 70 percent of the nation’s disposable income, spending $230 billion on consumer packaged goods annually according to AC Nielsen Yet most marketing is targeted to millennials.
How are you targeting purchasers in your 2016 marketing plan?
Research indicates that business are allocating less than 10{a1e4dbad5b5db674abcd08880e44cddfd507140ecbeb8646296ad08a1acb49a4} of their budget dollars to the 50+ market. Yet according to AARP the 50+ crowd spends more time online than millennials. Over 50{a1e4dbad5b5db674abcd08880e44cddfd507140ecbeb8646296ad08a1acb49a4} of people ages 51 to 69 log more tha 15 hours a week online not including work time.
How do I talk with the 50+/baby Boomer audience?
When talking with the 50+ or Baby Boomer audience you can’t SELL, SELL, SELL. You have to educate the 50+ purchaser because they will do their own research to find the product/service that meets the needs of the current need/want/desire. Communications that rely “one size fits all” campaigns risk alienating and losing the buyer.
I’m not advocating Exiting the #Millennialmarketing campaigns for they are potentially your new long term clients, but understanding who is purchasing your product currently is critical for business success in 2016 . In other words, don’t forget the Boomers in your marketing campaigns.