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.

What are Boomers spending their money on these days? The answer could be lenghty but here are five areas where Boomers are spending significant dollars.  Since Boomers are less likely to move into a traditional mode of retirement like the generation before them, they will need products and services that help them continue living a healthy and active life.

Of course, talking about a few areas of need can’t possibly cover everything the Baby Boomer market wants.  But it gives you at least an idea of how this market group thinks:  

1. New Business Support: Boomers want information on money-making ideas. They want to use their lifelong experiences to make income to support their lifestyle, particularly after retiring from their traditional work. Business and entrepreneurial coaching, consulting and programs will go over well in this market.  

2. Financial Information. Boomers spend 57% above the average on retirement programs. They are interested in financial programs and information.  Show them how to make the money they have stretch through good fiscal programs and plans. 

3. Self-Care. Fitness, wellness and nutrition are big interests of Boomers. This group might be growing older in their bodies but not in their minds. The quest for youth will be continual with this market.  

4. Apparel.  On average, Boomers make about 37% of apparel (clothing and accessories) purchases and spend about 40% on household furnishings and equipment. It’s time for them to fix up their homes and to buy those material items that had to wait until this time in life.

5. Leisure. Travel and tourism is also a growing area for Boomers who love to see the world. Boomers that find a way to combine their love for travel and with a way to earn money will be very happy.  Travel and tourism services for this market will be hot for quite a while.   Some start their own travel services, which gives them the opportunity to get away while earning a living.

6. Education. Boomers continue to learn and educate themselves about what is going on around them. They look for online courses, continuing education, special interest courses, degree programs, and general interest classes both online and in the local community. 

These are not the only areas that gain Boomers dollars but this gives you a great glimpse of ossiblities for targeting what you have to offer to Boomers. Boomers going into business will be a trend that lasts for many years.   As the economy begins to rebound, so will Boomer spending so get geared up to reach this market group.

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.

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’s what’s happening when it comes to the Baby Boomer consumer market.  This group is a billion-dollar market that’s 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 your started.  

1. Never underestimate a Boomer. Develop a positive reputation by consistently presenting a high-quality product that is 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 product and services this group of smart, savvy consumers wants, be totally honest, and over deliver and you’re on the way to developing the reputatio that could put money in the palm of your hands.

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.