We’ve all heard the numbers: Baby Boomers are a force some 78 million strong and represent a $2 trillion plus buying force. Although these statistics strongly underscore the overwhelming importance of businesses marketing to older generations, recent Web chatter suggests many are overlooking the demographic.
Matt Thornhill says as much in a December Engage Boomers blog post, offering ten reasons why 2010 marketing plans should focus on Boomers. They are, after all, the future; they buy lots of things and they like advertising, he says.
So Boomers should be an easy mark (no pun intended) for marketers, no?
Well maybe not. The generation does have some unique tendencies and preferences. Just today I learned from the Associated Press that people born between1946 and 1964 comprise 43 percent of motorcycle owners in the United States according to a 2008 survey.
At minimum, this is very good news for Harley Davidson. On a broader level, it points to the more compelling Boomer trend and intention to stay young, active and “hip” as long as possible—even better news for businesses catering to physical wellbeing, healthy aging and the like.
So what are companies unversed in boomer ways to do? How should they catch up to those marketers already on the frontlines?
One place to start is New York City, May 14, at the workshop, Marketing to Boomers and Beyond: How to Build Your Business with the Mature Consumer. More than 15 leading experts will share the latest insights and how to successfully apply boomer-focused marketing practices to your business. Baby Boomer expert and author, Dr. Leslie Harris of Marketing to the Boomer and Grandparent Consumer is organizing the event. To learn more and check out the list of speakers, visit the Marketing to Boomers and Beyond Web site.