By Lotte Reford
In an era of “-isms,” ageism is one of the less considered. But there’s a bias in marketing, and it leads to brands missing out.
Let’s take a look at the facts:
- Older consumers are the biggest annual spenders in the United States;
- They hold most of the nation’s wealth;
- Yet only 5 to 10% of marketing budgets are spent on targeting this demographic.
But are old truths about boomer branding—history, simplicity, loyalty—still an accurate representation of what these older consumers want to see? We suspected that a technological takeover was underway for this demographic, and our recent research has confirmed that the picture is changing. In fact, we discovered that older consumers are tech-savvy, curious, and ready to be captivated by creative campaigns.
So let’s look past the stereotypes of technophobe oldies and dive into this changing demographic.
Who are boomers and why are they important?
The baby boom generation was born between the years 1946 and 1964, and their attitudes were largely shaped by how they grew up in what’s often referred to as more simple times. This “generational” distinction, however, is a blunt tool; it’s important to recognize that older members of Generation X (born 1965 to 1980) share many similarities with younger boomers.
The 55-plus age group makes up over
98 million Americans or around 30% of the U.S. population. They have built substantial wealth and spending power, making them an important target market for many brands. Despite this, older consumers are relatively overlooked by marketers, with a disproportionately low percentage of marketing budgets targeting them.
Reasons why businesses focus their marketing on a younger demographic may be because younger people are easier to reach through social media marketing, there’s a bias by younger marketers and business founders toward their peers, or a general cultural assumption that young people are tastemakers.
However, any ambitious brand should be able to see that mature consumers are not out of the tech loop, and boomer branding can provide a valuable revenue stream for their organization.
The future of baby boomer branding
There’s been a steady increase in the use of technology by older people over the last few years, and as with many aspects of life that have shifted since 2020, Covid sped up that change. One year after Covid, 73% of 50- to 64-year-olds and 45% of people 65+ reported
using social media. In addition, 89% of 50- to 64-year-olds and 76% of people 65+ own smartphones.
Further research has revealed an interest by older consumers in branding that integrates new technologies:
- 40% of 55- to 64-year-olds called VR (virtual reality) branding interesting
- 46% of 55- to 64-year-olds called AI (artificial intelligence) branding interesting
- Additionally, this demographic was least likely to deem AI branding uninspiring
A key takeaway is that older people are not so out of the loop that they haven’t caught the buzz about new technologies like ChatGPT, and they’re exposed to a lot more than just the morning paper.
Attracting boomers to your brand
The unstoppable rise of social media, widespread adoption of ChatGPT, and a pandemic-induced uptake in technology have led to improved tech literacy among boomers and older Gen X consumers. Clearly, there’s a huge opportunity for brands to stand out by integrating some aspects of innovation and technology into their marketing. Ways to do so include:
Integrate innovation into historied brand positioning
Separate your thinking about your broader brand positioning—the fundamental values associated with your brand—and the techniques and trends you leverage in your day-to-day marketing strategies.
According to our research, older consumers have more faith in brands with
historied and trusted positioning. Use a historied and trusted brand position as a foundation for innovative marketing campaigns that engage your audience. For example, you could use AI to create limited-edition logos that emphasize that your product is one-of-a-kind.
Satirize new technology
If you make power tools or sell luxury cruises, you may think there’s no need to integrate VR or AI into your business, and you’re probably right. But you can still create playful marketing campaigns based on what your audience is interested in. You could satirize virtual reality by showing your audience how it can’t compete with the real experience of a luxury holiday.
Keep the personal touch
A curiosity about AI doesn’t mean a burning desire to communicate only with chatbots. Personalized marketing and customer service will remain essential in winning the loyalty of this demographic, and AI can
play a powerful role in helping customers feel heard.
Include boomers in your company’s marketing plan
Mature consumers are a key demographic for many brands: they have accumulated wealth and are spending it faster than any other age group in America. The future is bright for boomer branding, but marketers need to look past traditional, one-dimensional caricatures of older consumers.
There is no one-size-fits-all approach to a generation that includes Richard Branson, Bill Gates, and Ozzy Osbourne. While fundamental values still play a significant role in how boomers relate to brands, this increasingly curious and tech-savvy generation is now open to more creative, innovative, and even disruptive, marketing campaigns. Brands have a chance to engage and corner this market by being brave and taking chances with modern marketing tools.
Be the first in your industry to show older consumers that you understand their curiosity about technology, and have the history and reputation to take a big step forward.
Marketing to boomers FAQs
What is traditional marketing for baby boomers?
Traditional marketing has assumed baby boomers are best reached through traditional channels such as print media and TV. Marketing materials have focused on emphasizing a brand’s history and backstory while providing a human touch throughout the customer journey.
What do baby boomers value most?
In branding, boomers still value a personal touch, humor, and traditional storytelling. However, we’ve discovered a growing interest in branding featuring AI and VR content among baby boomers.
What social media do Baby Boomers use?
Facebook is the most popular social media channel and 68% of baby boomers have a Facebook account. Additionally, older consumers are increasingly using Instagram and TikTok, with TikTok use growing faster than any other app.
About the Author
Post by: Lotte Reford
Lotte Reford is communications lead for Squadhelp.com, a naming and branding platform with more than 40,000 customers globally, from the smallest startups to corporations like Nestle, Philips, Hilton, and Pepsi.
Company: Squadhelp
Website:
www.squadhelp.com
Connect with me on
LinkedIn.
