By Michael Carney
Much
of today's marketing is aimed at the younger end of the population. Popular
trading demographics include 20-39s, 20-44s 18-39s or 18-49s. If your target audience
is really skewing older, you'll daringly opt for those aged 25-54. Talk about
covering all the bases.
However, as Nielsen USA has just reminded us, older folk not only have feelings, they have disposable dollars as well. In particular, the Baby Boomers (currently aged 46-64) "are an affluent group who adopt technology with enthusiasm (think about the number of parents or grandparents who regularly send e-mails or upload photos to Facebook and other sites). They have also shown a willingness to try new brands and products".
In the US they spend 38.5% of FMCG dollars -- yet less than 5% of advertising is targeted their way.
Nielsen points out these facts about Boomers:
• Dominate 1,023 out of 1,083 consumer packaged goods categories
• Watch the most video: 9:34 hours per day
• Comprise 1/3 of all TV viewers, online users, social media users and Twitter users
• Time shift TV more than 18-24s (2:32 vs. 1:32)
• Are significantly more likely to own a DVD player
• More likely to have broadband Internet access at home
The Nielsen analysis concludes: "At a time when most analysts are predicting much slower growth in consumer spending, manufacturers and marketers need to look at every opportunity to grow market share. Boomers can represent tremendous potential to those who know how to reach them."
As Baby Boomers ourselves, we think it's great to be ignored by marketers -- we get to make our own choices and not have endless sales fluff thrust upon us. Putting on our marketing hats, however, we grudgingly admit there's a lot of money left on the table if you're not attempting to extract it from the older generation.
Realistically, however, we don't imagine the industry at large will let the facts get in the way of a good youth-skewed marketing strategy.
You may contact Michael at: editor@MarketingWeek.co.nz
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