Ageism in marketing?
It shouldn’t happen, right? Marketers are supposed to be experts in understanding the consumer, and knowing where, when and how to exploit opportunities.
But in turns out this doesn’t apply when you put together (a) Baby Boomers (age 57-77) and (b) digital technology. As reported here, “Despite baby boomers’ affluence and affinity for technology and digital experiences, just 6 percent of marketers identify that cohort as a part of their messaging, with most opting to ‘age down’ their brand.”
How important are Boomers? This important:
— They represent 20% of the US population
— They hold $78 trillion in assets – that’s half the entire US total
— They have an average net worth of $1.7 million
— They account for about a quarter of US spending
“Yet they’re the least-mentioned segment across the US marketing landscape, and 1 in 2 don’t feel represented in advertising.”
OK, but it must be because they’re behind the curve when it comes to digital tech, right?
Wrong. Here are just a few of the many factoids:
— Boomers have an “early adopter” attitude to technology — 70% are confident about using technology, and curious about new tech, devices and apps
— A third of their favorite 10 brands are technology brands (Amazon, Google, Apple)
— They prefer to research new products online, rather than take advice from their kids or grandkids
— They use technology to help them across a wide range of categories, from money management to home security to shopping to learning new skills
— Over a quarter buy major purchases online
— They visit retail and e-commerce sites more frequently, and are more likely to discover new products and services, than Gen Z or Millennials
Read the full report. And if you’re in marketing — or know anyone who is — show them this article!