How To Use Tv And The Internet To Tap Into The Baby Boomer Market
In the past, advertisers have focused on reaching consumers in the 18-49 age range. Today, that may be changing. As more and more companies are realizing the buying power that the Baby Boomer generation possesses, marketers are shifting their ad dollars and campaigns to reach this powerful market segment.
The Baby Boomers-those born between 1946 and 1964-comprise a market of 76 million people. And unlike the younger generations who are saving to buy houses and cars and struggling to raise a family, Boomers have a fat wallet of disposable income (some experts have approximated that Boomers have nearly a trillion dollars of spending power). Knowing this, no company can ignore the sheer size of the market, nor the wealth or voice that they have. That’s why smart marketers are rethinking their ad campaigns and targeting this profitable niche.
So what’s the best way to reach this market? TV and Internet, for sure. While television is still the most effective medium for reaching Boomers, the online options are growing fast. Following are some guidelines for using each effectively.
The TV Generation
Boomers were the first generation to grow up with TV, so it makes sense that they still prefer this medium as they age. In fact, on average, Boomers watch 22 minutes more TV per day than younger people, according to Nielsen Media Research. And since TV viewership increases with age, as the Boomers mature, their TV viewing time will continue to rise. What does this mean for marketers?
The Internet – You Can Teach an Old Dog New Tricks
The big misconception in online marketing is that you can’t reach Boomers via the Internet. In fact, Baby Boomers make up one-third of the 195 million web users in the United States, according to JupiterResearch. Additionally, ad buyers targeted Boomers with close to 5 billion dollars in ads in 2004, out of 13 billion spent in web advertising. So don’t think that Boomers aren’t online and that they reject technology. Nothing could be further from the truth.
According to the Pew Internet & American Life Project, over half (54%) of 60-69 year-olds go online, and 72% of 51-59 year-olds surf the net. Further, studies show that Boomers spend more money online that the average web user, yet they’re still the most underserved audience on the net. Therefore, if you want to serve this demographic, consider the following.
A Profit Boom
Once you effectively target the Baby Boomer demographic, your sales will increase. The key is to understand what this group wants and how they use and view the different advertising mediums. So take a look at your current TV and online campaigns and make sure they address the needs and concerns of the Boomer market. Revamp your marketing messages and placements as needed so you can cash in on the nearly trillion dollars of spending power this group has. When you do, you’ll have tapped into a large and profitable niche that can quickly boost your company’s profits to new levels of success.
Peter Koeppel is Founder and President of Koeppel Direct, a leader in DRTV direct response television, online, print and radio media buying, marketing and campaign management. With a Wharton MBA and over 25 years of marketing and advertising experience, Peter has helped Fortune 500 companies, small businesses and entrepreneurs develop direct marketing campaigns to increase profits.
Peter started Koeppel Direct in 1995 and has built it into one of the leading infomercial direct response media buying firms in the U.S.
For more information please visit: http://www.koeppeldirect.com
