I was asked to contribute to a feature in AdMedia, February 08 issue ‘Why Grey Matters’ and was interested in the comment by Derek Lindsay DraftFCB who believes marketers are aleady targeting the baby boomer group. He adds they include them in their target demographics to get a ‘broader sales base’. This really does sum up the attitude of traditonal agencies towards baby boomers.

For a start mass marketing is dead! One shoe doesn’t fit all and generational marketing is the smart way to reach audiences these days. We asked boomers ‘Do you feel current advertising targets you?’. 86% said they feel ignored by advertising. Further they even recognised the fact that as soon as you’re 50 you disappear off the marketing radar! Given that people 50+ currently account for 50% all disposable income and in just 7 years all boomers will be 50+ and account for 61% of all disposable income – NZ ad agencies are definitely not up with the play.

 My second point is, given they include them but their ads aren’t effective, to have any effect ads need to be up weighted with considerably more spend to reach this audience (if you’re lucky enough to get their attention). This is part of the ‘high cost conspiraracy’ of the ad industry – big ads, big budgets, peak periods. Visit www.tvlowcost.co.nz and see how it can be done for a fraction of the cost – effective and efficient.

 At Senioragency we have spent considerably time understanding this audience, Boomers are experienced and savvy. How can a 28 year old creative surely know  and understand generational and life stage cues when they have just finished an ad campaign for Huffer? My final point – to know them is to understand them. Being one helps. Being specialised on boomers and beyond surely makes a difference?

 

• Senior? X
• Baby boomer? X
• Gen Wise

They will challenge the traditional image of a 60 year old:

• Refusing to lie down
• Great energy
• Great means
• Want to stay young and active

The BB generation will show you that turning 50 is just the beginning!

They have changed every life stage they have entered. They are a rebel generation:

• They fought for the causes in the past and will continue to fight for them
• They will fight for life style – even if it means working longer and retiring later
• They will fight against ageism

They are going to go kicking and screaming into retirement.

They are a ‘rust proof’ generation!

They started our focus on youth and like or not in the next 10-15 years they will shift the focus back to themselves again! They have been ignored by marketers and businesses since turning 50!

The business opportunity!!

• To revitalise cash cow brands
• The development of products and services specifically aimed at this audience
• As a key secondary market for some brands

The opportunity = to be the first 50+ friendly company – don’t wait for the stampede!

• Competitive advantage
• Competitive point of difference

Its greener pastures we are headed into for those brands aren’t complacent about the opportunity!

But this audience are no push over:

• Very experienced, smart and savvy
• They are the original consumer generation
• They know when they are being talked to – they also know when the wool is being pulled over there eyes!
• There is a need to truly understand them – to get under their skins to be successful
• Research, different strategies, creative, messages, touch points and segments!!

Do you think you have them covered? Think again! 86% think advertising ignores them!

Chris Schultz

MD, Senioragency NZ

NZ’s first advertising agency dedicated to baby boomers and beyond