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Marketing and Motivating Boomers and Beyond

Archive for the ‘50+’ Category

New Findings: Generations and Donations

Tuesday, March 16th, 2010

The Chronicle of Philanthropy reported this week on new research into how different generations – from Millennials to Silents – support and interact with charities.  The survey claims that Gen X and Millennials/Gen Y now make the majority of potential donors but notes that both younger cohorts “contribute less money and support fewer charities” than Baby Boomers.  Convio estimates 79% of matures (defined as born before 1945) give, as do 67% of Boomers, 58% of Gen X and 56% of 18-29 year-olds.  The amount given increases signnificantly with age.

GenerationalGroupsAverageContributionsYear

Direct Mail Dominates for Boomers, Silent Generation Donors

The report finds that direct mail, long a consistent vehicle for for-profit marketing, continues to be an effective way for not-for-profits to reach members of the Silent and Baby Boom generations.

Direct mail remains the dominant way through which older people give, with 77 percent of donors born in1945 or earlier saying they had given through the mail in the last two years. But among members of Generation X and Generation Y, no single way of giving dominated.

Forty-three percent of Generation X and 26 percent of Generation Y members in the survey said they had given through the mail in the last two years, while 35 percent of Generation X had used a charity’s Web site and and 29 percent of Generation Y had used that approach.

The full report from Convio notes that today’s traditional direct marketing fundraising letter – that long form, friendly piece that feels like it came off a typewriter – grew up with today’s Silent Generation and older.  And it still works for them.  35% of people older than 65 first heard about a charity through the mail.  Asked how they first learned of their top charity, Millennials did not even register mail as an option.

Convio’s take-away?  “Direct mail has a bright future — but it needs to evolve.”  It needs to be one part of a multichannel mix, one that includes the web, email, telemarketing and social media.

I had the honor of talking with a group of Northern Virginia charities and government agencies last week, at a lunch sponsored by the Coalition for Human Services.  Our topic was another channel in Convio’s desired mix: social marketing.  Friday, I’ll share some of the insights from that presentation and the lively discussions that followed.

Targeting Baby Boomers? Consider Radio

Friday, March 12th, 2010

Consider this scenario: A nation struggling with economic hardship and uncertainty; a president looking to connect with the public in a 1933FDRFiresidechat.NPR.HarrisandEwingway that seems personal and relevant.  He turns to a brand new medium that’s spreading like wildfire and sends out his message “one-to-one.”  This was the scene on March 12 in 1933, when President Franklin Delano Roosevelt used radio to deliver the very first fireside chat.  For those marketing to Baby Boomers and beyond, the (no longer new) medium of radio is still a great way to reach a targeted older audience.

Demographics of Radio Listeners

Radio, which first arrived in the US in the 1920, was quickly adopted by urban citizens.  Today, it reaches more 77% of adults daily.  76% of Baby Boomers listen to radio, more than any other demographic cohort. 

News/talk formats and public radio stations are especially appealing to mature, highly-educated listeners.  The average age of a public radio listener is 54.1 years old.  42% of NPR listeners are over 50 and 54% are college graduates.

In their “State of the Media Report,” The Pew Project for Excellence in Journalism notes that:

Listeners of news/talk radio tend to be older than those of other formats, plus more educated and affluent.  More than half (57%) are over the age of 55 and three-quarters (77%) are over 45. Nearly half (45%) are college graduates and more than 4 in 10 (41%) have a household income of $75,000 or more.

Age may be a factor of the differences between AM and FM listeners. Traditionally, most news/talk has aired on the AM band, where listeners tend to be older.

Will Digital Kill the Radio Stars?

With iPods, music on demand, the Internet and satellite radio all cutting into broadcast radio’s “turf,” is it any wonder that Pew writes “Radio is well on its way to becoming something altogether new — a medium called audio.”

But even as radio becomes audio, it’s still an effective way to market to Boomers.  

In 2005, Arbitron reported satellite radio audience “more closely mirrors the age and gender profile of the average American than audiences of other digital forms of radio … 18% are age 55 and older.”  At the time of that study, another 18% were aged 45-54 – younger Baby Boomers (aka Gen Jones).  Satellite radio subscribers are also wealthier; they are twice as likely to live in a household with an income of $100,000 or more.  Older subscribers say they appreciate the ability to find music from their youth that is no longer played on broadcast radio; they also like filtering out the on-air chatter of commercial radio, sometimes perceived as offensive.

And, in 2006, Edison Research and Arbitron found that 26% of Americans over 45 years old had listened to radio streamed over the Internet in the last month.  Remember: Boomers are particularly time-pressed, often caring for elder parents and/or adult children (or grandchildren) while still working.  Internet radio allows them to listen when they want, and to the content or programming that’s most relevant to them. 

Will your 2010 plans include radio?  Share your thoughts below.

Millennials and Religion, Baby Boomers and Spirituality

Friday, March 5th, 2010

Wrapping up our short takes from new Pew Research Center data, we turn to religion.  Pew’s study says that Millennials are not as religious as the four elder cohorts – Gen X, Baby Boom, and generations Silent and Greatest. 

0210ImportanceReligionByGeneration.PewReschCtr

Pew points to people’s natural “tendency to place greater emphasis on religion as they age” but notes that – when you look at how the generations felt when they were of similar ages (18-29 years old), Millennials are more like Baby Boomers than Gen X.

“[Y]oung people today look very much like Baby Boomers did at a similar point in their life cycle; in a 1978 Gallup poll, 39% of Boomers said religion was very important to them.”

We are reminded that marketing to Boomers or any other generation for that matter) cannot be based on a cohort’s label alone.  It’s what what Dick Stroud once called the “the blindingly obvious – lifestyle and lifestage trumps age.” (more…)

Fewer Younger Veterans Than in Past Generations

Thursday, March 4th, 2010

The excellent Pew Research Center report, “Millennials: Confident. Connected. Open to Change,” contains this nugget of insight regarding military service across the generations. 

  • In 1964, when Silents were ages 19-36 yrs old, 24% had already served in military.
  • In 1978, when Boomers were ages 14-32 yrs old, 13% were veterans.
  • In 1995, Gen X were ages 15-30 yrs old, 6% had served.
  • Millennials are currently 18-29 yrs old.  Per 2010 Pew research, only 2% are veterans.

(You also can look at this data in Pew’s excellent interactive chart, comparing generations now and when they were the same ages.)

No wonder the Silent Generation feels that their wartime experiences/history are what make their generation unique from Baby Boomers, Gen X and the Millennials. 

Learn about marketing to mature veterans as a senior “niche” by reading our 2009 post on the subject.  And add your comments below on what this shift means – if anything – to generational marketers.

Social Networking Habits of Baby Boomers and Beyond

Wednesday, March 3rd, 2010

More insights from a new Pew Research Center study on the Millennials, which compares the attitudes and habits of 18-29 year olds with those of the Baby Boom, Silent and X generations.  Today’s topic: Social networking.

0210SocialNetworkingUsersByGeneration.PewReschCtr

Despite tremendous growth in the numbers of Baby Boomers and matures actively participating in social networks, Pew Research Center found that “Only 30% of all Boomers and 6% of members of the Silent generation have created their own profile on a social networking site.”

 Now, 30% of all Baby Boomers is a sizable group, but the research reminds mature marketers it’s good to be choosy about how much and where to invest in social media marketing.

Nearly 1 in 5 (19%) Gen Xers and fewer than 1 in 10 (11%) Boomers told Pew they visit social networking sites multiple times a day.  More Boomers (26%) than Gen X (19%) go on once a day.  14% Millennials, 10% Gen X, 6% of Baby Boomers and 1% of Silent Generation members say they have ever used Twitter.

Learn more about social media and Boomers/seniors.  Please check out our other posts on this subject or download our complimentary “Top 10 Take-aways” from the 2010 Builders Show.  Or, email social [at] creatingresults.com to request our Social Media Cheat Sheet (with descriptions, data on popular social networking sites) and the Social Media Survival Guide (lays out a five-step plan for getting your brand socially engaged).

Technology Use, Attitudes Distinguish Youngers from Elders

Tuesday, March 2nd, 2010

Another look at the generational marketing snapshots provided in the new Pew Research Center study on Millennials (see yesterday’s post).  Today’s topic: Technology. 

 Two years ago, Harris Interactive asked Americans what they’d re-name their generation, if they could.  A full quarter of both Millennials and Gen X chose “Generation Tech.”  That finding is confirmed in Pew’s new research which reported that – especially for the 18-29 year olds -, technology is what defines them as distinct from Boomers and beyond.

0210TechnologyUseByGeneration.PewReschCtr

It’s not just use of technology but attitude that distinguishes Millennials and Gen Xers from their elders.

“[A] majority of the public takes the positive view of modern technology. Half of the public says that new technology makes people closer to their friends and family, but 39% say that new technology makes people more isolated. A majority of Millennials (54%) and Gen Xers (52%) think that new technology makes people closer to each other rather than more isolated. But Boomers and members of the Silent generation are more divided in their opinion.”

The upshot for those marketing to Baby Boomers and Silent Generation?  Many elders are tech savvy and active online.  But it’s not what defines them.  Don’t forget traditional marketing techniques such as direct mail or print advertising when trying to motivate 50+ consumers.

Generational Snapshots from Pew Research Center

Monday, March 1st, 2010

The Pew Research Center’s latest study, “Millennials: Confident. Connected. Open to Change” provides insights for marketing to Gen X, Baby Boomers and Silent Generation as well as the nation’s 18-29 year olds.  This week we’ll post short takes related to social networking, economic outlooks and other topics.  We recommend reading the full study and spending some time with the terrific interactive graphs that compare the generations todayand when they were at the same age as Millennials are now.

Do Generational Distinctions Matter to Marketing?

How we see ourselves does matter to marketing, so it’s interesting to note that each of the four generations told researchers that there are reasons they are unique. 

First, here’s how Pew defines the generations:

  • Millennial: Born after 1980, currently 18-29 years old
  • Generation X:  Born between 1965-1980, now 30-45 years old
  • Baby Boom: Born 1946-1964, currently ages 46-64 (includes both leading edge/older Boomers and the trailing edge/younger Boomers often broken out as “Generation Jones”)
  • Silent (aka “Ikes”): Born between 1928-1945, now 65 years old or better

Now, here’s how each generation defines what makes them different than the rest.

0210WhatMakesGenerationUnique.PewReschCtr

All of the generations except the Millennials said work ethic was a distinguishing trait.  This is especially ironic because Pew’s study also shows that 15% of Millennials reported being successful in a high-paying career was one of the most important things in their lives (vs. only 7% of respondents over 30 years old who felt that way).

The report cites Millennials (61%) and Silents (66%) as saying theirs is a unique generation.  The Silent Generation respondents were most likely to say that theirs is not just a different generation, but it is better/stronger than the others (4%).

Silents also were most likely to say that the historic times in which they lived were defining of their generation.  (Check out this case study of branding/market research done for a museum focused on WWI and WWI experiences to see one way we’ve applied this type of insight.)  Perhaps this will get lazy marketers to stop tossing peace symbols and Woodstock references into every Boomer-oriented ad?

Hurray for Hollywood’s Mature Marketing Insights

Thursday, February 25th, 2010

Despite Hollywood’s infatuation with youth, half of movie tickets are bought by people over 30.

“Youth-oriented movies make or break themselves on their opening weekends,” says Bill Newcott, host of Movies for Grownups® and editor of AARP The Magazine. “But three of the highest-grossing movies of all time—the grownup-oriented My Big Fat Greek Wedding, Dances with Wolves, and A Beautiful Mind—never reached number one at the box office. How did they manage that success? It was thanks to mature audiences, who kept those movies in the theaters for months.”

That’s right, Bill, and don’t forget that many of our best known and most prolific directors, actors, and screenwriters are working until later in life and producing some of their most powerful work to date.

Imagine if Clint Eastwood’s career had ended at age 55? His last movie would have been Pale Rider. Instead, we have what is widely considered the best work of his career, including Invictus, Gran Torino, Million Dollar Baby, Unforgiven, and many more.

“Life is a constant class, and once you think you know it all, you’re due to decay. You’re due to slide. I have to keep challenging myself and try something I haven’t done before. ” – Clint Eastwood

clint-eastwoodLike most of us, Clint’s life experience has informed his acting work and his years of directing experience have honed his skills immeasurably.

At age 42, the type of movie that appeals to me now is not the type of movie that appealed to me twenty years ago. This is not unusual! We all change throughout our lives, and our tastes change along the way. That is what makes marketing to older age cohorts – Baby Boomers and Silent Generation – a greater challenge. Not only is the target moving (continuing to age), but mature consumers become more skillful in deciding if something fits their personal taste. They are a tougher sales prospect, less willing to give over precious time to be ’sold’ on something.

What do mature movie-goers willingly pay the record ticket prices for? Check out AARP’s ninth annual Movies for Grownups® awards for insight into the cinematic tastes of matures. They reflect some of the attitudes and preferences of your Boomer and Silent Gen marketing targets.

The success of Movies for Grownups® illustrates there is a hunger for thoughtful, legitimate ‘grownup’ perspectives on what is in the marketplace for mature consumers. Use the life experience and skills of mature prospects to your advantage. Approach them as adults, not children. Well-executed mature marketing is authentic. Reward the target’s interest and time by focusing on their specific concerns and respecting their experience.

Grandparent Economy

Monday, February 22nd, 2010

My Nana turns 98 today, and in her honor we present some facts about what’s been called the “grandparent economy.”  Mary Furlong describes grandparents as “wealthy and willing to spend.”  And, while Nana is a card-carrying member of the Greatest Generation, marketing to grandparents today can’t be done without a better understanding of marketing to Baby Boomers.  Read on for some spending stats and a resource for those curious to learn more.

Baby Boomers are Grandparents, Too

According to Grandparents.com, roughly half of all Boomers are grandparents and the other half are soon to follow.  Their April 2009 report, authored by demographer Peter Francese, looked at the spending habits and economic impact of grandparents and found that ”in aggregate, they buy $2 trillion worth of goods and services annually.”  Francese/Grandparents.com also found that grandparents are younger than ever before:

* “Parents first become grandparents at the median age of 50 for women and 54 for men.
* 54% of grandparents, almost 38 million, are younger than 65 years old.
* By 2010, more than half of the grandparent population (51%) will be Baby Boomers (those born between 1946 and 1964) — nearly 60% by 2015.”

(more…)

US Online Population Shifts Older, Resembles Offline

Wednesday, February 17th, 2010

eMarketer’s new data on the US Internet population shows that the online world now resembles the offline: filled with active older consumers.  Internet usage is shifting, as mature users have taken to the Web.  Those marketing to Boomers and seniors will note that eMarketer predicts this trend will continue for the next five years: “More than one-half of new users will be ages 45 and up, as many of the remaining laggards come on board.”

Here is the eMarketer chart projecting the US Internet user penetration, by age, for the next 5 years:

USInternetUserPenetrationByAge2008-20014.eMarketer

 

For those curious, here are the US Census projections related to the US population as a whole, by age:

USPopGrowthbyAge2005-2015.Census

As we noted on this blog last week, long gone are the days of thinking mature consumers are not online. Any business marketing lifestyle services to Boomers and seniors must have a well-constructed Internet strategy and design their websites so they are friendly to mature consumers.  Internet success is critical to overall success, and it will not happen overnight.


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