Marketing to the Generations: Baby Boomers
“The best marketing strategy ever: CARE.”
Gary Vaynerchuk
This is the second post in a four-part series about Marketing to the Generations
As we started discussing in our previous blog post, Marketing to the Generations: Matures, marketing to multiple generations is essential for the survival and success of your business. This ensures you are building lasting relationships for years to come. Another generation you should be paying close attention to is baby boomers. Baby boomers are the generation born following the Second World War; this means baby boomers have birthdays falling between 1946 and 1964.
About baby boomers
The baby boomer generation controls over half of the net household wealth because they grew up at peak levels of income. They have been in the workforce for most of their lives, and they are beginning their transition into retirement. Baby boomers were fortunate to have good pension options, and they bought houses when they were more affordable. They will have a longer life expectancy today than any of the generations before them.
Baby boomers are competitive and optimistic. They believe hard work is rewarded and rightfully so, as the economy overall has done well throughout their working years. Many baby boomers feel young at heart and their life expectancy will surpass the previous generations.
Postponing retirement
Although some have retired early due health issues, many baby boomers are healthy and plan on working past a traditional retirement age. Some baby boomers are short on retirement funds due to financial reasons such as supporting their adult children who entered the workforce during a less favorable economy and their now dwindling inheritance. Although this isn’t ideal to anyone, baby boomers are especially self-reliant, and do what they have to do when it comes to achieving their goals.
How to connect
Baby boomers were born before the technology craze hit and still value face-to-face communication. Traditional sales techniques work well with this generation, and they appreciate service that makes them feel rewarded. To connect with baby boomers, conduct yourself as a team member and be cheerful. Be prepared to share your story, work with them on succession planning, and offer to do business with their children as well.
Like matures, baby boomers are interested in your history, as well as your background. They are also interested in information such as awards, designations and other qualifications. It is essential that you publish this information on your social media pages, website and in print materials. Baby boomers are more likely to offer their business to you when they see these qualifications.
Baby boomers most likely make up a good part of your business already. There is much potential for you to be of service to them and for them to help your business grow as well. As we discussed, baby boomers can be a great springboard in connecting with the next generation, Generation X, because it’s made up of their children. We’ll discuss how to connect with this generation in our next blog.
