The Promotional Idea Showcase - Winter 2001 - Updated Quarterly

Generational Marketing
More Boom For Your Buck
By Karen Akers 
Born between 1946 and 1964, baby boomers make up the largest generation the U.S. has ever seen. But don’t let their numbers intimidate you. As with any demographic, the first step to understanding this massive group is to know what influences their mind-set. Here, in the last of our series on generational marketing, we take a look at the boomers – the events that have shaped their lives and what you can do to get their attention.

As baby boomers have grown up, they’ve taken America along for the ride. Their sheer numbers turned almost any passing interest they had into a national phenomenon. Think Hula Hoops in the ’50s, campus activism in the ’60s or disco in the ’70s. Now, with the oldest of this generation already over 50, they’re set to re-define middle age and retirement as we know it.

Understanding the events that have shaped boomers’ lives can help you and your counselor better plan promotions that speak to the baby-boom generation.

Here are just a few of the touchstones from their formative years:
  • Cumulative sales of TV sets reach 17 million (1951).
  • McCarthy hearings begin on national television; U.S. Supreme Court declares racial segregation unconstitutional (1953).
  • Alaska and Hawaii become states (1959).
  • Berlin Wall is erected (1961).
  • Nuclear war is barely avoided during the Cuban Missile Crisis; Marilyn Monroe dies (1962). 
  • John F. Kennedy is assassinated (1963).
  • The “British Invasion” begins when the Beatles, who ultimately change rock music forever, land in New York (1964).
  • Hair, the first rock-inspired Broadway musical which also featured nudity, another Broadway first, opens (1967).
  • Martin Luther King and Robert Kennedy are assassinated (1968).
  • Neil Armstrong is the first man to walk on the moon; thousands descend on Woodstock, NY, for a four-day concert; Charles Manson and his “family” murder actress Sharon Tate and five others (1969).
  • Four students are killed while demonstrating against the Vietnam War at Kent State University (1970).
  • Questioning of religion reaches the stage with the debut of Jesus Christ Superstar, a rock opera (1971).
  • Gasoline prices skyrocket after OPEC institutes an oil embargo; abortion is legalized in the U.S. (1973).
  • President Nixon resigns over Watergate scandal (1974).
  • U.S. celebrates its bicentennial (1976).
  • Three Mile Island nuclear power plant leaks radioactive material (1979).
Forever Young

It’s an indisputable fact; the nation’s biggest demographic is getting older. Since 2000, 10,000 baby boomers have been turning 50 every day. By 2010, one-third of the population will be 50 or older. But don’t expect boomers to behave like their grandparents (or even their parents). They’ve redefined American culture every step along the way, and they’re not about to stop now.

Here are a few things we can expect from boomers in the coming years:

Empty Nesting. According to American Demographics magazine, 30% of babyboomers became “empty nesters” in 2000. One study found that a third of the empty nesters it surveyed experienced an increase of $10,000 or more in discretionary income when their children moved out. This extra cash will fuel a number of markets, including finance, travel and home remodeling, as well as their supporting industries.

Retirement Redefined. The most important thing to remember when marketing to baby boomers is to never call them old. They’re quickly approaching retirement, but not many will likely retire in the traditional sense of the word. More and more are staying at their jobs well past normal retirement age, while others are using retirement as an opportunity to go back to school or begin a new career. In fact, about 28% of boomers surveyed by American Demographics say they plan to return to school after retirement.

The Sandwich Generation. Just because boomers are pushing retirement age doesn’t necessarily mean they’ll have more free time. Many still have kids at home and are also taking care of elderly parents, who are living longer than ever before.

Youthful Illusions. Don’t expect boomers to age gracefully. And don’t remind them that they’re getting old. When marketing to them, it’s best to think of them as roughly 10 to 15 years younger than they actually are. Expect anti-aging products and services to take off as the years go on.

With these lifestyle factors as a backdrop, here are some tips for successfully marketing to the boomer population:

Think value and quality. Boomers’ discretionary income should increase, but they’ll still be value-conscious. They’re willing to buy high-ticket items as long as they feel they’re getting their money’s worth.

Don’t focus on limitations. Although a pen with an ergonomic grip will make writing easier for older people, don’t tell them that. Instead, emphasize its reliability, comfort and style. Likewise, as the segment grows older, use larger typefaces for logos and copy.

Convenience counts. Even though boomers are getting older, their lives won’t be slowing down. With new careers, volunteer duties, college classes, parents, children and grandchildren all vying for their attention, time will be more in demand than ever. Let them know how your product or service can save time and make their lives easier.

Forget about age. Baby boomers are more active than previous generations were at their age, and they aren’t showing signs of slowing down. Products that reflect their lifestyle, such as activewear, outerwear, rugged bags, etc., are popular right now, says counselor Bill La Bar Jr., CAS. “It used to be most 45-year-olds would be happy to receive a traditional [upscale] pen. Now they want cool gear bags for outings,” he notes.

Takes one to know one. One way to figure out how your marketing campaign will speak to boomers is to include them in the planning stages. After all, what better judge of boomers’ likes and dislikes is there? Also consider using boomer models in any print or TV ads you may have. 
Remember nostalgia. Few things appeal to boomers as much as memories of the “good ol’ days.’” If you need proof, just consider the chart-topping debut of The Beatles’ anthology of number one hits, 1, released 30 years after the band’s breakup.

Case In Point: “Little Deuce Coupe”

Combine boomers’ nostalgia with their penchant for collecting, and you’ll have a winning combination. Shell Oil Co. used this effective marketing combo recently when it introduced its Crusin’ Classics promotion to attract new customers. Consumers could buy the three Crusin’ Classics cassette tapes, which featured classic oldies from the ’50s, ’60s and ’70s, for $1.99 each. However, to keep customers coming back, Shell stretched the promotion over a six-week period, making a new tape available every two weeks. 

The results: More than 4 million tapes were distributed, and best of all, 27% of the people who bought them weren’t regular Shell customers.

The Next Step

The biggest mistake you can make when targeting boomers – or any generation, for that matter – is assuming that they’re one homogenous mass. Members of generations may have shared many of the same experiences and, consequently, have similar attitudes, but it’s still important to consider other factors as well. By working with your counselor, you can make sure that your next promotion takes these factors into account and hits the mark every time.

Karen Akers is associate editor of Imprint.

HOW WELL DO YOU KNOW YOUR MARKET?
Pop (Culture) Quiz For Boomers
1. Alex Haley
2. Jackson Pollock
3. Alan Freed
4. Arthur Miller
5. Hunter S. Thompson 
6. Neal Cassady
7. George Lucas
8. Ken Kesey
9. John Travolta
10. Timothy Leary		 A. ’70s movie star who made a comeback in the ’90s 
B. Writer/director of Star Wars
C. Hero of Jack Kerouac’s On the Road and other books
D. Author of One Flew Over the Cuckoo’s Nest
E. Popular ’50s rock ’n roll DJ
F. Coined the phrase “turn on, tune in, drop out” 
G. Best known for “drip and splash” style paintings
H. Author of non-fiction bestseller Roots
I. Writer who popularized “Gonzo” journalism
J. Author of Death of a Salesman
Answer key: 1-H, 2-G, 3-E, 4-J, 5-I, 6-C, 7-B, 8-D, 9-A, 10-F.

Facts About Folks Over 50
Every 8 seconds, another one of the 77.4 million baby boomers turns 50. If that’s not enough incentive for you to hone your marketing efforts to attract this demographic, here’s some more facts about the ever-growing over-50 market.

Folks over 50:
  • Own more than 70% of U.S. financial assets
  • Control 70% of U.S. households
  • Purchase 61% of all new cars and 48% of all luxury cars
  • Account for more than $2 trillion in income
  • More than 79% own homes

Source: AARP