How Boomers Today Are Changing Business Marketing Aging And The Future

It is no secret that the millennial generation has been the primary focus of marketers in recent years. Their digital savviness, constant connectivity, and buying power have made them a valuable customer demographic. However, there is another generation that continues to make waves in the business world – the baby boomers.

Contrary to popular belief, baby boomers are not fading into the background. With their vast experience, disposable income, and desire for a purposeful retirement, boomers are reshaping the marketing landscape and challenging businesses to adapt their strategies. In this article, we will explore how boomers are changing business marketing, aging, and shaping the future.

The Power of the Boomer Generation

The baby boomer generation, born between 1946 and 1964, represents a significant portion of the population. As they age, this demographic becomes increasingly important for businesses to understand and engage with. Boomers are not only living longer but are also working longer and staying active in various aspects of society.

Generation Reinvention: How Boomers Today Are Changing Business, Marketing, Aging and the Future

by Brent Green (Kindle Edition)

5 out of 5

Language	:	English
File size	:	1060 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	264 pages
Screen Reader	:	Supported
X-Ray for textbooks	:	Enabled
Paperback	:	252 pages
Item Weight	:	14.4 ounces

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With their accumulated wealth and disposable income, boomers have tremendous spending power. According to a report by Deloitte, boomers are expected to inherit $8.4 trillion from their parents, making them a desirable target market for many industries.

Furthermore, boomers have different consumption habits compared to previous generations. While they may have a fondness for traditional media like television and radio, they are also actively using digital platforms. According to a study by Pew Research, around 68% of adults aged 65 and older use the internet and are embracing the convenience of online shopping, social media, and digital communication.

Boomers and Purposeful Retirement

Unlike their predecessors, boomers are not content with a sedentary retirement. They are rewriting the rules of aging and seeking meaning and purpose in their later years. This desire for an active and fulfilling retirement has implications for businesses and how they market to boomers.

Many boomers are choosing to work beyond the traditional retirement age, either because of financial considerations or a desire to stay engaged. This trend is leading to new opportunities for businesses to target this demographic. From flexible job options to products and services that cater to active lifestyles, companies that understand the needs and desires of boomers are finding success.

Boomers are also more interested in brands that align with their values and resonate with their desire for a purposeful retirement. They are more likely to support companies that prioritize social and environmental responsibility, leading to the rise of sustainable, mission-driven businesses.

The Challenges and Opportunities for Marketers

As boomers continue to redefine aging and retirement, marketers must adapt their strategies to effectively reach and engage with this generation. A one-size-fits-all approach will not suffice when targeting boomers, as they have diverse needs and preferences.

Understanding the digital divide among boomers is crucial. While many are tech-savvy, others may still struggle with technology. Businesses should ensure that their marketing efforts are accessible and inclusive for boomers of all digital literacy levels. Incorporating user-friendly digital interfaces, providing clear instructions, and offering personalized support can help bridge this gap.

When it comes to messaging, marketers should emphasize the value and benefits of their products and services, rather than focusing solely on age. Boomers want to feel valued and appreciated as consumers, not singled out for their age. By shifting the narrative towards empowerment and inclusivity, businesses can build meaningful connections with this demographic.

The Future of Marketing and Aging

The influence of boomers on business marketing and aging is only set to grow. As the generation continues to reshape societal norms and redefine what it means to age, businesses that embrace this evolution will thrive.

Marketers will need to adapt to the changing preferences and behaviors of boomers. This means leveraging digital channels while also recognizing the importance of traditional media in reaching this demographic. Understanding the specific needs and desires of boomers will be key to developing targeted marketing campaigns that resonate.

The future of marketing and aging lies in creating engaging, personalized experiences for boomers. From personalized product recommendations to tailored content, businesses that prioritize customization and individualization will win over boomers in the long run.

The baby boomer generation is challenging businesses to rethink their marketing strategies and age-old assumptions about retirement. With their considerable buying power, desire for active lifestyles, and emphasis on purpose and sustainability, boomers are redefining what it means to age in today's society.

Marketers must recognize the value of this demographic and adapt their approaches accordingly. By understanding the diverse needs and preferences of boomers, businesses can develop effective marketing campaigns that resonate and build long-lasting connections. The future of business marketing and aging is being shaped by boomers, and embracing their influence will lead to success in the years to come.

Generation Reinvention: How Boomers Today Are Changing Business, Marketing, Aging and the Future

by Brent Green (Kindle Edition)

5 out of 5

Language	:	English
File size	:	1060 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	264 pages
Screen Reader	:	Supported
X-Ray for textbooks	:	Enabled
Paperback	:	252 pages
Item Weight	:	14.4 ounces

FREE

Guidance you need to understand and embrace the nations most economically dominant generation. B. Joseph Pine II, coauthor, The Experience Economy and Authenticity

The first book about Boomer men to integrate gender and generational insights into a framework marketers can use. Marti Barletta, author, Marketing to Women and PrimeTime Women

a masterful job of envisioning how Baby Boomer men are about to transform the cultural narratives about aging and maturity. Ken Dychtwald, Ph.D., author, Age Wave and Age Power

Born from 1946 to 1964, Baby Boomers represent 26 percent of the U.S. population. But pervasiveness alone does not capture their story of continuing influence and reinvention.
Boomers have shaped every life stage theyve experienced. With the majority now over age 50, they are again changing business practices and institutions, from dawn of medical tourism to later-life entrepreneurialism. They are still shaping popular culture, from blockbuster films to stadium filling rock concerts.
This book gives you astute glimpses into what it means to be part of the generation. Through this lens youll discover how you can improve marketing communications, product and service development, nonprofit value, and public policies.
A special section looks at marketing to Baby Boomer men, including:

Historical, technological, social, and cultural touchstones;
Underdeveloped ways to combine gender and generational nuances;
New segmentation research about the Boomer male cohort.

The next few chapters of western society will include Boomers as influential protagonists, while Generation Reinvention continues to change the meaning of business, marketing, aging, and consumerism. Accurately forecasting the Boomer future has significant monetary implications for numerous industries.
Some choose to see problems with Boomer aging. Readers of this book will come to see extraordinary opportunities.

Brent Green is an award-winning strategist, creative director, copywriter, author, speaker, and consultant focusing on generational marketing. He is also author of Marketing to Leading-Edge Baby Boomers. He lives and reinvents himself in Denver, Colorado.