Understanding Life Cycles Will Increase Sales
Baby Boomers are spending more time online each week, 15 hours vs. a teenager's 13 hours per week. Overall, digital advertising will receive an estimated 22% of marketer's overall marketing communication budget, according to eMarketer in 2012.
Baby Boomer Transitions
From ages 48 to 66, Baby Boomers will experience more life transitions than at any other time in their lives. This means opportunities for brands and marketers to engage Boomers and build their brand promise in Boomers’ hearts and minds. The promise should have one or all of these key elements:
- We make your life better.
- We make your life easier.
- We understand you.
One or more of the following Baby Boomer life transitions are eminent as well as marketing opportunities.
Largest Transfer of Wealth
- Physical rejuvenation
- Luxury Travel
- Automotive (dream cars include Porsche, Mercedes, Corvette)
- Second homes
- Health - spa, trainers, home gym
- Pets - especially dogs for companionship
- Pursing passions
- Pursuing education
- Pursuing volunteer opportunities
- Decorate home
- Create home office
- Travel services
- Need time
- Need support
- Need pampering
- Need time off
- Special offers for caregivers
- Condo sales
- Active adult living sales
- Wealth management
- Travel by age
- Girlfriend getaways
- Travel (cruises, theme, adventure, education)
- Gifts for grandkids
- Savings accounts
- Hip or knee replacement
In addition to brands positioning themselves as being helpful, web sites are providing invaluable resources and building their brands in the hearts and minds of Baby Boomers and Seniors. There are many sites today where Boomers are seeking information and pursuing their passions.
For instance, when Boomers become empty-nesters, they need information on gardening, golfing, traveling, health issues, spending time with grandchildren, and redecorating.
Take time to understand Baby Boomers’ life cycles because they hold 70% of the U.S. wealth and mostly because you will help your product, service or client increase sales.