For too long, business-to-business marketers have been relying on the same old trope when it comes to identifying the drivers of tech purchases in the office place. Right now, you're probably imagining a bespectacled whiz kid, gangly and pale, and above all else - young.
There are many perspectives on how to effectively market to Baby Boomers. We've shared several in Part I and II of this series. We believe we can roughly divide Baby Boomer behavior perspectives into two approaches. The first emphasizes the objectivity of science and that the customer is considered a rational decision maker. In contrast, the subjective or emotional approach stresses the customer's individual experience and the idea that Baby Boomer behavior is subject to multiple interpretations rather than one explanation only.
Valentine's Day is in the rearview mirror, but Boomers are more romantic all year round than one might think. In fact, one study found that finding love is the #1 New Year's resolution for nearly 60% of single people over 50.
It seems that baby boomers and millennials have quite a bit in common. Both are losing sight of what was once the great American Dream, a home of one's own. In the past few years, home ownership rates have fallen to a historic low. And while millennials are part of the issue, a study by the Joint Center for Housing Studies at Harvard found that the 45-64-year-old demographic saw twice the share of renter growth of younger households.
Influencer marketing is not only the fastest-growing trend in marketing; it's more than a trend and appears poised to become a permanent fixture in marketing and communications planning. 84% of marketers say they will use it in 2017.
These drivers tend to be stage-of-life specific. For example, older people's motivations tend to be qualitatively more experiential and less materialistic than younger people's motivations.
In celebration of the new year, a group of my Boomer friends sat around the fire, chatting over a glass of wine. The topic that dominated the very passionate discussion wasn't politics or sports - it was what to do about Mom and Dad. Nearly all of the friends around the circle were either going through or had gone through some experience of dealing with a deteriorating health situation or the decreasing ability of a parent.
With the latest technologies unveiled this month at CES in Las Vegas, there was plenty of buzz about the newest ways to automate a variety of our day-to-day tasks. Not surprisingly, Boomers are ready to take advantage of these innovative products as part of the surging "do it for me" (DIFM) trend.
Mobile devices have irreversibly altered the consumer path to purchase. Regardless of things like age, gender, location and income, mobile devices give everyone the same ability to connect with the world of information, entertainment, commerce and more.
Millennials have regularly been the subject of misunderstanding, even teasing, due to their unconventional beliefs and practices. Still, since they represent the largest, most powerful generation to hit since the big bang of the Baby Boom, marketers, researchers and planners like me continue to watch this group of consumers with borderline obsession. In my own observations, I've discovered the Millennial generation is not only different than prior generations, it's contagious. Unwittingly, the rest of us are becoming more like the segment we're all trying so hard to figure out. I'm a balding, shining example.