• by Seana Mulcahy , January 9, 2006

Over the past couple of weeks, you've heard my colleagues write about their predictions for our beloved online world in 2006. Well, this writer was on holiday from her weekly Monday spot. So instead of beating a dead horse with more predictions, I'm on the lookout for growing target audiences.

If you're a marketer or advertiser, online or offline, there's a demographic you've absolutely got to talk to: Boomers (the generation born between 1946 and 1964). This year many Boomers are turning 60. Do you remember being a kid and thinking 60 was old? Well, it doesn't seem so old anymore. Take a look at some of these folks and you'll see how active they are.

The Southeastern Institute of Richmond (SIR) Virginia is slowly getting the reputation as a Boomer expert. It is working on "The Boomer project." The firm states that one in three Americans today are Boomers. If that's the case, then why have we been spending such an exorbitant amount of money targeting 18- to 34-year-olds?

I'm certainly not saying to ignore that diverse market. However, we might want to shift some of our focus to Boomers. Let's face it, 89 million Americans age 50+ is pretty attractive. That's a whole lot of buying power.

Group members don't see themselves as being "old." Talk to many, and they'll say they feel like 40. Many look younger, too. Boomers don't want people as well as advertisers to view them as old either. Gone are the days of ads with grey-haired people walking slow. Image is critical to Boomers. Marketers and advertisers need to hone in on the emotional connection of their brands.

Although Boomers have been known in the past to be brand-loyal, they are not stubborn. They are just as willing to try new things or possibly even brand switch. One perfect illustration was Fidelity's signing of rock legend Paul McCartney (who will be 64 this year, technically beyond Boomerhood) earlier this year. Many pundits balked at the irony. They asked how an aging British rock star who once sang, "Money can't buy me love" could be a brand ambassador for a financial institution. Well, guess what? The campaign has only been around since the fall of '05 and is already a huge success. Fidelity reported that the ads have garnered the most positive response out of any in the past. Traffic on its Web site has surged as a result.

According to the Center for Media Research and a recent PEW Research Center Study, there are 75 million Boomers. As Boomers turn 60 this year, half are raising one or more young children and two in 10 are providing financial assistance to a parent. It is critical that we try and differentiate Boomers from both their kids and their parents.

Key findings of the study include:

71 percent of today's Boomers have at least one living parent. In 1989, just 60 percent had at least one living parent, according to a Gallup survey.

63 percent of Boomers report that they have at least one adult child (ages 18 and older), and of this group, 68 percent say they are supporting an adult child financially, either as the primary (33 percent) or secondary (35 percent) source of support.

56 percent of Boomers say it is their responsibility to allow an elderly parent to live in their homes if the parent wants to move in.

More than half of boomers who are not yet retired say they expect to "live very comfortably."

While 42 percent of current retirees say that Social Security is their biggest source of income, 49 percent of Boomers who are not yet retired say that a 401(k) or IRA savings plan will be their biggest source of income during retirement.

You've heard me mention Boomers before. They represent a diverse group. They are adventurous, love to travel, and seek adventure. In fact, they'll spend $57 billion on travel this year. National Geographic has paid close attention to this. It has cleverly developed a brand extension called National Geographic Expeditions that organizes more than 100 trips to exotic places each year. Its advertising is mainly focused on active Boomers. Oh, the results you ask? Well, business has already climbed 35 percent. When it comes to marketing and advertising to Boomers online, what are you waiting for?