By December 31, 2004, all 76 million surviving Baby Boomers will be over age 40. Businesses, non-profit organizations, the media and Madison Avenue are flocking to book stores and workshops to learn how to market to and serve Baby Boomers, those mythical creatures that have changed every decade since they were granted special status in the 60’s as the first wave became new consumers.
Professionals experienced in marketing to middle age and older adults generally believe the growing bevy of experts on capturing the elusive Boomer have very little new to offer. Some Boomer experts paint pictures of a future of continued youth worship (age retarding drugs and cosmetic surgery), rock and roll, renewed anger and protests. Like the older markets of yesterday, much of what is being touted as Boomer fact is fraught with myths and misconceptions about developmental aging.
The sheer size of the Boomer age cohort dwarfed the generation that both preceded and followed it, which is why Boomers have changed every decade as they matured — the sheer force of numbers. While Boomers share common experiences, which must be considered in future marketing strategies, they have not “aged” differently than the Silent, Eisenhower or other generations that went before or will come after.
The typical Boomer, like the typical senior, is as much like other Boomers as a snowflake is typical of others. Like the snowflake, they have shared common circumstances in reaching their current destinations; but each has been impacted differently even though they share core values. Simply put, consumers become more dissimilar as they age, not more alike.
Old marketing rules were effective in the youth-driven markets of the past (1940’s – 1980’s) as Boomers moved through adult life like a pig through a python. Since the 18 – 40 age cohort had grown in every decade from 1492 to 1990, the pros could see no reason to change.
As Ageless Marketing author David B. Wolfe states, “Adults 40 and older are now the majority, and they rule the marketplace – in numbers, in spending, and in determining the rules for successful marketplace engagement.” As leading edge Baby Boomers swell the ranks of over age 50 consumers, learning the new rules will be critical to business growth and perhaps survival.
The real short-term danger lies in the Boomer Myth – that Baby Boomers will be forever stuck in the 60’s, thus condemning them to a life of narcissism. Those that believe the myth rather than the reality will be doomed to declining returns on their advertising dollars, bottom-line erosion – suicide on the installment plan.
Like generations before, Boomer myths and stereotypes contribute to the last bastion of discrimination – ageism. Unlike today’s "seniors," Baby Boomers have their numbers again working in their favor. They are not likely to tolerate the ageism and stereotyping and will once again facilitate change by voting with their pocketbooks.
The first step for business and industry leaders is to abandon the stereotype-ridden “vocabulary of aging.” Terms that carry too much baggage due to years of negative stereotyping (senior, retirement, and yes, Baby Boomers) should be replaced with positive, conditional terms. Those who do will quickly discover that projecting a positive, mindful image of older adults will deliver results.
Businesses pursuing the New Majority must however be aware of aging factoids still being promulgated in workshops. For example, while older consumers “feel” anywhere from 15 to 25 years younger than their biological age, this doesn’t mean they think they “look” 10 to 15 years younger. When models are too young or engaged in extreme sports, the consumer simply dismisses the message as the same old hyperbole. The key is to portray realistic looking people involved in meaningful real-world activities.
The 1970's launched three decades of public and non-profit development of products, programs and services to care for the elderly, defined as everyone over the age of 60. We replaced purpose with pills; productive lives with early retirement packages; personal significance with shallow volunteer opportunities and mindless activities.
During this time, business focused on serving free-spending adults between age 18 and 38. This was where the money was, and business follows the money – or at least those making money follow the money. One popular Boomer fact is that one person now turns age 50 every 8 seconds. In the 60 and 70's, the Baby Boom was generating one new consumer every 8 seconds and every business rushed to serve them.
In the 90's all that began to change as the youth market began shrinking rapidly and the New Consumer Majority was being born. To paraphrase a political metaphor, “it’s the numbers stupid.” When you analyze economic changes, the numbers must be considered in the context that this pig-in-a-python has never been experienced.
The Boomer Myth continues to make for good stories, interesting workshops and debate. The Boomer Reality is that with every 8 seconds, another consumer joins the ranks of the new consumer majority by joining the experience consumers of the Eisenhower and Silent Generations.
G. Richard Ambrosius is marketing communications consultant, motivational speaker and trainer from Orange Park, FL. He has over 28 years marketing and management experience specializing in attracting and building loyalty with middle aged and older adult customers.
For more information on Positive Aging services call
520.229.3503 or e-mail ambro@positiveaging.com.
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