Marketing to the Young and Old
For the last 40 years, our marketing mantra has been
“target the baby boomers and success will be yours”. It makes sense,
really. There were so many people born between the mid-1940s and the
mid-1960s that any products targeting this age group benefited by a
large pool of consumers.
We’ve also known, for some time, that these boomers went on to create their own baby boom known as the echo boom. Echo boomers have been growing up and creating waves on their own. The echo boom peaked around 1990. This is why Disney made so many animated movies in the nineties and then stopped around 2000. Until recently, echo boomers were dependent on their parents for discretionary income – they weren’t a consumer force unto themselves. We have known for some time that, soon, echo boomers would have control of their own purse strings and that we’d have to target products and services especially for them. That day has finally arrived and, at the same time, the aging baby boomers are still a huge and thriving consumer group. For many businesses trying to target both the young and the graying consumers, it can leave them wondering, “How do I speak to each target without alienating the other?”
When we speak about “segments” of the population according to their age, we’re really talking about demographics. David Foot, author of Boom Bust and Echo, suggests that demographics are simply based on the notion that “we tend to act our age.” This means that we start school when we’re around age five, go to post-secondary around age eighteen, marry at twenty-nine, buy a house in our early thirties…you get the picture. The original housing surge in the late 1980s was driven by the fact that baby boomers were entering their early thirties en masse and buying homes all at once. The on-coming wedding surge is being driven by echo boomers entering their twenties and starting to marry. The Fairchild Bridal Group in the U.S. predicts that the number of weddings will double from 2006 to 2020. Think about what floral products and services will target the life-stage events of those in their retirement years as well as those just starting out. Sympathy flowers, floral therapy for an aging population while weddings, graduations and new babies for younger consumers all jump out as key opportunities for business growth. While divining the products and services to best target baby boomers, and echo boomers, may be relatively straightforward, tone, manner and marketing venue are another matter.
Baby boomers are products of the golden age of television and rock and roll. Boomers are competitive and somewhat vain – especially about their looks, as indicated by the explosion in cosmetic surgery. To speak to this segment, use traditional media such as print, newspapers, magazines and radio. Remember that even though they may be officially “seniors,” baby boomers still see themselves as trendy and young at heart. Don’t treat them like the tribal elders; it will be a turn-off. “Karma Queens and Denim Dads” are terms used to reference this group’s need to balance their consumerism with their spiritual quest. Many are close to their parents but feel worlds apart from them in terms of their priorities and lifestyle choices. Floral gifts should speak to the spirituality of nature and its inherent beauty. Think “Martha Stewart with a touch of Zen” and you’ll appeal to the frequency baby boomers are transmitting on.
Echo boomers are also known by the moniker “the gamer generation.” Video games are to echo boomers what rock and roll and television were to the baby boomers. Echos were born cable-ready. Gaming has taught them how to persevere and try different tactics to achieve a desired objective. Echo boomers often belong to on-line social networks and the Internet is something woven into their day seamlessly. Virtual friends and flesh-and-blood friends are all part of their daily interaction in a sort of “virtureality.” More of them go on to get a post-secondary education and, therefore, often live away from their families. Sending flowers to family at a distance will appeal to them. Echo boomers are often friends with their parents. Research reports that 54 percent of baby boomers want to be their children’s best friend (Synovate 2005). Use short phrases in your advertising to echo boomers – they’re used to fast messaging. This generation has been looking to Google for answers and they are going to look to the same screen for floral information. Leverage e-newsletters and RSS feeds to send permission-based offers. Hire someone to help you with electronic marketing. The message is not that different from the tone targeting the baby boomers but the medium you choose should be.
Economist David Foot summed up the echo boomer/baby boomer differences as follows; the echo boomer goes snow boarding and the baby boomer dreams of going snow boarding. It’s really about sending similar messages in different ways.
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