Archive for the ‘Marketplace’ Category

The 6th of 7 critical insights into the Mindset of the Boomer Generation

Thursday, December 10th, 2009

Insight #6 – Boomers are all about health and healthy living

Because Boomers have seen what ill health is like via prior generations, they are starting to feel their own mortality.  It is important to note that they aren’t nearly as concerned with looking young as they are with feeling younger and healthier.  The words vibrant, healthy and vital are all great words to use in your marketing to Baby Boomers.

Carol M. Morgan and Doran J. Levy, Ph.D., in their book Marketing to the Mindset of the Boomers and their Elders break the Boomer Generation down into four Health Segments including: Proactives, Faithful Patients, Optimists and Disillusioned.

Those in the Proactive segment are intensely committed to exercise, eating a balanced diet and avoiding foods high in fat.  They collect information on how to stay healthy and they are convinced that taking such actions will have a positive effect on their health.  Proactives trust the health-care system and they trust their doctors.  They are compliant and will take a prescription drug when directed.

Faithful Patients know what they should be doing to improve their health, but they admit to not taking action.  They don’t take responsibility for their own health and so they turn to doctors, pharmacists and medications to help them get better.  Interested in joining an HMO to cover all of their medical needs, Faithful Patients are the only segment that turns to religion in times of poor health.

Those in the Optimists segment believe that because of good health, great genes and infrequent health exams they are in great health.  Most will tell you that they rarely get sick.  When Optimists do get sick they believe that there was nothing they could have done about it.  They try to avoid taking prescription medications and don’t see the relevance of health care delivered by HMO’s because they believe they have no health problems.

The greatest concern of those in the Disillusioned segment is having insufficient health insurance.  Highly critical of today’s health-care system, they feel alienated from doctors and avoid prescription medications if possible, worrying about harmful drug interactions.  The Disillusioned would like to live a long life and their interest in achieving good health is thwarted by their lack of access to health care.

Understanding the Health segments can help you to better target the consumer who will most need your product or service.  Overall Boomers are very concerned about their health and can be educated on what will help them to age healthy.  If your business is not in the health and wellness industry you can still promote the healthy aging of the Baby Boomer.  Do you use environmentally friendly products when performing your services?  Can you help the Boomer to save money in the future and get rid of mold by installing new plumbing throughout their home?  Do you offer some type of technology that can help people to age in their home or feel more comfortable when out in public?  The creative possibilities for offering the Boomer products and services that will help them to live a healthy life as they age are limitless.  Put your thinking cap on and begin creating!

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Aging in Place – Accessibility, the Boomer and Your Business

Tuesday, October 27th, 2009

hojoMaking your business accessible is great for business!  Make some changes and then tell everyone that your business is fully accessible for all of your customers and employees!  Around the world, the number of people aged 65 and over is expected to almost double in the next 22 years, going from over 500 million now to just under a billion in 2030, according to the US Census Bureau.  Little wonder then that our Retail example, HOJO, a Health and Wellness shop located in France has set its focus squarely on the aging population and the Baby Boomer.

HOJO is one of the first, if not the first retailer with a store front that offers a more holistic variety of about 400 lifestyle products dedicated to keeping the aging population happy, healthy and independent for as long as possible.  On a brick and mortal level, the company’s shop is tailored to its target with such features as wider aisles, price tags with larger lettering and a staff trained in senior issues.  It also offers one-off events for the aging population on such topics as massage, cooking and computers.

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Say Your Business Needs a Marketing Revolution?

Wednesday, October 7th, 2009

The 5th of 7 critical insights into the Mindset of the Boomer Generation

Insight #5 – Boomers don’t care about keeping up with the Joneses – they choose life experience

Although “keeping up with the Joneses” is not important to the Baby Boomer, they will acquire possessions so that they can achieve the experiences they want in life. For example, adventure travel and walking tours for personal growth are both interesting to Baby Boomers, so Boomers will invest in high-end travel clothes, digital cameras, travel education such as learning a language and expensive luggage.

The question everyone in business must ask him/herself is… “how can we enhance the experiential benefits of our product or service?” National Geographic with its Society sponsored adventure vacations called National Geographic Expeditions is a great example of a company designing an experience around what the Boomer is craving.

The company’s marketing via a letter from their President brings a sense of adventure, of expedition, to the would-be traveler “Our explorers and scientists often speak of the rush of adrenaline and the excitement of their discoveries, and their enthusiasm is contagious. There is something inspiring about the first sight of Machu Picchu rising above the mist, or discovering Oaxaca, Mexico, through the eyes of National Geographic photographer David Alan Harvey.

The National Geographic Expeditions adventure options address many of the “travel experience dimensions” sought by Boomers:

· The illusion of high adventure with the physical risks,
· A sense of the exotic,
· The flexibility to include individualized side trips and,
· Turnkey experiences, neatly planned and packages.

As Brent Green would say, what is the “e-factor” in your product or service? Baby Boomers love peak experiences, so get creative and think of how you can foster them through your business. Use story-telling to connect the facts and provide a good, enjoyable experience for the Boomer and you will have a customer for life.

Posted in Attitudes and Preferences, Buying Habits, Lifestyle, Marketplace | 2 Comments »

Say Your Business Needs a Marketing Revolution?

Monday, September 21st, 2009

The 4th of 7 critical insights into the Mindset of the Boomer Generation

Insight #4 – Boomers aren’t true to brands, they just want choices

Believe it or not, the decades old myth that says people select brands early in life and never switch, does not apply to the Baby Boomer.  And, it doesn’t apply to 91% of consumers who say that they don’t care about brand name, what they want is value.  Today, new choices and new brands come along every day, what is important to the Boomers is the value delivered by the brand, not the brand itself.

Boomers want information about new options and they want choices.  Present the information so they are informed and then let them make their own decision.  Because they have been the generation most marketed to over the years, they know all of the marketing tricks and can see right straight through them.

Show Baby Boomers the big picture; they have learned to look at things from a Holistic point of view.  Help them to see how your products or services fit into the more global view of things.  Empower Boomers with options that allow them to express their individuality and give them a complete overview of all of the possibilities.

To put this in perspective, don’t just sell weight training as a way to preserve youth, present aerobics and yoga in the same fitness package.  If you are selling casual clothing, offer all of the layers needed for a change of weather along with the appropriate shoes and accessories to move from casual to more dressy, from warm weather to cold.  When selling a fast laptop, include the power to manage a company while sipping a smoothie at Jamba Juice.  Include everything that is needed in one package, making life easier and you will be well on your way to attracting the Baby Boomer as a customer.

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Say Your Business Needs a Marketing Revolution?

Friday, August 21st, 2009

The first of 7 critical insights into the mindset of the Baby Boomer Generation

Insight # 1 – Boomers want to change the world and they have done it every step of their way.

The Baby Boomers Generation, (Boomers as they are sometimes called) comprised of 78 million people who were born between the years of 1946 and 1964, is the largest generation to be born in the history of the world.  If you had been an observer in 1946 when our men came home at the End of World War II, you probably would have been amazed at how many young women were pregnant!

In the 1950’s as American Companies saw this trend continuing, many decided to capitalize on the “Baby Boom” by awarding stock, cars, money to couples who had their baby on the companies anniversary, sales or other date they deemed relevant.  Parents all over the country had something new to be excited about – would their child be born on this or that important date?

In an effort to try and keep track of the Baby Boom a “census clock” was placed in the Commerce Departments Washington D.C., headquarters.  Multicolored flashing lights on the clock signaled a birth every 7 ½ seconds, a death every 20 seconds, the arrival of a new immigrant every 1 ½ minutes and the departure of an emigrant every 20 minutes.  The result was an increase in population of one person every 11 seconds! 

Baby Boomer Power

Parents, Companies, Churches and Government all have catered to the Boomer’s needs over the years by giving them choices that other generations would never have dreamed of.  Today, a Baby Boomer turns 60 years of age every 11 seconds, and as a result, there is a significant daily increase in the total number of people who are over the age of 60. 

What does this huge demographic shift taking place in our world today mean for you and your business?  Think about ways that you can position your business to help the Baby Boomer Generation change the world (make the world a better place) for those who are aging in place and you’ll be well on your way to developing the Marketing Revolution to enhance your business.  You’ll give it the “Boom” it needs!

 

Posted in Attitudes and Preferences, Buying Habits, Demographics, Family, Lifestyle, Marketplace, Special Needs | No Comments »