 |
 |
|
"Koeppel Direct's media buying expertise has played an integral role in making my company successful. Koeppel generated so much business for our company, occasionally we have to limit their media buys, in order to handle all of the new business." | |
| - R. Gregg Marketer of Senior Products |
|
MEDIA BUYING DIRECT RESPONSE TELEVISION (DRTV) ARTICLE ...... |
Understanding and Effectively Targeting Baby Boomers
By: Peter Koeppel
Published: 03/06 |
| |
There are 78 million baby boomers and they represent over 27% of the U.S. population,
make up 46 million households and have a combined estimated spending power of $1 trillion a year
according to Business Week and Time. Those are numbers that any savvy marketer cannot ignore.
There are many misconceptions about boomers, so understanding more about this generation is
critical, since they represent such an important segment of the population.
Boomers were born between 1946 and 1964 and half are 50 or over and they start turning 60 this
year. Now that the average life expectancy of Americans is over 77 years, many now think of 50 as a
time to restart their lives. Boomers over 50 are not anxious to retire. Fewer than 20% see themselves
as totally stopping work and 81% of boomers expect to keep working past 65, according to a recent
Merrill Lynch & Co. survey. Many plan on starting a new career, such as a home based business or
working as a consultant in their field.
Until recently, many advertisers and media buyers felt that the over 50 market was not worth
pursuing. They focused on the 18-49 year old marketplace. Now many are beginning to realize the
spending power of boomers. They also are realizing that boomers are experimenters and are not
locked into specific brands. In fact, they are more willing to switch brands than other segments
of the population.
Boomers are also interested in living longer. A Time article stated they fully expect to live to
100. They also want to live better, so when marketing to boomers it's important to focus on
wellness and understand that healthy foods and supplements are important to this group, according to
Business Week. Boomers aren't obsessed with being young again, so ads targeting them don't need to
feature people in their 20's. They are comfortable with aging, but they want to look and be healthy,
and it's important to communicate the health benefits of products boldly and precisely and to not to
use vague advertising claims, such as fortified with vitamins and minerals or fast pain relief,
according to Business Week.
Products and services need to be adapted for boomers. For example, Best Buy realized that boomers
are interested in learning about the latest technology, but that it may take them longer to adapt
to that technology. So they created the Geek Squad, which is a 24 Hour Computer Support Task Force,
which sends trained technicians to your home to help with computer and network support related
issues. Boomers want to use iPods and the latest electronic gadgets, but they weren't raised
with the same technology as generation Y, so they need help understanding and using the latest
high tech devices.
Boomers are comfortable with aging and marketers need to understand this if they plan to effectively
target this audience. Marketers who take the time to research this lucrative audience will reap the
rewards for many years to come.
Peter Koeppel is president of Koeppel Direct, a leading infomercial and direct response media buying firm.
Click Here to view the entire article
|
| |
|
|
|
