Boom! Yep, we’re still talking about Boomers today. Frankly, we could devote every single day of the next month to them, but don’t worry, we’re not going to do that. I just wanted to get this thought out there into the blogosphere.
Here’s an irony. In the next several years, all the Boomers will be at least 50 years old. They’re the largest population bubble, the most affluent demographic, and have grown accustomed to being catered to. Yet here they are, at age 50, and the media is pitching them youth-oriented shows like “Fear Factor” and “The OC”.
See, TV goes for the coveted 18-49 year olds, the same demographic that used to be the Boomers. Heck, they invented that demographic for the Boomers as TV became a household staple during the Boomers childhoods. Now, they’re on the outside.
Why would television, already suffering from declining viewership numbers to the delight of the internet, abandon this group of people with money and the inclination to spend it? Well, it seems that TV executives are operating under another mistaken stereotype about people of a certain age. Older consumers, they theorize, are less likely to try new brands than younger consumers.
That’s a load of crap.
Several studies have concluded that people over age 50 were just as likely as younger consumers to try a new bank, airline, computer and numerous other categories. And, in fact, Boomers were more likely to try a new brand of cell phone, home electronics and athletic shoes.
As one marketing expert noted, “If Baby Boomers were brand loyal, they would still be buying Thom McAn shoes and shopping in Woolworth stores.” Instead you have Boomers who buy the same clothes as their college-aged children, swap cellphones every six months and trade in cars like cards in a poker game.
Your homework today is to think about this: Are you putting products out there that are missing the prime target? Are you keeping up with the times? Are you helping your customers do the same? How can you encourage people of all ages to discover your brand?