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Marketing to Baby Boomers

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Marketing to Baby Boomers How to reach the game-changing generation of Aging Influencers * New and old marketing tools Marketing tools go in and out of fashion Do ... – PowerPoint PPT presentation

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Title: Marketing to Baby Boomers


1
Marketing to Baby Boomers
  • How to reach the game-changing generation of
    Aging Influencers

2
Learning Outcomes
  • Learn the demographic and geographic
    characteristics of the Oregon Boomer
  • Discover marketing tools (low or no-cost) at your
    fingertips
  • Understand the best tools and tactics for your
    marketing and outreach campaigns  

3
Using data for your campaign
  • Captures comprehensive and historical information
  • Uses existing information (fast and free)
  • You can use it RIGHT NOW
  • Please try this at home (okay, your desk)

4
Methodology used for 2012 report
  • Secondary analysis of national data (115,000 MA
    participants) 2012
  • CMS data for Oregon 273,000 (65-69) 2010
  • Pacific Northwest 2012 lifestyle and trend
    analysis
  • SRI values, attitudes lifestyles 2012 survey

5
2012 Marketing to Aging Influencers
  • Trends and milestones
  • that define our target
  • Pacific Northwest segmentation findings

6
The Generations
  • Source Generational Learning produced for CMS
    June 2009

Traditionalists Baby Boomers Gen X-ers Millennials
1920 - 1944 1945 1964 1965 1980 1981 1991
65 89 years 45 64 years 29 44 years 18 28 years
7
Generations Gaps In Values
Traditionalists 1920 - 1944
Baby Boom Generation 1945-1964
Gen X-ers 1965-1980
Millennials 1981 - 1991
Personal Political Social Ethical Financial Buying
Products Reward
Allegiance Conservative Law order Fundamental Sa
ve pay later Based on necessity Tools, homes,
cars, home appliances I earned it
Self-discovery Liberal Altruistic,
humanistic Moralistic Buy now, pay later Have it
now Clothes, entertainment, travel You owe me
Self-oriented Pseudo-conservative Competitive Situ
ational Almost hopeless The one with the most,
wins High-tech gadgets For work and fun I want
it, but may not be able to get it
Self-discovery Semi-Liberal Humanistic Moralistic
Buy now Have it now High-tech gadgets We
deserve it
Source adapted from Twenty something Managing
and Motivating Todays New Workforce, Lawrence J.
Bradford and Claire
8
2012 Marketing to Aging Influencers
  • Findings
  • Geographic considerations
  • Economic considerations
  • Consumer data
  • Marketing take-homes

9
Boomer milestones (VALs)
  • VALs values, attitudes lifestyles
  • Born 1946 1964
  • The Kennedy years
  • The Vietnam war
  • The Summer of Love
  • The 2.0 of grassroots organization
  • The power of the group AND the individual
  • This was the bulk of our population in 1981

10
Boomers Vals
  • The leopard cant really change spots
  • Largest consumer force in the US
  • Lifestyle defines consumer attitudes
  • 1981 refinancing mortgages
  • 2012 reverse mortgages

11
The boomers in 1981(ages 30 34)
12
Boomer growth in millions 65
U.S. Census data sources
13
Aging Influencers
  • Use of technology
  • Want things their way
  • Buy now, save?
  • Active and knowledgeable consumers
  • 12/2029
  • Dylan (Thomas)

14
Boomers 20Xs faster than Gen X
Adoption of new services by generation Accenture
study 2009. Accenture is a global management
consulting, technology services and outsourcing
company, with more than 249,000 people serving
clients in more than 120 countries. Numbers
reported represent percent changes in this
generation and compared to adoption by Gen. X (29
44 years of age).
Blog reading, increase for this generation
between 2008 and 2009 67 Use of social
network site, increase for this generation, 2008
2009 59 Playing video games on mobile
devises, increase for boomers 52 Use of IPod
or similar devise for listening to
music 49 Watching videos on on the
internet 36
15
For the third sector...(and others)
  • Big-spending Boomers
  • bend the rules of marketingbecause
  • - USA Today, 2010

16
Use of technology
17
Want things their way
18
Buy now, save??
19
Active consumers (service me)
20
Dylan (Thomas)
DO NOT GO GENTLE INTO THAT GOOD NIGHT RAGE,
RAGE AGAINST THE DYING OF THE LIGHT.
21
12/2029
22
Reality check
  • Economic times
  • Legislation
  • Socio-economic considerations

23
Legislative Milestones
  • Medicare signed into law 1965
  • Cost of Living Adjustment (COLA) payments begin
    1975
  • National Retirement Age (NRA) increased to 67 in
    1983
  • First year of no COLA 2009 (will be paid in 2012)

24
Socio-Economic Considerations
  • Cuts in standard of living
  • Working longer
  • Role of state and other support is changing
  • European debt issues
  • Election year (information clutter media )

25
(No Transcript)
26
Unforeseen Economic Issues
  • Adult Children at home national sources including
    US Census and Huffington Post (2010)
  • Lower wages for all
  • Lack of job opportunities
  • Source Huffington Post (2010), U.S. Census

27
Geographic segmentation PNW
  • Pacific Northwest
  • Urban communities
  • Suburban communities
  • Rural

28
Urban segment highlights
  • Aging in place
  • High school diploma, 24 bachelors or beyond
  • Married, same home for 20
  • If still working, they engage in professional,
    technical services, combined income gt75K
  • Upscale hobbies esp. gourmet foods, gardening,
    decorating and travel

29
Urban segment highlights
  • Adult children (30) living in their homes
  • Like outdoors, travel, fitness, sports
  • On-line shopper, use home delivery services and
    major credits cards
  • Support social change, vote, volunteer and engage
    in charitable giving (i.e. the environment)

30
Suburban segment highlights
  • Aging in place
  • High school diploma
  • Married, same home for 20
  • If still working, they engage in professional,
    technical services, combined income around 75K
  • At-home hobbies esp. cooking, gardening,
    decorating, trend toward domestic vs.
    international travel

31
Suburban segment highlights
  • Live with adult children (as high as 35)
  • Like outdoors, travel, fitness, sports
  • More traditional lifestyle, values
  • Church involvement that includes charitable
    giving
  • Heavy computer use, on-line shopper, also
    mail-order all with major credits cards

32
Rural segment highlights
  • Aging in place
  • Some high school
  • Married, same home for 20
  • Higher percentage retired because of lifestyle
    illness or work injury
  • Income less than 75K
  • At-home hobbies esp. cooking, crafts, gardening,
    decorating
  • Domestic travel if any at all (visiting relatives)

33
Rural segment highlights
  • Adult children (caretakers?) living in their
    homes
  • Like outdoors, travel, fitness, traditional
    sports (fishing)
  • Higher church and local social network
    involvement, very limited charitable giving
  • More traditional lifestyle
  • Computer use, on-line and mail-order shopper
  • Prefers pay-as-you-go over credit cards

34
New and old marketing tools
  • Marketing tools go in and out of fashion
  • Do-it yourself research
  • Tools and tactics
  • Campaign checklist

35
Marketing trends
  • Predictive modeling lets call it data analysis
  • Eric Siegel, Ph.D.,
  • Data mining for competitive advantage
  • What can you do with the lists you have
  • Buying behavior, retention, forecasting
  • How it works
  • Compare, contrast, zip code zoning
  • Make friends with the tax assessor

36
Lifecycle Marketing
  • Lifecycle marketing aka Nurture marketing
  • 9x more value from their marketing efforts
    (email). Email marketing alone cannot power your
    lifecycle marketing.
  • Attention
  • Interest
  • Desire
  • Action

37
Marketing tools to use
  • Press releases
  • Cross promotion
  • Digital print
  • Events
  • Grassroots outreach
  • Calendar listings
  • YouTube
  • Social media
  • Websites
  • Email/DM Marketing
  • Contact lists
  • Customer service/involvement

38
Your campaign checklist
  • Strategy - the overriding approach to achieve the
    objectives
  • REALISTIC objectives
  • Tactics - how does each tool fit into the total
    program
  • Staffing resources - who and how much?
  • Calendar - reviewing and measurement to delineate
    key milestones

39
Recap
  • Aging Influences and the Internet
  • Customer service is king (or queen)
  • Realistic goals
  • Multiple tools and tactics

40
Special thanks to
  • Diane M. Childs of the Oregon Department of
    Consumer Business Services who inspired and
    help shape this report.

41
Q A
  • Thank you!
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