Are you aware there are nearly 74 million baby boomers living in the United States? They account for 71% of our nation’s wealth, and account for more than half of pre-pandemic consumer spending. They account for 51% of entertainment spending and 57% of big ticket purchases including new cars. But, only 10% of marketing dollars are targeted towards the 50+ audience? (AARP study) If you needed a compelling reason, or six, now you have them.
A 2019 Epsilon Study concluded, “Boomers are spending heavyweights due to their population, higher incomes and large family sizes. They spend the most across all categories and the most per transaction, preferring premium brands and stores. But they also have the tendency to spend more than save. As they retire, boomers are investing in travel and their homes, spending more at home improvement stores than any other generation.” Epsilon study
This group has more members reaching retirement every day, and as such, view their purchases as investments. Wealth protection, quality and durable purchases resonate on a higher level as a result. While not digital natives, they are comfortable interacting digitally. But, they also value tradition and strong customer service. They prefer straight talk and concise messaging, so cut the clutter and make your CTA clear and understandable. Highlight customer reviews and experiences of their counterparts, because again security in their purchase is a big deal. Sequel DM
So, how do you start? According to Customer Think (CustomerThink), here are a few tactics you can implement today that produce results:
- Create a seamless offline-to-online experience. Boomers, and every other generation for that matter, don’t want to have to work to find you. Make it easy, by using the same message and a cross-channel approach. Tie your direct mail, email, social and other channels together thematically and with your verbiage and offers. Make your CTA and the response mechanism you choose, easy for them to execute.
- Encourage pickup in store. More than 35% of boomers have used “buy online, pickup in store”, and 2/3 of those said it enhanced their experience. That makes them the leader in this shopping category.
- Be authentic. Generationally, they are aging. With the pandemic, this group was more isolated than Gen X, Millennials and Gen Z. When possible, send personalized messages to them. This group still prefers greeting cards on special occasions, and 70% said they felt valued receiving mail like a greeting card.
If you need help creating a campaign for your target audience, our team is here to help make your next direct mail successful.