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MARKETING TO BABY BOOMERS How to reach the game-changing generation of Aging Influencers ®

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Presentation on theme: "MARKETING TO BABY BOOMERS How to reach the game-changing generation of Aging Influencers ®"— Presentation transcript:

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 TraditionalistsBaby Boomers Gen X-ersMillennials – – – – 89 years45 – 64 years29 – 44 years18 – 28 years

7 Traditionalists Baby Boom Generation Gen X-ers Personal Political Social Ethical Financial Buying Products Reward Allegiance Conservative Law & order Fundamental Save & 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 Situational 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” Source: adapted from Twenty something: Managing and Motivating Today’s New Workforce, Lawrence J. Bradford and Claire Millennials Self-discovery Semi-Liberal Humanistic Moralistic Buy now Have it now High-tech gadgets “We deserve it” Generations & Gaps In Values

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 & Val’s  The leopard can’t 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 + 20X’s faster than Gen X Adoption of new services by generation Accenture study 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 % Use of social network site, increase for this generation, 2008 – % Playing video games on mobile devises, increase for boomers 52% Use of IPod or similar devise for listening to music49% Watching videos on on the internet36%

15 For the third sector...(and others) Big-spending Boomers bend the rules of marketing…because - 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

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 >$75K  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 — let’s 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 ( ). 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  /DM Marketing  Contact lists  Customer service/involveme nt

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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