July 2011 Archives

Baby Boomers Spend 3X as Much as Gen X Online

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"Dot Boom" is a great book by David Weigelt and Jonathan Boeman about marketing to baby boomers through meaningful online engagement. They emphasize baby boomers cite the internet as the most important source of information when making a major purchase as as automobiles, travel, appliances. 

Here is a Fact from Chapter 1:

Gex X
Spent $558 online past 3 months

Spent $1,150 online in the past 3 months 

Forrester 2007 Research Study

"According to eMarketer, baby boomers wield enormous economic clout and are increasingly turning to online and mobile channels for a variety of needs, e-commerce, financial services, travel, health, entertainment and wellness information, news and user generated content"
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Baby boomers are now considered the most powerful consumers in the marketplace. That's a big turnaround because for years, marketing efforts focused on young adults. 
Not Old Yet, Boomers Take Marketplace by Storm - 

David Weigelt, author of the book, Dot Boom: Marketing to Baby Boomers through Meaningful Online Engagement, said that boomers are the fastest growing groups on social media.
"Eighty percent of boomers are now using some form of a smart phone, and we just think that's going to be huge in terms of how marketers reach and engage these consumers," he explained

"I have everything," Salzman, 56 told CBN News. "I have an iPhone. I have an iPad, and I have an iPod. And the reason for that is I love it. I love gadgets."

See full article and best marketing and video yet about boomers health, attitude & wealth:
http://www.cbn.com/cbnnews/finance/2011/July/Not-Old-Yet-Boomers-Take-Marketplace-by-Storm/

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5 Reasons Why Consumers Ages 50+ are Marketer's Choice

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78 Million U.S. Baby Boomers Control 77% of the U.S. Wealth, isn't it time your brand is talking to the boomer consumer online? 
Boomers spend 15 hours per week online doing research, emailing, reading and socializing about their hobbies like gardening, travel, 
quilting, photos, and so much more.

Baby Boomers are: 

• Largest U.S. demographic - 42% of adult population
• Boomer bulge - 84% of Boomers are already 50+
• Buy more - 45% of all consumer goods 
• Most assets - 77% of discretionary wealth
• Most influential - 68% give money to their adult kids
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Sustained gains in ad spending for online search, banner ads, ad networks and social networks and big growth in video will fuel double-digit increases in U.S. online ad spending through 2014, with the biggest gain a projected 20.2% for this year, according to eMarketer. Adding to the trend will be a continuing shift of local advertisers away from newspapers and yellow pages to online.
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Dr. Mary Furlong is a boomer and senior consultant to top brands such as AARP, United Healthcare and General Mills. She recently completed the 8th Annual Boomer Summit in the Spring in San Francisco as well as the Boomer Venture Summit held annually in San Jose. I recommend Mary's book for her many insights, interviews and guidance. No stone is left unturned. I look forward to her next book! "Turning Silver into Gold" is an excellent book for marketers, media professionals and brand managers that seek to understand the baby boomer generation and U.S. market. 

Navigate Boomer Media, Gold sponsor of the 2010 and 2011 Boomer Summit Conference and I have been a speaker or panelist the past few years. The best and the brightest brands and executives gather here to set the trends, learn about the trends and connect with other like-minded executives. There is always a deal or two done at this conference. 

Furlong is the Dean's Executive Professor of Entrepreneurship  at Santa Clara University's Leavey School of Business, and previously founded SeniorNet and ThirdAge Media. Her latest book, Turning Silver into Gold: How to Profit in the New Boomer Marketplace, was published in February 2007. More  information is available at www.maryfurlong.com.       
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Why is Online Advertising Held to a Different Standard?

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Expecting advertisers to click on a banner ad is like expecting a newspaper or magazine reader to turn to a page and suddenly get up buy a car. Why is online advertising held to a different metric than other advertising?

Think about it--TV ads interrupt the energy of a television program, but advertisers don't expect an immediate response.

When we focus exclusively on clicks, we lose sight of 98 percent of the audience that's been exposed to the ads--impressions. Advertising is about building brand through awareness, consideration, purchase intent, with great creative. Eventually online exposure leads to sales, just like magazine, newspaper, radio and TV advertising does. We need to rethink how digital advertising is measured, since it builds brands, leading to increased revenue.
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Navigate Boomer Media has emerged as the largest online boomer media source representing 110 boomer focused sites for advertising and content delivering 1.5 billion impressions per month. We also have email, mobile and caregiver databases with over 200 data segments. We are a transparent online rep firm as opposed to Ad Networks--they don't always share where your ad impressions are published. They also offer sponsorships and content placement, something ad networks can't do very well with an automated system. We are pleased to offer premium placement above the fold and on key content pages. 

The largest categories are travel, wealth, health, automotive, packaged goods, retail, pharmaceutical, books and home builders. Baby boomers purchase the majority of these products. 

We have 10 talented colleagues with sales offices across the U.S. to serve our clients--marketers and ad agencies targeting consumers ages 46-64 online.  

Turns out that advertising agencies can't use Google Ad Planner for their campaigns every quarter because the client or Marketing Director could do the same. So where is the value? It also known that remnant space can be automated--but time and time again we see women's clothing ads on men's web sites--this does not increase conversion.  

At Navigate Boomer Media we believe in good old fashioned custom media plans with content, display, direct all to the same target audience with complete transparency--thereby increasing conversion. Or how about geo-targeting, HPTO's, eNewsletters, landing pages, sponsored content or event announcements.
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Baby Boomers are Healthy, Wealthy & Online

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If you are looking for  baby boomer facts and information about the shift of boomer behavior online you will find them here in our MediaPost articles:

Healthy, Wealthy & Online by Nancy Shonka Padberg

Baby Boomers hold 77% of the U.S. wealth and they spend 15 hours per week online -- two hours longer than teenagers each week. Let's write that again, 77% of the U.S. wealth is held by Baby Boomers and they are online 15 hours per week. Why is that worth repeating? Apparently, there are still a few marketers and media buyers that believe people over age 50 are invisible. How very wrong they are. This is the generation of best-educated, financially healthy, ambitious, curious, creative, social connectors the U.S. has ever seen. 

Read More Here: http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=145394


A Day In The Life of Barbara Baby Boomer by Nancy Shonka Padberg
Barbara, the marketing executive, woke up at 5:30 a.m., grabbed a banana, jumped in her new Buick and headed to Curves gym to use light weights and its circuit training. She remembered to stretch before her workout and was happy with herself that she had committed to going to the gym four times per week since their second child headed for college. She paused in thought and realized they are now officially empty-nesters and this is "me" time. She smiled.

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