December 2011 Archives

There are 78 Million U.S. Baby Boomers - Holding 70% of U.S. Wealth

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Baby Boomers were born during the years of 1946-1964 - all 78 million of them in the U.S.  With the increase of Baby Boomers entering retirement age we will observe a need for more services to communicate and help them make informed buying decisions. I am thinking glasses, caregiver services, retirement communities, education and adventure travel opportunities, automotive deals, technology, wealth services and better health options. 


Although most of the Baby Boomers are entering retirement age, most plan to work though their retirement. With the increase living cost and inflation of the economy, many Baby Boomers do not see themselves retiring anytime soon. Many of the Baby Boomers are part of the Sandwich Generation. Sandwich Generation is identified as a generation of people who have to care for their parents while also supporting their own children. Besides the need of having to take care of their parents and children, many Baby Boomers also have to think about financial planning for late life. 


The key to influencing Baby Boomers with your brand and engage them in your message is to solve a problem. Baby Boomers are going through many life transitions - Caregivers, Grandparents, Divorce, Empty-nest, Loss of Spouse, Down-Sizing. How can your brand help them? The woman holding the power of the purse and makes or influences 80% of the household decision is over the age 45. Baby Boomers hold 70% of the U.S. wealth and will inherit trillions more. 

Mediapost Article by Nancy Shonka Padberg, December 19, 2011

Now that I have your attention, let's look at this enlightening data from a marketing perspective. This result is from a Harris Interactive survey of 2,000 adults in October 2011 on the behalf of GameHouse. There is much discussion around the billion-dollar gaming industry and how to understand and connect with the target audience. Surprise -- online gamers are comprised of 55% women with the majority over the age of 35. They tend to be happier, engaged socially online and apparently have more sex.

Women Gamers Stats Harris Interactive: 

                64% are over age 35

                61% play between 8 p.m. and midnight

                86% socialize once per day online

                57% have sex once per week vs. 52% of non-gamers

                61% play to relieve stress

                58% play to alleviate boredom and take a mental break

Let's take a look at one of our website partners, Winster.com. It offers many free multi-user games that encourage collaboration instead of competition, strengthening social networks while promoting positive social interaction. A recent 2011 survey of their registered players returned 8,000 responses with the average age of 50. The top reasons for playing social games was for social interaction, to relieve stress, relax, and enjoy mental stimulation in a friendly gaming environment. The Boomer women stats are in alignment with the Harris Interactive survey.

Winster.com Survey Findings:

                70% of players are ages 45 and up

                80% of players are women

                57% of players are between 45-64 years old

                83% of players have made at least one friend

                77% of players play more than one hour a week

                37% of players play more than five hours a week

                87% of players play from home

The panel I am speaking on at the Consumer Electronic Show's Silvers Summit Jan. 10 is about the online gaming industry. The gamer panel includes Randy Paynter from Care2, Asi Burak of Games for Change and Fred Howard of Kingsisle Entertainment. Together, we will uncover the facts and stats of this growing industry and dismiss the myths and misconceptions of Boomers and seniors. Attendees and astute marketers will also better understand the key female target audience economic strength, who makes or influences 80% of the household decisions and one of the ways to reach her online.

Marketers and ad agencies always ask us for new online ideas - beyond the banners. Some of the unique online advertising programs we utilize is integrating brands into games, pages, video and content on our 140 site partners. The questions marketers should ask include: Is my brand reaching and engaging baby Boomers online where they spend their time on a trusted site with relevant content? Is this custom program scalable? Will my brand be in a premium position?

Whether its gaming, gardening, grandparenting, socializing, quilting, chatting on auto sites, learning about finance and wealth strategies, reading about health issues or planning the next big trip - the fact is Boomers/seniors are on that site by choice. They have a relationship with the site, content and in some cases other members.

Boomers are online 15 hours per week vs. teens' 13 hours per week and hold 70% of the U.S. wealth. No wonder Boomers are online so much, sites are improving their content, have an authentic voice, offer relaxation, stimulation, health benefits, empowerment and an added bonus - a better sex life!

           

 

US Ad Spend Up 1.5% Year to Date

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Total US advertising expenditures in the first 9 months of 2011 increased 1.5% from a year ago, finishing at $104.7 billion according to December 2011 Kantar Media. Proctor & Gamble maintained its number one position by spending $2.1 billion dollars. The largest categories of spending was topped by Automotive with $9.9 billion spent. Cable networks and Network TV saw increases but Internet advertising expenditures continue to soar. General Motors spent $1.8 billion on search and display banner campaigns up 11.1% from a year ago. 
A recent study by comScore shows that digital advertising creative execution had four times the impact of the media plan on overall campaign results. The research firm analyzed the results of 396 online campaigns and found that creative execution accounted for 52 percent of the results, while the media plan was responsible for 13 percent and other contributors accounted for 35 percent.   

Digital Marketers are Taking Notice of Baby Boomers Online

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Digital Marketers and Advertisers are taking notice of U.S. baby boomers. Perhaps out of their size - 78 million of them ages 46 - 64. Perhaps out of buying power as they have 70% of the U.S. Wealth. Perhaps because Women ages 50 + influence or buy for three generations - their children, their own family and their parent's household. Here are some additional boomer facts to note: 


Boomers Spend 15 hours per week online 

8 of 10 Boomers own their homes

At the close of 2010 40% of the U.S. population were boomers 

Boomers buy for 3 generations 

•    Women 50 + make or influence 80% of buying decisions 

Boomer spend 3x as much online than other demographics


Boomers play many different roles, grandparents, caregivers, spouses, empty-nesters, mothers, fathers, most importantly all are influencers and are busy. They are also online saving time and money. This is a time when boomers can also explore their passions. They spend time on garden, quilt, craft, fishing, health and travel sites. Boomers are purchasing the most wealth, health, travel, technology, auto products and services. Yes, marketers are taking notice to earn their share of wallet, because if they don't -  their competition will. We are seeing increased interest, meetings and media buys across our boomer and senior web sites. 



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This page is an archive of entries from December 2011 listed from newest to oldest.

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