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Marketing and Motivating Boomers and Beyond

Archive for the ‘Boomers’ Category

Mature Marketing Links of the Week – 5/21/12

Monday, May 21st, 2012

“The learned is happy, nature to explore; The fool is happy, that he knows no more.” – Alexander Pope (born on this day, May 21, in 1688)

The Creating Results team is happy to each week explore and deliver to our friends/followers those resources which help us all learn more about our targets: mature consumers. Now, time to learn what links “clicked” last week with those who share our passion for baby boomers and beyond.

1. MOST SHARED: 5 reasons email is ideal for creating loyalty with baby boomers and seniors: http://bit.ly/KrqOQq

2. MOST CLICKED: That terrifying moment you realize: You are old. – http://bit.ly/LtWREf Insights from Dr. Carol Orsborn, writing for the new Next Avenue.

3. MOST IMPORTANT: Marketers should be aware of a new “generation gap:” Debt.

The average American carries $78,030 in debt, reports Experian. Last week they shared details on who owes what by generation. The news isn’t good for Gen X, which has the highest amount of debt and low credit scores. Baby Boomers “tend to be equal to or under the national average in nearly every category with the exception of their second mortgages, which is proportionally 23 percent higher than the national average,” the study found.

It was especially interesting to see the breakdown by age group and debt type. I was surprised to see that what Experian calls the Greatest Generation (which seems to be anyone older than a boomer, which would include the Silent Generation as well) had the highest percentage of bank card debt – 43% above the national average.

Read the whole article at: http://bit.ly/KrrEwm

Debt and aging. Which do you think your 50+ prospective customers fear most? Does your marketing reference these fears or challenges in any way? Please share your thoughts using the comments tool below.

Mature Marketing Links of the Week – 5/14/12

Monday, May 14th, 2012

We hope everyone had a wonderful weekend honoring the mothers in their lives. (Or being honored; that’s nice, too!)

Two quick stats on moms:

My mother, Patricia Read, was an "older mom"-trendsetter. She had me at 38. Today she supports an adult child & several grandchildren financially.

1) Mothers today are older and better educated, compared with mothers a decade ago. Roughly 7,500 women gave birth at age 45 or over in 2008 and an increasing number of those women who have their first child after 35 don’t stop with just one.

2) MetLife found that nearly 80% of women of all generations have the desire to be able to give more financially to children or grandchildren. More than half of boomer moms are supporting adult kids financially today.

Marketing take-away: Check your assumptions about 50+ women being “empty nesters” with newly liberated wallets at the door. Be sure you really listen to your prospect and understand their personal situation.

 

Now, on to our weekly round-up of top baby boomer and seniors marketing links, resources and articles.

1. MOST SHARED: Our post on “Re-Thinking Retirement – 6 Lessons for Marketers” was re-tweeted and shared widely last week. Those lessons aren’t unique to retirement communities. We’d love your thoughts on how your organization is responding to the re-invention of that lifestage called retirement.

Read the post/add your comments: http://bit.ly/IR6PtO

Related post with a senior consumer perspective, courtesy of North Hill retirement communities: http://blog.northhill.org/?p=1480

2. MOST CLICKED: Baby boomers appear to be sacrificing their own retirements for the sake of their (adult) children. As the Wall Street Journal reports,

Ameriprise Financial in 2007 surveyed three generations—boomers, their children and their parents—and learned that less than half of boomers (44%) were trying to save for retirement while also providing support for their children and parents.

Fast forward to December 2011: The portion of boomers saving for their own retirement has fallen to one in four (24%)—but they’re still helping out their families. More than half (58%) are assisting their aging parents, including helping them pay for groceries (22%), medical expenses (15%) or utility bills (14%).

“It’s disturbing that people are still providing the same, intense level of support, up or down, and they’re five years closer to retirement,” says Suzanna de Baca, Ameriprise’s vice president of wealth strategies. “This is not registering with boomers.”

Read the full article: http://on.wsj.com/J4l8Pm

Chart from OptiRate based on Harris Interactive survey data:

Also re-tweeted repeatedly, two quotes that seem to have struck a chord with followers and blog readers:

- “A tweet is like toothpaste – once it’s out, you can’t put it back in the tube.” ~ www.scrambls.com via the Social Media Insider (Twitter “handle” @socialmedia411 and worthy of a follow)

- “Plan your life like you’ll live to 100. Live your life like you’ll die tomorrow.” Jim Firman of the National Council on Aging

 

Mature Marketing Links of the Week – 5/7/12

Monday, May 7th, 2012

Your weekly digest of the tweets/links/resources that received the most clicks/shares/attention last week on Twitter/LinkedIn/Google+.  (Ever wonder how the AP and Chicago style mavens feel about the forward slash?)

NPR listener Yoshiko Okuyama’s 20-year-old son and her 82-year-old mother.

1. MOST CLICKED: NPR’s comprehensive look at elder care, including the true cost of at-home caregiving for elderly parents, how to prepare yourself financially, and some of the emotional highs/lows of living in a multigenerational household.

This series has been quite powerful, combining the latest facts and figures with personal stories. NPR’s community also has responded strongly; you’ll find many insights in the comments.

Listen to and see charts from the series: http://n.pr/IgLPuV

2. MOST SHARED: Three resources that paint a more complete picture of our baby boomer and senior targets:

- Women over 65 use home health at higher rates than men, finds the CDC. ow.ly/aDM7q

- 71% of #babyboomers / #seniors say we need a return to more privacy online (a reminder that our Social Silver Surfer research found there were three distinct types of privacy issues that concern matures). ow.ly/aBVVo

- By the numbers: characteristics of seniors living in CCRCs & residential facilities (Senior Housing News). ow.ly/aEiHZ

3. MOST FUN: Who took the Fig out of Fig Newtons? Find out what baby boomers had to do with the name change of a beloved brand.

Read the article: http://nyti.ms/J6M6Xq

 

Also of note …

- Six ways to improve your YouTube marketing, especially … Make the videos short! As this blogger writes, “Long Videos – Nobody Watches Them.” http://bit.ly/Lu2S2w

- Aging tech expert Laurie Orlov takes the long view, noting that most (59%) of older adults are still not online. http://bit.ly/IRIH8z

 

At Creating Results, we appreciated Laurie’s call to do your own research when others lump together large age bands or overlook 50+ers altogether. We’ve done so several times, as readers of this blog know. Please help us shape our next initiative. Share your priorities in this two-question survey: http://www.surveygizmo.com/s3/893869/Spring-Newsletter-Content-Matters-Survey

As You Like(d) It – Mature Marketing Links of the Week – 4/23/12

Monday, April 23rd, 2012

It’s Shakespeare’s birthday! In his honor, a themed run-down of the top baby boomer and seniors marketing links and resources of last week.

1. MOST SHARED: As the number of baby boomers now eligible for “senior” discounts swells, this traditional marketing tool is under fire.

Some critics wonder why older generations deserve a price break when younger generations are struggling more. There’s also the question of affordability: Will businesses keep cutting prices for seniors as hordes of baby boomers push into their 60s?

“This is a huge influx of people,” notes Margaret Lynn Duggar, a consultant in Tallahassee, Fla. “It’s one thing if [senior discounts] apply to just 5 percent of the population, and another if you’re talking about 35 percent.”

Could senior-discounting go the way of the blue-plate special or dish night at the movie theater? “I can’t imagine that five years from now any senior discounts will still be available,” says Ken Dychtwald, founder of Age Wave, an Emeryville, Calif., consulting firm specializing in the mature market. “It’s silly to give the most affluent segment of our society [an age-based] discount.”

The Bard says: “How quickly nature falls into revolt When gold becomes her object!”

Read the article: http://bit.ly/Jl1Lh7

2. MOST CLICKED: Six ways PURLs (personalized URLs) can increase the virality of your campaign. We noted that we like PURLs for baby boomers because they impart a VIP feeling – something that jives well with the boomer mindset.

The Bard says: “What’s in a name? That which we call a rose By any other name would smell as sweet.”

Read the article: http://bit.ly/IrzTIu

3. MOST COMMENTED: This public service announcement quickly the social media world a-twittering. SaferSex4Seniors.org has a serious mission – to promote the use of condoms and safe sex by older adults. (The STD rate among baby boomers and seniors has doubled in the last ten years.) When sharing on our Facebook page, we wrote that it was a fun ad that recognized and celebrated seniors as sexual – finally! Several commented it was a little too much celebration for their comfort …

Here’s the PSA:

Dr. Pepper Schwartz of the AARP said: “It’s a bit racy (some of those positions take some gumption) but oh so welcome.” My CFO said: “What in God’s name were you thinking posting that video?”

The Bard says: “Why then, can one desire too much of a good thing?”

What do you say? Please share your thoughts in the comments below.

Mature Marketing Links of the Week – 4/16/2012

Monday, April 16th, 2012

Happy Monday!  Last week was a hotbed of social activity—here are the top tweets, shared links and general insights that garnered the most attention for marketing to boomers and seniors.  Enjoy!

MOST CLICKED:  Top Five Regrets of Dying What would your greatest do-oever be as you faced your last day of life?  This touching article from the guardian included insights from a palliative nurse regarding her patient’s biggest regrets as they faced their final days.  Number 1 on the list: following their dreams.  Click here to read the full story.

MOST RESOURCE-FULL POST: Ragan.com’s 50 (mostly) free social media tools for brands.  Great article that includes a variety of tips and tools for managing your social media initiatives.  Our top pick from the list? Love the recommendation of SocialMention.com for real time listening to what people are saying about your brand.

 

 

GOOD-TO-KNOW POST OF THE WEEK: 1 in 4 people will abandon a website that takes more than 4 seconds to load. This great infographic includes a variety of great insights about how people utilize the internet.  Other interesting facts included:

  • In the US: 25% of mobile web users only browse using their phones
  • According to 1 survey people wouldn’t wait in link for ANYTHING for more than 15 minutes.

Want to learn more Boomer and Senior attitudes towards everything social media?  Download a complimentary copy our Social Silver Surfer eBook.

WORTH REPEATING: Loyalty is the key ingredient to a successful email program. Explore 5 elements to creating (and leveraging) email in this blog post: It’s Loyalty My Dear Boomer, Email Loyalty

 

Mature Marketing Links of the Week – 4/9/12

Monday, April 9th, 2012

I hope everyone had a wonderful weekend, celebrating Passover, Easter or the spring sunshine with family and friends! Now that I’ve overdosed on Peeps, it is, appropriately, time for the tweets of the week – last week’s top resources and insights for those marketing to baby boomers and beyond.

1. MOST CLICKED: You never know what will catch the attention of Twitter, LinkedIn and Google+ followers! We were sharing about the True North Documentary Film Series, an exciting event that one of our CCRC clients – North Hill – is presenting this week in the Boston area, and one of the films mentioned racked up the clicks. “My Name is Julius” will be shown tomorrow in Needham at 10a. It’s a short film about a 100 year old man who despite a profound hearing loss is completely engaged in his community and staying young while getting older.

6 films will be shown in all at the True North Festival. Details and RSVP at http://truenorthevolution.org/documentary. Hope to see some Boston-area friends there!

2. MOST SHARED: Chief Economist Dave Crowe discusses this month’s Improving Market Index in a video from the National Association of Home Builders (NAHB). 101 metropolitan areas are said to be improving. 101 metros means about 25% of all metros in the US are “showing consistent improvement for over six months in three items: in house prices, in building permits, in prices,” said Crowe. This is 7 straight months of improvement for this index which makes Crowe and the NAHB feel encouraged. See the whole video at http://bit.ly/HX1DVn

3. This interactive chart (via Jamie Carracher) shows what percentage of people have used social media to get health info, by age: ow.ly/a5xJM

4. What marketing channel can engender baby boomer loyalty? Email expert Beth Rand tells us “It’s Elementary, My Dear Marketer:” http://ow.ly/a4Xxh

5. 50 (mostly) free tools for social media management, research, curation and more: ow.ly/a4xCJ

Pair that link with this one – 50 ideas for social media content ow.ly/a1nQq – and you’ve got 100 reasons to recommend this blog to a colleague, client or friend.

It’s Loyalty, My Dear Boomer…Email Loyalty

Wednesday, April 4th, 2012

Email marketing consistently seems to be a hot topic around the water cooler at our agency. We talk frequently about leveraging email to reach boomers and seniors, especially for the best way to use it for our continuing care retirement community and 50+ housing clients.  We know it works because we’ve done extensive research on the topic and see great results with many of our clients.

While retail brands have the benefit of built-in special offers and deals they can use to engage, those brands that are selling something different, such as lifestyle and home, tend to face a few challenges in making their email programs as effective.  As an email expert people will ask me “but why does it work” or “what’s so special about email?”  To answer these inquiries I simply channel a response of super sleuth Mr. Sherlock Holmes: “It’s Loyalty, My Dear Marketer.”

What are some key elements that enter into the mix to create loyalty for boomers and beyond?

#1: We found through our Social Silver Surfers research that email is the #1 online activity among 50+ prospects.  The fact that they are using email makes it a viable channel (as long as marketers use it for good and not evil). Additionally, older boomers tend to view email as a social sharing tool.

#2: A recent article from eMarketer  reveals 47% of Internet users respond favorably to email – ranking this avenue as the most favorable online channel.

#3: The mature consumer relies heavily on referrals from friends when making decisions.  While they may act faster when the referral is for a product, the referral process is just as important for relaying positive referrals for CCRCs and active adult communities.

#4: Relevancy is the key currency when it comes to building a loyal email subscriber database. In a world where we are constantly bombarded by messaging, those that specifically address our interests are going to win out.

If you capture preferences of subscribers based on the type of news they want to receive for your community you have a powerful tool for creating relevancy, and thus loyalty.  This can be achieved by sending emails about new home models to subscribers BEFORE releasing online (relevant and exclusive) or extending an invitation to upcoming events to your database BEFORE you invite the general public (exclusive). Here you’ll see an example of some simple categories for subscribers to choose from.  Any of these can be turned into a segmented message to drive relevancy.

#5: Just this morning eMarketer reported on the reasons people subscribe to email programs. It confirmed what we heard when interviewing mature consumers for our Social Silver Surfer research: the primary motivator is discounts and special offers (our research of boomers and seniors found 21% of respondents saw this as the top benefit).

Reasons why people subscribe to emails - eMarketer

According to the eMarketer piece, 26% of people subscribe to gain access to exclusive content (see point #4- I told you so).

Check out the full article via eMarketer.

You can transform your news into a special offer.  This, combined with relevancy is the perfect mix for a loyal mature consumer who will subscribe to your email program (and stay).

What do you do to engage your silver surfers through email? Share your thoughts in the comments section, below.

Mature Marketing Links of the Week – 4/2/12

Monday, April 2nd, 2012

Welcome, April! And welcome, readers, to our round-up of the most popular tweets/links of the past week.

1. MOST CLICKED: “Instant America” is holding people’s attention. This infographic with stats on how long people are willing to wait for a website to load (among other things) was the most clicked link this week.  See the infographic: http://ow.ly/9Ke41

2. MOST SHARED: A study of Canadian Zoomer (baby boomer) caregivers determined that “in a context where governments are expecting more and more from family caregivers, baby-boomer caregivers are telling researchers that they have a new concept of care.” Small sample but very interesting insights. Read the summary on Oxford University Press’s blog: http://ow.ly/9UDi0

Also receiving clicks, retweets and shares this week:

3. Institutional investors are highly interested in seniors housing, ahead of hotels and office projects. As shown on the chart below (via Senior Housing News), the attractiveness of seniors housing has been consistent for four years. Read more: http://ow.ly/9UTc4

4. Do people over 50 exist? Does entertainment have an age limit? http://ow.ly/9VGrB

5. Which of three generations – the Baby Boom, Gen X and Gen Y/Millennials – spent the most while in their 20s? Interesting data via AdAge, which summarizes

“If the timing of one’s birth is an event of major consequence, then clearly Millennials drew the short straw. For those ages 25 to 34 in 2010 their real median household income was not materially higher than that of Boomers in 1990 and a full 11% below than Generation X in 2000, according to Census Bureau annual surveys.”

See the charts/read more: http://ow.ly/9UEu0

 

Last week we welcomed more than 20 new followers of Creating Results on Twitter. It’s always exciting to meet – even virtually – people who share our passion for marketing to 50+ers.

Our clients also welcomed some gorgeous new design work by our creative team, in anticipation of Facebook’s switch to the new Timeline design. Looking for inspiration? Click on any link below:

* 55+ active adult community: http://www.facebook.com/TraditionsOfAmerica
* Continuing care retirement community: http://www.facebook.com/northhill.org
* New hybrid 55+ retirement community: http://www.facebook.com/FairingWay
* Travel destination: http://www.facebook.com/pwcmanassas
* 50+ marketing experts: http://www.facebook.com/CreatingResultsMarketing

These new designs carry out offline creative and are very dynamic. I love how Creative Director Mike Stakem added eye-catching calls to action for email sign-up and paid special attention to how the brand Facebook icons could stand out in a news feed.

What do you think of the new designs, or the links in this week’s round-up?

Does Entertainment Have an Age Limit?

Wednesday, March 28th, 2012

New survey data on the influence of online social networks on entertainment-related decisions was released this month. The upshot is that Twitter and Facebook are indeed impacting consumers when it comes to movies, TV shows and video games. But we focused on something else: the survey, by The Hollywood Reporter (THR) and Penn Schoen Berland, only included 750 people between the ages of 13 and 49.

I imagine some younger person at THR putting together the sample and figuring, why bother including old people in the survey? People over the age of 50 don’t watch TV, buy movie tickets or play video games – right?

Wrong.

FACT: The average age of a prime-time TV viewer is 51. Even shows strongly identified with America’s youth depend on a graying group for their strong ratings. American Idol’s average viewer is 43.8; baby boomers account for 21% of Glee’s regular fans.

Read more: Television’s Senior Moment (Wall Street Journal); Why Has the Network TV Audience Gotten So Old? (Vulture); TV and Advertising to Baby Boomers and Beyond (this blog)

FACT: In 2011, one in four movie tickets in the US and Canada was sold to a person over 50. As the Motion Picture Association of America puts it, “A slight increase in the oldest age group (60+) indicates that more of these people went to the movies (28.8 million) and bought more tickets (170.2 million) than in 2010, representing a 13% market share of both.”

Read more: 2011 Theatrical Market Statistics (Motion Picture Association of America); Is Hollywood Finally Growing Up? (Washington Times); Hurray for Hollywood’s Mature Marketing Insights (this blog)

FACT: In 2011, nearly 1 in every 3 Americans over the age of 50 played a video game. Per the Entertainment Software Association, that’s “an increase from nine percent in 1999. This figure is sure to rise in coming years with nursing homes and senior centers across the nation now incorporating video games into their activities.”

Average age of a game player? 37. Average age of a game buyer? 41.

Read more: Industry Facts (Entertainment Software Association)

FACT: 32% of Baby Boomers say they visit a social networking site each day, per the Pew Internet and American Life Project.

Read more: Generations Online and other resarch (Pew); Social, Silver Surfers ebook (Creating Results)

 

With these facts in mind, I’d love to hear The Hollywood Reporter explain: since 50+ adults are big consumers of entertainment AND are active on social networks, why weren’t they a part of your survey?

Mature Marketing Links of the Week – 3/26/12

Monday, March 26th, 2012

What held the attention of mature marketing pros on Twitter, LinkedIn and our blog this week? Read on for the top links and resources of the week that was.

1. MOST COMMENTED, DISCUSSED AND SHARED: Is 50 the new 30? That’s what thought-leader and typically thoughful writer Seth Godin stated on his blog last week. I took exception to his reckoning that Baby Boomers are acting like 30 year olds. In my opinion,

“Baby Boomers are clearly not acting like 30 year olds. They’re acting like the best 50 year olds they can be. They’re acting like a new kind of 50 year old.

You might even say they’re not acting at all – they’re just living lives with purpose and vibrancy.”

Turned out I wasn’t alone in my frustration with Seth’s take on 50+ers. Please check out our post and the lively discussion it sparked at http://bit.ly/H5YGA8.

2. MOST CLICKED: Did you know that 1 in 4 people will abandon a web page that takes more than 4 seconds to load? This eye-opening infographic shows how patience may be a lost virtue in “Instant America”: http://ow.ly/9Ke41

Jeremiah Owyang shared a New York Times article on a similar topic, how Google engineers have discovered that people will visit a web site less than a competitive site if they perceive it to be slower by miliseconds.

While the data isn’t broken out by age group, we imagine it would apply to the time-starved baby boomers and un-retired seniors out there. (Yes, even those of us who remember waiting patiently for the dial up modem now get antsy.)

Do you know how fast the pages on your web site are loading? You could try this tool from Pingdom: http://tools.pingdom.com/fpt/. Google also has a site speed report built in to its Analytics: http://analytics.blogspot.com/2011/05/measure-page-load-time-with-site-speed.html.

3. Five ways to “use content to get the attention of those all-important prospects — the men and women who are in the market to buy what you have to sell.” In this post, Sonia Simone of CopyBlogger shares tips including guest posting, how-to videos, Q&A series, professional networking and finding online traffic in the off line world. But it was her caveat that convinced us to share the post with our followers: “None of this works if your content sucks.”

Read the whole post here: http://ow.ly/9LyDS

And I may have gotten cranky with Seth, but I really am a softie:  

For her 100th birthday, a man gives his beloved the wedding she always wanted! Grab a tissue, watch this amazing video and you’ll start your Monday truly inspired.

Tip o’ the hat to @50Plus for bringing this lovely video to our attention.


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