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New Statistics and Analysis as Baby Boomers Age in Place and Become Seniors

Tuesday, September 6th, 2011

One of the benefits of power outages is you catch up on reading. So last week, day 4 post-Irene and still off the grid, I finally had time to read an excellent study from the Brookings Institution, “The Uneven Aging and ‘Younging’ of America.” Study author William Frey looked at Census data from 2000 to 2010. Here are some statistics related to baby boomers and aging in place that jumped out from his analysis:

* Nationally, the over 45 population has grown 18x more than the under 45 population. We can thank the Baby Boomer s (born 1946-1964) for this. As they have shifted into middle age, so has America.

* The median age in each of the 50 states has gone up. The increase in median age is most notable in the Northeast, where the average person has gone from 34 years old to 39.2 years old. Maine, Vermont, New Hampshire and Connecticut now rank among the oldest states – hello, New England! West Virginia, Florida and Pennsylvania round out the top 7.

* Texas, the Southeast and the Intermountain West have moderated the effects of the aging population thanks to immigration and migration of young adults attracted by healthy, diversified economies.

* The Sunbelt has seen the biggest growth in its over 65 population, and the senior population is growing in states not typically associated with retirement. As Frey put it, “Areas that show growth in these seniors, due both to ‘aging in place’ and migration, are likely to benefit from their above-average economic attributes.”

* And, there is a “senior explosion in the waiting” in areas – again, the Sunbelt – where Baby boomers attracted by weather, knowledge-based economies and college towns have been moving in the past decades.

* When the Baby Boomers were actual babies, they were likely suburban babies. These were the areas where young families bloomed. When they had their own families, they raised them in the suburbs. And now, they age in place. Fully 40% of the suburban population is over 45.

What do you think these statistics mean –for marketing, for health care, for your business? Are you adjusting your plans based on these population trends? Please share your thoughts below.

Tags: Brookings Institution, Census 2010, population growth
Posted in 40+, 50+, 60+, Boomers, Mature Consumers, Silent Generation, Uncategorized | 1 Comment »

“Our Future Selves” – A Marketing Tool for Right Now

Tuesday, August 9th, 2011

I look at the picture of the News21 team – a group of Columbia University Graduate School of Journalism students (and maybe a professor or two) – and: they’re young. Yet this team has taken on a project that can yield great insights for my peers, those marketing to Baby Boomers, seniors, America’s older population.

The News21 team is reporting on aging. The introduction on the Our Future Selves website accurately notes

“Few changes will have as seismic an effect on the United States as the rate at which it’s growing old. The unprecedented proportion of older adults means change in every corner of our lives: our families, our workplaces, our communities.”

And excitingly, News21 is not limiting their inquiries to historic data or current trends. They’re looking at our future. Based on interviews with economists, gerontologists and statisticians, they’ve offered projections – national, state and personal.

The “Our Future Selves” project includes an interactive tool that marketers focused on the 50+ population can use right now: an interactive that offers projections related to health, finances and more for the next 40 years based on who you are now.

A married, white 40-year old woman from Rhode Island? In 2040, I’ll be 70 and 84% of women born the same year as I was will be alive. America’s population will have shifted from 65% white as it is now to 51% white. And Rhode Island’s population will continue to be older than the national average. (I wonder if that’s the year I’ll finally convince the Providence Journal‘s business editor that marketing to 50+ is a newsworthy topic?) I will spend far less on food and transport than an unmarried Hispanic woman my age, but far more on healthcare.

An unmarried, single 22-year old man from Pennsylvania? In 2040, I’ll be 52. Nearly 23% of Pennsylvanians will be over 65. Fortunately, men of my ethnic group have a lower incidence of cancer than the average for all races and sexes. Unfortunately, as an unmarried renter, more of my income is going towards housing and that income is lower than that of the married white guy down the hall.

Take the “Our Future Selves” interactive for a test drive today, and learn more about what the future could hold for your targets.

A full website from the News21 team launches next week, under the banner “Brave Old World.” Looks like it will be a great resource for marketing insights.

Tags: aging, Brave Old World, Columbia Graduate School of Journalism, Our Future Selves, research
Posted in 40+, 50+, 60+, Mature Consumers | No Comments »

House Calls for Baby Boomer…Pets?

Wednesday, May 18th, 2011

Lately, I’ve been thinking I’m our Vet’s best customer. I’ve taken our little Ebony there 3 times in 5 weeks and haven’t seen any other “repeats” in the waiting room. At our last visit I noticed something new: “House calls available.” My initial reaction was “whoa, my internist doesn’t make house calls and neither does my daughter’s pediatrician.” After giving it some thought I concluded that this was a BRILLIANT move for any veterinarian or service targeting Boomers (a group which includes me) and other older pet owners. Here’s why:

Do you struggle getting your 80-pound lab into the car when he/she knows where that car is headed? Imagine if you were an 80-year-old like my mother-in-law who always had a big black lab up until her death at 82. None of them were that well-behaved and, thinking about it, I still can’t figure out how she managed to get them to her vet. As a senior, she would have truly valued a vet who made house calls. And she would have been a big source of referrals. Heck, I’ve just written an entire blog post about my vet! Talk about great word of mouth marketing.
Ebony, after a grooming (wish the groomers made house calls!)
Do you work during the day? More of us do: 60% of those between 55 and 64 years old are working full time; 30% of those between the ages of 65 and 69 are working. That means our work hours are the same as those of most veterinarians making it tricky to schedule an appointment, particularly if it is an emergency (don’t think of the bill-we’ve all been there). House call vet to the rescue!
What happens when your beloved dog or cat is sick, and so are you? Like most pet lovers, you would even be more anxious to get your dog or cat in for medical attention than taking care of yourself. But the thought of sitting in the vet’s waiting room with a bunch of whimpering dogs when you feel as sick as a dog … Again, house call vet to the rescue!
Does a trip to the veterinarian makes your pet so nervous they vibrate the floor or get physically ill? Your dog or cat would be more relaxed if his or her vet came into their domain. Baby Boomers are most likely to pay for the privilege of a home visit – anything to avoid feeling like a bad Mom or Dad. As the American Veterinary Medical Association put it way back in 2000, “it appears the boomer generation and those generations hence are more willing than ever to spend their money on products and services, including veterinary care.”

So, this really is a brilliant business move by my vet, the Herndon (VA) Animal Medical Center. I’m impressed that she recognized the potential of the older market. And that she understood there were too-busy Boomers and other mature consumers who may have difficulty bringing their pets in. Who doesn’t love the convenience of house calls?

* Come! (Good Baby Boomer) - Lessons from a dog for Baby Boomer Marketing

* Marketing to Boomers, Seniors … and SWELs? - Functional foods are being developed for aging boomers, seniors and pets

Tags: american veterinary medical association, avma, baby boomers, Boomers, pet owners, seniors, veterinarians
Posted in 40+, 50+, 60+, Boomers, Marketing, Mature Consumers, Silent Generation | 2 Comments »

Social Media Grabs Headlines; TV and Print Grab Wallets

Friday, April 1st, 2011

Food for thought: while social media marketing may appear to be the darling of the day, “old fashioned” TV and print continue to grab prospects by the wallet. The effectiveness of television advertising is consistent across all ages – high numbers of Millennials, Baby Boomers and 65+ seniors report that it has an impact on their buying decision. And the impact of magazine ads increases with age.

According to the latest edition of Deloitte Research’s “State of the Media Democracy” survey, 71% of Americans still rate watching TV on any device among their favorite media activities. In addition, 83% of Americans stated that TV advertising still has the most impact on their buying decisions.

This isn’t a surprise to Creating Results – this blog has repeatedly noted that television is still a safe bet with great reach when you are marketing to Baby Boomers and seniors. But it’s timely news this week given Century 21′s decision to return to TV.

Chief Marketing Officer Beverly Thorne told AdAgethat “ it was time to return to TV to raise awareness about agents with young-adult home buyers.” The median age of US primetime TV watchers is 51 (Boomers) and 65+ers (seniors) watch more television than any other age. So Thorne’s ploy to get in front of young adults will put Century 21 in front of the adults who actually do buy new homes: 40+ matures.

The ability of ads on web sites to move traffic to other sites has dropped from 72% to 59% over the past three surveys. Online advertising trails magazines for effectiveness, especially when it comes to older targets. More than 2/3 of matures (defined by Deloitte as 63-75) and half of Baby Boomers (which Deloitte defines as 44-62) say magazine ads are highly motivating to them.

According to the survey, since 2007 a consistent 70% of Americans state that they enjoy reading printed magazines even though they know that they could find most of the same information online. James McDonnell, principal, Deloitte Consulting LLP, says “… enthusiasm for printed magazines is consistent across all age groups, a unique result in consumer attitudes across all the media categories, we surveyed…

It may be April 1st but we’re not fools. As Creating Results has noted before, the top monthly magazines rely on older readers and news magazine readers, in particular are older, wealthier and more educated than the average. We feel we can safely predict that print won’t be dead for quite some time.

MediaPost shared the following chart with statistics at a glance – the advertising vehicles that have the most impact on the buying decision, by age:

Advertising With Most Impact On Buying Decision (% of Respondents)
	*All*	*Trailing Millennials*	*Leading Millennials*	*Xers*	*Boomers*	*Matures*
TV	83%	80	82	86	82	80
Magazines	50	44	45	45	53	67
Online	47	55	69	46	41	32
Newspapers	44	20	17	37	59	79
Radio	32	26	22	37	34	27
Billboards/outdoor advertising	13	11	12	14	13	8
In-theater advertising	11	27	19	10	6	3
Source: Deloitte Research, March 2011 (Trailing Millennials: Age 14-20, Leading Millennials: 21-26, Generation X: 27-43, Baby Boomers: 44-62, Matures: 63-75)

What do you think? Share your thoughts on TV, magazines and marketing to Baby Boomers and seniors below.

Tags: AdAge, Century 21, Deloitte Research, MediaPost, television
Posted in 40+, 50+, 60+, Advertising, Boomers, Marketing, Mature Consumers, Millennials/Gen Y, Real Estate Marketing, Uncategorized | 1 Comment »

Three Not-So-Silly Statistics for Valentine’s Day

Monday, February 14th, 2011

We ♥ Boomers & Seniors

Three fun yet actionable facts for marketers about 55+ consumers (Baby Boomers and beyond), from the National Health Statistics Reports:

1. Marriage can be good for your health … up to a point. Currently married 55-74 year olds were less likely to report their heath status as “fair” or “poor.” But adults 75+ who were currently married were more likely to report fair/poor health. And more previously married adults over 55 reported fair/poor health than those who had never been married. (I guess it is not better to have loved and lost than never have to loved at all.)

Marketing implication: younger-old prospects who are currently married will be more motivated by, and should place a higher value on programs and services that help them maintain good health. Segment your messaging appropriately.

2. “My wife says I never listen to her. At least that’s what I think she said.” (Anonymous) Married Baby Boomers and seniors are more likely than those unmarried/formerly married to report a hearing impairment. They also are more likely to get a flu shot, visit a dentist and be a non-smoker.

Marketing implication: sometimes it’s quite effective to direct your messaging at the spouse. They often spot what their husband/wife needs and may not be willing to admit, and will prod them to address the problem.

3. Seniors with a spring in their step. In prepping the report, the US Department of Health & Human Services asked Americans if they had difficulty with social and physical activities such as socializing, relaxing, carrying 10 pounds or walking a quarter of a mile. Formerly married adults had the highest rate of difficulty with these activities; currently married adults generally had the fewest problems. Regular leisure-time physical activity was higher among currently marrieds than formerly marrieds as well.

Marketing implications: First off, it’s important for marketers to recognize that 1 in 4 Americans over 55 has difficulty walking 1/4 mile. 1 in 5 is challenged by walking up 10 steps, 1 in 4 will struggle with standing for two hours and 1 in 10 has difficulty sitting for two hours. The health and comfort limitations of mature prospects should influence how you plan special events, conduct tours of your historic attraction and/or design your sales centers.

Secondly, for marketers of active adult housing or CCRCs, divorced/widowed Boomers and seniors clearly have a need for someone who will encourage them to be physically and socially active. This need can be filled by new connections at your retirement or un-retirement community. That encouragement can be in the form of new friendships, the lifestyle director at the clubhouse, a bridge game and so on. So be sure your marketing photography is something these formerly married prospects can relate to, with shots of friendly, active un-couples.

Happy Valentine’s Day! Got another not-so-silly statistic about Boomers, seniors and marriage? Share it in the comments section below.

Tags: boomer health, statistics, Valentines Day
Posted in 50+, 60+, Boomers, Housing, Marketing, Mature Consumers, Uncategorized | No Comments »

Mature Marketing – Musical Edition

Tuesday, February 8th, 2011

For someone who shouldn’t sing in public, can’t play an instrument or even read sheet music, I love music. It inspires me in life and work. My Andrews Sisters station on Pandora sets the mood when I’m writing copy for matures; I switch to a Beatles or Queen station for more Boomer-leaning marketing materials. And this week, I found three great sources of insight that are … well … music to a marketer’s ears.

1) “Life is one grand, sweet song, so start the music,” said President Ronald Reagan. Asia Pacific 50+ expert Kim Walker took it one step further. The multi-talented marketer wrote and performed a lovely song that speaks to how we see older adults around the world, and how they see themselves.

Kim’s created a memorable, enjoyable song that also pushes people to look past wrinkles to knowledge, experience and enthusiasm. Here is “When You Look at Me.”

“Life’s a great adventure and the best is yet to come …” Well said sung, Kim.

2) Paula Jacobs wrote a nice piece for The (New York) Jewish Week on “The Do’s and Don’ts of Appealing to Boomers.” It’s her wish list for the organized Jewish community. As several of our Twitter followers agreed, these guidelines clearly also apply to marketing to Boomers and beyond.

As I read the article, I couldn’t help but hear Aretha Franklin’s RESPECT running through my brain. Whatever your denomination, and whatever product/service you’re selling to 50+ers, it’s about respect. Without it you won’t connect with your target.

It can’t be just lip service. Your ads, your customer service and your entire organization needs to prove to Boomers that you care about what they care about. “Delve deeper to understand what motivates boomers or run the risk of losing us forever,” writes Jacobs.

A real world example of this best practice comes from Traditions of America, the leading developer of active adult communities in Pennsylvania. The founders, Tim McCarthy and JB Reilly, take prospects to lunch so they can hear first-hand what their concerns are about moving to a retirement community. They are on site meeting with residents each week to delve deeper into their desires for community connections, help with selling current homes, lifelong learning opportunities or even more faucet options. Then Traditions meets those needs.

No wonder that while other developers have struggled during the housing downturn, Traditions sold more homes in 2010 than they did in 2009. Respect has a high ROI.

3) Whatever your age, music can be transformative. Brent Green recently wrote about how Boomers will spend money on transformation experiences, such as a fantasy Rock Camp. The camp combines entertainment, escape and education. As Brent writes,

“The most powerful marketing campaigns of the future will have core attributes similar to Rock Camp: immersive, cathartic, transformative and potentially life changing.”

Can you think of any recent advertising or marketing designed for Baby Boomers or seniors that hit those notes? Share your thoughts/links in the comments section below.

Tags: baby boomers, Kim Walker, rock camp, The Jewish Week, video
Posted in 50+, Boomers, Marketing, Mature Consumers, Uncategorized | No Comments »

Come! (Good Baby Boomer)

Friday, January 28th, 2011

Our Wheaten Terrier, Bailey, is now a year and a half old. He’s exuberant, fun, a bit of a teenager. Morning walks are spent with his leash in my pocket as he keeps pace. Bailey is always racing off after bunnies in our tiny, rural community, dashing in and out of neighbor’s yards, and quickly returning to me.

A little while ago he stopped coming back when I called. “Come!” Bailey would not. He’d scamper just out of reach, all the way home. “Come!” No response.

After a few days I was frustrated and ready to give in to his direction. “Fine,” I muttered. “Let’s go.”

Bailey was immediately by my side.

For marketers, perhaps there’s a lesson in this. Maybe we’re trying too hard to convince mature consumers to “come”? Most marketing materials try to persuade boomers and seniors to see things our way, to stop what they’re doing/thinking and buy into our vision of healthcare, aging or retirement.

What if we instead invited Boomers to “go”? It’s more of a call to action, to keep moving forward. And as Brent Green describes the Baby Boomers in his new book, Generation Reinvention, this is a generation that has always been about action, exploration and change.

In their teens, they questioned authority and insisted on a more egalitarian society through their consciousness revolutions. In their young adult years, they popularized new industries such as personal computing and natural products. In middle age, they have become dominant consumers of luxury products, automobiles, educational travel, financial services, second homes, healthcare services, and more.

With a majority over age 50, Boomers are already changing many traditional business practices and institutions, from advent of medical tourism to later-life entrepreneurialism. They are still shaping popular culture, from blockbuster films to stadium filling rock concerts.

Baby Boomers in particular have demonstrated they don’t want to follow anyone else’s playbook. If marketers invite them to “go,” our service or product can be a part of the journey they’re on. It might even open up a new path of discovery or reinvention. Start something amazing instead of being forced to stop.

What do you think? Is it time to GO instead of COME?

Posted in 50+, Boomers, Marketing, Mature Consumers, Uncategorized | 2 Comments »

Mature Marketing and the Longevity Revolution

Thursday, January 20th, 2011

When I was growing up, there was old (anyone over 30), there was really old (my Nana – then in her mid 60s) and there was George Burns. Born this day in 1896, Burns graced the silver screen and did nothing less than give God a new image. He also stood out in my mind because – at the time – it was really rare for someone to live to 100 … not to mention living an active life at 100.

Now, 65-year-olds are younger than ever and 100-year-olds aren’t as rare as they once were. There are an estimated 72,000 centenarians in the United States today and there could be as many as a million by 2050. As the Stanford Center on Longevity puts it in the New Realities of an Older America:

In less than one century, life expectancy has increased an average of 30 years in developed regions of the world. This added longevity is, at once, among the most remarkable achievements in all human history and one of our greatest challenges. More and more Americans are reaching old age, and older Americans are making up a larger share of our total population.

Here are some ideas on what the longevity revolution means for those who are marketing to Baby Boomers and beyond:

• Stanford Center’s excellent report notes that “the number of old people – age 65 and over – will double over the next 30 years.” The description of anyone over 65 as OLD conflicts with the way Baby Boomers and Silent Generation members see themselves. How could they be old when Boomers are launching businesses in record numbers? Their neighbors are getting re-married at 82? Or taking Hollywood by storm at 89, like Betty White?

• If you’re pitching your product or service with a message of “perfect for your last years,” those last years will last longer than ever. What’s your guarantee? Older consumers will want assurance they’re making the right choice.

• Many marketers are focusing on what Boomers will inherit but for many, that ship won’t come in for another 10-20 years. Until then, Boomers will be spending their time & money on maintaining their own lifestyle and health, as well as caring for older parents/family members.

Marketers should take a cue from their Baby Boomer targets and adjust their timeframe. You must build brand relationships with Baby Boomers that last longer than a Presidents Weekend special. Work towards your monthly sales goals but don’t discount long leads – invest in those relationships and give them time to pay off.

Boomers are in it for the long haul, and your organization needs to be as well.

(Now, say goodnight, Gracie.)

Tags: Betty White, centenarians, George Burns, longevity, Stanford Center on Longevity
Posted in 50+, 60+, Boomers, Marketing, Mature Consumers, Silent Generation, Uncategorized | 1 Comment »

Flying Solo: Baby Boomer Women and Travel

Wednesday, January 12th, 2011

This week in history, Amelia Earhart became the first woman to fly solo across the Pacific. Her achievement was one for the record books. Yet even today, it can be a struggle for Boomer and senior women to travel solo. Why? Because the travel industry has typically penalized women (and men) for cruising and vacationing as “singles.”

Some travel experts see signs of change. CruiseCritic.com writes that “solo travelers [will] find a friend”in 2011. They cite innovations such as the Norwegian Epic cruise ship which will feature 128 cabins for singles, and other cruiselines that are incorporating options for parties of one.

It’s about time. Single, mature women are an economic force to be reckoned with. As Todd Harff wrote in our newsletter:

There are 13.1 million single women over 50. Only 3.6 million are low income. DelWebb, the nation’s largest builder of communities for 50+ homebuyers, reports that more than 20% of their sales are to single women.

Women spend more than $200 a year on girlfriend get-a-ways and 25% have taken a trip in the last 3 years. They spend money on themselves and want to do things with their friends. They are likely to buy fewer but better things.

Boomers as a group are big spenders on travel. Vibrant Nation found that 42% of Boomer women will spend more than $2,500 per person on every vacation. Imagine the economic impact it might have when the hated single traveler surcharges disappear?

Some tour companies are beginning to remove those surcharges on their packages. Grand Circle Travel, for one, has long touted its “solo friendly” travel. And I like the way the straightforward way they market it. The web page and collaterals for solo travel feature photos of women, alone and in groups. Scarcely a man in sight. Grand Circle offers flexible options so you can decide what you’re comfortable with. They address security concerns. And there’s a prominent link to read solo traveler stories – a good use of testimonials to reduce anxiety.

Do you think this is the year we’ll see the travel industry truly embrace solo, Boomer and senior women? If you have an example of single-friendly/single-unfriendly travel marketing, we invite you to share it in the comments below.

Tags: baby boomer women, cruise industry, cruisecritic, travel trends, vibrant naion
Posted in 50+, Boomers, Mature Consumers, Travel, Uncategorized | 1 Comment »

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Archive for the ‘Mature Consumers’ Category

New Statistics and Analysis as Baby Boomers Age in Place and Become Seniors

“Our Future Selves” – A Marketing Tool for Right Now

House Calls for Baby Boomer…Pets?

Social Media Grabs Headlines; TV and Print Grab Wallets

Three Not-So-Silly Statistics for Valentine’s Day

We ♥ Boomers & Seniors

Mature Marketing – Musical Edition

Come! (Good Baby Boomer)

Mature Marketing and the Longevity Revolution

Flying Solo: Baby Boomer Women and Travel

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