Transcript Marketing to Aging Influencers

MARKETING TO BABY
BOOMERS
How to reach the game-changing generation of Aging
Influencers®
Learning Outcomes
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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
Using data for your campaign
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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)
Methodology used for 2012 report
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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
2012 Marketing to Aging Influencers
Trends and milestones
that define our target
Pacific Northwest segmentation
findings
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The Generations
Traditionalists
Baby
Boomers
Gen X-ers
Millennials
1920 - 1944
1945 – 1964
1965 – 1980
1981 – 1991
65 – 89 years
45 – 64 years
29 – 44 years
18 – 28 years
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Source: Generational Learning produced for CMS June 2009
Generations & Gaps In Values
Traditionalists
1920 - 1944
Baby Boom
Generation
1945-1964
Gen X-ers
1965-1980
Millennials
1981 - 1991
Personal
Allegiance
Self-discovery
Self-oriented
Self-discovery
Political
Conservative
Liberal
Pseudo-conservative
Semi-Liberal
Social
Law & order
Altruistic, humanistic
Competitive
Humanistic
Ethical
Fundamental
Moralistic
Situational
Moralistic
Financial
Save & pay later
Buy now, pay later
Buy now
Buying
Based on
Have it now
Almost hopeless
The one with
the most, wins
Products
necessity
Clothes, entertainment,
travel
High-tech gadgets
For work and fun
“You owe me”
“I want it, but may not
be able to get it”
Tools, homes,
Reward
cars,
home appliances
“I earned it”
Source: adapted from Twenty something: Managing and Motivating Today’s New Workforce, Lawrence J. Bradford and Claire
Have it now
High-tech
gadgets
“We deserve it”
2012 Marketing to Aging Influencers
Findings
 Geographic considerations
 Economic considerations
 Consumer data
 Marketing take-homes
®
Boomer milestones (VALs)
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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
Boomers & Val’s
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The leopard can’t really change spots
Largest consumer force in the US
Lifestyle defines consumer attitudes
1981 – refinancing mortgages
2012 – reverse mortgages
The boomers in 1981(ages 30 –
34)
Boomer growth in millions 65+
U.S. Census data sources
Aging Influencers®
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Use of technology
Want things “their way”
Buy now, save?
Active and knowledgeable consumers
12/2029
Dylan (Thomas)
Boomers + 20X’s faster than Gen
X
Adoption of new services by generation Accenture study 2009. 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 2009
67%
Use of social network site, increase for this generation, 2008 – 2009 59%
Playing video games on mobile devises, increase for boomers
52%
Use of IPod or similar devise for listening to music
Watching videos on on the internet
49%
36%
For the third sector...(and
others)
Big-spending Boomers
bend the rules of marketing…because
 - USA Today, 2010
Use of technology
Want things “their” way
Buy now, save$??
Active consumers (service me)
Dylan (Thomas)
DO NOT GO GENTLE INTO THAT GOOD NIGHT
RAGE, RAGE AGAINST THE DYING OF THE LIGHT.
12/2029
Reality check
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Economic times
Legislation
Socio-economic considerations
Legislative Milestones
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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)
Socio-Economic Considerations
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Cuts in standard of living
Working longer
Role of state and other support is changing
European debt issues
Election year (information clutter media $$$)
Unforeseen Economic Issues
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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
Geographic segmentation PNW
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Pacific Northwest
 Urban
communities
 Suburban communities
 Rural
Urban segment highlights
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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
Urban segment highlights
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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)
Suburban segment highlights
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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
Suburban segment highlights
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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
Rural segment highlights
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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)
Rural segment highlights
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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
New and old marketing tools
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Marketing tools go in and out of fashion
Do-it yourself research
Tools and tactics
Campaign checklist
Marketing trends
Predictive modeling — let’s call it data analysis
 Eric Siegel, Ph.D.,
 Data mining for competitive advantage
 What
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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
Lifecycle Marketing
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Lifecycle marketing aka Nurture marketing
9x more value from their marketing efforts
(email). Email marketing alone cannot power
your lifecycle marketing.
Attention
Interest
Desire
Action
Marketing tools to use
Press releases
 Cross promotion
 Digital & print
 Events
 Grassroots
outreach
 Calendar listings
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YouTube
 Social media
 Websites
 Email/DM
Marketing
 Contact lists
 Customer
service/involveme
nt
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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
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Recap
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Aging Influences and the Internet
Customer service is king (or queen)
Realistic goals
Multiple tools and tactics
Special thanks to…
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Diane M. Childs of the Oregon Department of
Consumer & Business Services who inspired and help
shape this report.
Q&A
Thank you!