How well are you positioned to market your facility to the first wave of baby boomers, 17 million of whom will turn 50 over the next 4 years? A research brief published by FIND/SVP, a knowledge services company that provides research and consulting on such matters, says that many marketers will miss the target because they don’t fully understand the “new set of values and self-images that will affect how [boomers] act and spend.” The brief sorts out the demographic and financial data for this group, which FIND/SVP projects to become a $1 trillion market by 2005.
Developed by FIND/SVP senior project manager and demographic expert Therese R. Revesz, the brief offers several tips on enticing and attracting the 50-and-over set:
- Appeal to Boomers' Self-Image (and Aging Phobia). Marketers need to change the scope of their marketing paradigm to focus on grooming, travel and leisure, and especially financial planning.
- Try Stealth Marketing and New Descriptors. Boomers dislike the labels "senior" and "middle-aged." They prefer to be called "first wave" or "leading edge" boomers.
- Give Them Straight Talk. Boomers don't like to be spoon-fed. They like having control of their decisions with as little hype as possible.
- Make the Message Clear. Boomers do not respond well to overpromotion or marketing spin.
The brief also covers issues surrounding expected boomer spending in key market segments such as financial planning, long-term care insurance, anti-aging products, health and fitness. For more information or to order the research brief ($495), visit www.findsvp.com or call (212) 633-4539.
Source: International Council on Active Aging, www.icaa.cc/article% 20archives/findsvp.htm