Many companies today are adjusting their marketing strategies to attract and engage millennials, the younger generation that everyone seems to covet. After all, millennials currently represent about one-fourth of the entire population, with $200 billion in annual buying power.
It’s important to note, however, that marketers shouldn’t put all of their eggs in one basket, as baby boomers still represent a large portion of their customer base. According to a recent study from Forrester, baby boomers are projected to soon account for 70% of disposable income.
To ensure that your marketing strategy still appeals to and engages baby boomers, you might want to consider implementing the following three marketing tactics into your current strategy:
1. Direct Mail
While it might be an “old school” marketing strategy, direct mail remains an effective tactic, allowing companies to reach, engage, and convert consumers. In fact, in a new study by MarketingCharts, which surveyed baby boomers ages 50-68, revealed that three in 10 respondents said that direct mail influenced them to purchase a product or service during the prior six months.
Direct mail has some interesting advantages over email marketing; for example, direct mail is highly targeted and personalized. Each campaign is tailored to a specific audience and individual. What’s more, it’s familiar. Many people are hesitant to open emails from unfamiliar businesses, fearing that they might get a virus or download malware. Direct mail, on the other hand, is a trusted tactic with the print-friendly generation.
2. Word of Mouth
Another effective way to market toward baby boomers is through word of mouth. Word of mouth has two main advantages, spreading brand awareness and building brand awareness. People today have become increasingly discerning. Word of mouth builds trust because buyers are more likely to trust a person who gives them a direct referral as they assume the person is unbiased. According to research from Nielsen, titled 92% of consumers say they trust recommendations from friends and family above all other forms of advertising.
3. Social Media
Believe it or not, baby boomers are among the fastest growing groups on social media. People use social media platforms—in particular Facebook—to stay in touch with family and friends, keep up to date with the latest news, and engage with brands that they follow. Because of this, it’s important to stay active on social media to reach baby boomers. Social media platforms have tools that allow you to communicate the right kind of content to your audience. For example, you can target consumers by location, language, age, relationship status, and more. Being able to choose specific demographics helps you target audiences more effectively.
Don’t focus all of your marketing efforts on millennials. While this generation is important, it’s not the only group of people buying your products and services. Use the three tactics above to improve your marketing strategy to better reach, engage, and convert baby boomers.
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