What They Think
Contrary to popular sentiments, Baby Boomers are not concerned about keeping up with their peers. Their mindset is more inclined toward intellectual growth and experiences. Boomers will invest in possessions, not to keep up with their peers but to facilitate the experiences they want to have. For example, Boomers are interested in outdoor expeditions and travel; as such, they will spend significant amounts of money on expensive travel gear, instructional material related to travel and other travel related assets.
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Boomers do not think much about a single brand. They are more focused on finding choices. They think more about value and less about the cost or the brand per se. Certainly, Boomers have favorite brands but they are not rigid or fanatic about these brands. In fact, Baby Boomers are looking for more information on new products and they want more variety. For marketers looking to tap into this generation, it is a good idea to offer Boomers adequate information to improve brand and product awareness. Marketing gimmicks will not work well with Boomers because they have been marketed to for many years and they can tell when you use gimmicks to engage them.
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Baby Boomers tend to have a holistic view of things; they want to understand the bigger picture. When marketing to this segment, show them how your product fits into their lives and in the lives of others around them. Help them to see all possible outcomes should they choose to buy your product or service.
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Boomers like to think independently. As such, they do not like to be bundled up in a group as though they are all similar to each other. This is especially evidenced by the wide age difference between Boomers. According to the book ‘Marketing to the Mindset of Baby Boomers’, Boomers can be categorized into five interesting groups:
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The Upbeat: These Boomers are involved with their community and family and they are optimistic. They look for intellectual growth, to maintain their youthfulness, and they have few financial worries.
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The Insecure: The insecure Baby Boomers are mainly concerned about their financial status. They are not too optimistic about their future especially when it comes to finances. They also view the world as a place full of crime and that they are likely to be a victim. They have few future goals other than working until retirement. The insecure Boomers are also more likely to buy a wide range of products in an effort to seem younger.
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The Actives: The actives look to stay independent and not to depend on their children for any sort of assistance. They are keen on working as long as they can. They have a positive attitude and they consider themselves financially secure. They seem to work for their own financial security and that of their children.
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The Financially Positive: The financially positive Boomers invest for the long term. They do not anticipate that they will work past their retirement age. They are informed about brands, and are keen about what they choose to purchase – always looking for value. They are not too comfortable with their looks and therefore they are not hesitant to undertake cosmetic surgery.
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These categories serve to demonstrate that Baby Boomers are diverse in their lifestyle, outlook and in their thinking. Marketers can make use of these segments to target Boomers, using a very specific approach that will appeal to their needs.
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