Most marketers are eagerly marketing to Millennials while completely forgetting an important generation which should not be underestimated: The Baby Boomers!
In the past, only around 50 percent of different industry groups allocated a targeting budget for this generation.
Boomers are a generation which is often overlooked in the wrong assumption that they lack digital affinity. This, however, is far from the truth. Businesses thinking that Social Media is only for younger generations are missing out great opportunities.
Find out why Baby Boomers are the right target to reach with your next video marketing or advertising campaign.
Who are the Baby Boomers
A considerable part of our population belongs to the Baby Boomer generation or often referred to as the so-called “Me-Generation”. This group was born between the years 1946-1964.
In 2030 the number of over 65 US citizens will surpass the number of children for the first time in history.
Thinking of the Baby Boomers, Elvis Presley, equal rights, Woodstock and even the first Mini-Skirt might cross our minds. Baby Boomers or the generation of flower power and Rock’n Roll had great influence not only in politics but also in society and in fashion.
Born after the second world war, they were the rebels of the 20th century – from the top of the feminist movement to the fight for Civil Rights.
Typical characteristics of Baby Boomers
Baby Boomers show a strong work ethic. They are aware that time investment is necessary to achieve success and wealth. Moreover, they define their self-worth by their accomplished work and professional goals reached. This generation values to be given individual choices and lives with an optimistic attitude. The most appropriate Boomer motto is: Everything is possible.
But who are the Baby Boomers today?
The older ones are now – in 2019 – around 73 years old. Hence, many of them already retired or soon to be. They are active and ready to enjoy the wealth they have worked hard for all these years.
Baby Boomers have a high purchasing power
While the previous generation, fathers and mothers of the Boomers were forced to save money, their children, on the other hand, live with the “Buy now, pay later” mindset. It is not only a generation that tends to impulse buying but also accounts to the most spendings across all product categories.
In 2020 Baby Boomers are expected to spend 230.6 billion USD for consumer packaged goods. In 2014 this number lay at 207.2 billion USD, which means an increase of around 10 percent!
Baby Boomers are digital
27 hours per week is the average time spent online among Boomers. Already in 2013, a survey of Google found out that a higher percentage of Baby Boomers spends more time online than in front of the TV.
The most common reasons indicated for internet usage were the easy access of information fitting the Boomer’s taste and staying up-to-date with politics and policy issues. When it comes to education about a desired topic or interest, the internet is serving as the most popular source.
A consumer report of KPMG shows, that Baby Boomers are shopping online as frequently as Millennials with the important fact, that they spend more per purchase.
What is more, online videos are quite a popular content form: Around half of the Boomers (54%) like to watch videos online. That is in contrast to the general population with 65% already a high proportion. Most importantly, 3 in 4 Boomers take action after watching an online video. So do 47% f.e. look up more information. 39% even click on a link which seems to be in their interest, which is an amazing CTR.
You might ask yourself how many Baby Boomers are using YouTube or Facebook?
Both social platforms belong to their favorites. That is why they take the first two places. Numbers as of January 2018 depict that 68% of American Boomers like to use YouTube. Facebook follows straight behind it at 65%.
Baby Boomers are YouTube Fans
YouTube is one the most popular platforms for sharing and watching videos. Our population watches daily around 500 million hours of video. Did you know that YouTube is almost two times as popular for accessing online videos than Facebook among Boomers?
According to Strike Social, Millennials received 156% more YouTube advertising budget in 2016 than Baby Boomers. As a result, they have been receiving only an insignificant share of the marketing budget in most cases.
Boomers make up around one quarter of the YouTube audience and are way more likely to watch your ads. In comparison with Desktop (view rate 33%), Phone (29.4%) and Tablet (30.2%), this generation clearly outpaced generation X and the Millenials with the highest view rates in each medium.
Google revealed three reasons why Baby Boomers are turning to YouTube
Besides enjoying an easily accessible format of presenting demanded information, Boomers see YouTube as a way to save time. Against the assumption that they have all the time in the world, this generation also seeks to optimize it. But that is not all.
1 in 3 boomers use YouTube to research or learn about a product. It’s quite significant that this generation prefers to gather information by themselves instead of asking their children. That applies especially when it comes to technical products. That opens up a huge opportunity for tutorial and product explanation videos for your brand.
As a third reason, YouTube serves as a channel to watch TV recaps and favorite TV shows at a more convenient time. Staying up late in order to watch the evening TV program is no longer needed. What is more, for 68% of Boomers YouTube serves as an entertainment source.
Don’t forget about the power of Facebook
However, despite the popularity of YouTube, the potential of Facebook shouldn’t be overlooked. Indeed, the average Boomer has on average 4.6 Social Media accounts, while the most popular is Facebook. On this Social Media network over 15% of this generation spends around 11 hours per week, which is almost half of the weekly hours spent online.
This is great news! So you know already where to find Baby Boomers. Facebook will provide you with the easiest access to this target group.
Nowadays, video is the right content form to approach Baby Boomers due to their passion for videos combined with their preferred use of the social YouTube and Facebook platforms. Not only advertising on YouTube, but also video marketing campaigns can promise great success due to high view rates and click-through-rates. What probably had success on TV some centuries ago, has been shifted now to online.
Thanks to Insights from Google, we also know that Boomers are in search of explanation videos. At this point, your business can step in and provide demanded content, foster engagement and build brand loyalty.
Baby Boomers are a large percentage of today’s population. They had a strong workaholic attitude and consequently have money available and the will to spend. That also proves the fact mentioned above, which suggests that the average spending per transaction is higher compared to other generations. Who decides to ignore this generation on the basis of wrong assumptions, will miss out profitable business chances.