Marketing to Baby Boomers: Ignore Lessons from the Pandemic at Your Own Peril

Consider this in the context of the pandemic As we begin a return to normalcy 78 million Boomers are arithmetically two years older but geometrically wiser because of the lifealtering nature of the pandemic For a generation whose size alone has always amplified the impact of its choices now add the overlay of pentup dreams and desires for a cohort that has a finite number of years to do what they39ve waited a lifetime forAs an expert in marketing to the Baby Boomer generation I have chronicled the postWorld War II dynamics that triggered a similar turning point in our country39s history marked by an unprecedented burst of population growth and robust economic expansion While there are obviously important differences between a global conflict and a global health crisis their aftermaths will share a similar force the power of consumer confidence As we shift from a period of doubt and uncertainty newfound optimism will have a profound impact on our behavior Increased spending across all sectors of our economy will trigger a wave of prosperity that will propel many brands and businesses and make growth the norm of our new normalIf you39re a marketer who will not be content with benchmark growth then you39re going to need to get different results by doing things differently You39re going to need to prioritize the highly valuable cohort of consumers who will be spending disproportionately to the mass the aging Baby BoomersHere39s how the dynamics of the pandemic have created valuable opportunities that are unique to this cohortThe Ageless Generation Got a Glimpse of their MortalityIn a country where life expectancy increases by 30 years with every century it39s not surprising that our aging people have come to believe that they39re ageless For years the Boomers have been defying the old definition of old by living full and active lives and embracing the future with limitless optimism Their focus on quality of life has morphed to quality of longevity and they have believed that aging gracefully was something mostly within their control providing they worked on itWhen the pandemic wrested control of the future from them and had a disproportionate toll on their aging peers the most optimistic generation in history got a massive dose of reality The daily news repeated the unassailable fact that life really is finite and even the most irrational boomers began to accept that their lives had limits and that they should plan accordinglyAs our worlds begin to get back to normal expect the Boomers to bring an unprecedented zeal to how they live their lives They will be motivated by a sense of urgency to do the things they39ve always wanted to do while they still can When 78 million people decide that there39s never been a better time than now it39s time to make them a priority While everyone39s eager to get back to doing the things they enjoy doing there39s an important difference when it comes to the boomers They39ve got a shorter window to spend a lot more moneyThey Had a Lot of Time to Have Lots of Meetings with ThemselvesI39ve always quipped that we spend a lot of time in meetings with other people but we seldom take the time to have a meeting with ourselves Our truly private moments which are few and far between are precious opportunities to be alone with our thoughts and to search the depths of our soulsIf that seems overly spiritual think again It took a pandemic to create more free time for us to assess our lives and choose new priorities Many Boomers came to the realization that it was more important to appreciate what they already have instead of constantly seeking something new that those experiences are more important than material possessions and that being surrounded by family and friends is the ultimate sign of success Just as importantly many discovered that happiness was less about knowing what you want and more about knowing what you don39t wantNow more than ever marketing to age is going to need to reflect a truly pithy understanding of what39s important to your audience What they want today is very different than their desires in 2019 You39re going to need to get your hands on the minutes from their many meetings with themselvesAging in Place Just Got a Shot in the ArmOne of the sectors hardest hit by the pandemic was longterm care facilities LTCFs According to the CDC more than 200000 LTCF residents and staff have died from COVID representing a staggering 23 of all US COVID deaths down from 50 at the start of the pandemicWhile the LTCF industry is hard at work to improve the safety and wellbeing of its residents the grim realities of this pandemic will have a lasting impact on aging generations like the Boomers When they reach the age and stage that requires assisted living they will have many more choices thanks to the advances in technology that are making aging in place more viable The innate desire to nest to be in the comfort of your own home when illness imposes discomfort is a very powerful force that has gained inertia because of the LTCF woes during the pandemicIf you39re servicing any aspect of aging now is the time to be more home centric for aging Boomers that given the choice will prefer their own home over the nursing homeThe Fear of COVID Has Been Replaced by the Fear of Missing OutNews flash That walking tour of counties Cork and Killarney is sold out and so is the wine cruise on the Rhine For the generation that has the most money and loves spending it the waiting is over but they39re going to need to get on the wait list for all those great adventures that were postponed by the pandemicWith heightened demand for leisure pursuits facing limited supply quot50 FOMOquot is starting to take hold The pandemic helped the Boomers to realize how precious time is especially when it39s taken away from you Expect them to be led by their dreams lest another quotnightmarequot robs them of their freedom to pursue the joy they39ve worked their whole lives forThere39s an old saying about being old By way of living a longer life you39ve had more experiences that have taught you more lessons hence it39s said that you39re quotolder and wiserquot For most this is true While I often can39t remember what I just decided to write down so I wouldn39t forget it I believe that my life39s experiences have created wisdom that helps me make more educated choices for my futureClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Marketing to Baby Boomers: Ignore Lessons from the Pandemic at Your Own Peril

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Peter Hubbell

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Marketing to Baby Boomers: Ignore Lessons from the Pandemic at Your Own Peril

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