A recent Nielsen report uncovered a flaw in pursuing the coveted 18-49 demographic: It leaves out more than half of all Baby Boomers.
For years, CMOs of many travel brands have focused on the 18-49 demographic.
The Nielsen Company recently published a report that questions the conventional wisdom of this practice.
The report, titled Why Marketers Can’t Afford to Ignore Baby Boomers points out that Baby Boomers (people born between 1945-1964) are defying widely held beliefs among leisure marketers.
Why leisure marketing focuses on Millennials and Gen X.
For years many marketers have believed that older Americans:
- Did not spend as much as other demographics.
- Were afraid of technology.
- Didn’t adapt well to new products.
And ad spending reflected those beliefs. Ad Age recently reported that less than 5% of American advertising targets Baby Boomers 50-64.
Baby Boomers are a different breed of aging consumer than previous generations.
The Nielsen report challenges those widely held beliefs, finding that Baby Boomers:
- Are more affluent than previous generations of aging Americans.
- Adapt to new technology willingly.
- Are the largest single group of American consumers.
- Comprise 1/3rd of all TV viewers, online users and social media users.
- Are more likely to have broadband internet access at home.
- Account for 38% of all dollars pent on toothpaste, laundry and other packaged goods.
- More than half of all Boomers are ignored entirely by most marketing.
Baby Boomers may be a more important demographic than Gen X or Millennials.
After all, they have more disposable income, fewer kids at home to spend it on, and more time to spend on leisure activities.
How should you adjust your travel marketing?
- Start by finding out what percentage of your current customer base are Baby Boomers.
- Survey your social media fans to find out how many Boomers would be interested in purchasing your products.
- Develop marketing programs specifically to Baby Boomers.
- Adjust your media spending to shed younger Millennials with little discretionary dollars in favor of younger Boomers with lots of extra time and money.