I know – what hasn’t been said about Baby Boomers and how they manage their healthcare? Or virtually all other aspects of their lives? They are a powerful consumer market and since they are essentially the oldest of current generations by any substantive measures, we know the most about them because we have the most historical data. We’re comfortable speculating about Baby Boomers.
What has changed, however, is marketing practices. We’ve talked in other articles about the days of simply buying ad space that reaches the most people possible being over. Armed with an impossible amount of data, marketers are able to dive deeper into their target audiences to understand them at an unprecedented level, and design very granular campaigns that appeal to those most likely to convert.
Let’s take a snapshot of some life stage events that can affect the Baby Boomer generation – those born between 1946 and 1964 – and how they might affect their healthcare decisions. Of course, people contain multitudes and these are just examples for the sake of intelligent discussion.
As you look across the spectrum, it becomes immediately clear that messaging to this generation in a “one size fits all” fashion is not going to work. It can even border on insulting if not executed correctly and alienate consumers who may have eventually required your services. Baby Boomers, after all, are fiercely brand-loyal.
For example, take the person born in 1951. As of today, that person is 67 years old. By this time, any chronic conditions afflicting this person have likely been present for years and they are experienced at managing it. For instance, more than 25% of adults over 60 are diabetic. While they are probably interested in ways to make it easier, at this point they may not be as interested as someone younger in major lifestyle changes. But they have a vested interest in staying mobile and active because they may be daytime caregivers to young grandkids.
This is a very specific example and probably one not suited for top-of-the-funnel branding campaigns. But if part of your marketing efforts center on wellness for seniors (and it should), it’s a very real scenario that will speak to many people if you target the audience right, consider the visuals and offer an easy path to conversion.
While we’re primarily talking about healthcare right now, there are applicable action items for other industries to consider. Health is central to our lives and extends its influence to other consumer needs. It’s an opportunity for healthcare providers to partner with other brands for a more holistic idea of “health”.
Financial Services: Most people of retirement age have not saved enough for healthcare expenses as they age. A financial service well-versed in navigating Medicare or providing advice to those approaching retirement or those that are only a few years in. 94% of adults over 65 are on government healthcare. They need guidance on the best ways to maximize that coverage while minimizing the out-of-pocket supplemental cost of what Medicare doesn’t cover.
Fitness: A gym can be intimidating for anyone, not least of which are seniors. Depending on their health, it can seem impossible. Fitness centers that have specialists focusing on workouts designed to keep seniors mobile can really win in this space. It also offers a mental health aspect if classes are offered, giving people an opportunity to be social.
Real Estate: Older Boomers may be considering downsizing the home, whether it’s a financial decision or just the desire not to clean so much unused space. Some may also be considering senior living facilities. Partnering with healthcare providers to offer guidance on decision-making or to ease the transition with a healthcare professional involved can elevate confidence in your service.
Home Furnishings: Many seniors can have some anxiety about living alone, especially if they have a health condition that affects them physically or mentally. Advances in home security and technology has many applications to support seniors continuing to live in their home, but also comes with a steeper learning curve, generally speaking. Having in-home installers or in-store experts that can address the needs of seniors is very valuable to gaining the trust and loyalty of this generation.
We can help with targeted campaign to this demographic and unpack all the possible consumer segments that are right for your business. Our relationships in the community also open the door to partnerships that can elevate your brand within the market.