The neglected generation?

In three years, 50% of the US population will be over fifty.  One of the biggest misconceptions about this generation, largely referred to as the Baby Boomers, is that social media and associated online advertising/marketing  won’t reach them.  It’s staggering to find that only 5% of all ad spending targets them, when at over 110 million strong, they account for over 50% of all CPG spending and make up one-third of all online and social media users.

A Google/Ipsos study conducted in 2013 focused on better understanding how boomers/seniors make decisions and gather information across both online and offline channels.

A few of the key findings I think are important to highlight are:

-       “The Internet is an everyday part of boomers’ and seniors’ lives; it is the top source for gathering information on topics of interest, outpacing TV and print media by a substantial margin. As an advertiser, it is critical to be present across many digital platforms in order to engage this audience. Online video, search, and social networks build upon each other.”

-       “Social networking sites are used by the majority of boomers/seniors daily with more than half following a group or organization on a social platform. Facebook ranks #1 as the most used social network.

-       “Boomers/seniors access the Internet on their PCs and growing portions are doing so on smartphones and tablets. Almost 2 in 5 own a smartphone or tablet and more are likely to purchase one in the next 12 months. Further, multi-screen use is common with over 75% of mobile device owners reporting using more than one device at a time.”

Of particular note is the increased usage of mobile devices by seniors/boomers, and the expectation for that number to grow significantly in the coming years.   While marketing to this generation is far different (and potentially more difficult) than those who grew up in the connected age, it is important to remember that a group holding the majority of discretionary spending power needs to be targeting not only more effectively, but with greater firepower.