September 30th, 2012
I have been on this soapbox for several years now: TV advertisers and station executives are making a huge mistake by not demanding that the key demo move from 25-to-54 to 30-to-60. The evidence continues to pile up that my fellow Baby Boomers are a whole different aging generation than we have ever seen before. Maybe 30-to-60 may be shooting too low?
The 18-to-49 and 25-to-54 key demos came about decades ago when the common theory was that anyone over the age of 50 was set in their ways – and no amount of marketing could change their minds. The advertisers believed that if someone over the age of 50 used Crest toothpaste, for instance, they would never even think about changing brands. We now know – through fresh research – that the Baby Boomers born between 1946 and 1964 – are a generation that keeps an open mind and embraces new ideas and new thinking unlike any generation that went before them.
Consider a new survey of Boomers from Nielsen and BoomAgers. The stats are eye-opening:
- While Baby Boomers comprise 40% of the U.S. population – they control 70% of the disposable income
- This generation buys 49% of the total packaged goods in America
- Despite the economic downturn – 63% of Boomers have at least one person in the household working full-time
Baby Boomers have money to spend – and unlike previous aging generations – they are spending it on new technology. Once again, consider these eye-popping findings:
- Boomers make up 40% of the people paying for wireless services
- 41% of all Apple computers are sold to Boomers
- Boomers represent 30% of all social media and online users
- More than 8 million Boomers are heavy users – spending 20 hours or more online every week
- 53% of Baby Boomers are on Facebook
In addition, as we all know, these older Americans – now aged 48-to-66 – are the heaviest users of local television news. This combination – online and on air – should be a sweet target for advertisers on television stations. Once again – when you combine all this info – with the Boomers having the most disposable income – it makes you scratch your head – why wouldn’t they be the key demo for television advertisers?
And the facts get even more interesting when you slice this latest date a little further. How about these data points:
- People aged 50 and older spend nearly $7 billion online every year
- “Older Boomers” (aged 56-to-66) spend the most online of all generations
- “Older Boomer” spending is nearly double what those aged 18-to-22 spend online
- The second biggest group of online spenders are – “Younger Boomers” – aged 46-to-55
And consider one more piece of data: Between now and 2030 – the 18-to-49 segment of the population will grow by a mere 12%. During the same time frame – the 50+ segment will grow by 34%. By 2050 – there will be 161 million consumers in America aged 50-plus. That will represent a 63% increase from 2010.
Maybe that key demo should move to 40-to-70?