Friday, July 30, 2010

Baby Boomers and Social Media

This is from Center for Media Research.

Friday, July 30, 2010

Don't Overlook the Booming Boomers

According to a recent report from NielsenWire, media companies focus on reaching consumers age 18-34 or 18-49, who spend (or have a key role in spending) billions of dollars every year. If solely focusing on these groups, advertisers and consumer goods manufacturers are overlooking a group that has tremendous buying power of the 78 million Baby Boomers in the U.S. today, says the report
Born between the years 1946-1964, the oldest of the Boomers are beginning to retire. But today's middle aged and older consumers are different than their predecessors, says the report. The conventional wisdom that they spend little, resist technology and are slow to adopt new products should be re-assessed. Boomers are an affluent group who adopt technology with enthusiasm (consider the number of parents or grandparents who regularly send e-mails or upload photos to Facebook and other sites). They have also shown a willingness to try new brands and products.
Boomers spend 38.5% of CPG dollars. Yet it's estimated that less than 5% of advertising dollars are currently targeted towards adults 35-64 years old (which includes the latter half of Generation X in addition to Boomers). With most marketers generally targeting 18-49 year olds, more than half of the affluent Boomer demographic is ignored entirely.
Pat McDonough, Senior Vice President, Insights, Analysis and Policy at the Nielsen Company, says "... boomers should be as desirable for marketers as Millennials and Gen-Xers... they are the largest single group of consumers...  a valuable target audience... "
Consider these Nielsen facts about Boomers:
  • Dominate 1,023 out of 1,083 consumer packaged goods categories
  • Watch the most video: 9:34 hours per day
  • Comprise 1/3 of all TV viewers, online users, social media users and Twitter users
  • Time shift TV more than 18-24s (2:32 vs. 1:32)
  • Are significantly more likely to own a DVD player
  • More likely to have broadband Internet access at home
Web sites Boomers visit are similar to those visited by adults age 18-34, as 8 of the top 10 web sites are the same:
Most Popular Sites By Age Group
Boomers
Ages 18-34
RankSites for Baby BoomersRankSites for 18-34
1Google1Google
2Yahoo2Yahoo
3Bing3Facebook
4Facebook4Bing
5Microsoft5YouTube
6AOL6Microsoft
7YouTube7AOL
8Wikipedia8Fox Interactive Media
9Ask9Apple
10Amazon10Wikipedia
Source: The Nielsen Company, July 2010
Boomers represent tremendous potential to those who know how to reach them, says Nielsen, at a time when most analysts are predicting much slower growth in consumer spending.
For additional information from Nielsen, please visit here.

No comments:

Post a Comment