It’s no secret that the Baby Boomer generation today is controlling most of the wealth. Eventually that wealth will pass to the next generation. In the meantime, are you ignoring the opportunity to reach Baby Boomers online in favor of catering to Millennials? Or, are you delaying building your digital reach beyond a basic website because the majority of your clients are Baby Boomers?
If so, you may be making a huge mistake. The facts are that Baby Boomers are online, they are using social media, and they are tech savvy. They have the time on their hands to find you online and they have the money to fit your ideal client profile.
Baby Boomers are integrating digital into their daily lives. It’s become a way of life for them.
Consider the following collection of research stats about Baby Boomers:
Baby Boomers make up 44% of the population and control 70% of U.S. disposable income (source: Nielsen/BoomAgers)
Baby Boomers spend more time on the web than any other media channel, including TV (source: eMarketer)
Baby Boomers spend time and take action on their tablets/smart phone devices. It’s projected that Boomers on the mobile web will surpass 50% this year. (source: eMarketer)
What about social media? Baby Boomers are joining social media at record rates according to a series of reports by CBS News and USA Today. Social networking continues to grow amongst older users (source: Pew Internet and American Life Project)
Take a look at this recent research (Infographic below) from the Spectrem Group on how millionaires are using social media. Close to half of all millionaires are over the age of 55 and 80% are older than 45 (source: TaxFoundation.org). In other words, a good majority of millionaires are Baby Boomers.
The Bottom Line
Many Baby Boomers have time on their hands, control most of the wealth, they spend time online (including social networks) and on mobile devices.
If you truly want reach the “Techno Boomers” of today (your clients and prospects), you need to build an online presence and digital strategy that meets their modern day expectations and experiences. This means creating an online strategy where you can be everywhere that matters; Google and YouTube searches (via publishing to a blog), social networks (Facebook, LinkedIn, Twitter), and email inboxes.
This isn’t just about winning new business, it’s about staying consistently relevant, visible, and valuable in the digital age.
What are your thoughts on reaching Baby Boomers online? Do Baby Boomers make up a big part of your business?