Baby Boomers Boast Big Social Media Market Potential

Can the 40 plus market be the pot of gold after the 20 and 30s rainbow?

Full disclosure: 2010 brings loads of celebrations for me: 25th wedding anniversary, 20th year as a home-based entrepreneur, our oldest son’s high school graduation [where this image was taken] and three children who turn 21, 18 and 16 – wow! life is good. Hey – companies – if you’re looking for a fabulous Boomer spokesperson, here I am.

In April 2009, I wrote about Boomers and social media stats. Because the post attracts a good bit of traffic every month, this tells me that there’s lots of interest out in Boomers and social media marketing.

As a Boomer, I know how much our generation spends. And, I know how much our purchasing decisions are influenced by not just our media habits, but also by others in our household.

[Hey, Old Spice Guy, who do you think is buying Fiji, Matterhorn and Denali? Moms with teenage boys who want them to work out like a gym rat, but smell like they don’t sweat. Thanks for making if fun -seriously – to buy products that make my young men smell like awesome guys.]

Over 78 million people fall into the Boomer category born between 1946 and 1964.

If you’re looking for a reason to looking into this group, check this out. Nielsen recently released a report calledWhy Marketers Can’t Afford to Ignore Baby Boomers.

Mismatch: Boomer Buying Stats and Advertising Budgets

Boomers spend 38.5% of consumer product goods dollars BUT Less than 5% of ad dollars target adults 35-64
Most marketers target 18-39 year olds AND the influential and affluent 40+ market is largely ignored

Nielsen Marketing Facts about Boomers

* Dominate 1,023 out of 1,083 consumer packaged goods categories
* Watch the most video: 9:34 hours per day – really?
* 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

Top 10 Websites for 18-34 and Baby Boomers
Google, Yahoo, Bing, Facebook, YouTube, Microsoft, AOL, and Wikipedia all made both lists. Ask and Amazon rounded out the Baby Boomers list while Fox Interactive Media and Apple were on the 18-34 list. Hat tip to #commentz, produced by Sarah Evans, for the link to the Nielsen post.

Where do Boomers fit into your business?

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