I remember getting calls from Agencies and them saying "I need your ratings for 18-49 or this is an 18-34 year old primary target?" and I would cringe because the stations I could pitch were a Classic Rock and an Oldies station. Not to say that we didn't have listeners in those demo's, we just didn't have a majority or a great case to make. Why do agencies ask for that demo? Why do your clients ask for it? Does it match who their customer really is or is it their perception of who they should be seeing through the door? I read something that I want to share with you as it relates to 45-50+ listeners and why formats that own this audience need to be pounding their chests with their clients and sharing the information from "Engage: Boomers" that shares why they are important to Online or Digital Buys even when the buyers have this objection...
"We're using digital media, and we can't reach older consumers online. Those who are online don't know what they're doing beyond email."
Something about that doesnt make sense. How can marketers be both obsessed with digital media and unaware that more than 70% of people 50+ are online, that they go online roughly 29 days per month, and that they account for more than 40% of all online activity? It would be unreasonable to deny generational differences in online behavior, but its absurd to suggest that the older population is only online to send and receive emails.
While younger users often go online as a leisure activity, the driving force behind older Americans' use of the Internet is a sense of purpose. I see evidence of this daily. Visitors to our website have increased by more than 2 million in less than a year, and these visitors spend nearly half an hour on the site per visit. They are looking for information, guidance, tools to manage their daily lives and their futures, entertainment and mental stimulation.
Tumblr, Pinterest and Instagram have not yet caught the eye of the mainstream online Boomer+ crowd, but other networking avenues are becoming well-traveled by these consumers.
- Internet users age 50-64 are nearly 40% more likely than those age 18-29 to use LinkedIn
- 56% of Internet users age 50-64 and 40% of those age 65+ use Facebook
- Internet users age 65+ are more likely than those age 30-49 and 50-64 to use Twitter
You can, in fact, reach the Boomer and older population online, and theres good reason to do so making purchases is one of their top three online activities. They are responsible for roughly 40% of all online spending, and Boomers spend more than any other generation online.
Average amount spent online in the last three months:
Younger Boomers $647
Older Boomers $638
Gen X $581
Gen Y $425
It turns out that those who are most likely to be early adopters of new technology Millennials are the least likely to spend online. They also spend less offline. The most recent spending data released by the U.S. Census reveals that the 50+ demographic is responsible for 47% of all consumer expenditures, and that in the last three years, 50+ consumer expenditures increased by $99 billion, while 18-49 spending dropped $238 billion.
Theres a simple explanation for this: financial stability. Seniors have high accumulated wealth. Gen Xers have high household income. Boomers have both. Millennials have neither.
In light of this evidence, the notion that 50+ are less digitally savvy becomes a weak argument for ignoring them online. Targeting them becomes an even more attractive proposition when we dig a little deeper into online user data. Nearly all higher income Boomers are online, including 92% of Boomers with HHI $60,000+ and 96% of Boomers with HHI $100,000+.
This overlooked online consumer is in need of, and more receptive to, marketing messages specifically tailored to meet their needs and interests. In tough economic times when marketing budgets have been slashed, our website has experienced double-digit revenue growth as more and more advertisers take aim at Boomer and older consumers."