It's not like this should be big news to you. But most advertisers continually ignore the over 50 crowd, and instead try and reach the 25-55 year olds. (It use to be the desired demo was 18-34 year olds).
Let me share some insight with you as to why the 18-34 year olds were sought after in the 1970's. They were the Baby Boomers, the biggest chunk of the population born between 1946 and 1964.
As we got older, the demo shifted to 25-55 year olds, because that was the age range of the Baby Boomers, the biggest chunk of the population born between 1946 and 1964.
Today, in 2008 the Baby Boomers, the biggest chunk of the population born between 1946 and 1964 are 44-62 year olds. I can't recall the last time an advertising agency ever asked for my radio station numbers for that demo. And I wonder why? The ad agencies should have continued to follow the Boomer money, but most don't.
Why did the Baby Boomers become undesirable? Is it that they have no money? Hardly, they have more than their younger counterparts. Is it because they are stuck in their ways and won't try anything new? I doubt it. Take the internet for example.
Smart salespeople sell to people who have money to spend. Read the following:
Tuesday, April 8, 2008
More Gray, More Affluent, More Internet Shopping
In the more than 80 metropolitan markets surveyed by The Media Audit, a recent study shows that those who are over age 50 with incomes of $50,000 or more (the "graying and affluent") have increased from 17.0 million in 2004 to 22.3 million during the past five years. Collectively, the markets surveyed have an adult population of approximately 142 million.
Bob Jordan, president of International Demographics, producer of The Media Audit, said "Since 2004 the percentage of ‘graying and affluent' households has increased from 13.1 percent to 15.7 percent of all households in the markets (surveyed)... (and) this group is very rapidly embracing the internet as a shopping medium."
In the prior survey, 50.2 percent had made at least one purchase on the internet during the previous 12 months. In the latest survey, that 50.2 percent increased to 65.6 percent.
Currently, 62.4 percent of the "graying and affluent" households have incomes of $75,000 or more, says the survey, compared to 57.5 percent in 2004.
- Thirty-eight percent had incomes of $100,000 or more compared to 32.9 percent in 2004
- Eighteen percent had incomes of $150,000 or more compared to 13.6 percent in 2004
According to Jordan, "The baby-boomers, born between 1946 and 1964, began impacting this segment of the population in 1996, and their impact will continue to be felt through 2014."
Within the gray and affluent group there were important changes in family size:
- In 2004, 61.6 percent of "gray" households had one or two persons. That increased to 63.5 in the most recent survey
- The number of gray and affluent households with 3 or 4 members decreased from 31.2 to 29.7
- Households with 5 or more members declined from 7.1 to 6.8
The gray and affluent households with liquid assets of $100,000 or more increased from 49.5 percent to 53.6 percent and those with $250,000 or more increased from 25.2 percent to 30.2 percent.
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