MASTERING MANAGEMENT
Tune Your Shop for Female Baby BoomersWASHINGTON (Aug. 12, 2007) -Women in the baby boomer generation are fast becoming the most powerful consumers in America, influencing as much as 80 percent of the $2.1 trillion that boomers spend on consumer goods and services, according to Boom: Marketing to the Ultimate Power Consumer: The Baby Boomer Woman (American Management Association, 2006). At the peak of their careers, these women have more discretionary income than ever and make most of the purchasing decisions for their households. How do you get their attention? Before revamping your marketing materials, authors Mary Brown and Carol Orsborn recommend considering these four facts about the boomer woman: 1. She is loyal to companies, not brands. One of the biggest misconceptions out there is that women grow more brand-loyal with age. While a woman in her 40s, 50s or 60s might continue to purchase a product or service from the same place, most likely she's attached to the company, not the brand. Unlike men, who show habitual buying patterns as they age, sticking with the same brand because it's easier, boomer women are choosy about finding the best quality, service and deals. They also pay attention to a company's reputation, especially in terms of community involvement and social responsibility. They care not only about how respectful a company has been to them in the past, but also how accurately it understands their needs. As Orsborn says, "she wants a relationship with the company - and she wants it to be sincere." 2. She is technologically savvy. Don't assume that just because a woman is older that she doesn't use the Internet. Studies show that boomer women are just as likely to consult Web sites before making purchases as Gen-Xers, Orsborn says. In 2004, women age 35 to 54 represented the highest proportion of Web surfers. Direct catalog marketers even calculate that 70 percent of all online purchases are made by women, many of whom are baby boomers. "This generation of women is on the run, and they're much more high-tech oriented than you would guess," Orsborn says. 3. She still feels young. Most boomer women see themselves as a decade younger than they are, Orsborn says. That means they don't want to be referred to as "golden," "mature," "seniors" or even "middle-aged." While they don't want to see clothes modeled by an airbrushed beauty with perfect proportions, they don't want look at a close-up of a wrinkled hand on a jewelry ad either. They like to see themselves represented in a vital way. "Reading glasses are a perfect example," Orsborn says. "They used to be fuddy-duddy and unfashionable. Now they are hip items that you can buy in different colors at bookstores." 4. She wants to be empowered. Age doesn't define life stage for a boomer woman, who may be an empty-nester, a doting grandmother, a small-business entrepreneur and a dating single - all at the same time. Boomer women are looking for products and services that appeal to their sense of adventure, curiosity, renegade energy and continuous development. "You have to tune into how she wants to be talked to - and that's in a way that's respectful of her growth process," Orsborn says.(Source: National Federation of Independent Business)
Tune Your Shop for Female Baby BoomersWASHINGTON (Aug. 12, 2007) -Women in the baby boomer generation are fast becoming the most powerful consumers in America, influencing as much as 80 percent of the $2.1 trillion that boomers spend on consumer goods and services, according to Boom: Marketing to the Ultimate Power Consumer: The Baby Boomer Woman (American Management Association, 2006). At the peak of their careers, these women have more discretionary income than ever and make most of the purchasing decisions for their households. How do you get their attention? Before revamping your marketing materials, authors Mary Brown and Carol Orsborn recommend considering these four facts about the boomer woman: 1. She is loyal to companies, not brands. One of the biggest misconceptions out there is that women grow more brand-loyal with age. While a woman in her 40s, 50s or 60s might continue to purchase a product or service from the same place, most likely she's attached to the company, not the brand. Unlike men, who show habitual buying patterns as they age, sticking with the same brand because it's easier, boomer women are choosy about finding the best quality, service and deals. They also pay attention to a company's reputation, especially in terms of community involvement and social responsibility. They care not only about how respectful a company has been to them in the past, but also how accurately it understands their needs. As Orsborn says, "she wants a relationship with the company - and she wants it to be sincere." 2. She is technologically savvy. Don't assume that just because a woman is older that she doesn't use the Internet. Studies show that boomer women are just as likely to consult Web sites before making purchases as Gen-Xers, Orsborn says. In 2004, women age 35 to 54 represented the highest proportion of Web surfers. Direct catalog marketers even calculate that 70 percent of all online purchases are made by women, many of whom are baby boomers. "This generation of women is on the run, and they're much more high-tech oriented than you would guess," Orsborn says. 3. She still feels young. Most boomer women see themselves as a decade younger than they are, Orsborn says. That means they don't want to be referred to as "golden," "mature," "seniors" or even "middle-aged." While they don't want to see clothes modeled by an airbrushed beauty with perfect proportions, they don't want look at a close-up of a wrinkled hand on a jewelry ad either. They like to see themselves represented in a vital way. "Reading glasses are a perfect example," Orsborn says. "They used to be fuddy-duddy and unfashionable. Now they are hip items that you can buy in different colors at bookstores." 4. She wants to be empowered. Age doesn't define life stage for a boomer woman, who may be an empty-nester, a doting grandmother, a small-business entrepreneur and a dating single - all at the same time. Boomer women are looking for products and services that appeal to their sense of adventure, curiosity, renegade energy and continuous development. "You have to tune into how she wants to be talked to - and that's in a way that's respectful of her growth process," Orsborn says.(Source: National Federation of Independent Business)
