John Erickson had an idea to target the growing baby-boomers generation – start a TV cable channel targeted directly to seniors.
With talk shows related to aging related diseases, medicare and insurance, and reality shows, this idea targets directly to the 50+ age group.
LA Times notes, “According to the 2010 census, there are more than 99 million Americans older than 50. The over-50s are also one of the fastest-growing groups on Facebook.”
It’s also often overlooked that this older generation has the money to spend on consumer products, which is why it makes sense for advertisers and businesses to target the senior population.
The problem with this idea is that statistics show baby-boomers generation uses the most media outlets of all the other generations, dipping into both local, broadcast, and cable news casts, read the daily newspaper, and listen to the radio. This is compared to GenXers that get most of their news from online sources.
Ethnic and minority groups have their own set of channels they watch that are in their native language.
This new focus in the industry is a result of people realizing that old people are no longer the stereotypical “out of date” homebody. The baby boomers today are technologically friendly, adept at social media, and have the income to be an advertising target.
According to polls and statistics, the 50+ age group owns more homes than any other age group, purchase 41% of all new cars, and are also most likely to buy online (Baruch College-Harris Poll commissioned by Business Week).
The sentiments of advertiser Frank Kaiser represent an issue that advertisers need to rethink:
Even when they actually want to reach us, advertisers biggest blunder is thinking that old people are old.
- Senior Citizens Lead U.S. in News and Information Consumption
- Secrets of Successfully Advertising to Seniors
- RLTV Targets Aging Boomers