When Mark Zuckerberg created Facebook, he never thought of the Baby Boomers as the main niche market for his platform, but more than a decade later, the future of this social network increasingly depends on its acceptance among the elderly people.
In 2016, those over 65 were the fastest growing demographic group on Facebook in Australia, an increase that contrasts with a slight decrease in the number of younger users, according to Social Media Sensis Report released last year.
Of this group, young people no longer only share the virtual space with their parents and uncles, but also with their grandparents.
Although young people are still by far the main users of social networks, numbers do not lie: the potential for growth is much greater amongst seniors. It's a shame that not all companies see this great potential. Older people use smartphones and tablets, play video games and buy online, just like the teenagers. In addition, they use social networks to keep in touch with relatives and friends.
A research done by DMN3 on 2015, showed that an overwhelmed 82.3% of Boomers belong to at least one social networking site – Facebook is the most popular site among today’s Boomers.
Baby Boomers take action based on what they see on social media, and most of the time it’s focused on finding more information. More than half of them will visit a company website or continue the search on a search engine after seeing something on a social networking site.
Here are the reasons you should market your products and services on Facebook to Baby Boomers:
1. Baby Boomers have the money
According to the Economic Policy Institute, Boomers and seniors have a net worth 3x greater than that of younger generations, as Boomers’ median household income is 61% greater than pre-Boomers.
And they love to spend their money! As a business owner, you want to go where the money is now, and it’s with the baby boomers.
2. Baby Boomers aren’t that old!
Remember that baby boomers were the first to experience the beginnings of the internet. They did not use stone tablets, in fact, they’re using smart tablets to shop! Baby boomers are fully utilising social platforms and mobile technology.
3. Baby Boomers are active and available on social media
Boomers on social media are growing! By 2050, it is estimated that the Baby Boomers population will more than double to 161 million people (Nielsen). This makes them prime targets for concentrated marketing. Right now, baby boomers can be mostly found on Facebook, Pinterest, and Twitter, according to a study by DMN3.
4. Baby Boomers love to shop online
Boomers are prolific online shoppers. According to Nielsen, a third of them shop online and the 50+ segment spends almost $7 billion in ecommerce. It’s not surprising that Forrester Research found that 72% of adults aged 55-to-63 shop online, and Boomers outspend younger adults online 2:1 each year.
About the Author
Cassia Cruz is a Senior Marketing Coordinator at Feros Care specialised in social media marketing, events management and developing & implementing marketing plans. She is a passionate marketing professional with more than 6 years of experience across a variety of industries including non-for-profit, professional services, education, Agencies and entertainment
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