Sometimes all it takes is a headline on a web page to spark one of those soundtrack-of-my-life moments. That was the case coming across The Misunderstood Generation on AdAge.com. Eric Burdon was in good voice as he sang his plea, "I'm just a soul whose intentions are good.
Oh Lord, please don't let me be misunderstood."
Anyway, moving beyond that 1965 moment, the Ad Age piece touched on a new study from Edelman's StrategyOne market research group, which concluded that marketers don't really understand baby boomers even though many of them are part of the generation themselves.
The study found that marketers make a number of mistakes from treating boomers as some sort of homogenous group to downright ignoring them. The result is that marketers often tick-off a generation of consumers with $3 trillion in buying power.
"It would behoove marketers to consider that boomers are not a widespread demographic," Marilynn Mobley, senior VP-strategic counsel at Edelman, told Advertising Age. "Baby boomers have always been considered the 'me-generation,' and that doesn't change with age. We're still just as self-centered and we want things very customized."
Boomers definitely want attention and many are feeling a bit ignored at present. According to the survey, the majority of boomers felt they were being either misrepresented and/or ignored by the media (54 percent), the entertainment industry (91 percent) and politicians (76 percent).
"This is a generation -- because of the sheer size of their demographic -- for which the world has always changed to meet their needs," said Laurence Evans, president of StrategyOne. "They're feeling a little left out by political campaigns, media and TV that are focused on younger groups."
One of the interesting aspects of the study is that 29 percent of respondents who fit the age demographic do not consider themselves to be part of the baby boom generation.
Boomers, big surprise here, are often different based on gender.
Male boomers, it seems, tend to be more optimistic about the future and "consume media with their heads," turning to talk radio and news sources in print and on the web.
Women, according to the Ad Age piece, "seek information with their hearts" preferring to read home, food, fashion and travel features in print rather than straight news.
To succeed, Edelman recommends that marketers focus on "bull's-eye boomers." These are wealthier, influential individuals who are often heavily involved in social and community activities.
"It's really important for a brand to understand who my brand's bull's-eye boomer is," Ms. Mobley said, "and the way to do that is to determine what those 'bulls-eye boomers' consume from a media standpoint."
Mr. Evans said, "Good marketing is ultimately about targeting segmentation, [so] just recognize that boomer is a description of a birthday, not a generation."
Discussion Questions: What mistakes do you see in how marketers communicate with members of the baby boom generation? What do marketers, particularly retailers, need to do if they wish to be successful with this large and diverse demographic?