By Tom Ryan
With names such as Eons, Rezoom, Multiply, Maya's Mom, Boomj, and Boomertown, a host of social networking sites have been launched targeting baby boomers and graying computer users. The good news for marketers is that, unlike the youngsters going to MySpace and Facebook, the older generation tends to be stickier - or less likely to move from one trendy website to the next.
"Teens are tire kickers - they hang around, cost you money and then leave," said Paul Kedrosky, a venture capitalist and author of the blog 'Infectious Greed.' "The older demographic has a bunch of interesting characteristics, not the least of which is that they hang around."
That perceived stickiness is why a number of investors are sinking money into boomer and older-oriented social networking sites. Among the investments:
- VantagePoint Ventures, an early investor in MySpace, recently led a $16.5 million round of financing for Multiply, a social networking site aimed at people who are settled;
- In August, Shasta Ventures led a $4.8 million financing round for TeeBeeDee, which describes itself as a "place for people over 40 who believe that life is still to be determined";
- Also in August, Johnson & Johnson spent $10 to $20 million to acquire Maya's Mom, a social networking site for parents.
The New York Times article points out that the number of internet users older than 55 is roughly the same as those aged 18 to 34, according to Nielsen/NetRatings. Also, some users of the older-oriented sites feel the experience is more comfortable to them than when they tried MySpace, Facebook or Friendster.
"I've discussed my divorce, my medical issues, and when do I dare go dating again," Martha Starks, 52, a retired optician in Tucson, who spends an hour or two each evening on a site called Eons, told the Times. "I sure wouldn't discuss that stuff with a 20-year-old."
She says she talks about lighter things, too, like movies and music, with an audience that gets what she is saying.
"They don't even know who Aretha is -- she's the queen of soul!," she said.
Meg Dunn, 38, who is raising three children in Fort Collins, Colo., uses Multiply, where she shares family photos with her relatives, and gets into discussions on substantive topics, like health issues and illnesses affecting elderly people.
"I feel like I'm putting down roots, building relationships," she said. "My feeling on MySpace is that people give you a poke, and then they're gone and you never see them again."
The sites are attracting some advertisers too. For example, Eons - describing itself as the "gathering place for people lovin' life on the flip side of 50," counts Humana health insurance, Fidelity Investments and CVS Corp. among its advertisers. Lee Goss, president and chief operating officer of Eons, said that the sites aimed at an older audience may not grow as quickly as MySpace, but could have longevity.
"Our audience, while it is harder to attract, is more durable and sticky over time," he said.
Discussion Questions: What do you think of older-oriented social network websites as a marketing vehicle? How can retailers and vendors fully tap this opportunity? What do you particularly think of J&J's purchase of Maya's Mom, a social networking site for parents?