Exciting achievements are happening at FundKite! CTO Alex Shvarts is a member of the Forbes Technology Council, and his first article on “The Misconception Of Baby Boomers And The Age Of Technology” was recently published.
The article illuminates how marketers often focus on reaching the younger, tech-savvier generations and forget about who they’re missing – those aged 55 and up. As the group with the largest spending power, you don’t want to discredit the importance of the Baby Boomer generation and their use of digital devices.
The article starts as follows:
“Walk into any digital marketing meeting and you’re bound to hear “Target millennials,” “This is what Gen Z wants,” and “The new generation responds well to this content.”
“But what about the rest of the consumer base? Often, in meeting with my own marketing teams, I look around at the young and hip employees who know how to navigate the digital sphere and social media, but have no idea how (nor inclination) to reach the older generations, especially the baby boomers.
“This inattention to older customers through digital advertising is frequent, but there’s no reason it should be. Younger generations may seem easier to reach through YouTube ads and Instagram posts, but the reality is, millennials and Gen Z don’t have any money. You’re targeting an audience with very little purchasing power. Meanwhile, statistics show that approximately 70% of all disposable income in the U.S. belongs to baby boomers, and they make up the largest segment of consumers.
“Don’t leave a customer behind. AARP found that most smartphone owners aged 50 to 59 used their phones to check email, get directions, browse the internet and see news, with more than half also using their smartphones to play games and make purchases. If you think this age demographic is unreachable, you’re missing out on a significant opportunity.”
Shvarts then lists and details five ways in which marketers can reach the the overlooked demographic. You can read them by visiting the full article at Forbes Technology Council.