Baby Boomers: An Approaching
‘Silver Tsunami’
By Chas Kutchinsky
and Darci Muth
The demographics of our nation are changing rapidly with a growing 50-plus market segment. According to a recent U.S. Census report, it is projected that this growing Baby Boomer
demographic will represent approximately 14 percent of
the population in 2008 — that’s 35 million people. Television, and DRTV specifically, has become a preferred medium to reach this 50-plus market in order to establish or reinforce a brand and generate inquiries that result in sales
for a variety of products. Smart companies utilizing DRTV
today recognize the impact and power of this medium.
In order to fully utilize the power of DRTV, marketers
and advertisers need to understand how the 50-plus market
spends. Once marketers and advertisers recognize and understand the
psychology of Boomer buying behavior, it is easy to see why DRTV is the
quickest way to reach this group. To
start, no single group to date has
been shaped and influenced by television during their formative years
like the Baby Boomers have.
Television has entertained them (Ed
Sullivan Show), informed them
(CNN) and, most importantly, sold
them (QVC).
The power of the DRTV medium
over all other direct response media
(print, Web, radio) has been with us
for approximately 50 years. It is perhaps the most powerful
and effective tool in today’s multi-channel world, offering
bold and scalable advertising opportunities that can be
measured to an exact cost for generating qualified leads
and immediate sales. Yet the concept is relatively elemen-
tary: people watch a TV commercial, pick up the phone or
log on to a Web site, generating a lead or completing a
sale.
Recently, the Consumer Health
Awards saluted three agencies — a full-service creative and production company, a full-service DR advertising agency
specializing in the marketing of financial services products, and a leading
provider of advanced guided selling
and market intelligence solutions — as the winners of its
“Best Integrated Campaign for Boomers Health & Lifestyle
Award.” The companies played an integral role in a
Medicare product sales and marketing campaign developed
by Arkansas Blue Cross and Blue Shield, the state’s largest
health insurer. The objective was to drive qualified leads
via phone or Web for Medicare-eligible Arkansans.
The three companies created a campaign that incorporated several direct response marketing methodologies —
including direct mail, newspaper free-standing inserts
(FSIs) and DRTV — that were distributed throughout the
state. The production house not only created the DRTV
commercial driving leads to Web, but will be in production
soon to create “rich media” designed
for the guided selling solution found
on the company’s Web site. The
advertising focused on several differ-
ent creative formats and communi-
cated an overall message of “Choice,
Simplicity and Guidance,” including
the idea that you can get what you
want in an insurance plan.
No matter how you look at it,
one important fact remains: the
Baby Boomer market is expected to
double to more than 70 million consumers during the next 20 years —
creating a virtual “Silver Tsunami”
of consumers. Whatever product,
solution or information you have to offer this demographic, just remember: everything can be upgraded and made
more attractive, and most Boomers are happy to dole out
the cash.
When considering promoting your product or service to
this approaching Silver Tsunami, you must consider companies that have years of experience creating successful
branding and direct marketing visual media for the 50-plus
market. Your production and agency partner should have a
proven track record in understanding the psychology of
Boomer buying behavior. DRTV methodologies can be
demonstrative, supportive and beneficial in creating
brands and generating leads and sales, along with allowing
for quick reaction to competitive challenges, which leads
to short-term and long-term success. ■
