What To Know About The Decision Process For Baby Boomers tvdmexonline.com /decision-process-baby-boomers/ TVD
Humans always drive the decision process. Frequently the industry and the entire society analyze the baby boomers and their decision process, as the boomers are some aliens from another planet. There are many reasons why the baby boomer segment gets so much attention. It’s a large group growing steadily. During 2017 it is estimated that over 50% of the U.S. population will belong to the baby boomer group. To correctly understand the decision process marketers use to divide the people into the following six groups: GI Generation – born between 1901 and 1926 Silent Generation – born between 1927 and 1945 Baby Boomers – born between 1946 and 1964 Generation X – born between 1965 and 1980 The Y generation also called the millennium generation – born between 1981 and 2000 The young Z generation –born after 2001 Two important reasons why baby boomers always are an interesting target group for marketers. One is the massive size of the segment and the other the strong average purchase power. The baby boomers also represent the first generation that uses the word “retirement” in a different way. With better health and increase of longevity, they view retirement in a different way. It’s the period in life when the focus will be on life quality. Instead of passing the rest of their lives in a rocking chair, behaving according to the old “rules” of old people, they go scuba diving, exercise, practicing their favorite hobbies and traveling the world. The decision process for baby boomers is not only focused on their purchasing behavior, but also on how to continue an active life working on the personal project and income streams. More about this under the title “Decision Process For Active Baby Boomers: Retired But Not Tired” further down.
How To Be Considered In The Decision Process Every serious and professional marketer start the marketing effort by understanding and getting to know as much as possible about their target audience. You can find tons of material elsewhere to understand the baby boomer’s decision process thoroughly. However, seven fundamental rules never can be ignored when attracting baby boomers to your business. 1. Be laser precise on your promises – Never try to win a baby boomer to your business by cheating him or her. You even have to be crystal clear on what you are promising. Trust is key to any successful marketing, but if a baby boomer doesn’t see total transparency in your offer, you can forget about the individual as a
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