The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Who sells predominantly to baby boomers?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Itizn

Contributor
Read Millionaire Fastlane
Sep 25, 2019
37
38
107
Recently been immersed in an industry with a massive talent shortage, as the younger generations are not as enamored with the work anymore.

This means a lot of the people I'm looking to sell to are close to retirement age. We all know baby boomers have access to the most income in the population, but they also have a different approach for purchasing decisions.

Curious if anyone has any advice or insight assuming they also cater to the 65+ age group.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MHP368

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 17, 2016
807
1,240
376
34
Sahuarita AZ
Maybe research the marketing department for rupert murdochs empire , like if you were asking "what products to sell to baby boomers" id tell you just to go watch fox news for an hour.

"How to sell to baby boomers" seems like something gartner would have info on (or again , looking up the ad department for murdochs newspapers and just examining that)
 

BizyDad

Know Thyself
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 7, 2019
733
2,597
639
Phoenix AZ
Curious if anyone has any advice or insight assuming they also cater to the 65+ age group.
65+ is a big range. I'll answer the marketing to "people near retirement" question. The fact is these people have very different habits and concerns than the already retired, and the recently retired are very different form the 85-95 yr olds.

It's important to understand whether you are targeting the poorer of the group, the somewhat stable, or the well off.

The poorer of the group are looking for the best deals. Many marketing whizbang tactics/techniques that work for other verticals will work on this group if they feel like they are getting a deal. Keep in mind large purchases for this group might be harder to close.

As for the other two.

Relationships are big. These are people who have "seen it all". They've been marketed to through so many channels for so many years and seen so many approaches that the less "salesy" you can make your marketing, the better. High pressure tactics are less effective on this group.

They value longevity. You can't just tell them something is "built to last", that's salesy talk, but if you can prove its built to last, you'll stand apart.

I prefer to take a problem solving approach as opposed to a features/benefits approach with this group. But you can certainly still appeal to their dreams or emotions, that's just not usually my style. Lastly, this is one of those quirky rules I've discovered in testing sales copy, but don't use !! in your sales materials with this group.
 

Itizn

Contributor
Read Millionaire Fastlane
Sep 25, 2019
37
38
107
65+ is a big range. I'll answer the marketing to "people near retirement" question. The fact is these people have very different habits and concerns than the already retired, and the recently retired are very different form the 85-95 yr olds.

It's important to understand whether you are targeting the poorer of the group, the somewhat stable, or the well off.

The poorer of the group are looking for the best deals. Many marketing whizbang tactics/techniques that work for other verticals will work on this group if they feel like they are getting a deal. Keep in mind large purchases for this group might be harder to close.

As for the other two.

Relationships are big. These are people who have "seen it all". They've been marketed to through so many channels for so many years and seen so many approaches that the less "salesy" you can make your marketing, the better. High pressure tactics are less effective on this group.

They value longevity. You can't just tell them something is "built to last", that's salesy talk, but if you can prove its built to last, you'll stand apart.

I prefer to take a problem solving approach as opposed to a features/benefits approach with this group. But you can certainly still appeal to their dreams or emotions, that's just not usually my style. Lastly, this is one of those quirky rules I've discovered in testing sales copy, but don't use !! in your sales materials with this group.
Good point regarding narrowing the age, I'd say 62-70 is who fits my profile at the moment.

I agree with what you said, how they value relationships above all else, as that's the impression I've gotten thus far and have also read elsewhere of that being the case.

I do deal with pretty expensive products, but in some cases they've specifically requested it, through no direct pitching of my own. However as of now I'm operating on an approach where I'm being informational and providing them with what I've gathered thus far.

Thanks for your insight. That last note is pretty funny.
 

Kevin88660

Gold Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
1,266
1,361
415
Singapore
Recently been immersed in an industry with a massive talent shortage, as the younger generations are not as enamored with the work anymore.

This means a lot of the people I'm looking to sell to are close to retirement age. We all know baby boomers have access to the most income in the population, but they also have a different approach for purchasing decisions.

Curious if anyone has any advice or insight assuming they also cater to the 65+ age group.
Be respective, nice and sincere. Face to face time counts. As long as you are invest your time you on them you will get predictable result. Because they have the buying power and appreciate your time/work.

Millennials are the other hands on more flaky and chase the latest buying trend that is happening online.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
How much it will cost if I go for a new setup. I was looking for such ideas and I want to take...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Finally! I just launched a short story on Kindle (FREE if you have Kindle Unlimited)! After...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
I planned to make a separate post for this video but it is useful here as well for anyone...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Last promo of the year.. Get the training you need now or miss it. Promo Code: FINALHOUR...
  • Sticky
MARKETPLACE Kill Bigger Incubator
UPDATED POST: Hey Guys! I wanted to give a quick update on what this program has become. In...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom