It has been said, “the best offense is a good defense.”
As the marketplace continues to bustle with activity and competitive pressures continue to be a topic of conversations within boardrooms and on Wall Street, there is currently a group of consumers that are being overlooked.
Many marketers are so focused on the younger generations that they have forgotten about baby boomers. This group is actually very technology-savvy. They embrace technological trends such as social media and actively use the internet to research, comparative shop, and make purchases. Unlike their parents and grandparents, who had to grapple with learning new technologies, baby boomers don’t hesitate to use technology to make their lives easier.
Here’s the missing link—many retired baby boomers do not feel businesses have factored in their preferences. They believed they are overlooked. Baby boomers don’t plan on sitting on a rocking chair and watch life pass them by. Here are a few trends about this segment:
- Actively purchase goods/services online
- Prefer to do business with those businesses that offer home delivery
- Many retail store-fronts don’t have adequate space for wheel-chair accessibility
- Will order online and pick-up at store, drive-thru, etc.
Many baby boomers are affluent and need basic necessities as well as luxury items. The beauty of small businesses is that they can make changes quickly compared to larger businesses. Therefore, small business owners should consider how they can adapt their business process to capture this low hanging fruit.
Consider what would be the impact if you received just 10 percent more in sales by offering delivery services. Factor in your cost to do it and decide if small changes are worth the overall business potential. Communicate these changes in your advertising messages.
Since most industries are not growing fast, stealing share has become the main method to grow. Be sure you are the one doing the taking and not the one losing share.
Adele Lassere is a marketing/advertising consultant with 20+ years experience, freelance writer and author of “Elements of Buying” (self-help advertising guide); available at Amazon.com. Adele was listed as Black Enterprise’s 2011 Top Execs in Marketing & Advertising and Black Enterprise’s 2013 Top Women Executives in Advertising & Marketing. Contact: firstname.lastname@example.org