Baby Boomer women, born between the years 1943-1966, enjoy life more now they are older. They are beginning to find and follow their life purpose.
Female boomers are vibrant, educated, and influential. And studies have shown they control half of the nation’s discretionary income.
According to some sources, women in the U.S. aged 50 and older own more than three-quarters of the nation’s wealth.
Also, midlife women make 85% of the family’s purchasing decisions and are not resistant to leaving a favorite brand if they feel invisible.
For instance, a survey by GirlPowerMarketing.com found that 64.2% of boomer women admitted to dumping a brand because they felt ignored—the brand wasn’t “speaking to them.”
Are you getting the picture?
This “ageless generation” is a dynamic demographic.
With this in mind, here are five “do’s” and five “don’ts” to guide your business if you want to make a connection with this generation:
- Celebrate her self-knowledge that comes with age. Create products that lift her self-confidence. She is not the drab beige, pastel-colored-wearing grandma of days past. Think: jeans and a t-shirt (with high heels), and leather jackets. According to one survey, 86% of senior women believe age does not define style.
- Remember that many boomer women age alone. According to the U.S. Census data (2017), as many as 28 million (37%) of baby boomers are single females. Some love being single. And what do they want? To remain vigorous and healthy.
- Create technologies easy to use. She uses the Internet daily and is comfortable with technology. She shops online because it gives her the chance to compare prices. Most boomer women own smartphones, laptops, or tablets. The Alexa Echo APP is just one example of innovative technology for the aging population.
- Offer her an opportunity to learn. Ensure your products and services provide opportunities to learn more about what matters to her most: healthcare, employment, education, housing, and personal growth.
- Be authentic and honest. Always do the right thing. Nothing will turn off a boomer woman faster than the “snake oil” approach to getting their money. Do respect her intelligence.
- Don’t make her feel old. Her physical appearance may change as she grows older, but her inner beauty as reflected by her maturity, knowledge, intelligence, and experience is a constant. Therefore, to many, the boomer female gets more and more attractive as she ages. Let your products and services confirm her radiance.
- Don’t stereotype. They are not all the same. The senior woman represents a rainbow of ethnicities. She feels self-assured. She controls purchasing decisions in the household, including cars, clothes, and food. She embraces new hobbies, is looking for adventure, and living out her dreams. The Boomer woman is enjoying life as never before.
- Don’t think she is no longer relevant. The empty nester contributes to society through her knowledge and experience in the workplace and the community. She cares for grandchildren. She is also critical (relevant) to your business because she represents an enormous Ignore her at your peril.
- Don’t talk down to her. She is not a simpleton! Not only is she better educated, but the midlife woman of today is also entrepreneurial having started thousands of new businesses in recent years.
- Don’t assume she spends money only to gain approval of others. Understand what she values. Provide solutions to her problems. She is the new “Power Consumer,” and not mainly concerned about looking younger. Understand her needs and perceptions, and you will make a connection.