5 Insights for Distillers Marketing to Baby Boomers
Chris Mulvaney is the CEO of CMDS. I make things... I’m the creative entrepreneur with passion for (re)making brands and inventing solutions to problems no one knows exist.
As arguably one of the most economically powerful generations, baby boomers (born between 1946-1955) are a very unique demographic who have a very unique marketing challenge. Here are 5 reasons why distillers marketing to baby boomers can be a powerful business decision.
1. They’re a Big Audience
Generational studies show that about 70 million people fall into the category of baby boomers. Making up one of the largest groups of consumers, boomers comprise about 40% of the market share.
Targeting these older consumers definitely makes sense for distillers. And not just because seniors are healthier and living longer than previous generations.
2. They Indulge
According to AARP, “U.S. adults over 50 spend $3.2 trillion annually.” In addition to having the most expendable cash, they also stand to inherit a whopping $15 trillion in financial assets over the next two decades.
In other words, consumers over AARP age have money to spend.
They have the money and they’re interested in products that extend beyond the scope of medical alert devices.
Like alcohol.
3. They Like to Drink
When it comes to occasions for drinking, Boomers skew towards unwinding at home. They’re less likely to purchase alcohol in a restaurant or bar than millennials and Gen Xers, but they are more likely than their younger counterparts to drink one or more times a week at home.
Alcohol is a bigger part of their daily lives. And they’re most likely not going to stop.
Additionally, although alcoholic drinks of choice differ among generations, studies show that consumers from millennials to baby boomers continue to indulge in beer, wine and spirits. And even though they make up just 33% of the U.S. population, baby boomers represent 45% of overall beer, wine and spirits dollar sales.
These findings spell opportunity for distillers marketing to baby boomers. At nearly 50 percent of spending volume, it’s clear that distillers should nurture the relationship with boomers.
4. They’re (a different kind of) Social
As the over-50 crowd who still prefers to leaves voicemails, you most likely won’t find baby boomers on Snapchat or Instagram, but you could find them on the more traditional channels like Facebook and Twitter.
They’re more tech savvy than you think.
It’s too easy to focus digital marketing spend on the younger generations, but, according to Pew Research, as of 2014, 65% of adults aged 50-64 use social media networking sites. The majority of them engaging with Facebook to keep up with long-lost friends.
5. They’re Loyal
If you learn anything from the baby boomer generation, it’s that when they find a brand they like and trust, they stick with it. This presents a unique opportunity for distillers to develop sincere connections with customers.
Recommended Strategies for Marketing to Baby Boomers
If you don’t already have a plan for marketing to baby boomers, here are a few tips to help you get started.
Put in the time. As baby boomers enter retirement, they have more free time, so be prepared to put in some time building relationships. Connect with them on social media by respond to comments and having conversations and stay top-of-mind with regular email marketing.
Make clear promises. If you can prove your product is high-quality and take the time to nurture relationships (just don’t call during dinner), you should be able to acquire more boomers as loyal customers. Stay connected with your community through local events and get the word out through press releases and optimized search strategies.
Cross your t’s and dot your i’s. No matter your audience, website design and content should always have proper formatting. But distillers marketing to baby boomers should pay extra close attention for this experienced crowd.
Find them on Facebook. More than likely you won’t find baby boomers on Instagram or Snapchat. Put your efforts on creating content for Facebook, but keep in mind formatting still applies on social media.
Still got all your marketing money set on millennials? Don’t stop there.
If you’re not tailoring your distillery marketing to baby boomers, now is the time to begin. The sooner you captivate their attention, the less competition you’ll have as other distillery marketers start catching on.