MetLife Mature Market Institute's John N. Migliaccio on What Direct Marketers Should Know about Middle Boomers
March 17, 2010 By Heather Fletcher
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TM: Which marketers would benefit best from treating this demographic differently from the rest of the boomers?
JM: Middle boomers' biggest concern is not being able to afford their health care costs in the future. And they are getting close to really having to pay attention to retirement issues, as well. ... Many still [face] education costs for their children. Almost a third of them are also anticipating a good-sized inheritance from their parents, so financial and benefits issues are a significant concern. About half of them feel like they're behind in their retirement savings. They've been affected by the recession like everybody else, but also have some time to recover from it before retirement. So safety, financial security and income they can count on are leading issues for them.
TM: What direct marketing channels work best to reach this group?
JM: Middle boomers are hooked into all of them, since they bridge having been exposed to marketing from both new and traditional media. Social media is certainly growing, since it's a way to stay current with their children, as well as more focused social media for business and professional contacts. And Skype may be the new VCR challenge. Remember all those blinking digital clocks? They'd love to use [Skype] if someone would just help them figure out how to do so.
TM: What should direct marketers do to retain these consumers?
JM: Middle boomers offer a wide target since they have personal needs, and also respond to child and grandchild needs and parental needs. And most are two-earner households. Offering resources in all these areas that will save them time while they juggle all these demands is a great way to make sure they keep coming back.
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