In yesterday's session, Saskia Schatteman stressed the growing importance of marketing to the Boomers (50+). As it happens I just dscovered an interesting blog entirely dedicated to the subject : the "Baby Boomer Marketing Blog", by the US adman Vince Vassolo.
The quote that drew my attention :
The
worst and perhaps most pervasive rationale for targeting young people
is the notion that if you get them young you’ll have them for life.
This is the idiotic “lifetime value” argument that spawned the dearly
departed “new economy.” Someone please show me one 50-year-old who
drives the same car, drinks the same beverages, wears the same clothes,
or eats the same food he did at 16. I mean, besides my brother-in-law.
• They make up 29% of the population.
• They control 77% of financial assets.
• They control 50% of all discretionary spending.
• They watch 50% more television.
• They are the target for 10% of all advertising.
By the way, Vince is quoting here another blogger 'the Ad Contrarian'. This man, Bob Hoffman, a reputed agency CEO (now of Hoffman/Lewis advertising in San Francisco , earlier a.o. of MOJO/USA) fills his blog with refreshingly contrarian opinions on marketing and advertising.
Quote :
The consumer has become resistant to marketing, right? Bullshit. Here’s what the consumer has become resistant to: generic, undifferentiated products supported by smug, benefit-free advertising.
Both blogs are worth a read !!
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