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Guest Opinion: Baby Boomers: An Approaching 'Silver Tsunami'
1 Dec, 2007 By: Chas Kutchinsky, Darci Muth ResponseThe demographics of our nation are changing rapidly with a growing 50-plus market segment. According to a recent U.S. Census report, it is projected that this growing Baby Boomer demographic will represent approximately 14 percent of the population in 2008 — that's 35 million people. Television, and DRTV specifically, has become a preferred medium to reach this 50-plus market in order to establish or reinforce a brand and generate inquiries that result in sales for a variety of products. Smart companies utilizing DRTV today recognize the impact and power of this medium.
 Chas Kutchinsky and Darci Muth |
In order to fully utilize the power of DRTV, marketers and advertisers need to understand how the 50-plus market spends. Once marketers and advertisers recognize and understand the psychology of Boomer buying behavior, it is easy to see why DRTV is the quickest way to reach this group. To start, no single group to date has been shaped and influenced by television during their formative years like the Baby Boomers have. Television has entertained them (Ed Sullivan Show), informed them (CNN) and, most importantly, sold them (QVC).
The power of the DRTV medium over all other direct response media (print, Web, radio) has been with us for approximately 50 years. It is perhaps the most powerful and effective tool in today's multi-channel world, offering bold and scalable advertising opportunities that can be measured to an exact cost for generating qualified leads and immediate sales. Yet the concept is relatively elementary: people watch a TV commercial, pick up the phone or log on to a Web site, generating a lead or completing a sale.
Recently, the Consumer Health Awards saluted three agencies — a full-service creative and production company, a full-service DR advertising agency specializing in the marketing of financial services products, and a leading provider of advanced guided selling and market intelligence solutions — as the winners of its "Best Integrated Campaign for Boomers Health & Lifestyle Award." The companies played an integral role in a Medicare product sales and marketing campaign developed by Arkansas Blue Cross and Blue Shield, the state's largest health insurer. The objective was to drive qualified leads via phone or Web for Medicare-eligible Arkansans.
The three companies created a campaign that incorporated several direct response marketing methodologies — including direct mail, newspaper free-standing inserts (FSIs) and DRTV — that were distributed throughout the state. The production house not only created the DRTV commercial driving leads to Web, but will be in production soon to create "rich media" designed for the guided selling solution found on the company's Web site. The advertising focused on several different creative formats and communicated an overall message of "Choice, Simplicity and Guidance," including the idea that you can get what you want in an insurance plan.
No matter how you look at it, one important fact remains: the Baby Boomer market is expected to double to more than 70 million consumers during the next 20 years — creating a virtual "Silver Tsunami" of consumers. Whatever product, solution or information you have to offer this demographic, just remember: everything can be upgraded and made more attractive, and most Boomers are happy to dole out the cash.
When considering promoting your product or service to this approaching Silver Tsunami, you must consider companies that have years of experience creating successful branding and direct marketing visual media for the 50-plus market. Your production and agency partner should have a proven track record in understanding the psychology of Boomer buying behavior. DRTV methodologies can be demonstrative, supportive and beneficial in creating brands and generating leads and sales, along with allowing for quick reaction to competitive challenges, which leads to short-term and long-term success.
Chas Kutchinsky is president and Darci Muth is director of business development for iBox Films. Muth can be reached at (480) 945-5419 or
darci@iboxfilms.com, or visit
www.iboxfilms.com.
