Boomers will spend on prevention, indulgence. Is this where you come in?
"We have a nation of first-year medical students!" So declared Meg Wash, a partner at CommonHealth, and keynote speaker at the Consumer Health World Conference in Chicago earlier this week.
She went on to explain that Boomers are voracious researchers who put their online search capabilities to the test when it comes to healthcare. Apparently, we spend more time looking up medical conditions, self-diagnosing, and reading about drug warnings than just about anything else. We don't just take our doctor's word for it when told about a condition or how to take prescriptions.
One number she cited really surprised me: she said half of Boomers and Matures don't fill the prescriptions their doctors give them. Money plays a factor many times, but they also don't just do what the doctor recommends. In addition to research, they seek the opinions of influencers, which include family and friends. (Pay attention to that, marketers... if you want Boomers to consider your offering, you need to convince the people who convince them.)
Boomers are also all about prevention. That's one reason 20% of us now belong to gyms and the number of Boomers enrolled in yoga classes is tripling annually. And Lord, do they need it! Boomers tend to be stressed, rushed and exhausted, especially women.
How can marketers help? Offer Boomers products and services that make their lives easier, that give them 10 minutes a day to be self-indulgent. As Ms. Walsh noted, no company does this better than Starbucks.
People don't go there to buy coffee so much as to get a break by enjoying some music and people watching as they sip on a flavored, pricey drink. That's why Starbucks is a destination, not just a place you happen by (though, it's really hard NOT to happen by one since they've been built on 3 of every 4 corners in the U.S.).
As you think about your products and service, consider how you can market them to Boomers as something they deserve to use. Sell to their mindset, rather than their wallet.
How is your company doing this?
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