In the research, speaking, writing and reading I've been doing about boomers over the past few years, one thing that always sticks out in my mind about us is that we're all about choice. We want real choices in everything from the biggies, like whom we'll pick for President, to little everyday choices that end up deciding the fates of brands.
Marketers who want to reach boomers need to pay special attention these days because when we start tightening our belts, we pay especially close attention to our choices -- and we reward and punish brands with equal amounts of energy.
I'm a good example of this. I recently bought my second Lexus from Hennessy Lexus in Atlanta. I never even looked at another brand. I just decided one day that I wanted to trade my IS250 for an SUV. The guy who sold me my first Lexus, Don Bonura, had been in regular touch over the past 2 1/2 years, so when he reached out to me a couple of weeks ago with a "howdy note," I wrote back that I was thinking about trading because I really missed driving an SUV, but loved my Lexus sports sedan. Don sent me some information about the RX350, offered some direct online links and made himself available to me by e-mail and phone. I told him what I was looking for and not once did he try to get me to consider something else (a different color or model year); instead, he set about finding me exactly what I wanted. (For you skeptical readers - Hennessy is not an Edelman client.)
Long story short, in a matter of days we struck a deal online and I went to Hennessy and picked up my new RX350. Turns out, though, that Don's day off was the only day I was available, but he came in anyway to make sure the transaction went as he had promised. I was in and out in a jiffy and couldn't be more thrilled with the service or the vehicle. The lesson? I had choices up the wazoo when it came to car buying. It's no secret the industry is hurting and people with good credit and/or money are in a position to be choosey about everything from what they buy to where they buy it to how they buy it.
The last time I shopped for a car, Hennessy had the upper hand. I wanted a hot, new car that was selling at a premium and yet I still was treated as though I was the one holding all the cards. In other words, Don wasn't just selling that car, he was selling the fact that Hennessy should be my choice for all the cars I'd probably buy over several years. (This was optimistic on his part. Until now, I've never kept a car less than five years and I've never bought the same brand twice in row.) But I love great service and beautiful styling.
Contrast that to what happened later that same day. I called my insurance agent to let him know I had made a trade. No call back. I sent an e-mail that night with all the particulars. No response. I called the next day and left a nasty-gram telling him I expected to hear from him within a couple of hours. I got an e-mail acknowledging receipt of my e-mail and assuring me that my policy would be written retroactively to the date of purchase. He then asked if I wanted to keep the same coverage I had on the other car.
Now, I don't know about you, but I don't keep my insurance particulars at my fingertips, and I couldn't instantly recall what coverage I had. I couldn't help but wonder why he didn't include in his note what coverage I already had and even offer changes based on the fact I now own a very different vehicle from the one I traded. The only thing I can figure is he must think that since I've had my insurance coverage with this company for over 20 years, it's just a given I'd stick with him. Well, guess who spent some time over the weekend researching his competitors so I can make a switch? On Monday, I'll e-mail again to let him know what I've learned about choices.
And while I was at it, I dropped my cable company because they sent me an advertisement suggesting I use their service (and the new customer deal was fabulous). When I called to let them know I already used their service and was offended they didn't know that, I got an apology, but they didn't agree to give me the same deal I would have have gotten had I been a new customer. In other words, they were clear that acquisition trumped retention. So I told them to go acquire someone else.
I don't believe I'm at all unusual in my behavior, but I do believe that boomers are going to increasingly look for ways to exercise their choices, especially when it comes to anything involving money. For too long companies have looked at us as open checkbooks who can be bought for a nostalgic song and ads showing an attractive model with a touch of gray hair. No more.
