Marketing to the baby boomers

THE power of the baby boomer generation in shaping the media was graphically illustrated this week with the release of the results of the third radio ratings survey for 2001.

Market leaders 94.5 scooped 35.8 per cent of the 40-54 age group – a massive 24.7 per cent ahead of its nearest competitor – and captured 18.6 per cent in the 55-plus demographic.

The radio stations which have secured a piece of the 45-plus pie have invested in a burgeoning and influential market.

Based on figures release by AC Nielsen and AGB McNair, the population growth of people aged 45 to 59 in the period 1990-2000 years was 52 per cent, compared with just 6.64 per cent in the 25 to 39 age bracket.

94.5’s position as market leader is driven by a strong 45-plus audience, and the station’s advertising clients are scrambling to reach this diverse and increas-ingly mobile demographic.

Mix 94.5 and the All New 92.9 managing director Gary Roberts said the entire station was focused on the baby boomers.

“We’ve said it since 1992 when I started. It’s a large and growing niche and it’s the money demographic,” he said.

Traditionally, advertisers have targeted the 25-39 age group because of its high level of disposable income.

But now, the baby boomers are enjoying a lifestyle with fewer financial responsibilities and a fairly high level of financial liquidity.

Superannuation and financial services businesses have tailored marketing material over the past few years to address the needs of the over-50 population.

Mr Roberts said 94.5 worked closely with research material to develop strategies to deliver

the best result for advertisers.

“You can’t ignore a population bulge like the baby boomers. They have a huge impact and it’s totally different to the generation before,” he said.

“The baby boomers are now in power and it’s never been clearer. The baby boomers are here and they’ve got control.”

If the population growth trends of the past 10 years continue, the 35 to 59-year old market will represent 50 per cent of the total population by 2010.

Core Marketing managing director Yvonne Renshaw said the baby boomers had been a very lucky group of people in many respects.

“They’ve dominated everything in the era they’ve lived in.” Ms Renshaw said.

“There is no doubt that you will find whatever that (50-plus) group is interested in will attract industry and manufacturing.”

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