Finally, someone else is saying what the Yellow Page has known for years — baby boomers are where marketers should be focusing their advertising dollars, and that then means Yellow Pages are the medium marketers should be using if they want to capture those boomer buyers as they are making a buying decision.
At the recent Nielsen’s Consumer 360 Conference, the well-known media and consumer research company said three key consumer groups are rapidly changing for marketers:
- baby boomers,
- lower income consumers.
But it is the baby boomers that really have the biggest prize — disposable income (aka money to spend). Beth Brady, Nielsen’s leader for marketing effectiveness, warned that if advertising dollars are funneled elsewhere: “….It’s a missed opportunity.”
Here are some of the numbers behind these comments: Nielsen indicated that there are 100 million baby boomers — a number which will climb by a third in 2030. Most are growing out of the key 18-49 demographic into the 50+ number. More importantly, they control $230 billion in sales or about half of the total for the entire U.S. And they are not done yet — in five years, they will control 70% of disposable income. Yet by and large, this key core demographic is ignored by marketers who seemed smitten want to reach 18 – 25-year-olds with far less disposable income and needs (as in they don’t have much money to spend).
So why should marketers then consider Yellow Pages to reach this core demographic group? How about this list of key characteristics of heavy Yellow Page users from Dr. Dennis Fromholtzer of CRM Associates:
- Informed & smart shoppers
- Information gatherers
- Adventurous / enjoy taking risks / pursuing challenge, change, novelty
- Culturally sophisticated
- Fashion/style conscious
- Keep up with changes
- Like to stand out in a crowd
- Change brands for variety & novelty
- Influencers – others come to them for advice
Shouldn’t this be the part of the market that businesses are clamoring for? Then Yellow Pages is the most efficient way to reach it 24 hours a day, 7 days a week, 365 days a year…