Baby Boomers are a major demographic to which every savvy business owner should be paying close attention. They are some of the biggest buyers of new technology, and stand to inherit as much as $20 trillion during the next 20 years. If you’re looking to grow your HVAC business, marketing to Baby Boomers is essential.
See Them as They See Themselves
Baby Boomers may be approaching retirement age and headed toward their golden years, but they don’t see themselves as elderly or beyond their prime. This group is lively, active, and feeling younger than ever.
In a 2009 survey, 60 percent of respondents over the age of 65 said they feel younger than their age. A third of those between 65 and 74 felt 10 to 19 years younger. In your marketing and advertising campaigns, be sure to approach this group as the sharp and capable demographic that it is.
Emphasize Quality of Life Benefits
As Baby Boomers age, their focus shifts from achievement to quality of life and comfort. This demographic is distinctly different from the Depression-era generation that preceded them. Baby Boomers belong to the “Me Generation.” Born and raised in an era of consumerism, this demographic will control 70 percent of the nation’s disposable income within the next 20 years.
Baby Boomers are a valuable audience for HVAC dealers because many of them are homeowners. Sixty-two percent of Baby Boomers have lived in their current home for over ten years, and 85 percent plan to stay there. Better yet, 40 percent of these Baby Boomers plan to take on major home improvement projects within three years.
Don’t Shy Away From Technology
There’s a common misconception that Baby Boomers don’t use the Internet or other forms of technology. In fact, Baby Boomers make up the largest constituency on the Internet. A third of Baby Boomers consider themselves heavy Internet users. There are 19 million people over age 55 on Facebook. Forty-one percent of Internet users age 50 to 64 watch videos online. Baby Boomers use tablets and smartphones as well as computers.
Any well-rounded marketing strategy will use a variety of channels, including Internet marketing, radio, television, and direct mail. When targeting Baby Boomers, it’s important to continue using a diversified campaign with synergistically coordinated media because there are millions of Boomers you can reach this way.
Offer Customization Options
The Baby Boomer generation grew up in a time of free thinking and broad choices. Subsequently, they’re drawn to marketing that emphasizes choice and flexibility. A comprehensive HVAC marketing strategy will appeal Baby Boomers by highlighting the quality of life benefits associated to custom installations or flexible maintenance plans.
Baby Boomers are as interested in environmentally friendly options as their counterparts in Generation Y. Baby Boomers are particularly interested in buying energy efficient appliances. Proper ventilation for healthy indoor air was the biggest concern for homeowners looking to make their home greener.
Baby Boomers are savvy shoppers who know a good deal when they find it. Cater to their interests and concerns and your HVAC company can easily tap into this valuable market.
Stay tuned. In the coming months, we’ll cover how home service providers can target Generation X consumers and Millennials with their marketing strategies.
Image via Thinkstock