CBS is by far the “oldest” in terms of audience members – it’s average viewer is 55 years old. Advertisers have long shirked away from older viewers; the conventional wisdom being younger audiences make more money for them. But CBS is bucking that trend, showing a healthy growth in audience quantity – averaging 12.4 million prime time viewers, which is 2.4 million than the No. 2 network, ABC. And advertisers are finally taking notice.
Drug ads and other “senior” focused spots have long dominated evening national newscasts, which also skew older. But with the Baby Boomers aging, advertisers are being forced to look at the sheer number of them and discovering that Boomers actually pay off for them. Boomers have huge purchasing power and will redefine the senior years, just as they have redefinied every other life segment as they’ve moved through them.
The question is – can your company capitalize on this trend? How Boomer-friendly is your messaging? Some things to keep in mind if you want to go after this huge audience:
- Boomers are incredibly independent and want everything personalized for them.
- They like to be made to feel “special” in some way – perhaps a loyalty program that pays off in “exclusive” ways?
- They have spending power. This has diminished slightly given the recession, but they are the beneficiaries of one of the largest transfers of wealth ever in this country, as they take on inheritance funds.
- They’re very focused on their health and “living well.” In their minds, they’ll never get old. Sell them wellness products, not ointments and pills for aches and pains.
- They’re not overly brand-loyal. They will switch brands if given a compelling reason.
- Don’t rely on nostalgia – appeal to their typical desire to move forward into a better future.
Cindy Harris
