Category: Boomerology

Posted on

What is the new normal for baby boomers?

baby boomers

From 79 million baby boomers in the US, 43 million of us are taking care of someone older than 50.
Baby boomers are also not getting any younger. Every day 10,000 boomers hit 65 years of age and since all boomers want to live forever, they are conscious about their health and consume more supplements than any other group, they might as well become the first generation to take care of its parents for as long as it cared for its children. But they want to do it their way.

Care giving is really becoming a common word in any boomer vocabulary.

Even though care giving might be the right word, many boomers just see themselves as the spouse, the son or daughter and they see themselves doing what is expected of them without any labels. Boomers after all don’t like labels. But this can also be an issue since they don’t tend to look for resources related to caregivers which impact them as caregivers as well as the aging parent.

For businesses selling online this means thinking outside the box when looking for keywords. The obvious is not what people search. They search for a solution to a problem according to their views.

For example, instead of searching for a “bed rail” for an aging parent, he/she might search for “stop falling out of bed”.

Because boomers want to live forever, talking about aging or care giving can lead to a stressful conversation but is also important that this type of conversation occurs.

Again, to make this conversation easier specially when addressing the fact that baby boomers are aging, refer to “a new phase in life”, just never call a boomer “old”

Freedom is an important concept to boomers specially when we take into consideration that most of them are empty nesters really immersing in a whole new phase in their lives. They can easily understand the importance of being independent when relating to their aging parents. These are concepts to explore in your marketing as well.

The concept of their parents being safe and having peace of mind is also crucial when we take into consideration that many boomers become distant caregivers and parents tend to stay into their own homes longer.

When marketing to boomers, words matter a lot. They want innovation, a honest conversation, freedom, peace of mind and are not so price conscious as their parents.

This different behavior might provide an extra challenge when marketing to this generation but can be extremely profitable since this group is known to be big spenders and hold a tremendous buying power.

 

Posted on

How Network Marketing Can Save Baby Boomers From The Retirement Crisis

There are 90 million baby boomers between US and Canada (baby boomers are people born between 1946 and 1964.) Although this generation is known to spend 2 trillion a year and is said to have a disposable income of $24,000 a year, a significant part of this population is in trouble when it comes to retirement.

Yes, baby boomers want to live forever, we are entering middle age kicking and screaming, and we say we never want to retire because we love to be active but reality shows that many boomers wouldn’t be able to retire even if they wanted to.

First we are big spenders. We like to buy, we love Infomercials, we fall for advertising all the time because we grew up with it, and we don’t save.

  • 50% of boomers don’t expect to retire before 65 and 24% before age 70.
  • 13% expect to never be able to retire.
  • On average most boomers figure they will retire around 68.

According to a survey done by EBRI, here are some staggering numbers when it comes to baby boomers and savings:

  • 60% have less than $100,000 in retirement savings
  • 43% have saved less than $25,000
  • 36% have saved less than $10,000

As a point of reference, of all workers surveyed:

  • 76% have less than $100,000 saved
  • 57% have less than $25,000 saved
  • 46% have less than $10,000 saved

Just to put this into perspective, one night in a hospital could cost you over $10,000

You can add to these grim figures the fact that a lot of baby boomers work because they have to, and not because they are connected to their own higher purpose, and baby boomers want to live their purpose, they care about leaving a legacy, participating and becoming relevant in their communities.

So, is there any hope for baby boomers or is it too late?

If you didn’t start saving early can you still have a confortable life and be finacially free in your late years?

Yes you can if you consider network marketing. Yes, I know, there is a lot of prejudice in this industry, but there is a lot of prejudice in other industries as well. Any car sales people out there?

Network marketing is just a distribution method where your investment to start is usually very low, no prior knowledge or degree is necessary, and a lot of support is provided! Very different than starting your own business from scratch where you have a lot of uncertainties, have to go without a salary every now and then (probably more often than you would like to admit,) you have to erase the word security from your vocabulary, and you have to figure out things on your own all-the-time!

Network marketing offers you recurring income which means you know how much is coming in for the month. It comes when you get sick, or when you travel, or when you spend a week visiting grandchildren.
It is a great way to supplement your retirement income.

Network marketing companies offer a lot of personal growth resources which is always very appealing to baby boomers, but most of all it is a channel through which you can impact other people’s lives, live your passion and feel relevant.

Yes, some people never accomplish anything in network marketing companies, but the sad truth is that for most that is mostly just a matter of attitude and wrong mindset. If you stop to think about it, network marketing has a simple model that is aligned with the sharing economy we now live in.

In the end it comes down to a simple choice: to spend the rest of our life working without being connected with something that really matters to us and be afraid of not having enough in our late years, or to align ourselves with a passion.

Now, in order to save your retirement you need to start fast, and start as soon as you can. Time is our most precious asset and we don’t have enough of it.

Which type of network marketing company should you choose? There are many options out there and the compensation plan is a key point to look at carefully.

Remember that we tend to duplicate with people like ourselves and baby boomers have a new appreciation for a healthy lifestyle. This group spends a lot in diets, supplements and exercise. The diet, nutrition and personal care industry is a 56 billion dollar industry and it is expected to double in the next five years.

baby boomers

Shahar Boyayan is a marketer that specializes in Selling to baby boomers. She hosts a weekly TV show called Boomerology Revealed and yes she is involved in networking marketing.

She has  a thriving organization in a Natural healthcare company where we educate people on essential oils. They are phenomenal, affordable and effective. You just educate people.

She is  looking for leaders that want to build an organization and have around 1 hour a day to devote to it. 

If interested call me at: 801-680-7220 or write: letschat@healthessentialists.com

Posted on

U.S. Government’s Pipeline of Young Workers Is Drying Up

A reputation for bureaucracy and hierarchy is helping to discourage young Americans from taking government jobs; in a poll of undergraduates, just 2.4% of engineering students and less than 1% of business students listed only government agencies as their ideal employers, according to the Wall Street Journal. Just 7% of the federal workforce was younger than 30 in 2013, compared with more than 20% in 1975, leaving the government without a pipeline of young workers in an increasingly digital age.

SOURCE: U.S. Government Struggles to Draw Young, Savvy Staff

Posted on

A Key Ingredient for Creating Start-Ups: Young People

The presence of young workers appears to be necessary for the creation and growth of new firms, particularly in industries where young people have key technical skills, say Paige Ouimet of the University of North Carolina and Rebecca Zarutskie of the Federal Reserve Board. For example, in the electronics industry, a 5% increase in the share of youth in the population leads to a 1-to-2-percentage-point increase in the rate of new-firm creation, according to the researchers’ analysis of U.S. Census data.
celebrity based branding
SOURCE: Who works for startups? The relation between firm age, employee age, and growth

Posted on

Marketing for baby boomers: Talk on an emotional level

Here is an example of a video ad from Duracell that talks on an emotional level. Notice that is does not promote the product but the message.

The brand engaged a new campaign called “Trust Your Power” with its debut on January 10th. The video strikes close to 5.9 million views in a week after being launched. Now it has over 22 million views

This is something quite special because Duracell didn’t run the ad on TV.

Marketing on an emotional level works for any generation but it is very powerful when marketing to baby boomers

 

Posted on

Baby Boomer Marketing: Being Treated as Invisible is More Harmful than Harassment

Although surveys show that people consider it more psychologically harmful to be harassed than ignored, workplace ostracism turns out to have a bigger impact than harassment, doing greater harm to employees’ well-being and causing greater job turnover, says a team led by Jane O’Reilly of the University of Ottawa. Ostracism is also more common: Of more than 1,000 university staff members, 91% reported such experiences as being ignored, avoided, shut out of conversations, or treated as invisible over the past year, whereas 45% reported being harassed, such as by being teased, belittled, or embarrassed.

SOURCE: Is Negative Attention Better Than No Attention? The Comparative Effects of Ostracism and Harassment at Work