Aussie survey via Blaze reveals baby boomers can’t get no satisfaction – Australia’s ‘richest and freest’ generation feel largely ignored by brands

On the eve of the latest Australian Rolling Stones tour, a new national survey of more than 1,000 Baby Boomers highlights how they also ‘can’t get no satisfaction’ from brands and advertisers according to research conducted via Blaze, a global strategic insight and business consultancy based in Sydney.

Marketers are failing to understand and effectively engage the majority of Australian Baby Boomers. This means missing out on capturing their sizable disposable incomes.

With Baby Boomers outliving and outspending more than any previous generation, the biggest finding of the survey was that this group don’t recognise themselves in marketing directed towards their age group with 71% expressing dissatisfaction with how they are represented in the media. In fact, 80% of respondents say they feel the advertising industry assumes that all over 50s are the same and 78% say they think companies tend to forget about their generation when developing new products and services.

Says Sara Garcia (pictured), principal of Blaze: “Just like the Rolling Stones, the world’s most famous Baby Boomer band, this generation has always been associated with the rejection of traditional values. They have defied the more frugal or conservative attitude of their parents’ generation and to a large extent, they still do today.”

Unsurprisingly, 69% of respondents say they feel patronised by representations of them in the media and many of this audience have now become increasingly immune to marketing.

“Baby Boomers are at an enviable stage of life where their lives and possibilities are opening up with more freedom, time, dreams and money,” says Garcia, who argues that it is time for the marketing industry to acknowledge that 50 year olds are not the same as 80 year olds, any more than 20 year olds are the same as 50 year olds.

“The industry must recognise and engage this age group, embracing the creative and financial opportunity they represent,” she adds.

When asked about brands whose advertising rated highly with this group, examples provided include Volkswagen, Uncle Toby’s Discovery and Rocky Mountainsholidays. The notion of ‘Florida Seniors’ enjoying a positive, active sex life in the US-based campaign for safer sex for seniors also resonates well with this Australian Boomer consumer.

“Says Garcia: “Baby Boomers are at an important point of change and discovering a new sense of freedom. Rather than retiring from the social, physical, financial and pleasurable pursuits we normally associate with younger generations, Baby Boomers are actually hungry for more and better experiences.”

Confirming this, the survey revealed that 72% of Boomers are willing to try new brands. But in the face of being largely ignored by marketing, they are proactively and confidently seeking their own information independently through online peer group reviews as well as word of mouth.

Putting this ‘lust for life’ in perspective, the national survey showed that Australian Baby Boomers:

    • Don’t recognise themselves in marketing directed towards their life stage, believing it is directed towards an older generation; and,

    • Feel current marketing conversations aimed at them tend to orbit around life closing down rather than opening up, for example banks offering funeral plans rather than business loans.

Key highlights – Baby Boomer attitude towards brands

    • 94% of respondents think that media and advertising should recognise that ‘my age group is still interested in buying new things’.

    • 72% are open to trying new brands.

    • 78% agree that media and advertising should recognise that ‘I have more financial freedom at my age’.

Key highlights – Baby Boomer attitude towards marketing

    • 71% are not satisfied with how they are represented in the media.

    • 80% feel media and advertising assume over 50’s are all the same.

    • 69% feel patronised by representations of them in media.

    • 78% think that companies tend to forget about people of their age when they develop new products and services.

    • 62% believe their age group is largely ignored in media and advertising.

    • 69% pay less attention to marketing than they used to.

The Blaze study also ran a focus group to better understand how Baby Boomers define themselves and uncovered two important self-defining factors.

    • ‘I’m older and wiser’ – Having exercised responsibility and restraint over their years as parents, Baby Boomers have now regained their sense of individuality and self-assurance. Importantly, they no longer use products as a benchmark for aspiration.

    • ‘My best years are ahead of me’ – Baby Boomers recognise that their future has potential and, without the responsibilities of raising a family and with good health on their side, they are re-assessing their life in terms of what the future holds. Many have a new found sense freedom that is urging them to go out and do what they’ve always wanted to do on their terms.

Baby Boomers are defined as being born between the age of 52-68 (source:australia.gov.au), hold 40% of Australian wealth, many (84%) are still in paid workforce and 41% have a desire to spend their kid’s inheritance (source: Mi9 report). The average 1946-born baby boomer who may be only just retired can expect to be kicking up their heels for another 20 years.

The ‘Boomers Brand Satisfaction’ survey was conducted by independent research agency Blaze and surveyed 1,011 men and women aged 50-65 year old nationwide between 31 January and 2 February 2014. An eight person focus group on attitudes towards brands and marketing was conducted immediately before and helped inform the quantitative survey.