Surely when the next dictionary comes out Boomeritus will be defined as "a realization that a demographic shift that began 60 years ago has potential for business and the key is a return to tie-dyed marketing and advertising. This attempt by some narcissistic boomers and Madison avenue to reinvent life's third stage as an extension of 60' flower power is crazy. The evidence is every where...Paul McCartney pitching securities, hippies and VW Vans are new icons for Ameriprise, even a Farrah Faucet reality show.
While many of us pan this "60 is the new 30" mentality, others claim that companies are just showing that they know their customer base and really understand that aging baby boomer...they get it - they know where the generation is coming from. Really, but in my 60 years in business, Paul McCartney is not what I think of when it comes to financial or life planning. I love his music; and realize that is what he does.
A few years back, Shearson Leaman Brothers did some GREAT ads that demonstrated they DID GET IT! The ads focused on making continuing contributions, spirituality, changing values. The ads told emotionally moving stories of real life people - not celebrities or yesterday's icons. What's missing from most ads it any realization the importance of autonomy and significance takes on as we enter life's third stage. While many are returning to college, they are not motivated by the sex, drugs and rock and roll images of yesterday; but to learn for learning's sake - to pursue an old dream - or launch a new venture.
As long as companies continue trying to extend youth into the 7th, 8th and 9th decades of life, consumers will continue their apathetic response to the ads being run. Companies should be taking clues from companies that are doing well and succeeding where "youth focused" companies are failing. New Balance shoes have been eating Nike's lunch for years now by focusing on ageless values rather than egocentric, do it now images. Chicos is doing great by selling comfort, Costco builds loyalty by taking care of their stakeholders, and Whole Foods are all growing rapidly without invoking 60's icons...These are the companies that get it.
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