Millennials are frequently featured in news headlines and seem to be the target of many marketing campaigns. While this group—defined by birth years between the early 1980s and early 2000s—is an interesting group to study, advertisers cannot lose sight of another important group—Baby Boomers. These Boomers, born in the roughly 20 year period following World War II, make up 28% of the population and are vitally important to our economy. Currently, Baby Boomers annual spending is $2.3 trillion and 70% of this is discretionary income. Advertisers would do well to acknowledge that baby boomers are tech savvy and curious by nature. Advertisers can take advantage of this by targeting Baby Boomers through not only traditional media but also through various digital platforms.
“To have the opportunity to come out here to show my talent, win a national championship with my brothers, it’s unbelievable. I love these guys like they were my real brothers. That’s it.” – Chane Behanan, Louisville forward
Buried inside this marvelous basketball season for the University of Louisville is a lesson for business. Maybe two.