Marketing to the Generations

Marketing to boomers isn't what it used to be — given that more and more U.S. households are becoming multigenerational. According to a recent Pew Research Center analysis of Census data, as of 2008, 49 million Americans, or 16.1 percent of the total U.S. population, lived in a household with three generations or more.

And the number is growing each year.

The Pew research shows that baby boomers' grown children — faced with limited job prospects and a lack of affordable housing — are often moving back home, as are the boomers' aging parents in need of extra care. Also driving the increase is the influx of Latin American and Asian immigrants, who are more likely than native-born Americans to live in multigenerational households.

These multiple generations represent a host of marketing opportunities — if marketers are able to properly identify and target the various generations living in a given household. That's where the multigenerational data in our National Consumer Database proves invaluable, above and beyond the data available from most list compilers, many of whom identify a household based only on a single surname. In contrast, our database includes in its data those persons whose surnames might be different, in cases where it's indicated the parties are living together.

Multigenerational data gives depth to certain offers: 

  • Real estate professionals can market homes with two master suites, a converted basement apartment or separate mother-in-law quarters
  • Restaurant owners can offer discounts for golden homeowners and children
  • Health care professionals can connect with primary decision makers who have elderly parents living in their homes
  • Travel professionals can market activities that appeal to both the elderly and the young
  • Insurance agents looking to sell Long Term Care policies

That's why it's important for marketers to look above traditional compiled lists to get a more accurate picture of today's living arrangements. Rather than basing information on antiquated surname methodology, we recognize that the current economic climate often calls for not only modified living arrangements, but also a more progressive approach to household data.

Nearly 12 percent of the living units included in the National Consumer Database have multiple surnames present. That means that marketers can potentially save up to 12 percent on a given campaign by using our one per living unit versus other compiler's one per household.

This robust living unit data can give you insight on:

  • Elderly parents living with their children (Elderly parents are defined by an algorithm based on age and the number of individuals in a household.  An EP must be at least 60 yrs old and be 18+ years older than the primary decision maker in the household)
  • Young adults who are living with their parents  (YAs are defined as age 19-25)
  • Primary decision makers with elderly parents living in their homes
  • Primary decision makers with young adults living in their homes

Marketers now have new opportunities to reach multigenerational households, allowing them to target and engage new customers and save on their direct-mail campaigns.

About the Author

Dale "DataDale" Filhaber is President of Dataman Group Direct Mail & Telemarketing Lists, a direct marketing company based in Boca Raton, Florida.  Dataman Group was founded in 1981 and has provided thousands of clients across the country with accurate, high quality direct mail & telemarketing lists.

Dale is Past- President of the Florida Direct Marketing Association and has been active in the Direct Marketing Industry in South Florida for many years, serving as a member of the Florida Direct Marketing Association Board of Directors for the past 18 years.

DataDale, as she is called in the industry, is well known in the Home industry, where she has been a guest lecturer on Marketing at several WQA conferences as well as many national and regional conferences in the industry.

In addition, she lectures at many local colleges, industry and marketing events including the Direct Marketing Association, the Florida Association of Non-Profits, American Marketing Association. She has published numerous articles about Marketing in the Water and Home Industries and is the author of "Ask DataDale", a popular blog for the direct marketing community.

For further information, she can be reached at dale@datamangroup.com.

 

 

Young Turks Episode 10-8-09