Baby Boomers should consider online marketing for several reasons. Consider the following: Retirement nest eggs aren’t what they once were; Elder care markets are about to go through the roof; Baby Boomers are a tremendous growth market; Boomers embrace new products and technologies and; Online marketing can be a goldmine.
Retirement nest eggs aren’t what they once. Let’s just get the ugly out of the way. leatheriza Boomers spent their entire career building up their nest egg through savings, stock portfolios, 401Ks, pension accounts, and home equity. However, on the eve of retirement for the first wave of retirement eligible Boomers the nation experienced its worst recession since 1929. We won’t go into all the details of the recession but a few highlights are of interest. Unemployment has been between 8 and 10% nationwide. Homeowners are finding themselves with mortgages greater than the value of their homes. Foreclosures and bankruptcies are at all time highs. It just goes on and on. All of a sudden those golden nest eggs turned into goose eggs for many.
Elder care markets are about to go through the roof. With 77 million people born between 1946 and 1964 (U.S. Census Bureau), which is defined as the baby boomer era, elder care is about to take off. In fact, U.S. Census Bureau data shows that the 50+ age adults will be the only growth demographic (measured by age) between now and 2015. There will be a tremendous market for products and services, the likes of which this country has not seen.
Baby Boomers are a tremendous growth market. The number of U.S. adults over age 50 will soar over the next ten years. According to the American Association of Retired Persons, those aged 50 and older will represent 45% of the U.S. population by 2015. They will continue to use their buying power, developed over the last 40 years, because that is what they are used to doing. And why not, they already control 67% of the nation’s wealth according to the U.S. Census and Federal Reserve. According to the U.S. Consumer Expenditure Survey, 65% of the aggregate net worth of all U.S. households is owned by adults 50 and older. Here’s a staggering statistic that demonstrates just how huge this market is: people in the 50-64 age group had a median net worth of $777,517 in 2009 – almost 13 times the $61,173 reported for the under 35 age group (NetworthIQ).
Boomers embrace new products and technologies. When it comes to embracing new products and technologies Boomers always have been at the forefront. In fact, new products and technologies may well define the Baby Boomer generation. During the course of their adult lives, Boomers have designed, developed, invented, and spearheaded the development of most of the products and technology in use today. Examples include; electric blankets, electric toothbrushes, microwave ovens, electric razors, safer automobiles and airplanes, personal computers, cell phones, PDAs, e-mail, and voicemail, the internet itself, and a wide range of other products. They use electronics at work, and at home. You might say their entire lives have been about change.
Online marketing can be a goldmine. Most retirees will have multiple sources of income in their retirement years. For those Boomers considering post-retirement employment as another source of income, the internet marketing can be a very viable and sensible option. Consumers like shopping on the internet for its convenience and immediate or nearly so access to products. With over 2 billion people on the internet, online marketing gives one an immediate global presence. Again, Boomers represent a huge market to enterprising online entrepreneurs. Here are a few advantages of internet or online marketing:
Advertising- immediate high quality, cost-effective, and long-term exposure compared to other forms of advertising.
Return on investment- daily insight of how much traffic you’re getting, what your sales conversions are, and which products sell the best.
Minimum headaches- no employees necessary although some choose to outsource part of the work. Most online entrepreneurs work out of their homes.
No purchasing or stocking a huge inventory. Many products are electronic or warehoused and shipped by third parties.
Low risk investment with high potential returns.
High traffic median- as of this writing there are over 49 million listings on Google just for the phrase “online marketing.” That shows you there is a lot of interest.
Ease of entry into the marketplace through an online presence. You can literally be online in a matter of a couple of hours with thousands of products available to you.
Training resources and development are readily available. You have to research this one because there are many sources and many price levels. Look for one that offers a tremendous training library with minimal ongoing expenses.
Tremendous income potential- working with the right people (successful online marketers) and emulating their methods will result in some very good income.
Some Baby Boomers are already actively pursuing and achieving their dream retirement years through online marketing. That’s not an oxymoron because you actually can have a great deal of leisure time (retirement) while earning a very nice income (online marketing) because your business works for you 24 hours each day, 365 days a year, and is global. You will want to carefully research online marketing opportunities to ensure a profitable and fun adventure.