Could you please introduce Imago Creative and its expertise on the U.S. market?
Imago is the only strategic marketing firm in the U.S. specializing exclusively in what is increasingly recognized as the “sweet spot” for a broad spectrum of industries: the convergence between women and Baby Boomers. Our veteran team of strategists, innovative designers and researchers are immersed in the most current trends in marketing to Boomer women enabling us to offer our clients an effective blend of knowledge and implementation offered by few other marketing-to-women firms.
Since its inception in 1995, Imago Creative has partnered with clients ranging from fashion to food, and furniture to finance, creating cohesive brands with market presence and results-driven strategies. Some of the leading U.S. brands we have worked with include Celebrity Cruise, L.L.Bean, Bank of America, Apple University, Warner Bros. Records, The Walt Disney Company and The Gap.
What are the main industries leading the charge on marketing to Baby Boomer women?
These women are not a niche market for a specific industry – they are THE MARKET for industries savvy enough to understand their needs and perceptions, their life transitions and their deep-seated hopes and fears.
Apparel marketers like The Gap (Forth & Towne), Chico’s and Boden are piloting the marketing to Boomer women movement. Considering their needs and preference to project a youthful but sophisticated image, these marketers have not just widened waistlines and added elastic. They are actually focusing on comfortable clothing using unconventional fabrics and decorative touches that deliver a new, defining style for middle age women.
The electronics and technology industry as well has sidled up to the bar to claim their share of her wallet. Launching two boutique concept stores aimed at women, Best Buy introduced EQ Life and Studio D this past summer. “We’ve determined that women’s needs are not being met,” acknowledged Pam Langseth, Innovation Development Director at Best Buy.*
We are really at the genesis of this movement where no one industry has taken the lead, but the ones to watch include Vacation and Travel, Health and Fitness, Financial and Real Estate/Home Improvement.
The key? The call for marketing to women must be so embedded in the organization that there isn’t just one champion.
We have found that companies fail in marketing to women because the corporate commitment is weak and there is not an intrinsic drive to implement a new strategy. Marketing to women cannot be an initiative, but rather needs to be part of your overall marketing mix and a means of doing business.
What’s unique about marketing to Women 40+?
The Boomer generation is sizable, spanning a total of 18 years (1946-1964), in contrast to those who follow—GenX—which spans only 11 years. Because it is such a large demographic, it’s broken into two categories, leading-edge and trailing-edge Boomers.
The leading-edge Boomers (over 50) are closer to retirement (if not retired already), are exploring some untapped talents and interests and are more likely empty nesters. On the other hand, younger Boomer women are in their 40s, maybe still with children at home, and very focused on their careers. These two groups often have different needs and are receptive to different messaging. Use segmentation to tailor communications to their particular lifestage and reality. However, while these women are complex and different, there are common threads that marketers can leverage to broaden the resonance of their message with Boomer women.
These women as a whole, regardless of age, ethnicity or life-stage are looking for commonalities to create connections whereas men look to differentiate themselves to be more unique. Create opportunities for women to connect with each other and your brand in a communal nature. Also, women tend to be multi-taskers and therefore are often overcommitted and time starved. Remove the complexity from your communications, promotions, and web site to make your brand uber accessible.
Avoid basing your marketing messages on outdated, stereotypical notions of “middle-aged” women. Historically, once a woman hits 40, society relegates her to invisible status. Whereas, in reality, Boomer women often express feeling they are entering the most vibrant time of their lives and just hitting their stride. Strive for copy, imagery and brand values that balance her aspirations to embrace a youthful outlook and the reality of becoming older and wiser.
How can online marketing be adapted to Women over 40? Is there a strategy to attract them online?
In 2004, women aged 35-54 represented the highest proportion of Web surfers, compared with male Boomers and all other demographics. Not only is the discretionary income of Baby Boomer woman greater than ever before, they also make up the most consumer-educated group surfing the Internet.
For this multi-tasking maven, the Web is not a toy. When she’s online, she’s looking for a connection. She wants products and pertinent information that relate to her health, her family, her life. She knows exactly what she’s looking for, searching the web efficiently—viewing 40 percent fewer pages than men—and when she achieves her goal, she’s gone.
Her favorite sites connect with her on multiple levels, are thoughtfully planned and simply designed. Almost 65 percent of women rate good design and ease-of-use as extremely or very important qualities in a website. Flash intros, tiny type and multiple download requirements may be the recipe to attract a twenty-something, but not the Boomer woman.
Sites that customize information to her needs, recommend relevant products, offer expert advice or keep a running list of items she would like to receive or purchase will become her top destination. She’ll return the favor by telling family, friends and colleagues about companies that help her achieve even more within the time constraints of a day.
Filtering tools are another tactic marketers can employ to simplify the web experience and help women get to what they are searching for quicker.
Consider using filtering tools that go beyond just narrowing search options but rather are interactive and fun–essentially the Lucky magazine approach to the Internet. Check out china manufacturer Lenox’s « Entertaining Quiz for Brides » as an example.
What is the potential of the 40+ Women’s market?
Beyond their sheer numbers (there are almost twice as many Boomers than Gen Xers), Boomer households spend an additional $10,000 more every year on consumer goods and services than their younger cohorts. Boomer women influence 75% – 85% of household purchasing decisions.
Moreover, with more established careers than younger generations, Boomer women are at the peak of their earning potential. Eight out of ten Boomers say they don’t plan to retire (AARP), with an estimated 52% increase in the category of women 55+ projected for the work force by 2010. (Bureau of Labor Statistics, American Demographics March 2003.) Not only will they continue to earn income, but within the next decade, many Boomer women will be managing inheritance windfalls from their parents and husbands.
As these women redefine retirement and continue to express themselves as evolving, individualistic women, they will continue to be a consumer force influencing trends, styles and how we market to them.
* Alan Wolf — TWICE, 6/6/2005
Laura Hnatow is Managing Director at Imago Creative, the only strategic marketing firm specializing exclusively in building brand relationships with women 40+. For more information, visit www.ImagoCreative.com.