Boomer Boon: 'Crazy Aunts and Uncles' Spend $1.7 TrillionAnd the best part:
The ad business is woefully out of touch with baby-boomer buying power. Young ad people think older people are stuck in their ways, so it's a waste of money to try to get them to change brands … a prime-time TV show with most of its viewers in the 34-to-49 range can get 30% more per ad minute than one that caters to people 55 and older. Yet consumers age 50 and up already spend more than $1.7 trillion on goods and services a year …
Agencies like to think of themselves as the last bastion of creativity, but they're in many ways the most calcified part of the process. Enlightened clients are beginning to realize this resistance to change is holding them back; the next step is to bypass their agencies' counsel.It's my book/blog/consulting/speaking/creative strategy in a nutshell.
May 9, 2007: A follow-up piece by Rance Crain, You Know Who's Boss -- Consumers