How Advisors Can Market to Baby Boomers: “Talking Boomer”

Between the years of 1946 and 1964, it is estimated that 76 million babies were born in America. Known as the baby boomers, many are reaching their retirement years in a drastically changing economy.  

One size does not fit all for Financial Advisors.  Attitudes, values and perceptions are shaped by headlines of the times, politics, economics, people, places, conditions and events. Both Baby Boomers and Millennials require knowledgeable Advisors who understand their own unique issues and can help guide them.  For a look at the Financial Tech Habits of Baby Boomers, check out Part 1 of this series before moving on.

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A common misconception is that baby boomers are not on social media. However, boomers are actually among the fastest growing groups on social media – particularly Facebook, which they consider less impersonal than Twitter. Social Network use among Internet users 50 years and older has nearly doubled over the past year. Social media use is just as strong for those in the 50-64-age bracket with boomers increasing their presence on Facebook by 80% between 2011 and 2014 (FastCompany, 2013). And lastly, the fastest growing demographic on twitter is the 55-64 year age bracket, which has grown 79% since 2012 (FastCompany, 2013).

This certainly points to the importance of having a social media strategy. Throwing more advertisements at baby boomers is an unlikely way to gain clients. Advisors need to stay consistently relevant, visible and valuable where Baby Boomers are spending their time online.  Let’s take a look at some of the most popular websites where baby boomers are hanging out these days:

• Huffington Post 50
• CNN Money & Retirement
• NY Times: New Old Age Blog
• The Retirement Pros
• MarketWatch
• Yahoo! Finance
• SeniorNet
• Baby Boomers Travelling
• Personal Finance for Seniors
• AARP
• Everything Zoomer

Advisors should focus on quality content and creating an online social campaign that will capture the interest of the baby boomer demographic. One way for Advisors to do this on Social Media is to join communities, and follow and engage with the blogs, websites, and organizations, listed above, that baby boomers consider to be respectable, knowledgeable and credible sources. On their social media profiles, Advisors can amalgamate and share articles from these trusted sources to become a go-to online source for clients and prospects looking for useful information, advice, insights and resources. This will help Advisors to display their grasp of helpful thought leadership, to their clients, through surfacing the best content that baby boomers are looking for.

In a digital world of nearly infinite content, an Advisor’s social media presence can become a baby boomer’s one-stop shop for great articles, advice and insights into the Financial Industry.  This will help Advisors to build trust with their followers, and build relationships with others in the industry through sharing their content. Creating and sharing consistent valuable content on Social Media will help Advisors to gain credibility and authority in their industry or niche, which is important for online growth and visibility.

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Is your business marketing to baby boomers online? What strategies have been the most successful for you in reaching this demographic?