Just back from my first anniversary celebration, which was amazing, I sat down to check my email. I came across a review in TechCrunch for Boomj.com, a social network aimed specifically at Baby Boomers and Generation Jones (1954-1965 in case your wondering; I myself have never until now heard of Generation Jones).
I started to think about the advertising potential on the site if it takes off, which of course is a possibility given the huge possibility of Baby Boomers/Gen Jer’s in North America, so I went to their advertising section and came across these stats:
- According to Jupiter Research, Baby Boomers and Generation Jones account for one-third of the 195.3 million U.S. web users
- Baby Boomers and Generation Jones’ represent over 27 percent of the U.S. population and make up 46 million households. (Time and Business Week)
- Simply based on population growth trends, if a product is marketed to the Baby Boomer and Generation Jones audience and maintains its market share, it should increase in sales by 35 to 50 percent in the next 20 years. (Rick Adler, founder of The Senior Network)
- Baby Boomers and Generation Jones own 65% of the net worth of all U.S. households (U.S. Consumer Expenditure Survey).
- It is estimated that retiring Baby Boomers and Generation Jones will have $1 trillion of disposable income
- Two thirds of Americans that use the Internet are made up of Baby Boomers and Generation Jones’.
- The Boomj demographic is the fastest growing group on the Internet, according to surveys conducted by the Pew Internet & American Life Project
- comScore Media Metrix reports that the number of online adults age 55 and older grew by 20 percent to more than 27 million in 2005
Obviously the potential is huge. I look forward over the next few months of tracking this sites progress and looking for some ROI stats for advertisers on the site although judging by some quick research there are lots of unsuccessful Boomer-targeted sites out there as well as a fair amount of negativity on Techcrunch concerning the term Baby Boomer itself. Everyone seems to have overlooked, with the exception of one commenter, that Generation Jones is undertargeted on the internet despite the fact that the age group makes up a rather large proportion of the North American poplulation. I don’t have exact numbers, but if you take some time to look them up, I’m sure you’ll agree.
July 23, 2007 at 9:21 am
You’re right, it’s amazing that there haven’t been any large sites targeting Generation Jonesers until now, since so many big companies and ad agencies have been targeting Jonesers in the brick-n-mortar world. I think this boomJ site will make a mint, primarily because they were the first to realize the huge money-making potential of online targeting of Generation Jones. I also think the ecommerce component of the site will drive quite a bit of traffic to it.
July 23, 2007 at 12:39 pm
Never heard of Generation Jones before either. But regardless of what they are called, they are still getting older and having to deal with the issues this generation is experiencing – that they are not ready to age. The boomer generation is not like their parents. They will not be retiring without putting up a good fight. They are not ready to sit around and play golf all day. This is an active generation, who is willing to to spend their money on things that will promote their youth and energy. On the other side, they are also experiencing the emotional toll of health challenges, aging and dying parents, kids leaving home, career decisions. My new website addresses those challenges and my new ebook, “Distress-Free Aging: A Boomer’s Guide to Creating a Fulfilled and Purposeful Life,” answers some of their consuming questions. Boomers may be a great marketing target, but they still need emotional support to overcome their personal challenges. Email: amy@bummedoutboomer.com