Showing posts with label LinkedIn. Show all posts
Showing posts with label LinkedIn. Show all posts

Tuesday, July 26, 2011

The ignored digital baby boomer

I'm a digital immigrant, as are all Baby Boomers. We grew up with 5 or 6 channels of TV, black phones with cords, and 8 Track tapes. Defined as people born between 1946 and 1964, Baby Boomers are the largest segment of the US population, have the most wealth (despite the setbacks of the last few years), and should have more available time to spend online given their kids are grown and some are approaching retirement (ok, maybe not so much given the economy). For the first time in history, there are more people over the age of 65 than under 5. But reading about technology and business, it seems that the Baby Boomer generation which got so much attention in the 1980's and 1990's has disappeared. They're not on Foursquare, they don't tweet. They've learned to text, at least those with teenagers, and they like iphones but still don't use the mobile web very often. They watch TV on, well, a TV. And the vast majority of startups don't seem to be targeted to them.

Fact is, Facebook only became big when the baby boomers started going on and using it. Zynga's games, particularly Farmville, took off when 40 and 50 something women became obsessed about getting a tractor. The growth of Flash Sale sites (and to a lesser extent daily deal sites) have been driven by boomers. And LinkedIn's valuation (and value) is a direct result of baby boomers connecting with one another. Baby boomers drive the Internet economy, but there is still a dearth of products and services specifically targeted to support them. For example, a recent report indicated that the most expensive keyword to buy on Google is Insurance. Think Gen X or Gen Y is driving that? Boomers have been distracted for the last decade dealing with paying for kids in college and aging parents, with little help from the Internet. Where is a a one stop resource for elder care? A good financial planning site besides Mint? Advice on funeral preparation to help with dealing with lost parents. When marketers start to figure out products and services for Baby Boomers, you'll see another step function jump in E-Commerce and Internet advertising revenue.