Why is your N2M marketing missing the mark?
Feeling like your New-to-Medicare marketing campaign is stuck in neutral? If you’re not seeing the results you’re looking for, the reason could be that your messages are falling flat with the new age of Baby Boomers.
When it comes to Boomers, it’s important to understand that there are two distinct groups – “Leading-Edge Boomers” and “Trailing-Edge Boomers.” Leading-Edge Boomers, born between 1946 and 1955, have largely enrolled in Medicare. On the other hand, Trailing-Edge Boomers, born between 1956 and 1964, are continuing to age-in over the next five to seven years. These cohorts are very different in terms of health and wealth. And ignoring these nuances in your New-to-Medicare marketing could leave your messaging falling on deaf ears.
1. Fewer are flocking to Florida…
Fewer seniors are retiring to warmer climates as financial struggles have forced many Trailing Boomers to stay put. While most adults felt the gut punch of the Great Recession of 2008, older adults were particularly hard hit. Amid widespread job losses, they faced the hardest challenges in finding new employment opportunities. And with less time than the younger generation to bounce back from financial setbacks, many Trailing Boomers are now compelled to stay in their current homes.1
2. … And fewer are taking vacations.
The traditional notion of retirements filled with travel and vacations doesn’t align with the reality faced by today’s Trailing-Edgers. Financial responsibilities such as mortgages and still supporting children at home take precedence, leaving little room for discretionary spending.2
3. More trust in family and friends.
When it comes to seeking information about health plans, while Leading-Edgers tend to place greater trust in their healthcare providers, Trailing-Edgers demonstrate a higher level of trust in information provided by family and friends.1
4. They’re adapting to the digital era.
Last but not least, Trailing-Edgers are more tech savvy, because they’ve seen tech expand and evolve throughout their lives – from ATMs to smartphones.1,2 They’re no strangers to new digital innovations and incorporating them seamlessly into their daily routines.
So how is this affecting your New-to-Medicare strategy? Check out our other blog, A New Age of New-to-Medicare Marketing, to learn how we’re evolving our clients’ marketing strategy to cater to today’s retirees.
1 Read, L., & Cruse, C. (2017). Understanding the next wave of Medicare enrollees. Deloitte Center for Health Solutions.
2 Fleming, J. H. (2015, January 30). Baby Boomers are opening their wallets. Gallup.com.
https://news.gallup.com/businessjournal/181367/baby-boomers-opening-wallets.aspx
