Why Generational Identity Matters in 50-Plus Marketing

We’ve seen all the generational age brackets: 18 to 24, 25 to 34, 35 to 44, and so on. It is important to understand demographics by specific age groups, and for advertisers to know how to target them. But do consumers feel personally connected to their ages?

The best approach to age-targeted marketing is to combine both strategies: Recognize that consumer habits and preferences can be understood through the lens of age while also keeping in mind that individuals tend to think of themselves in terms of their generational identity.

The 50-plus audience comprises more than 120 million consumers who contribute $8.3 trillion annually to the economy, accounting for 52% of all consumer spending. Individuals 50 and older are the wealthiest consumers in the United States and a desirable demographic for brands.

Such consumers are likely to identify more with Gen X, for instance, than with being over 50. This generational framing speaks to shared experiences that resonate emotionally, enhances age-based targeting and aligns with how the media frequently frames demographics.

The 50-plus label applies to a diverse and constantly evolving set of consumers who encompass several generational identities.

Boomers, first welcomed into the world in 1946, are unified by their identity as agents of social change at every stage of their lives. They are the first generation to reimagine what it means to be older, and society has come around to embrace that view. Brands today have the opportunity to leverage boomers’ power as consumers to build their brands and bottom lines.

Gen Xers, now in their mid-40s and 50s—with the oldest just turning 60—are in their prime earning years. Personally and professionally, they’re at a dynamic phase of life’s journey. Gen Xers are building wealth and have significant discretionary income to spend on technology, travel, food, fitness and other activities and investments.

In just six years, the first 50-year-old millennials—influential at work and in their communities—will arrive. Millennials are balancing career and family, as well as money and well-being. They love to travel, are foodies and are interested in fashion, technology and luxury.

Marketers will continue to engage each of these generations—and the ones that follow them. For now, they must speak to boomers’ spirit of reinvention, connect with Gen X’s achievement and discernment in their prime earning years and prepare for millennials, who will soon bring their digital fluency and wellness focus to this influential demographic.

By marketing to generational identity, brands can forge stronger connections and lay the foundation for repeating this getting-to-know-you exercise for future generations.

This article originally appeared in AdAge.