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BizReport : Loyalty Marketing : January 27, 2017

Report: Boomers want personalization, individuality

Baby Boomers may be thought of as the generation with the most extra cash to spend, but one new report indicates they aren't loyal with that spending money. More than half of Boomers, according to the study, will shop competitor brands if the price and experience are better.

by Kristina Knight

New data out from SSI and ICLP finds that retailers may want to do more to build loyalty with shoppers over age 55 (Baby Boomers). That is because many feel 'overlooked' or 'not rewarded' and will shop where they feel they aren't overlooked - even if that means a competitor store.

"Brands typically target their mobile and online marketing efforts at Millennials, regardless of what type of brand relationship they are in, because they are the largest and most tech-savvy generation. However, by doing so, they risk overlooking Baby Boomers, who are also highly influential and often more affluent shoppers," said Phil Seward, Regional Director, Americas at ICLP. "However, Boomers are also shifting more of their shopping online, and they're using many of those same rewards apps. Our research highlights that Boomers feel undervalued and overlooked, so it's important that retailers give this extremely important customer base what they want and need - a personalized customer experience that is responsive and communicative. The more retailers leverage data-driven insights to ensure their marketing strategy creates meaningful connections with Boomers, the more emotionally connected they will feel towards your brand, turning this valuable age group into repeat, loyal customers."

Here are three tips from ICLP to begin building better loyalty:

• More than 80% of Boomers don't expect relevance in branded recommendations - so surprise them by making recommendations more relevant to Boomer interests and needs, rather than generalizing
• Fewer than 40% of Boomers expect retailers to value them - so surprise them by treating them as an individual by personalizing emails and other branded contact. Again, relevance is the key
• Only 12% of Boomers feels brands recognize them - so train employees to better understand what the demographic wants. Training employees how to remember the names of frequent customers could also be a help

Tags: advertising, baby boomers, ecommerce, ICLP, loyalty marketing, loyalty marketing trends

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