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Retiring Baby Boomers are a huge demographic that is only
going to get bigger over time, eventually growing to about
78 million. The majority are facing retirement (or job loss)
with less than adequate savings. Consequently, they are very
interested in starting a home business, and this presents a
major opportunity for Internet marketing services and
consultants.
Boomers are comfortable with the Internet. They do online
shopping and regularly utilize search engines. The majority
are acquainted with social network sites like Facebook,
LinkedIn and YouTube. They may use text messaging, but
probably do not Tweet.
Baby Boomers do not need to be sold on the idea of starting
an Internet business. They comprehend the merits of having a
24/7 worldwide audience for products and services. They may
not understand how Websites are created, but they believe
having an Internet-based business can replace or supplement
their income. And they like the thought of working out of a
home office with a flexible schedule that allows them to
enjoy outside activities.
The key to success with retiring Boomers is to recognize
that their Internet skill levels create distinct markets,
each with different requirements:
• Some Boomers are knowledgeable about Internet marketing.
These prospective clients may be looking for technical
assistance to launch a Website, blog, or just help in
refining their marketing strategy. This group presents an
excellent opportunity for Internet marketing consultants who
are technically inclined or have access to technical
resources.
• A larger group of retiring Baby Boomers consists of those
who want to leverage their career experience to create an
online business. They are not concerned about the nuts and
bolts underlying the Internet; they just want to focus on
the business aspects. To them, the Internet’s main purpose
is to generate sales leads. These Boomers represent an
opportunity for both Internet marketing consulting and
ongoing outsourced marketing.
• The majority of Boomers are looking for “canned” online
businesses to supplement their retirement income. Turnkey
solutions are attractive to this group. This group presents
a huge opportunity for ethical marketing and business
consultants, Internet business critics who evaluate
opportunities, and those who have – or can develop -
profitable “rubber stamp” businesses for licensing to eager
Boomers. Credibility is a major sales issue - valid success
stories and testimonials are essential to overcoming
skepticism. And remember that these Boomers require
hand-holding to get up and running. So, be certain that the
Internet aspects of the business are “idiot proof” and
minimize support requirements by including lots of online
tutorials.
A tsunami of retiring Baby Boomers is on the horizon. Most
will not have the financial resources to fully retire and
are searching for supplemental income. Of these, the
majority will pursue Internet businesses. Thus, the demand
for consulting assistance and turnkey businesses will
explode. Understanding their needs and formulating answers
accordingly is necessary for Internet consultants to
successfully address this growing market.
There is concern among retiring Boomers that their Internet
marketing ignorance will lead them into “get rich quick”
schemes which drain their financial resources. Maintaining
high ethical standards and delivering real value is
therefore critical, as it is easy for Internet marketing
consultants and services to burn their reputation among
Boomers. A focus on “win-win” solutions with obvious payoffs
is required to win clients. For those who adapt their
services to the characteristics of this emerging Boomer
market, however, the outlook is bright indeed.
About The Author
Al Kernek is a Internet marketing consultant, author and Baby Boomer. Learn more about issues facing Baby Boomers seeking to retire on a
limited or fixed income at www.BabyBoomerLifeboat.com which is also an online portal to Websites containing valuable information and resources for Baby Boomers. |
