More of the Older Generations are Using Facebook
How this will effect business marketing
We've all heard it before, "Facebook is for older people". There has been a significant increase in the percentage of the older generations who are using Facebook within the last few years, especially with those age 55 and older. Are they just using Facebook and what does these mean for businesses?
How many are using Social Media?
According to the Pew Research Center, the percentage of adults born in the Silent Generation (1945 and earlier) who use Facebook jumped from 26% to 37% between 2018 and 2019. While the Boomer Generation (Born 1946-1964) increased from 50% to 60% between 2015 and 2019. Pew Research Center also found that 70% of adults ages 50-64 and 38% of adults over the age of 65 use YouTube.
How should we focus on the older generation?
Carmen Yeung, a marketing associate at Synthesio, explains from her findings that it is important for marketers and businesses to think about targeting older adults for a few reasons. She explains that according to the World Health Organization, that there will be more than 2 billion adults over the age of 60 worldwide by 2050. She says that not only will they make up nearly a fifth of the population, but they also hold great power for spending. Carmen notes:
"Oxford Economics has found that, in the US alone, adults over the age of 50 contribute $7.6 trillion to domestic spending annually. Between 2015 and 2030, Americans over the age of 60 are expected to contribute over 40% to national spending on housing, transportation, entertainment, food, and alcohol."
For businesses looking to advertise their products and services on social media, they are going to want to be able to market to those who have the money and are spending it!
How do we market to this audience?
So, how do businesses target these older social media users? Carmen gives an example in her article of a fashion house company that is successful in their attempt to do this very thing. In this case, the fashion house Helmut Lang decided to reach out to older women by incorporating a friendly, realistic, photo of a 66-year old woman from Wales wearing one of their fashion pieces.
Carmen concludes that, "At the end of the day, businesses and governments alike are aiming to communicate their message while minimizing the marketing dollars spent. That's why it's crucial to start by understanding the habits of who they're reaching." When the older generations are the ones with the money and the numbers, it is going to be in just about any business's interest to keep tabs on what Social Media platforms they are using and what strategies will be successful to reach them.
Sources:
"Since 2012, Use of Facebook Has Grown Fastest among Older Generations." Pew Research Center, 6 Sept. 2019, https://www.pewresearch.org/fact-tank/2019/09/09/us-generations-technology-use/ft_19-09-03_digitaldividegenerations_2/.
"Use of Different Online Platforms by Demographic Groups." Pew Research Center, 9 Apr. 2019, https://www.pewresearch.org/fact-tank/2019/04/10/share-of-u-s-adults-using-social-media-including-facebook-is-mostly-unchanged-since-2018/ft_19-04-10_socialmedia2019_useofdifferent/.
Yeung, Carmen. "Social Media Usage Statistics By Age: Marketing to Adults Aged 50." Synthesio, 29 Aug. 2019, https://www.synthesio.com/blog/social-media-usage-statistics-by-age/.