Daily Real Estate News  |  April 30, 2007  |   Don't Underestimate Power of Over-40 Set
Not only do high numbers of the over-40 set go online for information, but they're also one of the most active groups in the word-of-mouth marketplace, says a recent study conducted by ThirdAge Inc. and marketers JWT Boom.

“Thirdagers — baby boomers and mid-lifers generally in their early 40’s through mid 60’s — are regularly stereotyped as being technophobes and slow to jump on the technology bandwagon,” says Sharon Whiteley CEO of ThirdAge.

“However our study shows that they’re surprisingly a formidable presence on the Internet.” Compared with the national average across all age groups, significantly more of those in the 40-plus age group, over 72 percent, access the Internet from broadband in their homes.”

Watching videos, writing blogs, and downloading music don’t rank as priority pursuits, but 92 percent spend time on the Web seeking information, 86 percent research products before purchasing offline, and 91 percent read articles online. A large number, 79 percent, say they respond to promotional e-mail about products.

Not Likely to Keep It to Themselves

Additionally, significant numbers are likely to follow up print or television advertising with Web research.

• 92 percent visited a Web site after reading about it in a magazine or newspaper article
• 89 percent visited a site after seeing a print ad
• 83 percent visited a site following a television ad
• 65 percent will visit a site after hearing about it in a radio commercial

Noting that “many marketers do an ineffective job of building a trusted relationship with people who are over 40,” Whiteley says, “the conventional wisdom that boomers and mid-lifers are set in their purchasing habits and resistant to marketing messages is a very costly myth. These generations have grown up in the information age; they will seek facts, data, and peer input — and then, they will make up their own minds.”

Once this demographic discovers something new, they aren’t likely to keep it to themselves.

• 96 percent share such information and details with their family.
• 84 percent with their children.
• 83 percent with their spouses.
• 71 percent among coworkers.

— By Camilla McLaughlin for REALTOR Magazine Online