Welcome to the second installment of this series, where we’ll be taking a look at the second-half of the six disruptive demographics Dr. James Johnson says will change North Carolina forever. Johnson, a professor at the UNC Kenan-Flager School of Business, discussed how these demographics will change our state during the North Carolina Chamber of Commerce’s second-annual Workplace Diversity and Inclusion Conference.
If you missed the first blog post, where we discussed the first three demographics, you can read it here. Once you’re all caught up, join us as we dive into the remaining three demographics and what it means for communicators moving forward.
4 The Graying of America
The Baby Boomer generation, the largest living generation, is about to retire, bringing with them a demand for retirement-based activities. That means more people will be dependent on social security and flocking to amenity-heavy communities like the coast or the mountains. It also means that this community will care more about issues that traditionally matter to those of retirement age; for example, social security and crime rates.
What does this mean for communicators? It means we should be prepared to see an increase in the percentage of communications and advertisement geared toward the retirement population. It also means we’ll see a shift in issues that will get attention because of the sheer size and influence of this demographic.
5 A Female Future
We already know that women make 80 percent of the purchasing decisions in a household, which make them a strong target for advertisers. But with 60 percent of college graduates being women, we’re starting to see more women with higher-paying jobs and more women acting as the breadwinners of their household.
What does this mean for us? It means if we were targeting women before, we really better be targeting them now. Not only could they continue to be the largest decision makers in the household when it comes to purchasing decisions, but they’ll be the ones bringing home the bacon, too.
6 Cooling Water from Grandma’s Well…and Grandpa’s Too!
More children in the U.S. are now being raised by their grandparents. There are various reasons why parents aren’t able to raise their own children, but as communicators, we see this as a potential shift in the way we’re targeting parents.
Those age parameters you’re setting from 30 to 55 when you’re creating a Facebook ad targeted toward parents? Throw them out the window. As this trend continues, you can never assume a parent’s age.
So, what does all of this really mean for us and our clients? When it comes down to it, paying attention to these demographics and the way they’re changing our state will only help us become more competitive. By getting ahead of the curve and targeting advertisements toward more diverse and inclusive audiences, we can expand client market shares and ultimately, revenue.