For many years, marketers considered age 25-49 the “buying and acquiring” years in the normal lifecycle. But times have changed.
Today Americans are working longer, living longer and enjoying life longer. Baby Boomers are breaking all stereotypes for life after 50. Adults over 50 years old control over 70% of our nation’s wealth.
New Orleans is no exception to this trend. We took a deep dive into new research from Marshall Marketing to learn more about Adults 50+ in the New Orleans area.
In the last 12 months, South Louisiana has had it's share of major weather related events. The 2016 Louisiana floods caused damage to more than 109,000 homes and 6,000 businesses throughout South Louisiana. Just last month 6 tornadoes caused damage to over 800 homes. These events create major needs for home related services as people rebuild.
As massive as these disasters were, the vast majority of the South Louisiana homes were not impacted. While a majority of homeowners will not have the same critical needs, plenty do have plans to improve their homes in 2017.
Looking around downtown New Orleans you realize that much of the area looks completely different than it did even just a few years ago.
Since 2012, two new streetcar lines have opened on Loyola Avenue and Rampart Street. The vast area of street level parking lots near the Mercedes-Benz Superdome have been reborn into the South Market District with residential units, retail stores and restaurants.
New hotels and restaurants are popping up all around the area. New major retailers seeing the transformation have entered the New Orleans market for the first time. And two major new hospitals have transformed an entire corridor along Canal Street.
New Orleans has been named one of the "World's Best Cities" by Travel + Leisure (July 2016).
Who is your target audience?
When we work with local businesses to help them plan their marketing, we often start our conversation with a lot of questions that help us understand their overall business goals and marketing needs. One of the questions we eventually ask is “Who is your target audience?” We ask that question to better understand how to provide targeted advertising including demographic targeting, behavioral targeting, geo-targeting advertising. Ad targeting allows us to refine your marketing to the audiences most likely to be or become your customers.
With so many new platforms and channels available, industry professionals need to establish new benchmarks to assist in planning for business growth and to better understand the expected return on investment from marketing campaigns. The Advertising Research Foundation recently released some important new research to help businesses make better marketing decisions.