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Baby Boomer Bust? A question and a book by branding expert Roger Chiocchi Retirement Doesn't Have to Kill Your Bank Account The Fountain of Reinvention CLEARWATER, Fla. I’D never been to a boomer conference and figured it was time to try one. So, recently I joined 250 mainly boomer-age business people who had paid $195 each for a day’s worth of speeches, seminars and networking opportunities here at the second annual Florida Boomer Lifestyle Conference. It was hard at first to tell from the list of speakers and sponsors whether this was the best of times for boomers (Shirley Mitchell, author of “Fabulous After 50” and “Sensational After 60”); the worst of times (Roger Chiocchi, author of “Baby Boomer Bust? How the Generation of Promise Became the Generation of Panic”); or the end of times (Suncoast Hospice, a major conference sponsor). If there was a buzzword, it was “reinvention.” The morning keynote speaker was Brent Green, the author of “Generation Reinvention.” The speaker at seminar 2B, “Reinventing Your Business, Reinventing Yourself,” was introduced as the “reinvention guru Karen Post.” The conference was opened by Colleen Chappell, a marketing executive who praised boomers for “truly reinventing everything,” including “redefining reinvention.” But it was a presentation by Lorin Drake, a market researcher, that made clear why so many attendees needed to be reinvented: 39 percent of boomer households in Florida had someone who’d lost a job in the last five years; 34 percent had experienced a hospitalization; 15 percent had a mortgage that was larger than the value of their home. The good news, said Mr. Drake of Schwartz Consulting Partners, is that 74 percent of boomers plan to stay in Florida. The bad news is there is not much choice because of the dead real estate market. More bad news, he said, was that a quarter of Florida boomers are now living with a parent or an adult child, or both. “What’s it result in?” he said. “A boomer mom who says, ‘I didn’t sign up for this.’ ” The good news for savvy marketers? “If we win over the boomer mom, we win over the adult kids and parents who live with her,” he said. “We can scoop up all three at once.” That was why Mary Maloney, 41, a marketing specialist in the technology sector who has been downsized twice in this recession, was in attendance, and she took note. “I mean, there are 78 million boomers — it’s good to know,” she said. Darlene Jalowsky, 62, a former geriatric-care manager, agreed. “I’m here to learn how to make money off boomers,” she said. Mr. Drake had one last bit of research to share before concluding. His surveys indicate that a significant number of boomers don’t like the term. When addressing one, he suggested saying “your age group” instead. Although the attendees were dressed in business attire and had worked in corporate America for decades, you could still hear an occasional echo of the ’60s. One speaker, A. D. Frazier, the former chief executive of the Chicago Stock Exchange who now has his own business that provides back office services to small companies, urged those who were laid off to start a business. “Don’t go back to work for The Man,” he said. Pat Deering, 59, did not. A longtime human resources director for a real estate company, she told the conference, “I’d sent a lot of individuals home because positions were eliminated” — and then she, too, was fired. Instead of re-upping with The Man, she bought the Tampa-area FranNet franchise — which finds franchises for people to buy. “Stand up, Paul Lallanilla,” she said. “He’s taken control of his life.” The audience applauded for Mr. Lallanilla, who’d spent $100,000 to buy a Right at Home home-care franchise with Ms. Deering’s help. “Ron, would you like to stand up?” Ms. Deering said, and they applauded for Ron McCaslin, 63, who had opened a Speedpro Imaging printing franchise. Mr. McCaslin had been president of Jim Walter Homes, overseeing 2,000 employees until the recession. The company’s construction business closed, and he was let go. He paid $350,000, half of his retirement savings, for the Speedpro franchise. “I’ve put it all on the line,” he said. “I won’t ever retire.” Laurie Orlov, 59, the founder of Aging in Place Technology Watch, told the group how she had parlayed several trends affecting older people into a successful business with clients that include AARP and Philips Global. With the real estate collapse, she realized that more elderly people would not be able to sell their homes or afford assisted living (projected to cost $51,000 a year in Florida by 2015); that they would need more monitoring at home; and that they had techno-savvy adult children willing to spend on products like health alarms and movement sensors. She described a new, computer-linked pill dispenser that lights up when it’s time to take medication and calls you if you’ve forgotten — and if you don’t answer the phone, it can call your children. The problem, she said, is that the technology companies don’t know how to sell it. “This is a kind of sad market right now,” she said. She believes the way to go is bundling such devices — pill dispensers, neck alarms, movement sensors, GPS devices — into a package of services that families could subscribe to for a monthly fee of perhaps $50. Ms. Orlov described how her background — being a chief technology officer for two companies, a market researcher in the late 90’s when e-commerce was beginning and a caretaker for her mother, who had Alzheimer’s — helped her to see what others hadn’t. In the afternoon at reinvention seminar 2B, Ms. Post displayed a line graph of her life that looked like a roller coaster. She explained that she had become a reinvention guru the hard way, by having two businesses fail, including a dot-com start-up that she’d raised $1 million for in 2001 and that went bust nine months later. “You feel like you want to die, but we baby boomers are so strong,” she said. She said that her current business, as an inspirational speaker and coach on rebranding and reinvention, is “all on the upswing.” Each time she’s started over, people she thought were friends discouraged her. “I had to shed friends and associates,” Ms. Post said. “Sometimes you have to kick friends to the curb.” Other advice: “You cannot believe what your own mind tells you. My life was saying big loser. Separate truth from trash in your head.” “It’s never too late to come up with an idea and reinvent yourself.” “You need to step up and stand out.” During questions, David Valladarez, an architect, asked, “This is all great, but how do you use it to get work?” Ms. Post said, “Your services need to be sliced and diced and repackaged.” She suggested that — with so many boomers now having parents and adult children moving in, and with elderly people staying in their homes longer — Mr. Valladarez, as an architect, might be able to capitalize on the need to redesign and adapt those homes. She called it “spicing new spices on your business.” Later, I asked Mr. Valladarez, who’s been an architect 25 years, how bad business was. “Dead for lack of a better term,” he said. “The floor’s been pulled out. No real projects.” Asked if the conference was worthwhile, he said: “Oh, yes. This boomer thing, multi-generational housing, people aging in place — I’m thinking about it. “It could be the first time in my career I’m out front of the curve,” he said. “It’s just so hard to know.” And then he hurried off to hear the closing speaker, Mary Furlong, the author of “Silver to Gold: How to Profit in the Baby Boomer Marketplace.” ### New Book Tackles Boomers' Dilemma Richard Lee Apr. 20, 2010 (McClatchy-Tribune Regional News delivered by Newstex) -- Roger Chiocchi doesn't hold back in his book, "Baby Boomer Bust," a treatise on the dilemma facing Americans whose retirement dreams have been turned into nightmares by the global financial crash. Chiocchi, a partner in Brandloft, a South Norwalk branding and marketing firm, has distributed the blame among two former presidents, Bill Clinton and George W. Bush, former U.S. Rep. Phil Gramm, the investment banking industry, mortgage companies and yes, the baby boomers who couldn't resist the fusillade of low-finance temptations on purchases including houses and cars. "Eventually, they begin to think they need all these things," writes Chiocchi, 55, one of those baby boomers, who have been affected by the financial crisis. Chiocchi used some of the same research strategies in writing the book that he uses in his work, including talking with nine individuals who are scrambling to gather themselves after the crash. When the Dow Jones Industrial Average plummeted to 6,547.05 at its close March 9, 2009, Chiocchi, like many other baby boomers, decided it was time to look at his 401(k) retirement savings. He was devastated, and realized there were millions like him who faced the same dilemma. "We started with an online survey of 150 people. I consider it one big focus group. The nine individuals I interviewed, their stories were extraordinary," said Chiocchi, who learned that most will have to work longer or find alternative income. "The crash was just a punctuation mark. Some of it is self-inflicted wounds." For those who have lost their jobs, it's an opportunity to find new careers, perhaps something they've always wanted to do, said Chiocchi, a Norwalk resident who recently addressed the second annual Florida Boomer Lifestyle Conference, produced by Common Language and ChappellRoberts. "The economic crash and recession has engendered a mass wake-up call among boomers nationwide: If they expect to live well into old age, they'd better learn how to gain control over their careers, finances and health, and find what gives their lives meaning and purpose," Michelle Bauer, chief strategist of Common Language and co-producer of the conference, said in a statement. Baby boomers will have to become more inventive, Chiocchi said. "We're a creative, resilient bunch. I think the realization is out there that we have to do things differently. What can I do, and how can I monetize that?" said Chiocchi, who suggested that a self-examination into how the U.S. economy operates may be necessary. "Maybe unfettered capitalism makes people rich, but it leaves a lot of people in its wake. One percent of the population controls 42 percent of the wealth. Should a teacher make $50,000 and a bond trader make $3 million?" Millions will have to work longer to compensate for their losses, but many will not have that option because their employers have other ideas, said Nick Perna, head of Perna Associates, an economics consulting firm in Ridgefield. "If you're still employed, now's the time to start your planning," he said, adding that many have to redefine their lifestyles. "This (crash) has devastated people's lives. Many baby boomers have their wealth in home equity, and that's a bit smaller. We're very unlikely to have a huge run-up in housing prices." Assessing blame for the crash is a convoluted task because of all the players and events, according to Perna. "The meltdown is very complex. We're finding out more and more about it, including the role Goldman Sachs (NYSE:GS) played," he said. "It's essential for people in Washington to determine what caused it." ### Tampa Bay Firms Present Research on Florida Baby Boomers "(Re) Introducing Florida’s Boomers: A Fresh and Surprising Look at the Consumers We Thought We Knew" is a collaboration of Schwartz Consulting Services, Common Language and ChappellRoberts. The study was presented at Thursday’s 2010 Florida Boomer Lifestyle Conference, produced by Common Language and ChappellRoberts. Baby boomers — the 78 million people born between 1946 and 1964 — are key to Florida’s economic future, the study says. They are expected to make up more than 30 percent of the state’s population by 2015. The study also says:
Schwartz, a market research firm based in Tampa, conducted a statistically valid survey of 444 Florida boomers in all regions of the state. The survey covered their purchasing habits, consumer behavior and influence; their life outlook; their thoughts on health and wellness; and their receptivity to marketing messages. “Survey results show that Florida boomer priorities are family, health and personal finances,” said Michelle Bauer, chief strategist at public relations firm Common Language in St. Petersburg, said in a release. When it comes to marketing to Florida boomers, Lorin Drake, vice president of consulting services at Schwartz, said a one-size-fits-all strategy is unwise. "Contrary to conventional wisdom, not all boomers wish they were still at Woodstock or listen to Beatles albums on vinyl," he said. “Just like with any other marketing initiative, the importance of market segmentation applies to the boomer audience." The study also explored what marketing messages resonate most with Florida boomers. “We all remember advertising that targeted an older market segment by using celebrity endorsements and appealed to the good-old days,” said Colleen Chappell, president and CEO of ChappellRoberts, an advertising agency in Tampa. “Florida Boomers reject those techniques,” Chappell said. “Rather, they value businesses that operate and market with integrity, messages that give them a positive feeling, and products that are innovative and offer solutions.” As part of its participation at the conference, Schwartz is planning to launch a national Boomer Omnibus Study. ### For boomers, back to basics Florida baby boomers, all 4.7 million of them, go under the microscope again once today in a daylong conference dissecting their financial fears, job frustrations, retirement opportunities and lifestyle options. The annual conference, this one held at Clearwater's Ruth Eckerd Hall, is Florida's second. It's dedicated to better understanding Florida's next wave of active retirees, and how new business opportunities may cater to their changing needs as they reinvent themselves in the last third of their lives. This year's conference comes with fresh survey insights about what makes boomers — that includes me, smack dab in the middle of the generation, ages 45 to 64 — tick. Those survey results will be outlined in a morning session by Lorin Drake, vice president at the Schwartz Consulting Partners, a Tampa market research firm. But Drake, along with conference organizers and marketing entrepreneurs Michelle Bauer of Common Language in St. Petersburg and Colleen Chappell of ChappellRoberts in Ybor City, stopped by the Times this week with an early peek at the numbers. In the past five years, which includes all of the latest recession, nearly four in 10 Florida households led by baby boomers have had someone lose a job. Over the same period, a third of boomer households have had someone stay in a hospital. And nearly one in six boomer households has had a home whose market value has dipped below its mortgage. (That last one is pretty good given how many Florida homeowners overall are underwater.) The poll of 444 Florida boomers also finds that just under half agree or strongly agree that they plan to work through retirement. Only 44 percent agree or strongly agree that "Florida will bounce back" — presumably from the statewide 12.2 percent and Tampa Bay's 13.1 percent unemployment rates, and from a battered housing market still in search of a solid bottom. Overall, 48 percent of boomers surveyed report either "fair" or "poor" personal finances thanks to a job loss or taking a job that pays less, a severe stock market hit to 401(k) retirement plans or, most likely, a combination of these events. On the brighter side, the survey finds that 74 percent of boomers say they plan to stay in Florida over the next 10 years. "That seems to be the big takeaway," Drake says. "Many boomers here have taken a big hit, but they still love Florida." You have to wonder if more than a few boomers are staying right where they are, not only out of love but because they can't sell their homes at a decent price. The survey also notes some buying habits, with 72 percent of Florida boomers buying vitamins, but just 11 percent going to a gym. One conference speaker today is Roger Chiocchi, whose book Baby Boomer Bust: How the Generation of Promise Became the Generation of Panic explores how so many boomers are financially unprepared to retire. He includes an entire chapter dedicated to the virtues of declaring bankruptcy. Another finding touches on the trend of boomers becoming "innkeepers" in their own homes. The survey shows 18 percent of Florida boomers say that they have an "adult child" and 6 percent a "parent or in-law" living in the same household. That, Bauer and Chappell point out, is one good example of many emerging opportunities for businesses to cater to such boomers with services ranging from food preparation and house cleaning to affordable hotels (for boomer mom to get away for a day or two) and continuing-education colleges. Looks like boomers are going to need a lot of help. Robert "Boomer" Trigaux can be reached at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . ### Boomers in the new world Some picked-up pieces: *** Mick Constantinou: “It isn’t a service contract anymore. It’s a service contract. As opposed to having one job, you’re going to have a lot of gigs.” *** Joe DiMaio: “You don’t have hours. You start when you wake up and you end when you go to sleep.” *** Some stats from A.D. Frazier’s presentation: “Four percent of workers under 30 are self-employed. Fifteen percent of workers 50 to 64 are self-employed. Twenty-five percent of workers over 65 are self-employed.” *** Everybody agreed: Get on Facebook, Twitter, or LinkedIn, and preferably all of them. Said Peter Kageyama: “For those of you who are not on Facebook or Twitter, ask your kids or your grandkids.” If you’re not on at least one? Said Frazier: “It says mossback. It says troglodyte.” Personally, if nothing else, I appreciated very much the usage of the choice words “mossback” and “troglodyte.” *** A super fun word Donna Gordon of Donna Gordon Gallery and Studio in St. Pete has invented to describe being a “second-career” entrepreneur out on your own: “exterrified.” It means, she said, a combination of excited and terrified. Anyway, this is an oversimplification, but I sat there thinking that what it’s come down to is this: YOU’RE ON YOUR OWN. Out: Organization Man. In: Me LLC. Plenty of opportunity, if you’re mobile, dynamic and fit -- but also more than a little unsettling, no? The death of WE’RE IN THIS TOGETHER? Or am I just all angsty and misreading? ### Boomers, barriers, and myths Assumptions, aspirations, and realism. In recent here-there-everywhere travels, I was often intrigued by assumptions that were cited as fact. I heard about barriers to adoption, narrow-cast definitions of broader opportunities, and sweeping generalizations about markets too broad to characterize. That last, of course, is the so-called baby boomer market -- discussed all day at a well-run event in Tampa -- the Florida Boomer Lifestyle Conference. Talks were packed with baby boomer market possibility. But boomers are no more a market with meaningful shared characteristics than adults, women, or workers. You know this when you hear a discussion of an age segment in which the target market year begins with 40 or the upper end extends beyond 64. Or when the speaker apologizes and says "I'm not a baby boomer, but..." Enough boomer demographic data to confound any marketer. In keeping with the theory that boomers are a market, the conference presenters generally began their talks (as all, including yours truly, do) with stats to help make their case -- baby boomers are wealthier, tech-savvy, own iPhones, are entrepreneurial, self re-inventing, chronic-disease plagued, interested in franchising, traveling, dating, volunteering, etc. It was a fascinating day, inspiration for attendees to learn more, start and run new businesses. My favorite segment was a presentation by 23-year old Alex Chamberland about Tampa Bay's EasyLiving, the home care agency founded by his mother that he manages -- since he was 21! -- hiring the workers, finding referral channels, implementing tech tools, upgrading the website. And check this out: EasyLiving also provides a concierge service that includes taking seniors to concerts, out to dinner, or shopping. Come to think of it, isn't this something that all home care agency franchises should offer? In tough times, boomers create their own opportunity. In other recent and related news, you may have noticed this intriguing observation from the Kaufman Foundation: more than 80% of all tech startups in 2008 were by people over 40, that the number of people age 55-64 starting tech businesses grew 36% in 2008, and that the 20-34 age bracket had the lowest startup rate. And most entrepreneurs that I speak with tell me that they are not venture capital backed -- a good thing if they are woman-owned -- see today's NY Times on the dearth of Silicon Valley investment in women-run businesses. The more common practice: take an idea, bootstrap it yourself, augment with angel investors to grow quickly or (my favorite) grow it slowly, gaining market insights and forging partnerships along the way. ### Florida Boomer Lifestyle Conference: Inspiring! Some of the other highlights: Laurie Orlov's trend report on aging in place technologies. I hope her visions for where we can be come to fruition at the fast pace that technology in general is moving. Check out Laurie's great Aging in Place Technology Watch blog. Lots of good presentations re: technology including Bernie Borges (Find and Convert) and Jody Haneke (Haneke Design)'s great discussion re: social media and mobile apps. I had no idea almost 1/2 the U.S. population is on Facebook! And, for a social media, viral marketing success story...who hasn't seen "Will it Blend?"--if you haven't and your an iphone or ipad fan, you may want to think twice about watching:-) We had great audience interaction at our session about multigenerational family trends. It was an honor to be on the panel with Alex Chamberlain, Executive Director of Easy Living and Jack Levine, Founder of 4Generations Institute. We could have talked for hours about all the trends and needs of family caregivers and the multigenerational (many with 4 generations now!) family. Aging Wisely and Easy Living plan to continue striving to meet those needs and finding ways to innovate. With individuals like Linda Chamberlain, Jack Levine and Sallie Parks advocating for elders and the families who care for them, we're sure to see positive strides. Check out the conference webpage for all the great speakers, sponsors, and press releases: http://www.floridaboomerlifestyle.com/. ### Florida Boomer Lifestyle Conference to Focus on Reinvention The conference, planned for April 15 at Clearwater’s Ruth Eckerd Hall, will explore how baby boomers are reinventing their lives personally, professionally, physically and spiritually, and the implications for companies marketing to them, a release said. Presentations and panel discussions will include companies specializing in anti-aging medicine, healthy and sustainable living, lifelong learning and care giving. Boomers, the population of 78 million born between 1946 and 1964, are expected to comprise more than 30 percent of Florida’s population by 2015, the release said. The conference is designed to give marketers insight into boomer behavior to address the needs of the market, said Michelle Bauer, chief strategist of Common Language, the St. Petersburg communications firm producing the event along with Tampa marketing, branding and PR firm ChappellRoberts. Registration will begin Nov. 30. Tickets are $195 through Jan. 30, $245 after Feb. 1, and $295 after March 31. ### Media Coverage from 2009: Author Gail Sheehy's new stage TAMPA Gail Sheehy had a confession to make. When she wrote Passages three decades ago, her bestselling exploration of the stages of adult life, the descriptions stopped at 50. "I thought at that point, 'What happens after 50?' " she said. Turns out, it's a lot. "We go through more passages and predictable crises between 50 and 75 than at any other stages of our lives," she said. Sheehy, 71, was the keynote speaker at the inaugural Florida Boomer Lifestyle Conference held at the Tampa Convention Center earlier this month. Hosted by CreativeTampaBay, the conference pulled together a variety of speakers who shared ideas and insights on how to tap into the boomer market — nearly 80 million strong and considered the biggest, most well-educated and wealthiest generation in history. Sheehy predicted boomers will redefine the aging process — along with the market for new goods and services — as they live longer, hold down varied and meaningful careers, and maintain greater health than their parents. Women who live to 50 with no serious diseases may well live to be 92, Sheehy said, but added: "Whoever prepared us for the possibility we might live long enough to forget the name of our first husband?" She predicted the saucy silver generation will revolutionize work patterns as they embrace a "gig economy." "Everybody I know has two or three gigs, not just one employer, because you never know when they're going to slough you off or go out of business." But a lousy economy is not the only thing standing in the way of complete happiness for boomers. They make up a huge portion of the "sandwich generation" — those with both dependent children and frail, aging parents. One day, Sheehy said, they may receive a life-changing phone call: Their loved one has fallen, has dementia or a life-threatening or chronic illness. Suddenly, they become caregivers. "It's a job nobody applies for," she said. In her case, her 15-year journey as a caretaker began with a call from her husband's oncologist and the words: "It's not benign." "It propels you into a whirlpool of denial, fear and confusion," she said. "You're being drafted into something you really know nothing about. You're Googling disease sites which can really traumatize you, tracking down different doctors, listening to conflicting advice from friends." The caregiver's world becomes a series of revolving doors in and out of hospitals, doctors' offices, nursing homes, rehab centers and home again, she said. Now Sheehy wants to be a voice of caregivers nationwide. She's writing her 16th book, this one about caregiving — a task held by 44 million Americans. And, with the title of Caregiving Ambassador for AARP, she is helping others navigate each curve by sharing stories she has gathered from people across the nation at www.aarp.org/gailsheehy. Sheehy described the average caregiver as a 46-year-old woman who is holding a paying job and spending at least 20 hours a week taking care of a loved one. "It's often at the expense of her teenage children, her exasperated mate and her friends who gradually stop calling — certainly it's to (the detriment of) her own health and social life," she said. More than half of American caregivers hold full-time jobs, she said. And, they maintain their role as caregiver an average of 4 ½ years, sometimes forfeiting their careers, emotional well-being and financial security along the way. Sheehy advocated for more and better home care, improved services and technology, and a revamping of the broken health care system. She recalled New Year's Day 2007 after she and her husband waited more than eight hours in the emergency room for a medical scan. "He said, 'Let's go,' and with the needles still in his arms, I just put a little blanket over him and wheeled him right out of hospital," she said. "It was our last trip though the revolving door." ### Baby boomer event attracts Gail Sheehy, range of decision makersTampa Bay Business Journal The inaugural Florida Boomer Conference examined ways that businesses can engage members of the baby boom generation. Boomers will comprise more than 27 percent of the state’s population by 2010 and more than 30 percent by 2015, a release said. Presented by CreativeTampaBay and sponsored by Blue Cross and Blue Shield of Florida, the conference began Monday evening at the Tampa Convention Center and continued Tuesday with a series of individual presentations and panel discussions. A session moderated by Tampa Bay Business Journal publisher Bridgette Mill focused on messages and strategies that speak to the boomer woman who may be going through pivotal events like beginning motherhood after 40 or reinventing a career. Dana Wood, senior fashion features editor for W Magazine, Carol Orsborn, a senior strategist with Vibrant Nation, and Jane Glenn Haas, founder of WomanSage, served as panelists in the discussion. At the core of the conference are the topics of care giving, health and wellness, finding meaning and purpose, and financing longevity, or maintaining a standard of living into retirement. Other conference participants included author Gail Sheehy, Ringling College of Art + Design President Larry Thompson, former U.S. Commissioner of Social Security Dorcas Hardy, and Matt Thornhill and John W. Martin, co-founders of The Boomer Project and co-authors of business book “The Boomer Consumer.” The conference concluded with a closing reception and expo Tuesday evening. ### For entrepreneurs, boomer market is plentiful Wake up and good morning. Baby boomers, that affluent bulge in the population from the latter 40s to early 60s in age, were front and center at an all-day Florida Boomer Lifestyle conference held Tuesday at Tampa's convention center. It was eclectic, to say the least, and certainly walking that fine line between offering concrete ideas for new businesses aimed at boomers and touching on new age marketing for a huge percentage of the adult population that refuses to go quietly into the traditional world of seniors. Part of the message of the day, I guess, is that trying to categorize and reach 76 million boomers is tricky but it can be done. It's a message reinforced in this piece from Entrepreneur magazine and written by Matt Thornhill, president of the Boomer Project and a speaker here on Tuesday. One of the many trends noted at Tuesday's conference is the renewed effort by educational providers to cater more specifically to boomers. Dr. Larry Thompson, president of the Ringling College of Art and Design in Sarasota and a big fan of the "creative economy," said his school had taken over the Longboat Key Center for the Arts as well as one in Englewood (both were struggling). Ringling will use those properties to offer more art classes to the 50-plus markets and generate more revenue for the school. At Hillsborough Community College, a Boomer Institute is evolving as part of the college's continuing education services. Dr. Kathleen Moore, who helps run USF's "E-Campus," said schools must become more creative in serving boomers. These are not people willing to go spend four years getting a BA degree, she said. Classrooms, she added, often have four generations of students in them. Frankly, one of my favorite moments of the day was later in the afternoon when about a dozen diverse boomers took the stage for a live focus group on boomer attitudes and preferences. A common theme? Boomers have largely been smacked hard on the side of the head by big losses in the stock market, by sharp upticks in unemployment and the inability to find new work as "older" job candidates, and shunned by a health insurance market that makes it too expensive for coverage or is too quick to deny access to older consumers. So, a trio of needs being poorly served... equals business opportunities. One strong sentiment expressed by the focus group was a distaste for advertising that insulted consumer intelligence or "told' people what they should be buying. In one exercise, moderator Keith Winn of the Nielsen Co. asked the group to pick a consumer brand that they are loyal to, that speaks to them. One person said "price" was her brand, meaning she look first at price and value and ignores brand. But most people offered one name. Here's what they volunteered: * Southwest Airlines. * Publix Super Markets (at least those heart-tugging holiday ads hit home). * St. Petersburg Times (hey, they said it, not me). * Apple. * Coach leather goods (this prompted some laughter and applause). * Progressive Insurance ("They're the only one that will insure me," said one participant). * Starbucks (The participant does not buy the coffee but he's impressed with the brand). * Pepsi (at least compared to Coke). * NPR and PBS. This conference was spawned by a market differentiation study conducted in 2007 by CreativeTampaBay. The research, known as the “Things Look Different Here” study, revealed that Tampa Bay will be the country’s top destination for retiring Baby Boomers over the next 15 years. Thus, it is the likely incubator for new ideas on the concept of “retirement.” Can't argue with plenty of boomers headed this way, but it's less clear that Tampa Bay will be one of the mega-meccas. A Brookings study suggests other areas of the country, including Raleigh, N.C., Austin and Atlanta will get plenty, too. One thing is for sure. Over the next 10 years, the 18 to 49 age segment is projected to grow by only 1 percent to about 137 million. Meanwhile, the 50-plus age segment will swell 21 percent to 116 million. So there will be plenty of us to go around. ### Reaching out to baby boomers TAMPA —The baby boom generation may not have the same spending power it had before the economic downturn, but it still has the critical mass. In 20 years, there will be twice as many people over the age of 65 as there are today, said Matt Thornhill, founder and president of The Boomer Project, a Richmond, Va.-based firm that researches boomer consumer habits. Thornhill is one of several speakers who will discuss marketing to boomers at the Florida Boomer Lifestyle Conference May 11-12 at the Tampa Convention Center, presented by CreativeTampaBay and sponsored by Blue Cross and Blue Shield of Florida. And then there’s the emerging consumer class made up of people hitting the big 5-0 that continues to gain relevance with marketers. “What I saw was that marketers didn’t know what to do with baby boomers who were turning 50,” said Thornhill. “They weren’t senior citizens, but they weren’t young adults.” The encore career People may want to help society and enhance their own well-being, Hardy said. They also are motivated by the changes in the economy. With many people extending their careers, there may be a slowdown in the number of people moving to Florida, said Thornhill. “There are certainly going to be more older people,” he said. “The question is can we get them to come to Florida and stay in Florida?” The region must rethink its approach and “get smarter about planning,” Thornhill said, because the boomer presence affects not only health care, real estate and financial services, but all industries. “Our core, target market is a baby boom generation,” said Don Barry, president and CEO of OttLite Technologies Inc., a Tampa-based manufacturer of personal lamps. “We have configured our market plan and product campaign around baby boomers.” Barry has found a way to market to and employ the existing retirement population in the Bay area using a “retirement community direct business model.” As a market test, the company will enlist residents of Sun City Center as “ambassadors” to engage potential customers in a combination of print, Internet and direct selling. A retirement community is a rich opportunity with a perfect market in a concentration of thousands of homes, Barry said. ### It may be time to focus on baby boomers Is the Tampa Bay area ripe for a new business cluster that caters to the coming wave of baby boomers? Two marketing hotshots with formidable track records of nailing trends ahead of the curve — and doing something about them — think so. Deanne Roberts and Michelle Bauer, two founders of CreativeTampaBay (the global creative industries movement sparked by Richard Florida), suggest entrepreneurial opportunities abound for building businesses here to serve baby boomers. Boomers (like me), between their mid 40s and early 60s, are expected to come here in droves over the next decade. ### |