The Pew Research Center issued a recent study called “Take this Job and Love It.” The study is full of useful information for marketers selling products and services to the 30 million Americans who are self-employed. It offers particular reasons to target self-employed Boomers.
More Boomers are self-employed
Workers over 50 are 4 times more likely to be self-employed than workers under 30. Marketers may be justified in ignoring the mere 4% of young workers who are self-employed. But they should feel embarrassed if they are ignoring the 15% of Americans over 50 (and 25% of Americans over 65) who are self-employed.
Boomers are self-employed for different reasons
Most self-employed workers enjoy the freedom that comes from being one’s own boss. 39% of the self-employed say they are “completely satisfied” with their job; only 28% of wage earners say the same.
Most self-employed workers are also more likely to be motivated by intangible benefits. But Boomers who are self-employed have further differences from other workers. They are more likely than younger self-employed workers to say they want to help society and to make the world a better place.
Self-employed Boomer women: A gold mine for marketers
Why does this matters for marketers?
First, the self-employed spend far more money on certain products and services than other consumers.
Second, they are easy to target. (Do you ever wonder why you hear so many ads for Constant Contact?)
The Pew study not just confirms what we at VibrantNation.com already know about Vibrant Women over 50. More than younger women, they want to fulfill their own personal goals and they want their work not only to fulfill their life’s purpose but also to make the world a better place.
I have written before how marketers should appeal to the Boomer woman’s inner philanthropist. The Pew study tells us that marketers should also appeal to the fact that the reason the Boomer woman is self-employed is to make the world a better place.
Are you listening, Dell, Microsoft, OfficeMax, Staples, American Express, MasterCard, Bank of America, and Humana?
Tell the self-employed Vibrant Woman that you value her work and understand her goals; make her working life easier, and she will make you her partner in her self-employed career.
A good analysis. My sister is self-employed and although she would like to retire sooner than perhaps is economically possible, she is much happier about continuing to work than those in her age cohort who are employees.
It’s ok to earn an income as long as possible – as long as we enjoy what we are doing. Yeah! for your sister. Retired people often become volunteers – which takes away from traveling and gardening.
Boomers, entrepreneurs, independent, self-employed women over 50 yrs old – congratulate yourselves! You have won the war of the ‘male-dominated business world. Where do you network, meet, vacation, socialize, melt-down, and let-down?