Tap social network to woo 50-plus consumers

Today, when every company - from a start-up to an established multinational - wants to target young buyers, it might be a good idea to gain deeper insights into what the older generation wants. This was the thought behind Generation Asia Power, a proprietary study by digital marketing agency VML. For the purpose of this report, the company defined older generation as consumers aged 50 years and above.

According to the report, there are 92 million Facebook users in India. Of these only 2.4 per cent users are in the age group of 50 and above. While this may seem like a small percentage, a close look at the data points in the direction of a big opportunity for marketers: this comes to three million users in this demographic.

The research also finds that the population born in the 1960s is well educated. It has high disposable incomes and frequently access the internet for tasks like utility bill payment and travel reservations. Thus, travel and tourism is one sector that can benefit by targeting the age group better. Another large untapped area is leveraging this generation's experience for youngsters who need their expertise, suggests the report. In fact, 71 per cent respondents said that the Internet makes them feel they can make an impact on society.