SAN FRANCISCO–JWT Mature Market Group and KnowledgeBase Marketing Inc. have introduced a segmentation system to help marketers reach and communicate with baby boomers and seniors better.
This analytical tool, called Mature Data Profiles, segments consumers born before 1965 into 34 distinct clusters with similar purchasing power, behavior, lifestyle choices, life stage, demographic attributes, socio-economic status and attitudes. The announcement was made at the DMA06 conference and exhibition here.
“Most senior marketers depend on age and income to target mature consumers,” said Maria Herlihy, senior vice president of analytics for KnowledgeBase Marketing. “Income is not always a reliable indicator of wealth, especially for retired persons, as they are financing their lifestyles through portfolios built over a lifetime. Mature Data Profiles addresses the market holistically, examining multiple aspects of their behavior to create accurate indicators of the diverse life of the mature individual.”
Until now, marketers focusing on the burgeoning mature market had to rely primarily on age and income. Mature Data Profiles’ 34 consumer segments create a clearer picture of the mature market, enabling companies to better target their best prospects and fine-tune their offers. Marketers can more effectively select prospects, tailor messaging and make more informed marketing decisions, resulting in higher ROI.
KnowledgeBase Marketing, Richardson, TX, provides information and database marketing solutions. KnowledgeBase Marketing’s parent company, Wunderman, is a division of Young & Rubicam Brands and a member of the WPP Group.
In 2005, KnowledgeBase Marketing and JWT Mature Market Group each introduced segmentation systems targeting the mature consumer.
By combining JWT Mature Market Group’s expertise in the mature market with KnowledgeBase Marketing’s data and analytics experience, they created this more comprehensive model to focus on the lucrative and growing segment of those born before 1965. The system uses data from KnowledgeBase Marketing’s AmeriLINK National Consumer Database, which is recognized for its superior age information, a key factor in the accuracy of the segmentation system.