330 people an hour will turn 60 in 2006. Learn where the best bets are to profit from this exploding market.
“Mary is an evangelist who has been selling the dream of the boomer/senior market for over twenty-five years. She understands the customer segment better than anyone, and this book reflects her insight.”
—Guy Kawasaki, Managing Director, Garage Technology Ventures and author of The Art of the Start
“Dr. Mary Furlong is a true visionary. Her insights and market intelligence are consistently spot on and her notions about what to do and how to do it demand serious attention from start up entrepreneurs to Fortune 500 executives. In Turning Silver into Gold she has done a masterful job of revealing a broad range of timely and actionable paths to success. I heartily recommend this book to anyone interested in gaining a better understanding, and meeting the myriad needs, of a maturing population.”
—Ken Dychtwald, Ph.D., President of Age Wave, Author of The Age Wave, Age Power, and The Power Years
“Mary Furlong’s book has a social heart as well as a business sense. She is trying to assist people who are in business, but not simply for the sake of exploiting a market. Adding value to life is as important to her as it is to us at AARP.”
—From the Foreword by Bill Novelli, Chief Executive Officer, AARP
“Mary Furlong is an expert on the Baby Boomer demographic as an academic, entrepreneur, and marketer. She has lots to teach about how to successfully reach and impact this enormous market.”
—Myrna Blyth, Founding Editor, More Magazine
“Furlong displays a genuine grasp of boomer sensibilities, especially those of decency and happiness and the common good; when she speaks of value added, it is not just the markup but how the product or service adds to the pleasure of living right and well.”
—Kirkus Business & Personal Finance Report
As they age, America’s 78 million baby boomers will live more active, creative, inventive lives than any generation before them. This represents a truly enormous business opportunity. In this book, the world’s number one authority on marketing to “post-50” baby boomers offers a complete blueprint for profiting from that opportunity.
Dr. Mary Furlong reveals breakthrough product and service opportunities, and gives you the tools, resources, techniques, and data you need to capitalize on them. She offers powerful insight into baby boomers’ new lifestage transitions in housing, health, fitness, finances, family, fashion, romance, travel, and work–and the new brand choices they’re about to make.
Throughout, Furlong combines extensive, authoritative market research with inspirational stories about passionate, tenacious entrepreneurs and brand leaders who are blazing new trails in these fast-growing markets. You’ll learn how to segment boomer markets, and identify opportunities to innovate entirely new categories of products and services. You’ll discover which sales and marketing strategies really work, and even uncover opportunities in the surprising worldwide boomer market.
Five trends shaping the next baby boomer revolution
Global markets, longevity, lifestage transitions, technology, and spirituality
From concept to product to financing, and beyond
All you need to execute on your baby boomer product/service opportunity
The new healthcare revolution, the new healthcare business
How boomers are using the newest innovations to take control over their health futures
Sex and romance: I’ll have what she’s having
The new sexual revolution: making it feel like the first time–or better
Choosing families, making connections
Powerful new opportunities in helping boomers reach out and connect
About the Author
Dr. Mary S. Furlong is the leading authority on the baby boomer generation as it moves beyond 50. She founded Mary Furlong & Associates to help socially and consumer-conscious companies reach this growing market. She is also Executive Professor of Entrepreneurship and Women in Leadership at Santa Clara University’s Leavey School of Business.
Before launching Mary Furlong & Associates, Dr. Furlong founded the nonprofit organization SeniorNet in 1986. She founded Third Age Media in 1996, ultimately reaching more than two million members. Throughout the course of her work for both organizations, she raised $120 million in venture capital funds. She has advised President Clinton, Congress, the AARP, and corporate clients including IBM, Johnson & Johnson, Merrill Lynch, Procter & Gamble, and Microsoft.
With the American Society on Aging, Dr. Furlong co-produced the successful 2004, 2005, 2006, and 2007 What’s Next Boomer Business Summits. She was Executive Producer of the 2005, 2006, and 2007 Silicon Valley Boomer Venture Summits and $10,000 Boomer Business Plan Competitions. She is a member of the Leadership Circles of the American Society on Aging’s Business Forum on Aging, the National Council on Aging (NCOA), and the AARP. She is also an advisor to several start-up companies all focused on the boomer market.
Dr. Furlong has appeared on CBS, NBC’s Today Show, PBS, and NPR to discuss trends in aging andtechnology. She was named one of the top 50 businessleaders by Time Digital, and has also been honored by Fortune Small Business Magazine. Her books include Grown-Up’s Guide to Computing.
About the Author x
Chapter 1: A Global Overview of the Boomer Market 9
Chapter 2: The Business of Health 21
Chapter 3: Travel: An Adventure for the Heart, Mind, and Soul 41
Chapter 4: It’s Your Passion: Make It Happen 65
Chapter 5: Sex and Romance: I’ll Have What She’s Having 83
Chapter 6: Jeans, Jeans, You’re Young and Alive 99
Chapter 7: Gimme Shelter–And a Whole Lot More 115
Chapter 8: A Family of Our Own Choosing 141
Chapter 9: Eldercare: The New Midlife Crisis 161
Chapter 10: Financing Your Dream 177
Chapter 11: On the Age Beat: The Media and the Message 199
Chapter 12: Growing the Boomer Business: Sales and Marketing Strategies that Really Work 213
Chapter 13: The Class Act: Gold at the End of the Rainbow 233
Appendix A: The Connected Boomer 243
Appendix B: Boomers and Money 253