There are over 77 million baby boomers in the United States today. Baby boomers are those people who were born between 1946 and 1964, after the Second World War when optimism was part of the fabric of America. From a legal marketing standpoint, they are a unique demographic. Most own their own homes, have paid off their mortgages, and thus have more expendable income than the average millennial. However, they are not necessarily as tech savvy as millennials and can be more difficult to reach through current tried-and-true marketing strategies.
Millennials learn about things online primarily through the use of social media. The trend in legal marketing has been toward search engine optimization (SEO), but according to software and services provider SDL, most millennials prefer Facebook and Twitter over search engines for content discovery. SDL’s research also suggests, that millennials prefer hyper-targeted content. Hypertargeting is the ability to deliver advertising content to specific segments of the population based on their demonstrated behaviors and interests. Social media platforms like Facebook provide ad targeting services that show ads to specific users based on keywords from their profiles, pages and posts that they have “liked,” events that they have responded to, and applications that they have used.
So what exactly is a “millennial”? Millennials, or Generation Y, are the generation born between 1982 and 1997. Numbering over 75 million strong, this group wields about $1.3 trillion in annual spending power. In thinking about how to reach this demographic, it helps to understand as much as possible about them. Millennial grew up with the Internet and smartphones, and seem to be plugged in 24/7. They also grew up in a world with decreased opportunity, a recession economy, and oppressive student loan debts. They are more likely to want to actively participate in their own legal issues, and they respond to marketing that is interactive and tailored to their own needs and wants.
Fake news is nothing new. Most of us are old enough to remember seeing far-fetched celebrity tabloid stories, or stories about “Batboy” while waiting in line at the grocery store. But the rise of social media and the most recent election cycle has changed things—and fake news is now a buzzword we can’t escape.
This is a really exciting time in technology. All the major tech players, including Facebook, Google, Apple, Amazon, and Microsoft, are amassing armies of engineers to develop their Virtual Reality platforms. A number of smaller companies, notably Magic Leap, are working around the clock to create VR hardware and content. Magic Leap specializes in mixed-reality technology— where fantasy is overlaid upon the real world, resulting in an experience that tricks your body and brain into thinking that you are having a real experience. VR easily calls to mind gaming and entertainment, but what is the application for law firms?