With all possible target markets, why would anyone want to market to seniors anyway?
Considered by some to be a “lost cause,” they are labeled too old, too disabled, too foreign, or too frugal. While those nicknames may apply in some cases, it’s surprising how wrong those perceptions are when examining the reality of today’s public procurement despite a sour economy, a housing crisis, and unemployment at its worst level in decades.
Older people suddenly look very attractive to some, if not all, marketers because of some important facts:
Misconception n. ° 1: the elderly are a minority
Done: 76 million baby boomers in the United States are now turning 65, a fact that is putting older people in the majority. According to a February 6, 2011 New York Times In the article on the business of aging, these new older adults are different from previous generations, anticipating a life expectancy that is longer than in the past, a period of at least another twenty years. Globally, the segment of the population age 65 and older will more than double, from 523 million to 1.5 billion by 2050, according to United Nations estimates. The US Census Bureau. USA It reports that there are more women than men in the entire country with the Northeast at the head of that distinction, as well as having the highest percentage of people in the age group of 65 years or older. Although more people will postpone their retirement in the interest of maintaining a sustainable income, those who choose to retire will have plenty of free time for which the only salvation is to keep busy. And extrapolating the truth from reality, staying busy means older people will understand one of the country’s largest markets, too expansive to ignore and certainly too available to fire.
Misconception n. # 2: older people are too old, have tech issues, and are computer phobic
Done: With “senior citizen” defined as someone who has reached old age, (to the amusement of this writer, still described as “old” in some dictionaries), most baby boomers will be a relatively young group (65 years to 65 years). 74) until the year 2034. Those are about twenty years in which sellers can benefit. Baby boomers are not wall flowers intimidated by the prospect of going dancing. In fact, these are our promoters, architects, mature and experienced, who have been great participants in, if not initiators, of today’s technologically advanced lifestyle for most of their existence. Barely prone to leaving society, these are connected individuals aware of the ramifications of social media and Google rankings, alternately engaged and irritated by the environment of political missteps and world events, and influenced by the consequences of the job loss and home foreclosure. These are very conscious consumers of the most formidable stature.
Misconception n. # 3: older people are too “cheap” to spend money
Done: Older people are today’s biggest spenders. According to estimates based on a consumer spending survey by the Bureau of Labor Statistics, about $ 2.6 trillion was spent in 2009 on baby boomers’ homes in the United States. That’s a 45% increase year-over-year, as measured by a Gallup poll cited on June 10, 2010 New York Times Catherine Rampell article entitled “Who Spends Again? The Rich and the Old”.
While it is true that older people tend to be more conservative in their tastes and frugal in their choices, it is also true that their spending habits are greatly affected by the wants and needs of those who are important to them: their children, Grandchildren and Great Grandchildren If, for example, the child of a senior citizen has lost his job and can no longer support his family at the comfort level he once enjoyed, away from grandma watching them suffer. Many older Americans have welcomed younger generations into their homes and are now spending generously to keep them fat and happy, so to speak.
But there is another reason older people have relaxed the tight reins of their often oversized nests. Recent stock market gains have a psychological impact on the mindset of retired people with investments, even if those investments are based on bonds or annuities, leading them to the conclusion that they are richer. Add this feeling to the reasoning that older people may feel that life is too short and that now is the time to splurge before it is too late. Reinforced by years of moderately successful finances now enhanced by the wispy fruits of social security benefits, some of these older adults enjoy significant means and plan to experience the luxuries of life before time runs out.
What does that mean? It means vacations, cruises, luxury vehicles and home entertainment shopping. It means buying clothes, jewelry and gifts for children. It means spending on hair and nails, plastic surgery and a new smile. It means going out to dinner and going out for a night of pleasure. Everything on a regular basis. Once they start, it is difficult to stop.
Misconception n. # 4: older people have no brand loyalty
Done: Older people demonstrate brand loyalty far more than members of today’s younger generation who tend to be fickle, flitting from one thing to another in the blink of an eye. While fads, trends and social influences attract young people from one product to another, older people are considered more valuable as customers, according to a September 26, 2007 New York Times Matt Richtel’s article on “Sticky Old People”. An older person will take time to evaluate a decision carefully and stick with that commitment longer as a general rule.
Although seniors have lifelong experience, insight into a wide range of subjects, and valuable skills representing a variety of careers, such wisdom is viewed with some reserve in today’s changing and growing world. First, old age tends to cause forgetfulness and memory loss. Second, when it comes to knowledge availability, Google provides answers to anything and everything in a matter of milliseconds, just a level playing field for an older person (or anyone else), regardless of how smart or accomplished they can be. be. Ultimately, the skills that older adults have mastered tend to be for things we no longer need or use, such as yesterday’s motors or outdated entertainment hardware, for example, now replaced by advanced-level wireless computer technology. Even if seniors have kept up to date with all technological developments over the years, their motivation to stay on top of such changes once retired decreases considerably, as does their retention capacity. A younger person has the advantage here.
Misconception n. # 5: Seniors won’t buy anything unless there’s a discount
Done: If there is one thing that older people totally master, it is the health market, discounted or not discounted. No one buys more health-related products than older people, making them easily the most valuable market for companies in that industry, without exception. Old age, by nature, brings difficulties with balance, dexterity, autonomy and mobility, as well as maintenance and sensory retention. Some of these conditions encourage social withdrawal. Industries concerned with protecting older people from physical and psychological death can only hope to reap the benefits of their manufacturing and marketing acumen. However, it is clear that the possibility of investing heavily in the development of products that can serve such purposes is causing concern within companies about to benefit. The reason for this is that the senior market is still untested territory, as it has not shown that it will buy new technologies that preserve health and wellness, even if there is a dire need. Rather, companies like Ford Motor, which has a hands-free, parallel parking system that alleviates the need to strain the neck (a common danger of aging), along with blind spot detection and a voice-activated audio system. Take comfort in your ability to market to a broad-based market, not just targeting mystery seniors for product success.
During the writing of this article, a local non-profit organization “Aging in Place” contacted me and stated that they needed a marketing plan to facilitate an increase in paid membership. Aging in Place is a concept used by national groups of senior citizens to describe efforts to help older adults stay in their own homes for as long as possible, while receiving assistance from a variety of outside services, if any. necessary, to find solutions to any inconvenience or inconvenience. problem faced This could include help with medical, social, financial or nutritional needs, to name a few.
At the same time, many of the real estate development companies across the country have embraced the idea of building suitable retirement or residential centers for seniors that incorporate new technologies to monitor the health and safety of their residents, as well as restaurants, restaurants and social restaurants. The areas of entertainment, fitness and physical therapy are a safe bet for senior marketing.
Certainly, any scenario makes sense as long as all marketers tackle the age-old question: what’s the best way to reach older people? Or, instead, the question is how to reach the adult children of older people? While the options remain the same as when trying to reach the full market, all of which are costly when an unknown response rate is always possible, there are ways to target older people with intuitive reasoning. Think old-fashioned if you want an old demographic; Think creatively to reach the “youngest” baby boom or your adult children. Among a whole series of strategies, outdated means newspaper advertising; on conservative talk radio shows; o Marketing sponsorship and live presentations with brochures at fairs and events for seniors at community or religious centers. Creative marketing can mean using the Internet to reach technology-savvy seniors through an email campaign; or sponsored ads to accompany appropriate Google searches, just to touch the tip of the iceberg of possibilities. Probably the safest route for any senior is through their mailing address, whose lists can be purchased through age selection plus a range of other parameters that may be appropriate.
And as with any marketing, an effort may not be enough. In general, a diversified approach, as well as multiple attempts, is what means a more successful result, being careful to measure the response at each step of the process. But keep one thing in mind. Older people have become victims of scams more often than we want to admit. While some may still be helplessly vulnerable, others have become even more cautious, wary of every marketing offering they come across.
If you poverty to enjoy the Unspoiled Being: Making money in the pleasure of your own lodging oeuvre online, then this is for YOU!: Click Here
Comentarios
Publicar un comentario