Marketing to Seniors Predicted to Change
Just because retailers are selling a product or service designed to reach the 65+ age group doesn’t mean they should fall back on the traditional stereotypes to generate attention and sales. Neither should they focus on using models who are at least a decade younger than the target audience. Instead, experts now say, the path to success is to focus on showing how the product or service meets a need. This strategy will keep older consumers from being turned off according to a recent Nielsen Media release that considers the nuances of marketing to Seniors.
Experts note that it’s important to connect with values held by this target demographic. For example, many older consumers value:
- Family time 28%
- Grandchildren 25%
Successful marketing campaigns can also emphasize Seniors’ ‘connectedness’ with others outside the family.
Most importantly, avoid the following errors when designing marketing campaigns:
- Talking down (patronizing the market)
- Familiarity and vulgarity
- Grammar errors in ad copy
At age 65+, many in this group are ” ‘having a second middle age before becoming elderly,’ says Ann Fishman, president of Generational Targeted Marketing.” Researchers emphasize that Seniors have more funds to spend than other age groups in the current recession. But they will not necessarily spend on wants, only needs. The trick is to position services, products and even adventure travel as satisfying these needs.[Source: Nielsen Business Media, Marketing to Today’s 65-Plus Consumers, 8.2.09]