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Five Common Misconceptions About Marketing to Seniors
With all the opportunity marketing out there, why would anyone want to market to seniors, anyway?
Some consider it a “missing issue,” labeled as too old, too disabled, too forgetful, or too clumsy. While those naysayers may be appealing at times, they are surprisingly wrong when you look at the reality of public procurement today despite a bad economy, a housing crisis and unemployment at its peak. worst in decades.
Unexpectedly, seniors are looking more favorably on some, if not all, merchants because of some important facts:
Misconception #1: Older people are in the minority
Facts: 76 million baby boomers in the United States have turned 65, a fact that puts the majority of senior citizens. As of Feb 6, 2011 New York Times essay on the business of aging, these new people are different from previous generations, and expect to live longer than ever before – a period of two decades. Globally, the share of the population 65 and older will more than double, from 523 million to 1.5 billion by 2050, according to United Nations estimates. According to the US Census Bureau, women outnumber men nationwide, with the Northeast leading the way for that divide, including the highest percentage of people over 65. away. While more and more people are delaying their retirement out of a desire to maintain income, those who choose to retire have a lot of time on their hands, and the only cure is to stay busy. . And, adding to the truth from reality, the busy lifestyle means that older people make up one of the largest markets in the country, too broad to ignore, too convenient to cancellation.
Misconception #2: Older people are too old, tech-challenged and computer-mad
Facts: While “old man” has been defined as someone who has aged, (but, to this writer’s amusement, it is still called “old” in some dictionaries), baby boomers are mostly a group of young ( 65-year-old). 74) until 2034. That’s a good twenty years for traders to profit from. Babies aren’t wallflowers who dread the idea of going to a dance. In fact, it’s our idea of a tool, forward-thinking, hard and smart, movers and shakers that are heavily involved in, even for the uninitiated, today’s technological trends for the most part. of their lives. Unable to leave society, these are connected people who know the benefits of social media and Google logos, and join with anger the group of politics and world events. , and is influenced by the percentage of job losses and home foreclosures. These are very savvy buyers in a very scary situation.
Myth #3: Older people are “too young” to spend money
Facts: Seniors are the biggest spenders these days. According to estimates based on a consumer spending survey conducted by the Bureau of Labor Statistics, in 2009 baby boomers in the United States spent about $2.6 trillion. That’s up 45% year over year as measured by a Gallup poll published on June 10, 2010. New York Times article by Catherine Rampell, titled “Who’s Spending Again? The Rich and the Old.”
While it is true that the elderly are more protective of their tastes and are more selective in their choices, it is also true that their spending habits are greatly affected by the needs and wants of the elderly. important to them: their children, grandchildren, and leaders. grandchild. If, for example, the son of an elderly man has lost his job and is no longer able to support his family with the kind of comfort they once enjoyed, the grandmother will not see them it hurts. Many older Americans have welcomed the younger generations back into their homes and are now working hard to stay fat and happy, so to speak.
But there’s another reason why elders ease the hell out of their larger nest eggs. Recent stock market gains can affect the minds of retirees and investors, whether those investments are bonds or annuities, leading them to conclude that they are richer. . Add this feeling to the fact that seniors think life is too short, and now is the time to spend before it’s too late. Buoyed by years of financial success now boosted by modest social security benefits, some of these seniors are enjoying the high road and planning to experience the pleasures of life in before time runs out.
What does that mean? This means vacations, travel, luxury cars, and home entertainment purchases. This means buying clothes, jewelry and gifts for children. It means spending on hair and nails and plastic surgery and a new smile. It means eating out and going out for a fun evening. All from time to time. Once they start, it’s hard to stop.
Misconception #4: There is no truth for older people
Facts: Seniors show more brand loyalty than members of today’s younger generations who are fickle and will run from one thing to another at the drop of a hat. Although trends, trends and social influences attract young people from one product to another, the elderly are considered more important as consumers, according to September 26, 2007 New York Times article by Matt Richtel on “Philippine Ancients.” Elders take time to assess a decision and stick to that commitment as a general rule.
Despite the longevity of the elderly, the wealth of knowledge related to a wide range of subjects, and the critical skills that characterize a variety of occupations, wisdom is viewed as important in a rapidly changing world. . First, aging brings forgetfulness and memory loss. Second, when it comes to the availability of knowledge, Google provides answers to anything and everything in a matter of milliseconds, not at the level of an adult (someone or for that matter), regardless of knowledge and practice. Finally, the skills that adults have mastered are things that we no longer use, such as yesterday’s machines or old entertainment devices, for example, that have now been replaced by advanced wireless computer technology. . Although seniors have kept up with all the technological developments over the years, their motivation to keep up with these changes decreases significantly after retirement and their ability to keep up decreases. The screen here is younger.
Myth #5: Older people won’t buy anything unless it’s free
Facts: If there’s one thing seniors dominate, it’s the health market, whether it’s paid or not. No one sells more health-related products than senior citizens, because it’s clearly the largest market for businesses in that industry, with no restrictions. Aging, of course, can lead to difficulties with balance, agility, independence and mobility, as well as care and maintenance of sensitivity. Some of these methods encourage social adoption. Industries that work to protect the elderly from physical and mental illness can only hope to reap the benefits of their manufacturing and marketing efforts. However, it is clear that the prospect of spending a lot of money on the development of products that can achieve those goals, is frustrating in companies that are ready to be profitable. The reason for that is that the main market is an untested territory, because it has not been proven that new technologies that protect health and well-being will be bought even if there is a great need. However, companies such as Ford Motor Co., Ltd., have a hands-free parallel car system, which is vulnerable to the urge to stab people in the neck (a common disease of old age), combined with blind search and audio-visual system, be quiet. their ability to market to a broad-based market and not just focus on the lost seniors for product success.
While writing this article, I came across a local “Aging in Place” non-profit organization that said it needed a marketing plan to increase paid membership. Aging in Place is a concept used by national seniors organizations to describe efforts to help seniors live in their own homes for as long as possible, while receiving assistance. they call from various external services, if needed, to find solutions for problems, problems that have occurred. This may include assistance with medical, social, financial or nutritional needs, to name a few.
At the same time, many real estate development companies across the country have embraced the idea of building affordable senior living or retirement homes that incorporate new technologies to monitor health and the safety of its residents, including the social area, food, Recreation areas, physical and physical therapy areas, a safe area for the main market.
It certainly makes sense if all marketers ask the age-old question: what’s the best way to reach older people? Or, the question is, how to reach the older children of older people? Although the options are the same as when trying to reach the entire market, it is all worth it when the response rate is unknown, there are ways to target the elderly and some intelligent thinking. Think old fashioned if you want an old demographic; think creatively about reaching out to the “younger” child who has just joined her or her older children. Among the whole set of strategies, the old methods are reading the daily newspaper; on talk radio programs; Sponsorship marketing and live performances and giveaways at events and gatherings at community or religious centers. Creative marketing means using the Internet to reach the most tech-savvy people through an email campaign; or sponsored ads to follow relevant Google searches, as close to the tip of the iceberg as possible. The most secure way to all adults is his postal address, the lists can be purchased by choosing a number and other relevant parameters.
As with any business, one job may not be enough. A diverse approach and multiple attempts means a more successful outcome, being vigilant in measuring responses across all stages of the process. But stick to one thing. Seniors have been victims of fraud more often than we care to admit. While some are still vulnerable, others have become more cautious and don’t trust the marketing offers they encounter!
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