Ads geared toward older consumers tend to be condescending at best, offensive at worst, says Jeff Beer, a writer for Fast Company, an online company that looks at world changing ideas and trends.
In this article, Jeff outlines how marketing has failed to serve one of the biggest and fastest growing demographics – the 55+ consumer group.
When you think of advertising for older people, do you automatically think of reverse mortgages, erectile dysfunction and walk in tubs?
You’d think this group of consumers never drove a car, lived in a house or visited a restaurant.
In fact, you’d think they don’t even exist – because only about 5% of US advertising revenue is aimed at people over 50. There’s no reason to believe Canada is any different.
Yet, this group is expected to generate half of all consumer growth for the next 15 -30 years.
Most advertisers see the “next generation” as “more exciting” but the reality is their disposable income is undeveloped and the cost of producing marketing materials to attract this group is exceptionally high. With all the media vying for their attention, you’ve got to work that much harder to get their attention.
Pivot to the older consumer – and it’s just the opposite response from advertisers who insist on producing formulaic, worn-out same-old ads that are listless and, frankly – outdated.
Advertising to today’s 55+ consumer has not yet undergone the full transformation needed to keep up with the Jones’s. We still overlay the stereotype of our grandparents on this group and don’t recognize that they are buying many of the same products that those in the 18 – 45 age group are buying.
There is real opportunity in marketing to the 55+ consumer, not just because of their disposable income, but because they are just as eager to be educated, informed and entertained. They want to have a good experience when they see your ad.
Aside from healthcare, which is growing massively, luxury brands are also discovering that the 55+ demographic is their prime target. Chanel says 80% of their fashion is sold to this demographic.
Brands like L’Oreal Paris and Covergirl are crossing the generational divide – making age a non-issue. Jane Fonda and Helen Mirren, not to mention Canada’s Maye Musk (mother of Elon Musk), are in high demand as models representing women over 55 in the fashion and beauty industries.
Other industry leaders are also taking note of the age trend. Toyota has marketed cars to the empty nesters. Nike launched their “Unlimited” campaign featuring 86-year old Ironman athlete Sister Madonna Buder. Mercedes had a 2017 “Grow Up” campaign featuring aging boomers.
So how do you position yourself? The trend watchers in the 55+ marketing mashup say we should focus on Attitude, not Age.
It’s not how old you are, it’s what you do with your life – and most 55+ people are living it to the fullest. They are bringing their interests from their youth with them, and adding some new twists along the way. The top trends aren’t just for the young, they are also for the young at heart.
Regardless of age, what every generation appears to value most is a planet where all ages live together harmoniously. When we see an ad that contains an intergenerational element, we intuitively know it’s hitting the right vibe. We are meant to live together, to collaborate and honor the qualities we bring to the table, not matter how old we are.
The zeal of youth does not outshine the wisdom and experience of our elders. Combining them brings all the colours together and weaves a societal fabric that is stronger and more resilient than when we silo.
Is it time to rethink your marketing message to your 55+ customers?
Are you still playing the golden oldies? Or can you freshen your approach to create marketing campaigns that reflect the energetics of a 55+ generation that is not anything like its predecessors?
Reframing your marketing message could be the key that unlocks the door so you can tap into this lucrative and dynamic consumer group.
Referenced article by Jeff Beer: https://www.fastcompany.com/90341477/why-marketing-to-seniors-is-so-terrible