Five Common Myths About Marketing To Senior Citizens_

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  • 1. Five Common Myths About Marketing To Senior CitizensWith the possible target marketplaces available, why would anybody wish to sell to senior citizens,anyway?Considered by some like a "lost cause," theyre called too old, too disabled, too oblivious or too frugal.While individuals monikers may apply in some instances, its astonishing how wrong individualsawareness are whenever you examine a realistic look at present day purchasing public despite a soureconomy, a genuine estate crisis and unemployment at its worst level in decades.All of a sudden, senior citizens are searching mighty attractive to some, if not completely,entrepreneurs due to a couple of major details:Misunderstanding #1: Seniors have been in the minorityFact: 76 million baby seniors within the U. S. States are actually turning 65, a well known fact that isputting seniors within the majority. Based on a February 6, 2011 New You are able to Occasionsarticle around the business of getting older, these new seniors arent the same as previous decades,anticipating a existence expectancy thats more than previously - a time of a minimum of another twodecades. Worldwide, the segment from the population 65 and older will a lot more than double, from523 million to at least one.5 billion through the year 2050, based on estimations in the Un. The UnitedStates Census Bureau reviews that you will find more women than males countrywide using theNortheast within the lead for your distinction, too for getting the biggest number of individuals the agebracket 65 and also over. Although more and more people is going to be putting off their retirementwithin the interest of maintaining a sustainable earnings, individuals that like to retire may have plentyof time available that the only real salvation would be to keep busy. And extrapolating truth fromreality, keeping busy implies that seniors will comprise among the countrys biggest marketplaces, tooexpansive to disregard and definitely too open to dismiss.Misunderstanding #2: Seniors are extremely old, technologically challenged and computerphobicFact: With "seniorInch defined as somebody who has arrived at senior years, (yet, towards theamusement of the author, still referred to as "ancient" in certain dictionaries), the majority of babyseniors is a relatively youthful group (age 65-74) before the year 2034. This is a good two decades ofyour time by which entrepreneurs may benefit. Baby seniors arent some wall flowers afraid of thepossibilities of walking to dance. Indeed, they are our gadget-savvy, forward-thinking, mature andexperienced, moving firm and shakers whove been large participants in, otherwise initiators of,present day technologically advanced type of existence for many of the existence. Hardly vulnerableto shedding from society, they are connected people conscious of the implications of socialnetworking and Google ratings, alternately engaged and inflammed through the entourage of politicalproblems and world occasions, and affected through the fallout from job loss and residentialforeclosures. They are really aware customers of the very formidable stature.Misunderstanding #3: Seniors are extremely "cheap" to invest anythingFact: Senior citizens are present day greatest spenders. Based on estimations with different
  • 2. consumer expenditure survey carried out through the Bureau at work Statistics, in 09 about $2.6trillion was spent by baby boomer homes within the U. S. States. Thats up 45% annually asmeasured with a Gallup poll reported inside a June 10, 2010 New You are able to Occasions articleby Catherine Rampell, titled "Whos Investing Again? The Wealthy and also the Old."While its true that senior citizens tend to be conservative within their tastes and frugal within theiroptions, its also correct that their habits of investing are greatly impacted by the needs and wants ofindividuals vital that you them: their kids, grandchildren, and great grandchildren. If, for example, theboy of an older person has lost his job and may no more support his family to the stage of comfortthey once loved, far whether it is from grandmother to look at them suffer. Many older People inamerica have welcomed the more youthful decades back to their houses and therefore are nowinvesting liberally to ensure that theyre body fat and happy, as they say.But theres one more reason why senior citizens have relaxed the tight reins on their own frequentlyextra-large retirement savings. Recent stock exchange gains possess a mental effect on the mindsetof upon the market individuals with opportunities, even when individuals opportunities are bond- orallowance-based, leading these to the final outcome that theyre wealthy. Add these feelings towardsthe rationale that senior citizens may go through that existence is simply too short and this is the timeto splurge prior to it being past too far. Bolstered by many years of moderately effective finances nowenhanced through the tenuous fruits of social security benefits, a few of these senior citizens enjoysignificant means and intend to experience lifes luxuries before time expires.What am i saying? This means holidays, cruise ships, luxury automobiles, and residentialentertainment purchases. This means searching for apparel, jewellery and gifts for the children. Thismeans investing on hair and nails and cosmetic surgery along with a new smile. This means eatingout and heading out for a night of enjoyment. All regularly. After they get began, its difficult toprevent.Misunderstanding #4: Seniors dont have any brand loyaltyFact: Senior citizens demonstrate brand loyalty a lot more than people of present day more youthfuldecades who are usually unpredictable, bouncing in one factor to a different in the drop of the hat.While fads, trends, and social influences lure youth in one product to another, senior citizens arethought worth more as clients, based on a September 26, 2007 New You are able to Occasionsarticle by Matt Richtel on "Sticky Old People." A senior will make time to assess a choice carefullyand can stick to that commitment longer typically.Although senior citizens possess a duration of experience to attract from, an abundance ofunderstanding in regards to a whole selection of subjects, and valuable abilities representing anumber of careers, such knowledge is seen with a few reservation in present day quickly alteringworld. First, senior years has a tendency to cause forgetfulness and loss of memory. Second, if thisinvolves accessibility to understanding, Google provides solutions to everything and anything withinmilliseconds, hardly an amount playing area for an older person (or anybody for your matter), nomatter how wise or accomplished they might be. Finally, the abilities senior citizens have masteredare usually for things we no more need or use, like yesterdays engines or obsolete entertainment
  • 3. hardware, for instance, now changed by wireless computer systems of the very advanced level. Evenwhen senior citizens have maintained with every technological development over time, their reason tokeep up to date with such changes once upon the market reduces greatly, along with theirconvenience of retention. A more youthful person has got the edge here.Misunderstanding #5: Seniors will not buy anything unless of course theres a price reductionFact: If theres one factor which senior citizens totally dominate, its the health care market, discountor no discount. Nobody purchases more health-related items than seniors, which makes them easilyprobably the most valuable marketplace for companies for the reason that industry, bar none. Senioryears, by character, leads to problems with balance, skill, autonomy and mobility, in addition tophysical maintenance and retention. A few of these conditions encourage social withdrawal. Theindustries that focus on safeguarding senior citizens from physical and mental demise are only able tobe prepared to reap the rewards of the manufacturing and marketing acumen. Yet, its apparent thatthe possibilities of trading heavily into the introduction of items which could serve such reasons isconjuring up trepidation within companies poised to profit. The main reason for your would be that thesenior marketplace is yet misguided territory, getting not proven that itll subscribe to technologywhich preserve health insurance and well-being even when theres a dire need for this. Rather, thelikes of Ford Motor, with a hands-free, parallel parking system which helps reduce the necessity tostrain a persons neck (a typical pitfall of getting older), combined with blind-place recognition alongwith a voice-triggered sound system, take solace within their capability to sell to an extensive-basedmarket, not only focusing on the mysterious senior citizens for product success.Throughout the writing want to know ,, I had been coincidentally approached with a local non-profit"Aging in positionInch organization who stated they needed an advertising and marketing intend tofacilitate a rise in compensated membership. Aging in position is really a concept utilized by nationalsenior groups to explain efforts to assist older grown ups remain in their own individual houses aslengthy as you possibly can, while receiving the help of a number of outdoors services, as needed, tolocate solutions for just about any inconvenience or problem faced. This might include assist withmedical, social, financial or dietary needs, to title a couple of.Simultaneously, most of the property development companies countrywide have accepted theconcept that creating senior-appropriate residential or retirement centers which incorporatetechnology to watch the safety and health of their citizens, and also on-site social, dining,entertainment, fitness and physical rehabilitation areas, really are a safe wager for senior marketing.Certainly either scenario is sensible as lengthy as all entrepreneurs address age-old question: whatsthe easiest method to achieve seniors? Or, may be the question rather, how you can achieve theadult kids of seniors? As the options stay the same as when attempting to achieve the entire market,which are costly when a mystery response rates are always possible, you will find methods to targetsenior citizens with a few intuitive reasoning. Think old-fashioned if you would like a maturedemographic think artistically to achieve the recently inducted "more youthful" baby boomer senior orhis adult children. Among an entire variety of methods, old-fashioned means advertising within thedaily newspaper on conservative talk radio programs or sponsorship marketing and live presentations
  • 4. with giveaways at senior festivals and occasions at community or religious centers. Creativemarketing may mean online to achieve the greater tech-savvy senior with an email campaign orbacked advertisements to accompany appropriate Google searches, to barely touch the end from theiceberg of options. Most likely the most secure path to all ages senior is thru his postal address, listsof which may be bought through age selection along with a gamut of other parameters which mightbe appropriate.And just like any marketing, one effort might not be enough. A varied approach in addition to multipleattempts are often what spell a far more effective outcome, being vigilant to measure responsethroughout all the process. But keep one factor in your mind. Senior citizens have grown to besufferers of ripoffs more frequently than we love them to confess. Although some can always behelplessly vulnerable, others have grown to be much more wary, distrustful of each and everymarketing offer they encounter!buy gogole plus one