Presentación Emilio Pardo AARP


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Presentación Emilio Pardo AARP

  1. 1. Relevance in the New Ageless Realities Emilio Pardo EVP & Chief Brand Officer SME Conference, San Juan, Puerto Rico October 12, 2011
  2. 2. We are a maturing society… 2
  3. 3. Numbers to ponder… 31% of the US population is 50+ = about 100 million people: three-quarters of them are Boomers 32.8% of the PR population is 50+ = about 1.23 million people: 60% of them are Boomers ♦ 50 – 54 year olds have the highest median household income of all segments =$66,244 ♦ As of January 1, 2011, just under 10,000 people will turn 65 every day – for the next 18 years ♦ Today, there are 40 million people over 65; in 2020 there will be 70 million people over 65In PR, there are 541 thousand people over 65; in 2020 there will be 983,130 people over 65. (81% growth) ♦Today, there are 17 million people in the US 75 – 85 years old; by 2050, there will be 30 million people 75 – 85. In PR, there are 167 thousand people 75 – 85 years old; by 2050, there will be 483 thousand people 75 – 85. (289% Growth) 3
  4. 4. Boomer Nation 4
  5. 5. The Boomer Market is… BIG! There are more than 96 million consumers in the US who are 50+ years of age. 77 million are considered Baby Boomers.Source: US Census Bureau, US Interim Projections, 2004 5
  6. 6. And It’s Getting Bigger… This is expected to rise to 103 million by 2012. This demographic controls 67% of US wealth ($28 trillion) and spends $3 trillion annually.Source: US Census Bureau, US Interim Projections, 2004 6
  7. 7. Puerto Rico: Demographic Shifts PUERTO RICO: MEDIAN AGE, 1990 - 2010 1990 2000 2010 Puerto Rico Median Age 27.2 32.1 36.9 U.S. Median Age 32.9 35.3 37.2 PUERTO RICO: % OF POPULATION 50+ AND 0 – 15, 1990 - 2010 50+ Population % 0 – 15 Population % 1990 768,562 21.8 1,025,060 29.1 2000 1,004,500 26.4 967,075 25.4 2010 1,223,821 32.8 789,752 21.2 By 2050, 50% of Puerto Rico’s population will be 50+.Source: US Census Bureau, 2010 7
  8. 8. Puerto Rico: Dreams for the 50+TOP DREAMS Vacation & Travel 19% Hobbies & Interests 18% Children 12% Good Health 9% Finances & Money 8% New Path 8%Source: Core Q1. Thinking about what’s next in your life, I would like you to think about the kinds of things you dream about doing—thesecould be things you have always wanted to do, but never got around to, or things you have done in the past and want to continue doing.What would you consider to be the one thing that you would most like to do? (Open ended/Unaided response) 8
  9. 9. Puerto Rico: Survey Says?According to a 2010 survey, Puerto Rico’s 50+ population is financially powerful, young at heart, protective of their properties, focused on their well-being, and live for the moment while remaining fully capable of caring for themselves in the long run. They have a desire to contribute to society and to the communities in which they live. 9
  10. 10. So it isn’t about AGE… …it’s about RELEVANCE 10
  11. 11. The Old Lens 11
  12. 12. The New Lens 12
  13. 13. Boomers: What’s Next? Only a third indicate they will stop working entirely after they retire They are re-seeking their relevance through finding purpose They want products with proof – real value not perceived value Half feel finding a purpose in life is more important than making money 13
  14. 14. What’s Next? 14
  15. 15. What’s Next? 15
  16. 16. The New Language of Living Concepts That Connect Reimagine Opportunity Accomplishment Connections Learning Discovery Growth Purpose 16
  17. 17. The New Language of Living Words to LOSE Words to USE Aging Living Longevity Bonus/ The New Life Stage Opportunity Generation Purpose Reinvention Meaning Sense of Accomplishment Life Long Learning Personal Growth Stage Learning “Aspire don’t Retire” Progression Navigator “I’m not done yet” Credible, Unbiased Source Indeed, a survey shows that Boomers in Puerto Rico are rejecting labels. They want to be treated as adults in their “mature stage” without labels referring to them as “senior citizens.” 17
  18. 18. The New Language of Living what’s out what’s in guidance fresh perspectives advice shared experiences coaching peers the reality 18
  19. 19. The New Language of Living real people, just like me. 19
  20. 20. The New Language of Living mentors + allies. 20
  21. 21. The New Language of Living language to lose…. language to use… provide guidance and expertise shared experience coach ally advisor mentor expert fresh perspective reinvent rally AARP gives/helps you with AARP connects you to information about it access to people who have done it the right language. 21
  22. 22. The New Language of Living language to lose…. language to use… learn new skills adapt your skills to new careers new skills training skills assessment community service mentoring others, sharing your expertise meeting with a professional real human interaction stories and conversations opportunities the right language. 22
  23. 23. Boomer Trends Adult Proms: coast to coast, from 20s to 60s VIP Rock Festival Packages: $1,000 air conditioned tents, gourmet meals and golf carts to a special viewing area 50+ Bikers: motorcycle makers see upside in 50+ market; and side cars make a comeback Burning Man Arts Festival: 50,000 attendees, 30% are age 40-80 “Singularity” as a mind set; MIT, Harvard and Bill Gates foresee limitless life spans 23
  24. 24. The U-bend of HappinessSource: The Economist, PNAS paper: “A snapshot of the age distribution of psychological well-being in the United States” by Arthur Stone 24
  25. 25. AARP Brand Positioning Future-oriented and Optimistic “The anthem for these generations is the desire to grow, learn, and discover. They have a positive view about these extra years of life. They see opportunity everywhere and seek it everywhere.” * Focused on Their Opportunity, Not Just their Age “I’m not thinking about where I’ve been. I’m thinking about where I’m going.” * Engaging (All About Them) instead of Paternalistic (All about Us) *You have to think of yourself as ‘Me, Inc.’”* 25
  26. 26. AARP Brand Positioning As a diverse community of members, AARP creates opportunities and drives social change to help people overcome challenges, achieve goals, pursue dreams and live their best life. 26
  27. 27. How to Communicate to 50+ It’s about living not aging. Don’t categorize. Don’t label. Don’t box them in. This is the Opportunity Generation. They see opportunity everywhere and seek it everywhere. They define and seek ways to enrich their lives themselves. They don’t need encouragement. 27
  28. 28. How to Communicate to 50+ This generation has the desire to grow, learn, and discover. They have a positive view about these extra years of life. For a great future, they see the need to be open-minded, learn new things, and embrace change. They see life as a “progression” and “continuation.” 28
  29. 29. 50+, Technology and Social Media Time to Debunk the Myths“Smartphone Ownership Among Boomers and Seniors Explodes” – Aging Online“Social Media Now Popular Among Older/Adult Internet Users” – Technorati Technology“Social Networking Gains Among Older Americans” -- New York Times“Downloadable interface simplifies Android phones for elderly users” – Springwise“Baby Boomers Far More Likely to Click Online Ads than Younger Generations…” – Marketwatch 29
  30. 30. Enter Segmentation Basis for more strategic and prioritized development of offerings delivering relevance to different 50+ audiences Basis for supporting strategic communication in ways that are culturally and ideologically relevant Boomers are NOT Monolithic! 30
  31. 31. If You Reach Them, They Will Spend50+ represent the largest, fastest growing, richest consumer market on the planet, and: Generate more than 40% of all disposable income Account for 50% of all consumer spending 31
  32. 32. If You Reach Them, They Will Spend50+ spend more than 2.5 times that of younger consumers 18-34, and according to McKinsey: Buy 60% of all package goods 56% of all new cars 80% of leisure travel Are more likely to switch brands than people in their 20s and 30s Are willing to experiment: purchase more hybrid cars than other cohorts Are online in large numbers and spent nearly three times the national average in online buying BUT, only 10% of all ad spending is focused on the 50+ and many marketing departments and ad agencies focus on 18-34 year olds. 32
  33. 33. Ample opportunities…are there for the taking if we are: CONNECTED Understand WHO the Boomers are! RELEVANT Create value in peoples lives! ENGAGED In how 50+ people are reimagining life 33