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Riding the Age Wave: Will Your Club Sink or Swim?
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Riding the Age Wave: Will Your Club Sink or Swim?

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Club Industry 2012 education session

Club Industry 2012 education session

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    Riding the Age Wave: Will Your Club Sink or Swim? Riding the Age Wave: Will Your Club Sink or Swim? Presentation Transcript

    • Riding the Age Wave: Will your club sink or swim?Christine Thalwitz
    • Who are these “older adults”? Greatest Responsible Generation Generation (1901-1924) (1925-1945) Boomers (1946-1964) 50+
    • Is your company ready for the “Age Wave”? Approximately 78 million Boomers & 32 million from the Responsible Generation Within 20 years, the age profile of America will match that of Florida: 1 in 5 Americans over age 65 Boomers who are age 65 can expect to live another 17 or 18 years 80% of all the population growth between now and 2040 will be from the over-50 crowd Sources: PBS.org, “Boomer Century”, Ken Dychtwald, author of Age Wave, and U.S. Dept of Health and Human Services, Audience Insights: Communicating to the Responsible Generation (Aged 64-84) http://www.cdc.gov/healthcommunication/Audience/AudienceInsight_adult.pdf
    • Boomer Stats: Fact or Fiction? T/F: The majority of boomers are empty nesters ◦ False! Only one in four boomers fit that profile ◦ 37% still have children under 18 in the home T/F: One third of boomers are single ◦ True! And divorce rates are trending up T/F: There are more boomer females than males ◦ True! But only by a little…51% female, 49% male Source: U.S. Dept of Health and Human Services, Audience Insights: Communicating to Boomers (1946-1962) http://www.cdc.gov/healthcommunication/audience/audienceinsight_boomers.pdf
    • The Responsible Generation: Fact or Fiction? T/F: Women outnumber men ◦ True! 54% women compared to 46% men ◦ This trend will continue with increasing age T/F: More women than men influence household purchasing decisions ◦ True! 71% of women compared to 59% T/F: Make up less than 2% of the workforce ◦ False! 8% of this generation are in the workplace Source: U.S. Dept of Health and Human Services, Audience Insights: Communicating to the Responsible Generation (Aged 64-84) http://www.cdc.gov/healthcommunication/Audience/AudienceInsight_adult.pdf
    • Factors Reshaping Supply & Demand The new “old” is 80, living to 90 – 100 is commonplace Life is no longer linear, it’s cyclical with new adult lifestages: empty-nesting, caregiving, grandparenthood, retirement, mature singlehood & “rehirement” Marketing epicenter will shift from trendsetting youth to the 40-, 50- and 60-something “influentials” Sources: Interview w/Ken Dychtwald, http://jw.intelligence.com & Ken Dychtwald’s blog at http://huffingtonpost.com/ken-dychtwald
    • Root Motivators Autonomy & independence Social connectedness & relationships Altruism & responsibility Growth & experiences Revitalization Sources: Jim Gilmartin, The Parting of the Ways: Why Communicating with Baby Boomers & Senior Customers Is Different http://www.comingofage.com/wp-content/themes/coa/articles/The-Parting-of-the-Ways.pdf
    • Would you like to live to 100? 67% say yes! Biggest worries about longevity: ◦ Losing their health ◦ Being a burden on family ◦ Running out of money Benefits of longevity: ◦ Continuing to remain productive ◦ Developing deeper relationships ◦ Watching the world evolve Source: Ken Dychtwald’s blog at http://huffingtonpost.com/ken-dychtwald
    • Health Satisfaction Gaps 70 60 50 40 30 20 10 0 Very Satisfied Very Important Source: National Marketing Institute 2011 Healthy Aging Boomer Database
    • Health-related behaviors & attitudesBoomers Responsible 35 - 50% are willing to pay  50% are willing to pay anything where it concerns anything where it concerns their health their health 73% believe they should  About 40% say they exercise exercise more than they do on a regular basis 68% try to eat healthier foods  Most frequent injury is from these days and 41% consider unintentional falls (46% men their diet to be very healthy & 60% women) Source: Experian Simmons National Consumer Study as reported by the U.S. Dept of Health and Human Services, Audience Insights: Communicating to the Responsible Generation (Aged 64-84) & Audience Insights: Communicating to Boomers (1946-1962)
    • People don’t want drills, they want holes!Older adults don’t want gym memberships, they want:(fill in the blank) ____________________________What are their key emotional drivers? Needs, wants, desires, problems, fearsHow have you positioned yourself as the answer, pathway or solution?What business are you in?
    • Improve healthGet healthy & stay healthyIndependence & quality of life
    • Be part of a community
    • Look and feel good Health-oriented ◦ Embrace aging and/or Self-image ◦ Want to defy the aging process…but wisdom & experience arevalued over a return to youth!
    • Have fun
    • In club experience
    • Programs
    • Training
    • Service
    • Perceived value of the marketing mix  High Value  Personal experience  Special marketing event  Referral or recommendation from family or friends  News story or press  Research and consumer reports  Talking with a rep during the sales process  Mass media advertising  Low Value
    • The Boomer Brain Thinks big picture Values experiences over material things Rejects absolutes Is sensitive to subtlety and nuance Relies more on intuition, less on reason Is skeptical, must earn trust Processes objective information differently Wants more content than younger consumers Source: Jim Gilmartin, Tell Them a Story, http://www.comingofage.com/wp-content/themes/coa/articles/To-Increase-Sales-to-Baby-Boomers-Tell-Them-a-Story.pdf & The Parting of the Ways: Why Communicating with Baby Boomers & Senior Customers Is Different, http://www.comingofage.com/wp-content/themes/coa/articles/The-Parting-of-the-Ways.pdf
    • Spending Habitsof the Responsible Generation Generally cautious and conservative Willing to pay more for items they deem worthy Nearly 70% believe it is worth paying extra for quality More than 50% indicate that they do not base purchases on ads alone, but they do believe ads help them learn more about what is available Source: U.S. Dept of Health and Human Services, Audience Insights: Communicating to the Responsible Generation (Aged 64-84) http://www.cdc.gov/healthcommunication/Audience/AudienceInsight_adult.pdf
    • Tell a story http://www.youtube.com/watch?v=xXrMzOnz-fY&feature=share&list=UUu4s1wmtCITLyYbTpTxupVg
    • Testimonial http://www.youtube.com/watch?v=NFeb6rk2TtU&feature=share&list=UUu4s1wmtCITLyYbTpTxupVg
    • PREP program ad http://www.youtube.com/watch?v=zTgUEDNZscM&feature=share&list=UUu4s1wmtCITLyYbTpTxupVg
    • Design considerations Font ◦ Serif or Sans Serif ? Size, Size, Size Spacing Inset paragraphs can help the reader focus on important points or lengthier sentences. Colors Count
    • Image is everything!
    • More on images “It’s a sensitive zone, because how does one communicate with people at different stages of life in a way that allows them to feel spoken to and respected, celebrated, but not necessarily put into an older age bucket? “A lot of people who are 60 and 70, they listen to the language, look at the models and look at the ads, and they feel offended. That’s Marketing 101: Respect your customer. Marketing 102 is ‘Celebrate your customer.’” Source: Interview w/Ken Dychtwald, http://jw.intelligence.com
    • “Transgenerational marketing”
    • Advertising & Promotions Simplify Less is often more Make it meaningful Consider the medium Give the user autonomy Remember the call to action!
    • How to LOSE the sale Rattle off lists of benefits and features Neglect to build a relationship Push information rather than responding to pull signals Speak quickly Jump from topic to topic Fail to ask open-ended questions Treat older adults as part of a single “senior market” Embellish and hype Stress self-indulgence
    • Older Adults & Social Media 53% of American adults ages 65 & up use the internet or email and of those online users, 70% go online in a typical day Seven in 10 seniors own a cell phone One in three online adults use social networking sites like Facebook and LinkedIn #1 reason for use = stay connected with family Source: Pew Internet Research, http://pewinternet.org
    • Celebrate their success
    • Connect them to the community
    • Feedback
    • Thank you. Christine Thalwitz christineot@acac.com