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How To Successfully Market To Mature Consumers
The general population of the United States is maturing, and businesses are compelled to adapt to this ageing demographic. Nowhere is this more apparent than in the marketing industry, where precise targeting of specific consumer groups is essential for success.
The key to successfully marketing to any particular consumer group exists in developing a keen understanding of the prospective segment. When marketing to mature consumers over fifty, specific insights and consumer knowledge must be applied to guarantee a profitable return on investment.
What follows are three key points to consider when launching a senior marketing campaign.
Identify the audience segmentation
- Just who are the seniors of today, and what does that market look like?
- Are they blue-haired grannies knitting on the front porch while in their rocking chairs?
- Are they active retirees travelling around the world with friends?
- Or, are they mature workers contributing daily to the economy and their employer's bottom line?
There are several senior markets, and life stage segmentations are created in response to the products and services offered to each market. For mature consumers, these life stage groupings can be broken down as pre-retirees (aged 50 to early 60s), active retirees (aged over 60 through mid-to-late 70s), and seniors/matures (aged older than the oldest active retiree).
These consumer segments may be sub-divided further by geography, income, and/or lifestyle preferences and needs. A successful marketing plan will put these considerations at the forefront of campaigns.
Think like a senior
Customer service representatives and salespeople are often the first point of contact many seniors have when they are about to purchase. But when they are in the consideration stage, it is the product offering that catches their initial attention. Whether this comes in a phone solicitation or a televised advertisement, it is vital to think like a senior when making a sales pitch. By thinking like seniors and directly addressing their interests, sales and marketing efforts can be maximized.
A good rule of thumb for marketers is to get inside the head of prospects and understand their needs and wants. Focus groups, user surveys, and demographic research are just a few methods marketers can use to gain insights for better positioning a product or service for mature audiences. Knowing how to think like an older person may be one of the most crucial elements of a successful marketing campaign.
Respect the mature self-image
Today's older citizen is a new breed. Market research reveals that a growing number of mature consumers have healthy self-images and do not see themselves as "old" when they reach traditional retirement age. Many do not even refer to themselves as seniors.
The over 50 age group, for the most part, view themselves simply as "older adults," feeling as much as 15 years younger than their chronological age.
A majority of pre-retirees and seniors/matures enjoy improved overall health and the desire to remain physically active and independent. Though they are realistic enough to know they are no longer young, they continue to feel and act young. They also want these self-perceptions reinforced in media. These older Americans are often optimistic about ageing and will respond favourably to advertising that reflects and respects their positive self-view.
Don't underestimate the mature market
Too many marketers err by under-estimating the intelligence and savvy-ness of the mature market. Too many young marketers believe there is only one criterion for ageing—one based on outdated ideas.
Today, ageing is defined by self-acceptance and offended participation in all aspects of life. It is the responsibility of astute marketers to hone in on valuable insights into the mature market for profitability and gain.
About the author
Bianca J. Ward used to be an HR manager, but now she is a professional essay writer at EssayWriterFree, where she provides people with qualitative works. Besides, she is a passionate photographer and traveller who has visited 52 countries all over the world. Bianca dreams about creating a photo exhibition to present her works to others.
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If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts on seniors.
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