Grow Your Brand With This Growing Population
Author: Tim Burke
Unless you’re a marketing director for a brand like Liquid Death, chances are you’ve thought about how to advertise your product to an older demographic.
Afterall, U.S. households headed by people 55 or older hold over 65% percent of the country’s total wealth. That’s a fat wallet. Baby boomers have an average net worth of $1.7 million. McKinsey Global institute has predicted the 60+ population will generate half of all urban consumption growth in developed countries. Plus, they are living more active, youthful lives than ever. Seniors are also big consumers of content, watching over 7 hours of TV (streaming and linear) and listening to an hour of audio daily. This potent combination creates a favorable landscape for many brands to drive growth.
As an agency with a healthy history of advertising to seniors, here are a few considerations on how to best engage and connect with this often-overlooked audience:
Watch out for stereotypes.
With seniors, it’s easy to jump into the stereotype pool. It could be going too fantastical with the Extreme Senior stereotype. You’ve likely seen it in ads where grandpa is climbing El Capitan. Grandma is at Thursday Night Axe Throwing. And all their friends are dabbling in skydiving. While plenty of seniors are trying out new activities, many won’t relate to this exaggerated portrayal. In fact, in a 2021 AARP Survey, 62% agreed, “I wish ads had more realistic images of people my age.”
On the other side of stereotypes, there’s the “Out of touch” portrayal. Advertisers often treat seniors like they’re lost, vulnerable or stuck in a time warp. Whether it’s a technology gag, a cranky old-school thinker (old man yells at clouds!) or a portrait of feebleness, these are all ways to turn this audience off. While there could be strains of truth in your depiction, the question really is: Do you want to engage your audience this way?
While you can’t please everyone (that’s impossible), being authentic and relatable with seniors will go a long way. Dialing up a stereotype will likely result in the ad feeling contrived, or worse, offensive.
Be clear with your message.
I remember years ago being at a focus group where seniors were weighing in on new creative concepts. One man quietly watched an ad and then very sincerely responded, “I really appreciate how it explains what I need to know.” Surprisingly, he had quite an emotional reaction to very rational information. I think one thing that’s clear is that seniors, more than the average consumer, are practical and prudent shoppers.
While this does not mean you should avoid emotion or entertainment, it simply means you should lean into education and information. It’s also a common marketing misconception that seniors’ buying habits can’t be changed. The fact is, they just need a good reason. Getting seniors to understand your product’s value is how you’ll get them to modify behavior and/or take a chance on what you’re selling.
Focus on attitudes and aspirations, not age.
For any age grouping, there’s no one-size-fits-all marketing strategy. This applies to the senior audience, too. So go beyond simply appealing to age. Think about how your product can speak to the different needs and wants within this target. One segment of the age group may be focused on seeking new adventures, while another is fixated on protecting their future. When you make your message about their needs, not their age, you’re more likely to make the connection you want.
Older demographics have forever been forgotten by brands. Whether it’s the stigma of age or simply the attention to the upcoming wave of consumers, it’s time for every brand to re-evaluate this pattern. As stated above, the financial power of this audience speaks for itself. We also can’t ignore the spirit and vitality these “old folks” have. I recently watched a 73-year-old Bruce Springsteen play 3 relentless hours at Wrigley Field. Last winter, my wife’s aunt launched her hockey career at age 74. And countless others (grey hair, wrinkles, and all) are out there making the most out of this stretch of life. Brands should embrace and celebrate it, not flee from it.
For more on marketing to seniors, here are a few interesting articles: