ENVIRONMENT & INSIGHTS
"The Aging Dater"
Current user base AND the opportunistic present target demographic is highly educated, middle class or above financially, overwhelmingly over age 50 (will need to support the second part with other qual, but it is there.)
To better service the low hanging opportunities, research marketing to aging population for tactics.
David Wolfe, in his book Ageless Marketing, describes three stages of adult life and their relationship to experiences:
- Possession experiences – the desire for things and buying behavior (young adults)
- Catered experiences – the desire to be served by others (middle-aged adults)
- Being experiences – the desire for transcendent experiences (older adults)
Older people do not feel old, so do not patronize.
Yet, older people do not often relate to the modern reality that they live in and the macro changes to culture and society. Today, this could generation transparent and social media’s impact to human behavior. But that doesn’t mean they cannot enjoy or be involved. But they will intrinsically enjoy it slightly different than the demographics that are growing up with the changes.
For 63% of 50+ people, TV ads do not impact them or relate to them. This has more to do with the fact that TV ads target 13-45 year olds (depending on the product) as the demos with the most purchasing power (or changes).
For 63% of 50+ people, TV ads do not impact them or relate to them. This has more to do with the fact that TV ads target 13-45 year olds (depending on the product) as the demos with the most purchasing power (or willingness to spend discretionary income).
Brands must return to what made advertising great – telling a great story that engages people and entices them to learn more. Older generations will spend their money on things that connect them to the outside world, if it is easy to use and doesn’t contradict their belief/value system that is almost impossible to change as they get older.
From a 10k foot view, there are 2 “obvious” paths for JDate… focus and hone in on this demographic or expand to service general audiences in a way that
fits their lifestyle.
As consumers age and develop into their middle years toward a more actualized self, they also begin to value experiences more than material goods, and they favor products and services that fit with their goals, ambitions and desire for experiences.
Opportunities for brands lie in broad-appeal, resonant communication and reassurance that they can help their customers ‘be’ and ‘do'.
In an era when ‘being experiences’ are set to become even more important amongst an aging audience, brand experiences can differentiate products and service and transformative experiences even more. How can a brand guide consumers to achieve their aspirations – and charge for it?
Globally, the number of those aged 65 and over is growing at around twice the rate of the overall population. This age cohort is now the fastest-growing primary segment of the world’s population and its growth rate is outstripped only by that of an even older subgroup – those aged 80 plus.5
By 2030 the over 65s will account for 25% of the total consumer market (people over 16 years old).
In the UK, 65-69 year olds were said to be around half as likely to have made an Internet purchase in the past 12 months compared with 45-49 year olds. 45-49 year olds were more than five times more likely to have made an Internet purchase in the past 12 months compared to those aged 80+.
Only 2% of those 80+ had purchased goods or services on the Internet within the last 12 months.
Transaction online is difficult for JDates key audience. How can you break down the barrier to get them to become members (simple pay options) or encourage them to spend on you in a way that does not create tension over the purchase (micro-pay) and make them comfortable with the security and privacy of your system (verisign / secure accreditations). Notably, these will not be as big an issue in 20 years, but for at least the next 10, these concerns will dominate the aging population.
Ageism is another issue companies have identified as a barrier to overcome when they start targeting an older consumer population. “Ageism…exists in many areas of life and not only causes personal hardship and injustice but also harms the economy” The opinion younger people have of older people, as well as how older people perceive and talk about themselves, has a direct impact on the way older people are portrayed on television, in the media, film and advertising. The Pew Research Centre highlighted some interesting disparities among the perceptions of young and middle aged adults and those actually experiencing old age themselves.
These disparities came into sharpest focus when survey respondents were asked about a series of negative benchmarks often associated with aging, such as illness, memory loss, an inability to drive, an end to sexual activity, a struggle with loneliness and depression, and difficulty paying bills. “In every instance, older adults report experiencing them at lower levels (often far lower) than younger adults report expecting to encounter them when they grow old”48 These sorts of perceptions have a lasting influence on the public’s view of aging and older people. Negative portrayals of older people and aging can perpetuate ageist attitudes.
Read about what Nintendo is doing to capture older demographics. They grow old”48 These sorts of perceptions have a lasting influence on the public’s view of aging and older people. Negative portrayals of older people and aging can perpetuate ageist attitudes.
Never before has our planet contained so many older people— or such a large percentage of them. This has not always been the case. As late as 1930, America's older population numbered less than 7 million—only 5.4% of the population.
Today, one in three Americans is now 50 or older. By 2030 one in five U.S. residents will be 65 and older. One out of every 8 Americans is considered "old" and represent 12.9% of the U.S. population. Those age 65 and older numbered 41.5 million in 2012, a number that has continued to explode.
The U.S. Census Bureau brief on data from the 2010 Census shows seniors increasing faster than younger populations, raising the nation's median age from 35.3 in 2000 to 37.2 in 2010, with seven states having a median age of 40 or older.
Elderly Boomers Will be Different.
Boomers will be a market with very different characteristics. They exercise twice as much as previous generations. No bocci ball or badminton—no rocking chairs or vegetating in the desert sun.
They'll continue to bike, hike, swim, sail, and ski—play softball and basketball. They'll move to the mountains, beaches, islands, college towns— where the physical and intellectual action is.
A survey by Del Web showed that half of them expect to work at least part-time once they retire. And they'll want offices in their homes—with high-speed internet connections for those two or more computers, which 40% of them already own. As LeRoy Hanneman, president and CEO of Del
- Read more: http://www.transgenerational.org/aging/demographics.htm#ixzz4Hej
- G3JFH 4 Tips for Marketing to Baby Boomers in the Digital Age
Big fonts & White space are always good and appreciated, lots of jargon and slang is bad. Simple to the point and not salesy… they have experience and see through your pitch.
Journalist Tom Wolfe dubbed Baby Boomers the “Me generation” after post-WWII economic prosperity. “Self-fulfillment” and “self-realization” became narcissistic aspirations of Boomers in the ’70s. THIS IS THE OPPOSITE of the current cultural transformation and societal change to GENERATION WE and the first transparent generations.
“You want to fulfill promises with Baby Boomers,” Fishman says. “I was on the phone with a utility company that shall remain nameless for half an hour. I thought, ‘My god, if this gets any harder to do, then I am wasting my time.’ I want customer service customized for me. It’s all about me.”
Look for examples/corollaries of brands who demographics is aging and dying without new customers/consumers to replace them. Most of them disappear after awhile. Look at brands who overcame that to rejuvenate themselves. Hendricks Gin, Burberry, PBR, Buick, Converse, Old Spice, Cadillac.