"A Wrinkle in Time," WWII, iPhones and Pro Wrestling: The Senior Demographic and Your 21st Century Business

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"A Wrinkle in Time," WWII, iPhones and Pro Wrestling: The Senior Demographic and Your 21st Century Business

Posted by yoni67 under Marketing
From http://jobshuk.com 5089 days ago
Made Hot by: stillwagon428 on June 17, 2010 4:16 pm

The world's population is "greying!"

Seniors now represent the fastest growing demographic. People are living longer and spending more on goods and services.

Is your 21st Century business prepared to do business with Granny and Pappy?

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Comments

Written by m4bmarketing
5088 days ago

Hi Yoni,

The simple answer is age is just one factor and not the most important. What you do is find the common elements, characteristics, attitudes, behaviour etc. Then your message, communication and everything else is tailored to the core target market.

Usually you will find there is a primary group of people that you focus on and a secondary group that has many of the characteristics but are not as important as the first. With the primary group who are going to buy more of you stuff than other groups, tailor all aspects of your product, service, pricing, communication etc to make sure all is in line with their perceptions and expectations.All other people you ignore.

The way you find out is to do research and include your competitors.

There are many approaches to take, but it does come down to understanding and knowing your customers before you try communicating.

I am not sure I have answered your question and if I haven't let me know and I will email you an example. I can't add it here as it would be too long.

Thanks for your questions Yoni.

Susan

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Written by yoni67
5088 days ago

Susan,

You have done a wonderful job! It's one of the reasons I love BizSugar and your Marketing insight in particular.

I did have a few biz courses in college among my Psychology major courses. I had Biz Law & Ethics and Biz 101. I signed up for a Marketing course one summer, but there the problem began. It was an 11am course and by that time all of my friends were clad in bathing suits heading off to nearby Cheat Lake (Morgantown, West Virginia). I was a bad boy; I dropped the course, choosing instead a summer filled with sun, swimming and beer. Oh, the things we could change if we could turn back the clock.

Thanks as always for your wonderful views and thoughts!

Yoni

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Written by m4bmarketing
5089 days ago

Hi Yoni,

It is great your blogging is bringing in business. You are right everyone needs to refine who they target.

The one mistake many of us do is to not adapt our product or services to the people we want to target. For example if you are getting enquiries about memoirs and you want their business, then perhaps write samples that are applicable to them, in their language, tone etc, instead of showing them material that will not appeal to them.

A blog may not be appropriate, I do not know, but how about finding out more about them, where they hang out, their interests etc and then you can choose the tactic and mesages to suit. As a way forward why not call a few who appraoched you and talk to them to find out more.

Of course if you do not want their business then continue what you are doing.

If you need any help let me know.

Susan

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Written by ShawnHessinger
5089 days ago

Yoni,

Great observation but I think it's important to remember, as Susan suggested, that this demographic is no more uniform than younger ones and that it is probably a mistake to market to age groups and demographics anyway. Better to market to the passionate in any demographic...and across them. Think of the slow media movement and the uncanny survival of a small but vital vinyl record market in the midst of the digital age. If I go to my favorite local specialty vinyl record store one might assume I would only encounter seniors uninterested in CDs or iTunes and a music selection pitched exclusively to their tastes. Of course, I don't. Instead, the store is a unique environment where seniors buying old jazz and classical along with selections from their particular generation mingle with young punks sporting shocking hair colors and tattoos looking for a rare pressing of a more recent underground sensation. And there are, of course, the DJ's and rare record collectors of all ages for whom these records are special simply because they reflect a unique and potentially disappearing medium or because of an eccentric preference for analog sound. But they all have one thing in common. A love for vinyl records. Have you read any Seth Godin, yet, Yoni? Market to the niche or the otaku (obsession), not to the demographic. It's just a distraction.

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Written by yoni67
5089 days ago

Shawn,

Thanks for your wonderful insight, wisdom and viewpoints! Your "vinyl" observations are right on the mark!

I'm told the book will take 7-10 days to arrive.

I must express to you and Susan how valuable your inputs are: in this article and in so many other subjects and topics. This is why I frequent BizSugar. I am learning through "osmosis!" I am a writer without a lot of biz experience. Mostly what I do is observe and put pen to paper. Here at BizSugar I can lean on and learn from those with real experience, training and who have succeeded in areas which I know nothing about. When I wrote the article about getting a Degree from BizSugar it may have seemed toingue-in-cheek, but it wasn't for me.

So valuable and far-ranging are the lessons I am learning here!

With much appreciation,

Yoni

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Written by m4bmarketing
5089 days ago

Hi Yoni,

Businesses have been trying to tap into this older group for years. The successful ones realise not to label them. Rather they understand their attitudes and behaviour and deliver products and services based on that knowledge not on an age basis.

Interesting stats Yoni.

Susan

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Written by yoni67
5089 days ago

Susan,

Part3 was sure to follow, so here it goes! As a marketing pro (you, not me :) how do you appeal to diverse groups, in this context, age. On television and on the web, everything seems so frenetically-pace, "in your face" and hip! I realize that things geared specifically toward seniors have a different approach. But when you are marketing generally, you can't be all things to all people. It seems you either have to choose laid-back or a more hip approach. McDonals ads show a lot of "rapping", sports stars and a modern hipness. They could also add content that it is a relaxed place for seniors, but that would create an impression which seems disingenuous and contradictory. It seems there is a catch-22. It seems to be a perplexing dilemma. I'm interested in your insight and suggestions :)

Yoni

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Written by yoni67
5089 days ago

Susan,

as a second follow-up reply: I think maybe I have become too comfortable with my blog. It's working too well! My marketing approach has really been sit back and wait for people to come knocking, which they are doing much of. It has made me be less than pro-active. When older folks, mostly the "memoir" crowd come knocking, they ask for writing samples. I show them my blog and also my published works: poetry, fiction, etc., which also tends to be somewhat avant-garde, over the top and modern. It has turned most of them off. It's made me realize that I can't be everything to all people. My experience and ways of thinking and expressing myself are too far removed form those of an older crowd. By the way, Rivkah's grandparents (mine are deceased) HATE my writing :)

Regards,

Yoni

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Written by yoni67
5089 days ago

Susan,

Thanks for your valued and valuable response!

The world is greying at a rapid pace. I have no real marketing approach rather than my blog and website. The blog now accounts for about 90% of my business: about 95% of which is the 30-50 year old crowd. I have had quite a few comments from the older crowd (70-85), who mostly when they have come calling to me are seeking assistance with memoirs. Feedback from them after viewing my blog has been mostly negative, ranging from dislike to being appalled!

You are 100% right not to label people, groups or demographics. I guess my dilemna is in understanding the attitudes. I could write two blogs, a toned-down, genteel version and also my regular one which can be whacky and over-the-top sometimes, but that would make me tired! I too am aging!!! By the time even the first of the statistics comes to fruition I will be a senior myself :)

Thanks as always for your wonderful feedback. I truly value your insight into and knowledge of marketing, something I don't have. I tend to improvise sometimes.

Yoni

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Written by yoni67
5089 days ago

Thank you so much for your kind compliment Ajay!

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Written by ajayjoya
5089 days ago

excellent post, Greetings from me to post such unique articles. Thanks

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Written by goldenyears
5089 days ago

I am sending this link to AARP. Thanks!

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Written by yoni67
5089 days ago

Thanks, I appreciate the kind gesture!

Yoni

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Written by yoni67
5089 days ago

Heidi, Shep and Devon,

Thank you so much for your support. I appreciate each and every one of you following me from JobShuk to BizSugar! Thanks for your valuable and much appreciated feedback on today's post!

With gratitude,

Yoni

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Written by 9devon9
5089 days ago

Yonatan as two old timers ourself Al and i loved this article and we do prefer the good old days! Devon

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Written by shepherd
5089 days ago

Yoni,

Excellent post on an often times forgotten demographics. How you can take a subject like the elderly and make it so exciting is what makes you so unique!

Shep

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