What To Get 74 Yr Old Man Who Has Everything Five Common Misconceptions About Marketing to Seniors

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Five Common Misconceptions About Marketing to Seniors

With all the potential markets, why would anyone want to sell to the bigwigs, anyway?

Others consider them “losers,” labeled as too old, too disabled, too ignorant or too careless. While the monikers may apply at times, it’s surprising how wrong those assumptions are when you look at the reality of today’s consumer spending environment despite a struggling economy, housing crisis and unemployment at the worst levels in decades.

All of a sudden, seniors seem very attractive to some, if not all, retailers because of a few key points:

Misconception #1: Senior citizens are inferior

Facts: As many as 76 million children in the United States are now 65 years old, making for a large number of older adults. As of Feb 6, 2011 New York Times The issue of aging, the new elderly people are different from the previous generations, they expect to live longer than before – a period of twenty years. Globally, the proportion of people aged 65 and over will more than double, from 523 million to 1.5 billion by 2050, according to United Nations estimates. The US Census Bureau reports that there are more women than men nationwide, with the Northeast leading the gap, as well as having the largest number of people aged 65 and over. While many people are delaying their retirement to find a steady income, those who choose to retire will have so much time on their hands that the only salvation is to stay busy. And to extract truth from reality, being busy means that the elderly will be the largest market in the country, too big to ignore and too available to be taken away.

Misconception #2: Seniors are very old, tech-savvy and computer-obsessed

Facts: With the “senior citizen” defined as someone who has reached old age, (however, much to the amusement of this writer, who is still described as “old” in some dictionaries), the majority of the baby boomers will be the younger group (65-74 years old). until the year 2034. It is a good twenty years that entrepreneurs can benefit from. Baby bombs aren’t just some wallflowers who are intimidated by the prospect of going out dancing. Indeed, these are our resourceful, forward-thinking, mature and experienced movers and shakers who have been participants in, if not the initiators of, modern lifestyles most of their lives. Unwilling to stop gathering, these are connected people who know the problems of society and Google rankings, who participate and are irritated by the political movement and international events, and are concerned about the collapse of jobs and foreclosures. These are the consumers who are most aware of the risk level.

Misconception #3: Senior citizens are too “cheap” to spend any money

Facts: Seniors are the biggest spenders these days. According to figures from the Bureau of Labor Statistics’ Consumer Expenditure Survey, in 2009 about $2.6 trillion was spent by families raising children in the United States. This has increased 45% year over year as measured by a Gallup poll published on June 10, 2010. New York Times article by Catherine Rampell, entitled “Who’s Ruining Again? The Rich and the Old.”

Although it is true that the elderly tend to be more careful about their preferences and not save well when choosing, it is also true that their spending habits are very much influenced by the wants and needs of those who are important to them: their children, grandchildren, and elders. grandchildren. For example, if the child of an elderly person has lost his job and is no longer able to support his family to the level of comfort he had before, the grandmother will not see him suffering. Many American adults have welcomed the younger generations back into their homes and are now spending more to keep themselves fat and happy, so to speak.

But there is another reason why the elderly relax the hard cords on their eggs which are usually very large. Recent gains in the stock market affect the perception of retirees who have money, even if the money comes from a bond- or annuity, making them think they are rich. Add this feeling to the idea that the elderly may think that life is too short and it’s time to get lost before it’s too late. Buoyed by years of financial success now thanks to Social Security benefits, some of these seniors have more options and are planning to live a luxurious life before it’s too late.

What does that mean? It means vacations, cruises, luxury cars, and shopping for home entertainment. It means shopping for clothes, jewelry and gifts for children. It means destroying hair and nails and plastic surgery and a new smile. It means eating and going out to have fun. All frequently. Once they start, it’s hard to stop.

Misconception #4: Senior citizens have no brand loyalty

Facts: Adults show more loyalty than people of today’s generations who tend to be fickle, wandering from one thing to another at the drop of a hat. While fashion, trends, and social influences lure young people from one product to another, adults are seen as important as consumers, according to the September 26, 2007. New York Times Matt Richtel’s article on “Sticky Old People.” An adult takes time to consider a decision carefully and sticks to that commitment for a long time as a rule.

Although the elderly have a lifetime of knowledge to draw from, a wealth of knowledge about many topics, and valuable skills to represent a variety of professions, such wisdom is viewed and stored elsewhere in today’s rapidly changing world. First, old age tends to cause forgetfulness and memory loss. Second, in relation to the availability of information, Google provides answers to everything and everything in a matter of milliseconds, not a small part of an adult (or anyone else for that matter), regardless of how smart or successful they may be. Finally, the skills that adults have mastered are for things that we no longer need or use, such as yesterday’s engines or old-fashioned entertainment devices, for example, that have been replaced by advanced wireless computer technology. Even if the elderly have kept up with every technological development over the years, their motivation to retain knowledge of such changes after they retire is greatly reduced, as is their retention. The younger one is limited here.

Misconception #5: Senior citizens don’t buy anything unless there’s a discount

Facts: If there is one thing that the authorities have complete control over, it is the healthcare market, discounts or no discounts. No one buys health-related products more than adults, making them the most valuable market for businesses in the industry, bar none. Aging, naturally, brings difficulties with balance, dexterity, independence and mobility, as well as sensory and memory management. Some of these encourage social distancing. Industries that help protect the elderly from physical and mental damage can only hope to reap the benefits of their product and marketing efforts. However, it is clear that the prospect of investing heavily in the creation of products that will help make this happen, is causing fear in companies that are about to make a profit. The reason is that the mass market is still an unproven sector, not showing that it will buy new technologies that preserve health and well-being even if there is a need to do so. Instead, companies like Ford Motor, which has a hands-free, parallel parking system that supports the need for neck pain relief (the perils of old age), including blind spot detection and voice recognition systems, should be comforted. their ability to sell to a wider market, not just looking for the odd executive to make things work.

In the course of writing this article, I ran into a local non-profit organization called “Aging in Place” that said it needed a marketing plan to help increase paid membership. Aging in Place is a concept used by large national groups to describe efforts to help the elderly remain in their homes for a long time, while receiving help from various external sources, if necessary, to find ways to solve any problem or face a problem . This may include medical, social, financial or nutritional support, to name a few.

At the same time, many housing development companies across the country have accepted the idea that building a comfortable living or retirement environment that incorporates the latest technologies to monitor the health and safety of residents, as well as social spaces, restaurants, entertainment, fitness and sports, and a safe bet for big sales.

Of course any event makes sense as long as all marketers answer the age-old question: what is the best way to reach a large audience? Or, the question instead, how to reach the children of adults? Although the options remain the same as when you are trying to reach the entire market, all of which are expensive when the number of unknown answers is always possible, there are ways to show the authorities and other ideas wisely. Think old fashioned if you want old people; Consider reaching out to the older “younger” newborn or her older children. In many ways, traditional refers to advertising in daily newspapers; on television; or supporting advertising and live presentations and presentations at community or religious gatherings and events. Organic marketing can mean using the Internet to reach high tech executives through an email campaign; or ads that are offered to accompany relevant Google searches, so you don’t touch the tip of the potential. Perhaps the best way to go to an adult of any age is through his postal address, lists that can be purchased by choosing the age including the gamut of other sectors that may be suitable.

And as with any business, one effort may not be enough. A different approach and multiple attempts are often the ones that give the best results, being careful to test the response in each method. But remember one thing. Adults have been abused more often than we care to admit. While some may be at the risk of becoming helpless, others are more cautious, not relying on any sales they get!

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