Lift the lid on business growth
Somewhere…someone… decided that unless you were selling retirement villages, burial insurance, ointments, blue rinse and Zimmer Frames there was no point in targeting people over 50. In fact, if you’re 50 you become invisible and it’s not doctors who pronounce you dead but marketers!
After all (so the theory goes) all seniors live exclusively on Government Super payments and they have no purchasing power whatsoever. As for being tech-savvy, seniors don’t own computers or mobile phones much less know how to navigate the Internet!
Wrong…on all counts!
Companies that don’t give a second thought to people over 50 are handing over significant business to their competitors.
The reality – marketing to people over 50 makes good business sense!
If your business offers products or services that are of interest to these people and offer quality and comfort, at least 50% of your customers should be over 50 years old. If not, you are losing some of the best paying and loyal customers there are.
People 50+ control 50% of disposable income in NZ. Nearly 1/3 of the nation controls 1/2 of spending capital!
In our youth obsessed world, very few companies understand the importance of this market:
There is a competitive advantage for those who recognise it first and a competitive point of difference for challenger brands.
The best way to develop any new market is to pick that market that your competitor is least likely to defend and build yourself around it. Since baby boomers and people 50+ are often ignored by your competition, it’s a perfect market to focus and build a competitive advantage.