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Actual for You - THE COMING GERIATRIC INVASION: The Aging of the American Marketplace
Cooking isn't much different than building a business. You have the basic ingredients all laid out on the counter and if you put them together in the right way - you have a nice meal to nourish your heart, body, and soul - and the pocket too. With a little creativity, it even comes out looking pretty too.So, what ingredients do you need?For a recipe?o some meato some veggieso some substanceo something to hold it all togethero some flavoro some people to serve it toFor a business?* some product* a little variety* a marketing method* a business plan to put it all together* a presentation* some customers to buy the productWith the recipe you need to cook up the meat and add
Categorizing and recognizing these three segments is only half the battle. The other half involves really digging into the backgrounds and needs of the market filling those sub-segments. As the Baby Boomers get older, the rules for marketing to any given age group are changing. Just as the Boomers rewrote the communications instruction manuals for 20 to 40-year-olds, today they are changing how we view 50-year olds. Tomorrow, it will be the 60- and 70-year olds.
RELATIONAL MARKETING
No serious marketer should consider approaching the Mature Market unle
Most of us think of business cards as just a written reminder of someone’s contact details. They can become more than this with a little imagination. Think of these cards as being a useful means of advertising your business. They are relatively inexpensive to print and light to carry around with you.Think about what you can print on the backs of the cards which are normally left blank. This space can be used to advertise your business whatever it is. Think about starting off with a small map of the area where your premises are situated printed on the back of the card. This should be done when you have first launched your business.After a while progress with special offers that will make the recipient of your card want to come and see for themselves what is going
But something else is happening on a daily basis and it is no respecter of businesses. It has been effecting marketing trends at a very slow and steady pace, well... from time in memoriam. What is this trend? It's the WRINKLING of America.
One need not pour over demographic surveys in order to detect this change. Frankly, a quick look in the mirror is all it takes for most of us. One look at today's advertising messages can be very revealing as well. Anti-aging, wrinkle disguising lotions, white haired, flat-bellied couples walking hand-in-hand along the beach, mature spokespeople giving us that "been-there-done-that-try-it-THIS-way" look that inspires trust. Prescription pharmaceuticals, too, are everywhere, enough to make you sick!
Experts expect that, in the next decade, the under-50 crowd will increase 1.5%. At the same time, the over-50 population will increase 41%. Many marketers are concerned about which segment they should be gearing the majority of their advertsiing dollar. My opinion? Unless your marketing is geared toward those who are genuine children in comparison (school kids, college kids, recent college grads), ALL marketing will have to take the needs of our maturing adult society into consideration. As an old school ad writer myself, if I were trying to market to this group, I'd be writing with empathy, asking older people what THEY want and need. If they needed a car with a lower threshold, I'd design one. An inexpensive computer with huge keys? Consider it done. Valet or covered parking? Give it to 'em! Earlier hours? A special menu? It will be worth the investment. WHO ARE THESE PEOPLE?
For starters, they're my parents, a couple of wonderful over-70 individuals who just moved into town. They're also 'me' as I am getting closer to 50 than 40 with every second. Aside from brief annual visits and a weekly phone call or eMail, I haven't really observed my folks as they've matured over the past 25 years. When did this metamorphosis occur? In the two months that they've lived here, I can tell you from personal, up-close and personal experience, they're different. But so am I.
Marketers beware: There is no single "Mature Market." To be effective, one must understand which sub-segment we're targeting and the specific needs and desires of the group that makes up that segment. What do I mean? Let me explain...there are three major sub-segments of the Mature Market. These include:
* Pre-retirees: Age 50 until retirement at about age 62.
* Active retirees: From retirement until the mid-70s.
* Seniors: Though we used to call anyone over 50 a "senior," that term has no application until at least the mid-70s these days. We must recognize "senior" as a state of mind rather than a chronological curse. In other words, "they" aren't all the same.
Categorizing and recognizing these three segments is only half the battle. The other half involves really digging into the backgrounds and needs of the market filling those sub-segments. As the Baby Boomers get older, the rules for marketing to any given age group are changing. Just as the Boomers rewrote the communications instruction manuals for 20 to 40-year-olds, today they are changing how we view 50-year olds. Tomorrow, it will be the 60- and 70-year olds.
RELATIONAL MARKETING
No serious marketer should consider approaching the Mature Market unles
Who doesn’t want a credit card merchant account! This special service allows you to process credit card payments from your clients in a number of ways that can help to speedily grow your business. A merchant account has been known to double or triple business profits in a relatively short amount of time, so only if your company is poised for growth should you consider this exciting opportunity.If you currently work with a bank that you trust with your business concerns, ask about the possibility of applying for a credit card merchant account. Most companies are eager to welcome this type of business from customers they know and trust. As long as you have established a solid business credit history, pay your bills in a timely manner, and aren’t involved in questionable or une
Experts expect that, in the next decade, the under-50 crowd will increase 1.5%. At the same time, the over-50 population will increase 41%. Many marketers are concerned about which segment they should be gearing the majority of their advertsiing dollar. My opinion? Unless your marketing is geared toward those who are genuine children in comparison (school kids, college kids, recent college grads), ALL marketing will have to take the needs of our maturing adult society into consideration. As an old school ad writer myself, if I were trying to market to this group, I'd be writing with empathy, asking older people what THEY want and need. If they needed a car with a lower threshold, I'd design one. An inexpensive computer with huge keys? Consider it done. Valet or covered parking? Give it to 'em! Earlier hours? A special menu? It will be worth the investment. WHO ARE THESE PEOPLE?
For starters, they're my parents, a couple of wonderful over-70 individuals who just moved into town. They're also 'me' as I am getting closer to 50 than 40 with every second. Aside from brief annual visits and a weekly phone call or eMail, I haven't really observed my folks as they've matured over the past 25 years. When did this metamorphosis occur? In the two months that they've lived here, I can tell you from personal, up-close and personal experience, they're different. But so am I.
Marketers beware: There is no single "Mature Market." To be effective, one must understand which sub-segment we're targeting and the specific needs and desires of the group that makes up that segment. What do I mean? Let me explain...there are three major sub-segments of the Mature Market. These include:
* Pre-retirees: Age 50 until retirement at about age 62.
* Active retirees: From retirement until the mid-70s.
* Seniors: Though we used to call anyone over 50 a "senior," that term has no application until at least the mid-70s these days. We must recognize "senior" as a state of mind rather than a chronological curse. In other words, "they" aren't all the same.
Categorizing and recognizing these three segments is only half the battle. The other half involves really digging into the backgrounds and needs of the market filling those sub-segments. As the Baby Boomers get older, the rules for marketing to any given age group are changing. Just as the Boomers rewrote the communications instruction manuals for 20 to 40-year-olds, today they are changing how we view 50-year olds. Tomorrow, it will be the 60- and 70-year olds.
RELATIONAL MARKETING
No serious marketer should consider approaching the Mature Market unle
An intellectual is a man who takes more words than necessary to tell more than he knows. Dwight D. EisenhowerHave you ever thought what makes one manager better than another? It might start with his or her credibility. Good values give leaders credibility. Today’s politicians argue about God’s political affiliation. Politicians promote values like they were Nike shoes. As a result, Americans are now cynical their leaders.Let’s examine this matter closer. In 1998, President Clinton was caught in a vicious sex scandal. Clearly, it was a national disgrace. There was a circle of low character issues, including adultery, lies, and betrayal. His opponents gleamed at the possible political advantages. However, the results were different than expected.A
For starters, they're my parents, a couple of wonderful over-70 individuals who just moved into town. They're also 'me' as I am getting closer to 50 than 40 with every second. Aside from brief annual visits and a weekly phone call or eMail, I haven't really observed my folks as they've matured over the past 25 years. When did this metamorphosis occur? In the two months that they've lived here, I can tell you from personal, up-close and personal experience, they're different. But so am I.
Marketers beware: There is no single "Mature Market." To be effective, one must understand which sub-segment we're targeting and the specific needs and desires of the group that makes up that segment. What do I mean? Let me explain...there are three major sub-segments of the Mature Market. These include:
* Pre-retirees: Age 50 until retirement at about age 62.
* Active retirees: From retirement until the mid-70s.
* Seniors: Though we used to call anyone over 50 a "senior," that term has no application until at least the mid-70s these days. We must recognize "senior" as a state of mind rather than a chronological curse. In other words, "they" aren't all the same.
Categorizing and recognizing these three segments is only half the battle. The other half involves really digging into the backgrounds and needs of the market filling those sub-segments. As the Baby Boomers get older, the rules for marketing to any given age group are changing. Just as the Boomers rewrote the communications instruction manuals for 20 to 40-year-olds, today they are changing how we view 50-year olds. Tomorrow, it will be the 60- and 70-year olds.
RELATIONAL MARKETING
No serious marketer should consider approaching the Mature Market unle
Most people find financial statements identical to a foreign language. To ensure that financial statements are easier to understand, there is a set of rules and practices known as the generally accepted accounting principles (GAAP). Development of these rules provides a basic guideline accounting because I think it’s fair to say that it can get obtuse at times. There are a lot of variations to the meaning so here is the best answer. It’s the generally accepted accounting rules and procedures that are necessary to define accounting practice. Basically it’s a set of theories that accountants come to accept, and controversies are lively with some methods between accountants.Accounting is a discipline that is always growing and changing so that better measures of performance c
Marketers beware: There is no single "Mature Market." To be effective, one must understand which sub-segment we're targeting and the specific needs and desires of the group that makes up that segment. What do I mean? Let me explain...there are three major sub-segments of the Mature Market. These include:
* Pre-retirees: Age 50 until retirement at about age 62.
* Active retirees: From retirement until the mid-70s.
* Seniors: Though we used to call anyone over 50 a "senior," that term has no application until at least the mid-70s these days. We must recognize "senior" as a state of mind rather than a chronological curse. In other words, "they" aren't all the same.
Categorizing and recognizing these three segments is only half the battle. The other half involves really digging into the backgrounds and needs of the market filling those sub-segments. As the Baby Boomers get older, the rules for marketing to any given age group are changing. Just as the Boomers rewrote the communications instruction manuals for 20 to 40-year-olds, today they are changing how we view 50-year olds. Tomorrow, it will be the 60- and 70-year olds.
RELATIONAL MARKETING
No serious marketer should consider approaching the Mature Market unle
In today's competitive world of business, it takes moxie and pizazz to sell a great product, idea, or service. This list will provide you with ten unusual and creative marketing strategies which will help you to stand apart from the competition and to increase your visibility.1. Celebrate the Wacky World Holidays with your Clients and/or Customers.Did you know that August 17 is Number 2 pencil day? Send your clients Number 2 pencils with your name and logo embossed on the pencils. What about Homemade Pudding Day on September 19? Send your clients and customers your favorite pudding recipe, and invite them to your business to sample a “taste.” If you are the owner of a toy store or a children’s clothing company, you may want to set aside November 18 to celebrate Micky
Categorizing and recognizing these three segments is only half the battle. The other half involves really digging into the backgrounds and needs of the market filling those sub-segments. As the Baby Boomers get older, the rules for marketing to any given age group are changing. Just as the Boomers rewrote the communications instruction manuals for 20 to 40-year-olds, today they are changing how we view 50-year olds. Tomorrow, it will be the 60- and 70-year olds.
RELATIONAL MARKETING
No serious marketer should consider approaching the Mature Market unless he or she is ready to enter into a relationship with them. Few successful marketers enter this arena with a single-sale mindset. Although, as George Burns quipped, at their age, many may not even buy a green banana, believe it or not, the key here is in understanding that the Mature Market is most likely to be interested in a longer-term relationship.
So, what about relational marketing? Much of that relationship is based upon written materials and, especially in the active retiree and senior crowds, where your prospects have the time and interest to read what you write, that is, if it's truly interesting to them. Relational marketing for the mature should be based on new information and knowledge. This market wants to learn new things about the world. So, give it to them. With fewer words and larger type if necessary.
The mature consumer is wise enough to know that they have many choices. They are the grapefruit squeezers among us, least like to buy everything that's being sold to them. They will do research, talk it over with friends and ask questions. Many are living life in a daily survival mode and are quite cautious. They will not do business with you if you patronize them or don't supply the answers. Heaven help the business that fails to offer the level of customer service they grew up on - or the kind they themselves provided to others "back in the day." With this group, you shouldn't try to "hype" or over-promote. They won't fall for it. Though it may lead to an occasional short-term sale, ultimately, it will negatively impact your bottom line.
Oddly enough, there may be some companies who will mistakenly say, "We need not concern ourselves with the Mature Market. They buy the same things everyone else." Au contraire! Though the 50-plus population wants to be treated like anyone else - for who among us wants to be categorized as "old"? - their actual physical and emotional needs are different.
You, as a marketer, should make yourself aware of what makes this market tick and should plan new products, services and communicative methods for capitalizing on the unique differences. Perhaps, by doing so, you will be able to capitalize on the power of the group that holds 77% of all America's assets today, whose disposable income doesn't peak until almost the age of 70 and who truly desires to hear from you - so long as you aren't wasting their increasingly precious time.
They're coming, headed toward you as quick as they can get there, with several bathroom stops along the way.
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