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Every 7.7 seconds someone in the United States turns 50.
The 50+ population controls more than $7 trillion in wealth and is
responsible for 50% of all discretionary spending. It purchases 41% of all
new cars, buys 80% of all luxury travel, and is 30% more likely to purchase
products online than younger users.
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Yet, internet marketers often miss this rich potential market.
Perhaps they don't think older people are on the web. However, older
adults are often more "wired" than we think. Many seniors are
coaxed into going online by their children or grandchildren. But, once they
have logged on, many become eager Internet users. Plus, internet use is high
among those over 50 who work and have college degrees.
Indeed, this group is more likely than younger Americans to be online on
a typical day. Wired seniors say it has helped them connect better to loved
ones and makes it easier to get information.
So, how do you reach them? First, recognize that the over 50 crowd are
not all alike. They are more diverse than any other market segment, spanning
those at the peak of their careers, to active, independent seniors, to the
elderly in need of care.
Here are some clues to communicating with and ultimately selling to the
new mature market.
1. Do not talk
down to, or treat them as children,
or remind them of their age. Most do not consider themselves
"old."
2. Although there is disagreement about using words like "senior
citizen," reserve such terms for World War II veterans,
but not for the leading edge of the baby boomers who started turning 55 in
2001.
3. Use
realistic but positive images of mature people.
Show people with wrinkles but have them doing something active.
4. Stick to the
facts about your product or service.
Mature people make more independent judgments and base their decisions on
information rather than peer pressure.
5. Design your
communications so that older people will stick around
and read what you have to say.
6. Avoid overly
busy website design; small
type sizes; garish colors; and gratuitous design elements such as flash or
slow-loading graphics.
7. Avoid
"hype" at all costs.
The older consumer has "seen it all" and is naturally
skeptical.
8. Win mature
people over gradually. You
will have to gain their trust before they will buy from you.
9. Give them
content. Older people are
avid readers and will appreciate the information you provide.
10. Sell what
appeals to the mature audience
such as health products and information; tips on managing their retirement
assets; ideas for low-cost travel; help with buying gifts for their
grandchildren; the low-down on the best places to retire; products that make
it easier for them to stay in their own homes; ways to earn extra income;
and opportunities to save money.
Get with the "age wave" now, and find ways to profit from this
incredible, growing group of consumers.
About the Author:
Joanne Fritz, Ph.D., publishes http://www.notyetretired
which provides information about working and earning during retirement; and
http://www.second50years.com, which brings demographic and marketing
information about the mature market to businesses.
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