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Marketing Resource Center |
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Target Your Share of the 50-Plus Market
It's quite apparent that Americans are living longer--- and as people age, they request and require many more products and services than ever before. Now, as aging Boomers (born between 1946 and 1964) are coming of age, the fifty-plus population is over 77 million people and growing enormously all the time. And since they control 77% of all financial assets, your mature market share may make or break your business profits. Every 7 seconds someone in America turns 50. Are you doing your personal as well as professional best to make them your loyal customers, build trust, and receive referrals from satisfied customers? Here are some ways to increase your success and sales with this very diverse group. In every respect, the 50-plus market is the wealthiest population with major discretionary money to spend on everything from luxury cars, travel, homes, healthcare, gifts, entertainment, grandchildren, etc. They defy any one "lumped together" label---rather they are unique individuals reflecting their own life stages, lifestyles, physical abilities, household configurations, attitudes and personalities. Cater to each client the way you believe they would like you to behave. In advertising and publicity, use 12-point type, without serifs, to make reading easier. Use plenty of white space around copy so your message stands out. Older people are extremely interested in what your product or service does and why you are better than your competitors. They also have the time to read brochures, newsletters, and now the internet to keep abreast of all the facts to make informed decisions. 25 million adults over 50 are regular internet users, with the fastest growing segment 65 and up. 78% of them have made online purchases. Check the physical layout of your office for safety and comfort. Are the floors even, the door handles easy to open, and aisles wide enough to accommodate walkers or wheelchairs, plus comfortable seating for customers and their families? Make sure that background music is low enough so that it doesn't interfere for people with hearing disabilities. When facing a client, make sure they are not looking directly into sun glare. In advertising photographs, display individuals as 10 to 15 years younger than they actually are. That is the way we see ourselves, and you will discourage sales if you portray people as frail and sedentary. Remember, there are many 80- year- olds still on the tennis and golf courses, taking educational classes, and trying new hobbies. Take the time to get to know your older potential clients. Speak directly to them, answer their questions until you are both satisfied everything is understood. And never, ever talk down to them---their wisdom is priceless. Patience is a virtue, but the results and referrals coming from each one of your satisfied clients will certainly be worth it! As a mature marketer helping many companies since 1992, I invite you to e-mail me for future mature marketing newsletters. Please place the word "newsletter" in the subject line. Check out our online magazine at www.MatureResources.org , where we have relevant consumer information for boomers, seniors and long distance caregivers. There is also a Professional Resource Directory for businesses to promote themselves and their services. E-mail s.cutler@MatureResources.net or phone 561-375-8603 or toll-free at 1-800-540-0046. Sharon Sultan Cutler was one of the first mature marketing professionals in New York. She was responsible for creating a mature marketing company, special events, 50-Plus Expos, and a senior help hotline. Now that the internet is surfed by over 25 million Americans 50-plus, she created www.MatureResources.org, a monthly ezine for boomers and seniors and business advertising for companies on a local, regional or national basis.
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Comment by George C. Leef, Director of Research