madcomments

Over 50 but not over the hill

Posted in Marketing, Digital July 9th, 2008 by Andy Snuggs

Harriet Harman’s proposal on a new bill in regards to equality for women and for the over 50s has opened up the debate about targeting in marketing, especially when I listened to a disgruntled man who upon turning 60 noticed that he was automatically being treated as a totally different entity in the way he was being communicated to.

It seems too many agencies shy away from targeting over 65s – certainly there is a lot less room for acquisition as this age group is more likely to be thinking about saving rather than spending, will have less disposable income and is less likely to be online.  Consumers that are pre-retirement, however, 50 – 65 years have a large disposable income, own property, are online savvy and more often than not are enjoying a new found freedom with children flying the nest.  Make no mistake – these are desirable customers to have as they are extremely brand loyal.  The emphasis needs to be on customer journey - brands in general, when targeting all demographics, need to keep this in mind. 

Instead, agencies and brands shy away from the over 50s market because of the ‘over 50s’ stigma, and the idea that they don’t use the internet.  It is absolutely ridiculous to think that all over 50s will respond in the same way to marketing.  No agency worth their salt would dream of targeting a 20 yr old student the same way as 40 yr old family man!  With this in mind it’s no wonder they get low responses, and then decide to stick with going for the easy, younger market.  Yes, dealing with ages makes targeting easier, but the over 50s market needs to be broken down further if marketing is going to be successful. 

Marketing needs to be clear and easy to interpret - over 50s will prefer to interact with a brand on their terms, not yours.  Agencies need to make sure that the over 50s market is actually relevant to their brand - if it is, they need to quantify the market, research behaviour and optimum methods of communication.    One of the main issues with targeting over 50s is that brands and agencies don’t have any empathy with the market - this is why research and strategy is paramount. 

The single most important thing when targeting over 50s?  Don’t treat them like over 50s!  It’s unnecessary and condescending.  I think Greg Dyke, former Head of the BBC summed it up pretty well when he said “I find it amazing now that I’ve turned 55 I have overnight turned from a prime marketing target to being grouped with my mother as a has-been”.