Marketing advice relating to millennials is a common discourse these days, unsurprising since this demographic has just started to enjoy spending power of their own and they’re keen to become loyal followers of brands they really resonate with.
But while you should certainly devote some of your time to working out how best to market to this particular group, you should also do your best not to ignore older demographics – not least because they have even more spending power than millennials.
Interestingly, however, it seems that there are many companies out there doing just that, to their very real detriment. As observed by Marketing Week, there are over 23 million people over the age of 50 in this country, data from the Office for National Statistics shows, and they have the highest level of disposable income.
The news source went on to note that when over-50s are targeted, they’re typically treated as a “homogenous greying group”, someone who needs a funeral plan or someone who always has Werther’s Originals in their pockets, rather than individuals with their own interests and hobbies.
Or, perhaps even worse, they’re not even considered by advertisers whatsoever, with some marketing teams doing this on the assumption that over-50s will devalue brands and make their product offerings less appealing to younger demographics.
A recent study by Gransnet and Mumsnet revealed that 78 per cent of people over the age of 50 either feel misrepresented or underrepresented by advertising, while 49 per cent admit that they actively avoid brands who choose to ignore them. And 69 per cent said they’d be more receptive to brands if their ads represented the over-50s more accurately.
If you’re looking to shake it all up this year, what about avoiding age as an instrument for targeting altogether? Microsoft is one company making waves in this regard already, choosing to target consumers by use and adoption of technology instead of by how old they are.
Consumer marketing director with the brand Paul Davies explained: “We don’t target by age because we feel it’s a very blunt instrument for targeting. We also believe that age doesn’t define us as much as it perhaps did in the past. That’s partly driven by technology because tech doesn’t discriminate by age, tech platforms are open to all.
“We see some very tech-savvy 50 and 60-somethings being more active on Facebook than perhaps a busy millennial who is juggling the demands of a busy career and an expanding family life. And because of that we think age as a targeting tool has become a bit outdated.”
If you want further help and advice relating to over-50s marketing, have a read of this article on the Internet Advertising Bureau website, which features some top tips that you could find useful.
Advice includes developing a deeper understanding of how audiences engage and behave with content in order to build up a true picture of this so that the most accurate targeting and measurement can take place.
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