Aging Customers
David Amerland ????
Latest book: Built To Last - A science-backed formula to help you stay fit and healthy at any age.
A quarter of a century from now the world will be decidedly different. Obviously there will be more of us, nearly two billion more as a matter of fact. While more means more of everything (more ideas, more energy, more needs, more consumers, etc) it’s not a rosy picture. Sixteen percent of us, 1.6 billion, will be over 65.
What this means in simple terms is that no matter what kind of business you’re in your customer base will experience age and health related issues that will impact their ability to do business with you. People struggling with health issues, statistically, spend less money on consumables and save less.
The stress they experience affects their ability to notice and process information and that includes advertising and marketing messages. The portion of customers who reach 65 and remain active and healthy will also have needs that are driven by a rearrangement of priorities.
The challenge for businesses is one of connection. Addressing that audience in a way that resonates with them requires a consistent approach that is perceivably human. The conundrum facing businesses hasn’t substantially changed since doing business at scale was codified into practices that could be taught and learned: stick to processes and time-worn if somewhat clichéd approaches or dig deep, identify and then amplify everything that makes your business feel human.
Both approaches help businesses make money in the short-term but only one has a long-term future. Ultimately businesses with a future are also businesses that are worth associating with and working for. ?
"The Celebrate Business Project" wants to visit YOUR Metropolitan Statistical Area (MSA) to create LOTS of Market Noise.
3 天前I'll share some of my learnings about us "Baby Boomers+" in our Conversation tomorrow David Amerland ???? . I am living a "Reverse Alzheimer's" lifestyle that embraces almost everything you share in"BUILT TO LAST".
Exploring how language drives B2B growth
4 天前The issue of marketing and advertising not reflecting demographics and real buying power is very much already with us. If you use TV advertising as a guide it would appear that over 60s only buy Saga cruises, Viagra and incontinence products. I'm sure this is more a reflection of the demographics of the marketing industry than real spending behaviour and buying power.
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4 天前Its a weird place to be. I am part of the 65+ group.. 69 in fact. The old forms of advertising do not work. The new (?) forms for the most part don't work either. There are however, those businesses that understand the changing times and as Ted Rubin preaches.. go after the RoR not the ROI from the jump. Return on Relationship wins hands down every time! Less than 3 months ago my husband, after a bit of research chose to try the dog( Pet) company Chewy. We set up an autoship for some canned dog food and the only treat they eat, Caledon Farms. Chicken Jerky. All natural. it is a good sized bag and at 1 treat a day split between them. Hubby called them last week to pause our autoship for wet food as we are changing to a Canadian product due to the current economic climate. Im not even sure what he said to the lovely lady he spoke to. Last Thursday the doorbell rang and another florist delivery arrived. Imagine our surprise when we read the card that came with the beautiful blossoms in a vase. The lovely verse ended with "Warmly, Vehuel and your Chewy family" This is RoR in action. That is customer service and that is one key to customer retention! We are theirs forever!