Marketing to the 50+ Demographic
May 15, 2013
Why are so few companies doing this brilliantly? With the demographic spike & disposable income in this age bracket you think we’d be falling over ourselves to show the love to the 50+ market. Upon closer inspection, we find relatively few products exclusively for the 50+ market, and those that exist tend to be for people who are even older still (think denture cream, funeral plans and stairmasters).
Most products or services hoping to capture a significant proportion of the 50+ market aim their comms at an obviously younger audience (with the notable exception of cosmetics). The paradigm of marketing to 50+ is that no one wants to be told they’re old.
Breaking marketing stereotypes
However there are those who are breaking the marketing stereotypes of ‘old’ and swinging it around to offer an optimistic, and far more realistic, version of being 50+. There is increasing recognition that 50+ isn’t one single market either – there’s a lot of a difference between being 51 and 81.
BT Financial's 'Prepare for the Best' campaign
BT Financial show they get it with this campaign. It provides a deeper, more insightful and happier reflection of what it means to be older. With maturity can come self-knowledge, freedom from convention, and increasing recognition that life’s about enjoying what you’ve got. Far from feeling old and obsolete and wanting to be younger that older people are relishing their full and rich lives.
Check out our thoughts on the Toyota Venza ad for how a brand plays on inter-generational tension to great effect!