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Targeting the lucrative senior market? Lose these 5 common beliefs.
A lot of businesses find themselves drooling over the profit potential of the over-50 set. After all, those 55 and up have 41% of the buying power of all consumers, according to an article in Insider Radio. That amounts to $3.2 trillion annually. Yet, this article reports, consumers feel “shunned” by advertisers.
It’s not just big business. If you’re a financial planner, life coach, accountant, real estate agent, organizer, you’re among the many independent professionals who frequently target buyers in this age group or even older.
5 Ridiculously Common Mistakes Marketers Make When Targeting The Senior Population
As a copywriter, I’ve discovered that many people in those fields actually make marketing decisions that work against them in trying to reach this “senior” market.
(1) Making vast, unsupported generalizations about “older” people.
As people get older, they become more diverse, although they’re often lumped together as a target marketing segment. But you don’t need an expensive research study to figure this out.
