With the sustained aging of the global population, the number of people over 65 is expected to reach 82 million in the United States by 2050; this will represent a 47% increase, and it is part of a trend in demographics that is happening in many other markets around the world. As the population of individuals who are 55 and older continues to grow, various industries and economic sectors are also going through expansion; after all, seniors control a significant portion of global wealth, and their spending is crucial to economic activity in everything from healthcare to nutrition and from technology to financial services, travel, and more.
With the above in mind, marketing professionals are increasingly targeting seniors with campaigns that speak to their interests, and the competition is strong in this regard. Reaching this demographic can certainly pay off for many brands and businesses because seniors tend to develop brand loyalty more easily than younger consumers. Let’s go over five strategies that can be applied to this effect:
1- Traditional Marketing and Advertising Platforms
While digital marketing can be effective when reaching tech-savvy seniors, it is important to remember that many of them grew up with tried-and-true outlets for promotion such as television commercials, radio ads, newspapers, direct mail in the U.S., and billboards. The key is to select the right programs, stations, and publications that seniors pay attention to. Many business owners and brands have completely forgotten about traditional marketing platforms, and they are missing out on large audiences beyond seniors.
2- Word-of-Mouth Marketing
This strategy is highly trusted by many seniors who believe in the power of positive recommendations. For the most part, word-of-mouth begins with attracting prospects through other campaigns, then you want to encourage satisfied seniors to refer your business to their friends and family. You can offer incentives for referrals, forge partnerships with senior influencers, or reach out to community leaders when promoting your products and services through positive testimonials or reviews.
3- Projecting a Practical Image of Accessibility
Are your websites, landing pages, and other digital marketing efforts easy to navigate and read? There is more to accessibility than just large fonts, good contrast, and clear language; consider offering alternative formats like audio descriptions for videos or transcripts for podcasts. When you take time to make your marketing practically accessible, you advocate inclusivity while reaching a wider range of seniors.
4- Experiential Marketing
This underused strategy takes the trade show experience to a higher and more personal level, and it is starting to be discovered by smart brand managers who understand the power of delivering experiences directly to audiences. Mobile roadshows, for example, are increasingly rolling into places where seniors congregate; for example, 55+ residential developments, shopping malls, and recreation centers. The idea is to create memorable and interactive moments that allow seniors to experience products or services firsthand. Think about product demonstrations, health screenings, cooking classes, or even educational workshops.
5- Community Outreach and Partnerships
This strategy ties into experiential marketing, and it can result in your products or services getting brand ambassadors if you play your cards right. By partnering with senior centers or community groups, you can co-host events or workshops that provide valuable experiences for seniors. These events can be a stepping stone for your experiential marketing efforts.