Marketers around the world are discovering global aging - and this is where the longevity economy comes into play.
When checking numbers and statistics - some with an implicit age bias - most marketers take the lazy approach by simply splitting the population into age brackets.
And the very lazy ones draw one single arbitrarily line, most likely at the age of 50 or 65.
If a person is below that line (s)he is a regular customer. Men and women above that line are old. And being named old is seen as an indicator for decline, seemingly resulting in the need for “big button solutions” and other assist devices. Guess what - nobody wants to be seen with a solution made specifically for seniors.
Why?
First and foremost, we are all (a bit) ageist as we grew up in an ageist society. I too.
What about you? When was the last time you said (to yourself) “He is doing good for a man of his age” or “Isn´t she too old to dress like that?
Jokes about the old fart, misleading interpretation of behavior and the highlighting of disadvantages of old age prime the public perception on old age and the fear of being (seen as) old.
This ageism is also fueled by the business world’s approach of “Xplus” solutions.
If something is called “agetech”, it is made with old people in mind with good intention.
But as people have a longer health span, they see themselves as old later than ever before, so the customer lifetime for agetech shrinks accordingly.
To be successful in our aging world we need to serve the interests of people and not our lazy stereotype led by the “big five-oh”. But how and why?
There is an easy answer for the why:
People who understand people always win. If you realize that the chronological age means very little to a person, you won’t address nor define them by their age.
Ask yourself: would you respond to an offer for the „30plus“ or for “late 40“ or would you rather respond to a non-age related offer specifically suiting your needs?
The how is less simple.
There are two key options to address needs or interests.
The first one is affiliation.
People prefer to belong to a group which they like to be seen with.
Some want to be seen as entrepreneurs, some as athletes or others as gourmets. And not surprisingly: It doesn’t matter how old they are. If they like to be a wine geek they will be open for innovations made for wine geeks.
The second one is stage.
There are several stages which correlate with later life.
For example: Retirement or grandparenting. If you address a person as grandma or pensioner it is very likely that they feel comfortable and will be open for solutions that cater to their current stage. Your chance of getting attention from older adults is even greater when they are in transition into a new stage. Just image a future grandpa getting an offer to join a first aid training for toddlers…..
Let’s say it loud: 50plus is dead!