February 27, 2015
Do you know which demographic controls 85% of the country’s wealth, and are now the fastest growing user group of social media?
Surprisingly enough, it’s seniors. The over 50 population in the U.S. reached 108 million last year, and in the next 20 years more than 75 million more Americans will turn 60. Despite their huge potential spending power, big U.S. corporations often give little consideration to seniors when marketing their products – a mistake that small business should seek to avoid.
Seniors tend to be very loyal customers, patronizing businesses that respect them and cater to their needs. Seniors must be aware of a small business and understand what it does well before they will switch or develop new costumer loyalties.
While not the earliest adaptors, there are now over 40 million people over 65 using social media platforms like Facebook, Twitter and Skype. Seniors have email accounts, perform Google searches and watch videos on YouTube. Small businesses need an online presence that shows consideration to Baby Boomers, without using blatant age stereotypes.
Small businesses can easily borrow one marketing tip from large corporations which can be affordably applied to reach the senior segment – music. Popular music from the late 1970’s and 1980’s connects at a subliminal level, making Boomers feel welcome. Consider playing music subscription services like Spotify or Pandora in the background.
To learn more about marketing to the senior segment, and read the entire article, please visit smallbusiness.yahoo.com