Our seminars, reports and custom engagements teach brands to re-generate and grow market share in the hugely profitable, but under-appreciated, over-stereotyped, 50+ consumer space.
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Why The 50+ Space Is Crucial to Brand Profitability
Consumers age 50-plus are America’s best customers. They own over 80% of U.S. household wealth and account for over half of all retail sales, including automobiles. As a country they would be the world’s 3rd largest economy – only the U.S. itself and China are bigger.
Despite this enormous buying power, most brands over-invest in the 18-49 demographic instead. Outside the financial, health and aging sectors, less than 10% of the U.S. advertising spend is allocated to actively and specifically targeting consumers aged 50-plus (Nielsen).
With 4 million Generation Xers turning fifty every year, this restrictive policy makes less sense than ever. By the end of 2020 some 25 million of these peak earners will have been dropped from direct targeting since January, 2015. It’s time for brands to move to the next stage.
Brand Re-generation in The 50+ Space: The Comfortable Myths Are Wrong
Neglecting the 50+ space is the conventional thing, conveniently justified by comfortable myths. All are wrong. All limit brand profitability.
- Myth #1: Buying behavior is static not adaptive – old habits and loyalties inhibit switching
- Myth #2: The 50-plus are easy to influence via traditional media and messaging
- Myth #3: Image problems – depicting older people in advertising drives young buyers away.
Nothing could be further from the truth. The Boomer / neXt Generation™ grew up vibrant, optimistic, eager to embrace the future and constantly re-inventing in response to societal and technological change.
Far from lapsing into inflexibility, they are America’s most adaptable generation of consumers and influencers – still gazing out over the horizon to whatever comes next.
The Boomer / neXt USP: Expertise in the Hidden Socio-cultural Imprinting of the 50+ Space
Brands are awash in statistics, opinions and theories about consumers over 50. They understand the Big Data, but not the authentic voice or mindset of the audience. At best they market to stereotypes – at worst, to caricatures – of an “aging” population.
The Boomer / neXt USP is expertise in the hidden socio-cultural dynamics of consumers age 50-plus – long-ago imprinting that drives brand destinies today in ways consumers themselves do not understand and which most marketers are too young to have experienced.
Our professionals are age-appropriate to the audience: they live in Boomer world themselves, they know the hidden dynamics of their own generation and are fluent in the nuanced dialect of Boomer-speak. Our brand re-generation training services reflect this unique skill set:
- More persuasive advertising – authentic messaging, context and brand positioning.
- More relevant product design – beyond form and function to symbolism and metaphor.
- More proactive planning – independent analysis of current strategies and emerging trends.
- More revealing segmentation – proprietary techniques that open the portal to innovation.
- More honest consumer research – older consumers are more frank within their own age group.
In addition to custom engagements, Boomer / neXt seminars, workshops, syndicated surveys and white papers train marketers and advertisers to re-generate and win in Boomer-world.
For those who did not personally experience this world, these are essential first steps to success.
Vizionation™ Inter-generational Research Reports
As each generation ages, new doors open, new opportunities arise and new responsibilities emerge to temper expectations. Today, like the Boomers before them, Millennials and Gen Xers are rapidly transitioning into new lifestages that are no longer over the horizon but have become the here and now.
Vizionation™ is our inter-generational consulting and research arm, publishing innovative high value/low cost syndicated studies across a wide range of consumer categories and topics.
Our reports immerse managers in everyday consumer lives, dismiss distracting myths and memes and reboot imagination to inspire competitive creativity.
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