50+ Marketplace Rules That Work Today: New Priorities for Boomers, Retirees AND Seniors

50+ Marketplace Rules That Work Today New Priorities for Boomers, Retirees and Seniors © Medina Associates 2011 A Presentation for The Direct Marketing Association DMA2011 Conference

Kurt Medina President Medina Associates www.medinaassociates.com Click RESOURCES Password “DMA2011” Free Book For All Attendees

20 Years Ago, marketers thought that everyone in the 50+ Marketplace was a “Senior” . and that they were all OLD ... Today, marketers think that everyone in the 50+ Marketplace is a Boomer … and that they are all HIP! Both Views Are WRONG!

What must my company do to make sure its 50+ marketing is relevant? Know Whom You Are Marketing to

The Three Most Meaningful Mature Market Segments Pre- Retirees Active Retirees Seniors Age 50-63 Age 64-74 Age 75 + (All ages are approximate at best)

Comparing The Segments Pre- Retirees Active Retirees Seniors Age 50-63 Age 64-74 Age 75 + Boomers World War II Silent Generation Depres- sion

How Do We Slice the 50+ Mature Market? THE BOOMERS!

Boomers ,[object Object],[object Object],[object Object],[object Object],[object Object]

Boomers ,[object Object],[object Object],[object Object],[object Object]

55+ Workers TOTAL Savings & Investments ,[object Object],[object Object],Employee Benefit Research Institute 2010 $10K-$49K 19% $50K-$99K 15%

Boomers ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Create promotional approaches that Educate before you sell

The Caregiving Burden on Middle-Age Families: 1990 - 2020 # of Teens or Older Parents Supported Per Family Neal Cutler-American Institute of Financial Gerontology

[object Object],[object Object],USC School of Gerontology 2007

Boomer Attributes ,[object Object],[object Object],[object Object],[object Object],[object Object]

Boomer Attributes ,[object Object]

How Do We Slice the 50+ Mature Market? ACTIVE RETIREES

Active Retirees The most exciting part about being an ACTIVE RETIREE … … are the new and EXPANDED Horizons that you give yourself

Income Change 2000-2010 Census Bureau 2011

Entrepreneurs ,[object Object],[object Object],Ewing Kauffman Foundation 2010

“Me” ,[object Object],[object Object],[object Object],[object Object],[object Object],70, the new 70

How Many Years Will You Live After Retirement? LIMRA 2010

Who’s Providing for Whom? ,[object Object],[object Object],[object Object],[object Object],Schwab “Families & Money” Survey 2010

How Do We Slice the 50+ Mature Market? SENIORS

When is Someone “Old”? Roper 2003 AARP 2009

Life Expectency of 65 Year Old Couple Probability of One Spouse Still Living at Various Ages Mouton & Co. 2010

PERCEPTION OF “PRODUCTS FOR SENIORS” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Nikkei Marketing Journal 2004 (Asked of Seniors in Japan)

Seniors vs Adult Children ,[object Object],[object Object],[object Object],[object Object],[object Object]

Appeals For … ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The 50+ Markets and Today’s Digital World

On-Line Internet Access by Age Pew Internet Project May 2011 & Aug 2011 65+ … 14% 50-64 … 38% ANY 50+ SOCIAL MEDIA USAGE ANY TWITTER USAGE

Who Owns What? Pew Internet 2011

Opportunity Areas ,[object Object],[object Object],[object Object],[object Object],[object Object]

Don’ts DO’s Medina’s 50+ Rules of The Road

Use Contrasting Colors in Graphics ,[object Object],DO

Introduce New Ideas by Starting with Familiar Concepts ,[object Object],DO

Hurry, Hype or Hustle Your Prospcects ,[object Object],DON'T

HURRY !!!  What Are You Waiting For? Why Wait ?  

Use Icons in Your Promotions ,[object Object],DO

Buy America AdWeek Media/Harris Poll 2010

Use Scare Tactics ,[object Object],DON'T

HUMANIZE Your Promotions ,[object Object],DO

Use Testimonials ,[object Object],DO

Create “Stories” in Your Promotions ,[object Object],DO

Use Glossy Paper or Plastic Tabs ,[object Object],[object Object],DON'T

Use Closed Face Envelopes ,[object Object],DO HUMANITY .

50+ DRTV “Rules of the Road” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],DRTV Branding vs Response 2 Humana

Thank You! Kurt Medina HANDOUTS www.medinaassociates.com Go to RESOURCES Password: “DMA2011”

50+ Marketplace Rules That Work Today: New Priorities for Boomers, Retirees AND Seniors

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50+ Marketplace Rules That Work Today: New Priorities for Boomers, Retirees AND Seniors