By all accounts, most companies do a terrible job of marketing to seniors. Regardless of the product or service, traditional approaches focus on demographics, geography, purchasing power, promotions—the stuff of push marketing. This omits several important things.
1. Today’s over-65s, not to mention the enormous baby boom generation, have been marketed to their entire lives.
They’ve heard it all. They are extremely savvy, almost cynical, consumers. They won’t fall for just anything.
2. Seniors—like all modern consumers—are very well informed.
Call them “activist consumers.” They do most of the work upfront, researching products and comparison shopping online. The evidence that they are in the market is buried in a few hits to your website. They’re ready to buy, or not, before you even know they’re there. The higher the ticket, the truer this becomes.
3. Your own data tells you whether traditional marketing is working.
Increasingly, companies are finding that the ROI on direct mail and space advertising just isn’t there. Companies that target mature consumers, especially those with complex products and services, can’t justify the expense of blanket sales and marketing tactics. Try explaining a fixed annuity to a fixed-income audience in a single-page ad.