I guess I'll be the first on this LA board to post this link. Advertisers and ad agencies, are you awake?
http://www.radioinfo.com/2013/11/08/capitalize-graying-america/
http://www.radioinfo.com/2013/11/08/capitalize-graying-america/
One wonders, do you get to a point where:
- The youth audience has splintered to the point that a large number of hard-to-convince older folks are a better bargain than a smaller number of easier-to-convince youth?
- Are there certain products/services that sell more easily to older consumers? Things they simply didn't need when they were younger, so there's no brand loyalty? Where advertising can still set their preferences?
We certainly see it on TV -- advertising aimed at older consumers. Viagra & other prescription drugs, the aforementioned reverse mortgages, bathroom resurfacing, Medicare supplements, etc.. Radio is not TV, but are the advertising bases *that* different?
I'm an engineer, this is way beyond my professional competency but I have to wonder whether radio is indeed leaving money on the table.
One wonders, do you get to a point where:
- The youth audience has splintered to the point that a large number of hard-to-convince older folks are a better bargain than a smaller number of easier-to-convince youth?
- Are there certain products/services that sell more easily to older consumers? Things they simply didn't need when they were younger, so there's no brand loyalty? Where advertising can still set their preferences?
That opinion piece misses entirely the point.
Older consumers need progressively more and more convincing to change habits or to try something different. That means more ads, more expense and poor ROI.
The larger senior-targeted campaigns all have creative that focuses on visual aspects. Nice older folks at play and taking walks and swims despite arthritis or nerve pain because they took a pill. Attractive guys doing manly things on the way to their partner to play thanks to a blue pill. Disabled folks zipping around the neighborhood on a scooter... they all require "appetite appeal" visuals as they sell by seeing... even the adult diapers sell the fact you can wear them without noticeable bulges.
Anyway, my 92-year-old dad hates all those commercials, and when I tell him that they make the networks very little money compared to other, younger-skewing ads, he just wonders why advertisers don't try selling those other products to him instead of constantly reminding him how old he is.
That oldtimer's disease must be bad...they stopped making Hudsons in 1954.