semoochie said:
Wait a minute! I thought it had been established on this forum that older people spend LESS time listening and that was part of the reason that advertisers didn't go after them, that and the difficulty of changing the mindset.
No, they spend more time listening.
They buy less. That's a more important factor than established brand loyalties and purchase behavior. We are talking about empty nesters and retirees (no kids at home to buy stuff for) with established households. They do buy; but they need less and buy less as a rule (again, we are talking about patterns and statistics - not individuals).
Remember the 80/20 Rule: 20 per cent of customers account for 80 per cent of sales (per centages vary in different product categories but the principle applies - not all customers are equal). If you can sell someone who will buy your product several times a week or one who will buy once a month, which would you rather sell? In the context of direct sales, which customer are you more likely to spend time calling on? In the context of radio, which customer would you rather reach with your radio ads?
It's about return on investment: How much sales increase will result from every dollar spent in advertising.
There are some types of products that older consumers do buy more of and they are core target consumers in those product categories. But those products don't use radio much. Mostly because they can't afford to. So the other side of the coin is, these advertisers don't have big bucks to spend on radio and therefore radio stations would rather go after advertisers which do. In advertising sales, the 80/20 rule becomes the 99/01 rule.
