How much is ageism costing your brand?
George Clooney, Cindy Crawford... not your average 50-year-old, so why do we continue to lump 50 in with 70 when establishing marketing targets, asks Nick Richardson?
Against all the evidence, ageist stereotypes continue to reinforce advertising activity, leaving the Over 50s largely forgotten.
Not that they care – they’re out there spending anyway. But it’s high time more brands defied ageism to tap into what Nielsen calls “the most valuable generation in history”.
It’s the stereotype that’s old, not the market
Here are just five of the many preconceptions that snowball into a distorted picture of what today’s 50+ consumers are like, because they are like no generation before.
1. They don’t spend
Not unless you count the $4 billion (ABS) they spend every week on products and services. Yes they spend in the stalwart categories of travel and financial services – but also on cars, booze, fashion, tech, luxury goods, leisure – the list goes on. They’ve fewer financial responsibilities than their younger counterparts, so have more to spend on themselves.
2. Their brand loyalties are set
50+ are marketing’s original consumers, the eldest of them the first to be classified as ‘teenagers’. They’ve been consuming their whole lives and are brand-savvy. They have the experience, time and incentive to browse, switch, bargain and try new products – and they do.
3. They text with one digit
Much is made of the lack of tech-savviness among over 50s. And sure, they may be a bit slower on the uptake than digital natives, but they now spend an average of 5 hours a day online, more than double their FTA TV time (WYZA research).
4. They’re looking forward to retiring
The traditional idea of retirement is largely rejected by this audience, for a variety of reasons. Many want to keep working – some need to – well past retirement age, but what they’re looking forward to is greater balance. You may not see them in your workplace, but they’re not hanging up the boots.
5. They all want to be young again
Sure, some of them may want to look 35. And maybe feel 35. But they don’t want to be 35 again. Their bank of wisdom gives them a better perspective on life than someone younger. That’s why this year’s NSW Seniors Festival campaign struck me as odd.
https://youtu.be/lefaLeQEb7I
Grow Young? And wear pastels? No thank you. I’d rather grow old like the gals in this Voltaren spot from Canada (thanks to The Stable for this one).
https://youtu.be/gjt_mLbE1z0
Media agencies could do plenty more to understand this market
See that last little slice headed “50 and over” on the media demography pie chart? It’s nearly half of all adults, almost 8 million consumers spanning four decades. That’s some slice. If only we invested as much energy dissecting and profiling this market as we do Millennials, we could isolate more pockets of value for our brands.
50 isn’t 80 – but the ad industry thinks so.
When B&T ran a story two months ago about a research report on the over 50s, this is the image it used to illustrate the story.
Notwithstanding that they appear to be in a Belgian market town around 1983, these guys clearly aren’t buying anything from anyone. But B&T makes an accidental point, they are indeed over 50. Unless we segment this market more intelligently, unless we take issue with ageism, this reinforcing stereotype will persist. Perhaps the article would have felt a little different had these pics been used instead…
You’re right, they’re not typical 50+ folk. And the four old guys are?
Fed up with reading opinions pieces like this? Let’s do something.
Rather than just holding up a mirror and perpetuating the status quo, wouldn’t it be great to see the advertising industry acting positively to combat ageism? Not just because it will make society a better place for everyone, but because we have a commercial responsibility to build brands and sell products to the people who can afford to buy them.
Nick Richardson is a partner at Fifty Not Out. He will be speaking at the IAA’s Thought Leadership Forum ‘Forgotten After Fifty’ in Sydney on Wednesday July 27.
Interesting piece, but i fear until the neomania and millennial obsession subsides, there will never be change no matter how much supporting data. Critics will argue younger actors are cast/tone is tailored toward younger audiences as brands want to build lifetime value
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50+ MEDIA USAGE: The old model for reaching them has changed. WYZA Research found people over 50. particularly 50-69 year olds, now spend more time using the internet, social media or mobile than any other medium.TV, radio and hard copy print media still play a role in their lives but are no longer enough on their own to reach this growing demographic. Women and 50 somethings are much more likely to use social media and mobile communication than are men and those over 60, while online news, hard copy print media and subscription TV skew to men (mostly due to sport and series like House of Cards on Netflix). WYZA found their audience spend on average a total of 5 hours per day on internet, social media and mobile.
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Well said Nick!
The proliferation of agency teams of a particular age proudly portray the very stereotypes that permeate so many campaigns. Not surprisingly, anyone over 40 in the industry will find themselves on the receiving end of ageism. The industry debate on diversity is often just about the lack of women in senior positions. Whilst true, the lack of diversity of different ages within the industry is also a major problem.
Any agency team photo highlights the fact that far too many people with great experience are removed in favour of maintaining the industry’s stereotype of itself.
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When the industry has ageism entrenched internally, how can it reflect outward a true vision of consumers. When agencies would rather hire and burn through 3 or 4 cheaper people with inexperience rather than hire experience
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Good article Nic and good luck withe new venture.
This is nothing new, the age debate and the lazy targeting by agency and clients has been going on for decades. It is just becoming more pertinent as the ‘aged’ are becoming a larger group, ‘the baby boomer bubble’ , and the holder of more of the disposable income.
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