Prior to launching Age of Majority, we conducted consumer research to validate the business opportunity of marketing to Active Aging consumers. We discovered that only one quarter of people 55+ feel that brands are doing a good job of engaging them. Conversely, that means that 75% of older consumers feel neglected by brands and are waiting for them to reach out to them in a meaningful way.
Clearly there is an opportunity for marketers to do a better job at engaging this highly important group of consumers. Marketers are either ignoring Active Agers altogether or aren’t doing a very good job reaching them and/or portraying them in realistic and relevant ways.
This disconnect wasn’t surprising to us. It reinforced that most marketers are suffering from FOMO — not a Fear Of Missing Out but Fear Of Marketing Older. Research and our discussions with marketers suggest this is largely due to the marketing and advertising agency world being youth dominated (only @5% of people working in the industry over the age of 50). Simply put, they are not that interested in marketing to old people, primarily due to the false stereotypes and myths that we refer to as The Dirty Dozen Myths of Aging.
Since launching, we have done further extensive research with Active Agers across a wide variety of categories. We have helped businesses and brands identify areas of opportunity, including new product offerings and improve their positioning, messaging and overall branding. We have also helped marketers improve how they can best exploit opportunities through optimal channel planning and execution, better calls to action, and the use of more engaging imagery.
Until now, companies (including Age of Majority) wanting to conduct research with older consumers were largely required to tap into external panels. While the findings are solid and relevant, there are significant drawbacks to this approach, including high costs, delays in getting the results, and the inability to connect with those same respondents for follow-up questions. There is also no assurance that respondents feel invested in the purpose or outcome of the research. The process is mostly transactional (respondents answer some questions in return for some form of incentive and then move on). The lack of deeper engagement is also a miss in that older consumers are among the most enthusiastic about sharing their views and ideas. We see this over and over again when we connect with them on a variety of projects.
In light of the amount of research we do for clients and our own ongoing learning, the limitations in using someone else’s panel and the desire of older consumers to have their voices heard, I am pleased to announce the launch of our own online community of Active Aging consumers – Revolution55.
Revolution55 is unlike anything that has existed before. It is a community of active, engaged people 55+ brought together for the sole purpose of helping brands and companies deliver more relevant and useful products, services and marketing to their lives.
Collectively, our community members will help change the way brands engage people like them and eliminate that “75% disconnect” with marketers. The outcomes will be a win for older consumers, waiting to be heard, and for brands who will be well positioned to deliver to a receptive crowd.
If you are currently or are about to become an Active Ager, I’d love to have you join our community. It is quick and easy to register – simply click on the link above or below and we’ll get you onboarded in no time.
And if you are a marketer looking for a better way to understand and ultimately engage with this lucrative audience, send me a note below and I’ll let you know how Revolution55 can provide the unique insights no one else can.