How Much Is Ageism Costing Your Brand?

How Much Is Ageism Costing Your Brand?
SHARE
THIS



Ageism is a big issue in Australian advertising, with the over 50 market is often neglected, but Nick Richardson, partner of Fifty Not Out, isn’t having a bar of it.

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.

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).

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.

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, partner of of Fifty Not Out, will be speaking at the IAA’s Thought Leadership Forum on ‘Forgotten After Fifty’ on Wednesday 27 July. For tickets visit here.

Please login with linkedin to comment

fifty not out

Latest News

Renault Unveils 15-Minute ‘Autonomous Sensory Meridian Response’ To Promote New Electric Car
  • Campaigns

Renault Unveils 15-Minute ‘Autonomous Sensory Meridian Response’ To Promote New Electric Car

Have you ever driven an electric vehicle before? Lots of people don’t know how smooth and relaxing the experience actually is. It’s for this reason that Renault has turned to YouTube ‘brain massage’ trend, ASMR (autonomous sensory meridian response), in its latest campaign to give online audiences the variety of sensations of driving electric vehicle, […]

Peugeot Unveils Global ‘Unboring The Future’ Campaign Via BETC Paris
  • Campaigns
  • Media

Peugeot Unveils Global ‘Unboring The Future’ Campaign Via BETC Paris

The future of cars is looking increasingly autonomous – cars where technology takes care of everything, even the driving. Practical for sure, but many people still enjoy being in control of the wheel. So why choose? Peugeot presents its new vision #UnboringTheFuture. A future that reinvents the pleasure of driving and offers the freedom of choosing […]

Digital: Is it Time to Call a Spade A F@cking Shovel?
  • Opinion

Digital: Is it Time to Call a Spade A F@cking Shovel?

In his latest post, B&T’s favourite industry contrarian, Robert Strohfeldt, argues the word “digital” is clouding and confusing too many aspects of advertising and its outcomes… Just looked at another of the many “online” advertising/marketing papers I receive. There are so many, I can’t keep up. You would think traditional media is no longer relevant, […]

by B&T Magazine

B&T Magazine
Enero Agencies Team Up To Discover What Makes A Brand Truly Great
  • Marketing

Enero Agencies Team Up To Discover What Makes A Brand Truly Great

Insight and strategy consultancy The Leading Edge has conducted research into what makes a brand great. In partnership with its sister Enero group agencies Hotwire and Orchard, the report identifies five specific roads that take brands from good to great to greatness. The findings reveal that brands which encompass greatness have five distinct qualities: passionate vision, a sense […]

HP & Planet Ark Help Aussies Face Up To Plastic Pollution With Monster Installation
  • Campaigns

HP & Planet Ark Help Aussies Face Up To Plastic Pollution With Monster Installation

Australia is home to some of the deadliest predators in the world. But nothing has posed a greater threat to our environment and marine life than single-use plastic. A new report by HP and Planet Ark released last week found that Aussies rate marine plastic pollution as their top concern when it comes to environmental […]

HP & Spikes Asia Announce Finalists Of ‘Young Spikes Design Competition’
  • Media

HP & Spikes Asia Announce Finalists Of ‘Young Spikes Design Competition’

Ten teams of young creatives will vie for the prestigious Young Spikes Design Competition Award at Spikes Asia 2018, a three-day festival of creativity held between 26-28 September 2018. The competition garnered 123 submissions – the most of any Young Spikes competition – from executives aged 30 and under across the Asia Pacific and Japan. […]

Director Appointment Strengthens Corporate Affairs Specialist Wilkinson Butler
  • Media

Director Appointment Strengthens Corporate Affairs Specialist Wilkinson Butler

Corporate affairs agency Wilkinson Butler is delighted to welcome Nick Albrow to join its board as a director. Albrow joins chairman Peter Wilkinson and managing director Andrew Butler as the business builds on its reputation as one of the leading crisis and issues firms in Australia. Joining in September 2017 as an account director, Albrow has […]

Mastercard Marketing Chief Sarah Pike Exits
  • Marketing

Mastercard Marketing Chief Sarah Pike Exits

Mastercard marketing boss Sarah Pike has exited. Sadly, not via a half-pike somersault with twist, but the actual exit.

by B&T Magazine

B&T Magazine
Adobe Appoints New ANZ Marketing Director
  • Marketing
  • Technology

Adobe Appoints New ANZ Marketing Director

Adobe announces new ANZ marketing 'big cheese' who's set to go by the title of marketing director and not Queen Gouda.

by B&T Magazine

B&T Magazine