The 50 – 70+ age group are the most asset-rich and highest spending people in New Zealand. Yet many businesses misunderstand, or worse still, ignore them. Right now, millions in sales are being lost because marketers make inaccurate and costly assumptions about the people who should be their very best customers.
Why the 50+ market should be a key focus of your business
These are just a few representative numbers from Statistics New Zealand that tell the story:
How much are misperceptions about 50+ consumers costing you?
Neurology holds the key to the 50+ market. There are important changes in brain physiology that begin at around 45 years of age. Subtle neural changes mean that older people receive, process, and respond to marketing communications very differently from their younger selves. What works for 20-40 year olds is simply not effective with people 50+.
Memory and emotion become much more powerful influences in decision-making, and the raw facts and figures that stimulate younger brains lose their impact. Understanding what these changes mean for purchasing behaviour, and how to create communications that engage older brains, is vital to converting them into customers.
Why you shouldn’t view the 50+ audience as being all the same
In the same way that 20-year-olds are different from 30-year-olds in outlook, attitude, interests, and motivation, the same holds true for people 50+.
They are not a homogeneous group, and are as individual as younger people, with preferences that continue to evolve as they age.
And don’t forget that today’s 80-year-old was in their early 20s at Woodstock! Boomers are the generation who lived through the 1960’s, the most explosive decade of change in society ever, spanning the birth of Rock and Roll and Flower Power, to the Space and Information age.
How can we supercharge your business?
Depending on your business aspirations, capabilities, and budget, we can help you to improve your strategic planning and decision-making and increase the effectiveness of your marketing initiatives.
Compelling communications
- Use the right language to communicate meaningfully
- Build engagement, preference, and promoter score
- Cover relevant topics that enhance SEO and GEO search results
More effective tactical implementation
- Meaningful propositions
- Well-timed promotions
- Insight-driven media and channel selection
Better strategic decision-making
- Prioritise resources to more profitable markets
- Develop new markets
- Inspire product development
Brand transformation
- Dominate the most profitable market segments
- Build enduring brand value
- Demonstrate superior strategic insight
The Pinnacle&Co. 50+ Market Attitudes to Advertising Survey
We’ve been to the coal face to discover exactly what the 50 – 70+ age group feels about advertising and marketing. Our survey of 277 people online and over 100 person-to-person interviews shows conclusively that businesses in New Zealand are failing to engage this audience effectively.
The short version of our survey is that while the 50+ Plus audience sees and hears a lot of advertising messages on TV, print, radio and social media (yes, social – they love Facebook), very little of it hits home. Generally, it lacks insight and tends to portray them in ways that are either dismissive, clichéd, or, at worst, downright insulting.
Learn how to activate New Zealand’s wealthiest customers for your business
99.99% of New Zealand business people have no idea about the things that make over 50s consumers different. That makes understanding how to engage them a powerful competitive advantage.
By providing unique insights, hands-on guidance, engaging creativity, and strategic recommendations, Pinnacle&Co. can empower you to drive incremental revenue and succeed in the economic powerhouse that is the 50+ market.
For an in-person presentation of our unique research, and to find out more about how your business could profit from this wealthy and tragically overlooked audience, get in touch.