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MYTHS ABOUT MARKETING TO OLDER PEOPLE

Written by: Jay Conrad Levinson

Article Overview: As older people, defined here as people over 50, become a larger and larger market with more and more disposable income, they become increasingly important to you. So it's crucial that you operate by the realities and not by the myths. The myth clarification starts here:

MYTHS ABOUT MARKETING TO OLDER PEOPLE

As older people, defined here as people over 50, become a larger and larger market with more and more disposable income, they become increasingly important to you. So it's crucial that you operate by the realities and not by the myths. The myth clarification starts here:

Myth: Older people have a loss of mental acuity.
Fact: Only seven percent of people over 65 suffer from any form of mental loss.

Myth: The majority of older people suffer from poor health.
Fact: Only 020 percent of older respondents reported having a serious health problem; only 5 percent are in any kind of institution.

Myth: Most older people are isolated
Fact: Most older people have strong networks of friends and relatives.

Myth: Crime rates are extremely high among older Americans.
Fact: Crime rates among older people are no worse than among the general public. The only exception is fraud.

Myth: Older Americans have little discretionary income.
Fact: The over-50 group has more discretionary income than any other age group.

Myth: Productivity drops as people age.
Fact: Studies show that older workers perform as well, or better, than younger workers.

Myth: Older people are pretty much all alike.
Fact: Older people are more heterogenous than any other age group.

Myth: Older people are generally bored and have unproductive lives.
Fact: Most older people are not bored but are deeply involved in a vast array of activities and special interests.

Myth: It is important to stress leisure when marketing to older people.
Fact: Most older adults are looking for involvement, not leisure.

Myth: When marketing to mature customers, it's important to create strong age-specific features.
Fact: Older people do no respond well to offerings that are strongly identified with age.

Myth: Most older people would like to be young again.
Fact: Most older people are quite content being older.

Myth: Mature consumers are tight with their money.
Fact: Mature consumers are tight with money for goods and services needed to maintain their lifestyle, but free-spending when it comes to enhancing their lifestyle. They clip coupons, then take luxury cruises.

Myth: Most older people are opinionated.
Fact: Mature people are more likely to speak their minds than younger people.

Myth: Older people are slow to make buying decisions because they are not open to change or new ideas.
Fact: Older people have a tendency towards quick decision-making and are not afraid to change what they buy if the change is in their best interest.

Myth: Older people are preoccupied with their age and the aging process.
Fact: Age does not play a significant part in most older people's lives.

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Article Tags: age group, clarification, crime rates, discretionary income, disposable income, health fact, health problem, mature consumers, myth, myths, offerings, older adults, older workers, poor health, productivity, realities, relatives, respondents, serious health, special interests



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Re: Why do people hate Network Marketing / MLM? - You make a great point abotu the sales industry GT. Unfortunately, sales businesses have a really high attrition rate. From car salesmen to real estate or insurance agents, anywhere from 60-80% (depending on the chosen market) fail and quit without ever making a single sale. Since most people think of MLM as a sales business, it's no wonder the attrition rate is that high or higher. The fact is, MLM is NOT a sales business. It's a PEOPLE business, or more specifically, a Coaching and mentoring business. As for an example, I do have one, as you would expect. But, rather than pitching my company here, I would suggest learning the basics of what makes a successful mlm company. A mentor of mine, Michael Dlouhy developed the 5 Pillars to Network Marketing. If the company has all 5 pillars, you can almost guarantee success. If not, the chances are not good. Michael developed this over 20 years ago. He knew MLM could work, but had no luck himself. SO, he joined over 100 companies in under 2 years just so he could compare and see what worked, and what didn't. Bottom line, you need a 5 pillars company if you hope to be successful. Bill


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