The Silver Marketing Association has published a new internationally-focussed whitepaper, adding to the wealth of resources, data and support it offers businesses and organisations to help them maximise the effectiveness of their marketing to the over 50 demographic.
Entitled, ‘Silver Marketing Around the World’, the new whitepaper was launched at the Association’s recent summit by award-winning writer, broadcaster, TED speaker and Ageing Advocate Carl Honoré.
In his 30-minute talk, Carl shared just some of the fascinating facts uncovered by this latest piece of research which aims to help marketers create campaigns that not only resonate with the globally-growing over 50s demographic but also adapt to work effectively in different countries by recognising international differences such as financial and cultural factors.
The report is designed to help anyone involved in international marketing and is packed with many fascinating insights. Crucially, some of these help identify success points that could transfer between countries while some signpost the dangers in assuming one size fits all when it comes to communicating with over 50s in different parts of the world.
The information in the whitepaper is comprehensive, covering everything from market size and value to attitudes and behaviour.
Just a few summary examples of the report include:
In the USA, ROAR Forward Research found 37% of over 50s prioritise brands which represent them which is a significant opportunity when factoring in that 70% of US wealth is held by this demographic and only 5% of US advertising targets the sector.
In France, 27.6 million citizens are currently aged 50 or more which is over 40% of the population. Specialist marketing consultancy Seniosphère says a deep understanding of the sector is essential for successful marketing, leveraging humour, emotion and familiar cultural references and that this broad portion of the population still requires a further segmented approach. So, in France, think haute couture for each sub sector of the over 50s demographic and never prêt à porter. The report also looks into Seniosphère’s work with Volvic water which was fascinatingly practical – proving good marketing goes way beyond promotion and deep into product.
Greece has a high life expectancy and those in their 50-70s are still considered young. They become seniors in their 70s and any use of cultural references must recognise the high values placed on traditions and respect for elders.
The whitepaper is available to all members of the Silver Marketing Association and is part of a comprehensive library of research and information provided by the organisation as part of its mission to promote best practice and ethical marketing to the silver (over 50s) sector.
Alongside such data, the trade membership organisation, which was created by industry professionals, also facilitates valuable industry connections and undertakes campaigning that reaches beyond marketing and values the growing and influential over-50s population.
In the UK alone the sector accounts for 35% of the population and now controls three-quarters of the country’s wealth so it’s no longer just a relevant market for companies selling tailored products and services for the mature. The over-50s now form a significant proportion of the audience for all marketers and considering how best to appeal to it could be the difference between success and failure.
