Post by samueldavidd109 on Feb 20, 2024 7:33:41 GMT
Millennials. For a long time this was the only obsession of the marketing industry: reaching consumers with changing needs, high expectations and considerable purchasing power. These young people have remained in the minds of marketers for a long time until centennials, even younger, began to become the new object of desire. Although reaching an audience like this is a logical objective since they are the consumers of the present and the future, marketers are forgetting about a group that is as beneficial or even more beneficial for brands than their predecessors: those over 50 years of age. According to Nielsen, they are the most valuable consumers in the history of marketing. So why is the industry ignoring them? This is the question that Bob Hoffman tried to answer during his speech at the NextM conference, held in Copenhagen and organized by GroupM.
The advertising man directs his criticism at what he calls the “makeup” of the industry , referring to the scarce presence of senior professionals in agencies when they represent almost half of the American Denmark Telegram Number Data population. Although this situation is usually excused by arguing that young people are more creative or, as Mark Zuckerberg claims, “smarter.” However, reality shows that talent is not a question of age. And to demonstrate it, Hoffman alludes to the latest winners of some of the most renowned awards in the arts and sciences. All of them, of course, over 50. “In short, people over 50 are creative enough to dominate the Pulitzers, Oscars or Emmys but they are not creative enough to write a damn banner,” says Hoffman.
As consumers, the senior public is responsible for half of total consumer spending, they have an income 3 times higher than other generations, they buy 57% of new cars, they control 70% of the wealth in the United States and, “If they were a country, they would be the third largest economy in the world.” Likewise, until 2030 this demographic group will grow at a rate 3 times faster than those under 50 years of age. “Do you really think it's a good idea to ignore these people?” asks the advertiser. And, despite all this, seniors are only the target of 5% of marketing activity. The reason for this denial of the senior target is nothing more than a reflection of the narcissism of an industry that has surrendered to trends. “Change is inevitable but we need to look at things with perspective and overcome obsessions. “We need to exercise modesty and prudence when it comes to ensuring that we know things that we really don't ,” she says.
The advertising man directs his criticism at what he calls the “makeup” of the industry , referring to the scarce presence of senior professionals in agencies when they represent almost half of the American Denmark Telegram Number Data population. Although this situation is usually excused by arguing that young people are more creative or, as Mark Zuckerberg claims, “smarter.” However, reality shows that talent is not a question of age. And to demonstrate it, Hoffman alludes to the latest winners of some of the most renowned awards in the arts and sciences. All of them, of course, over 50. “In short, people over 50 are creative enough to dominate the Pulitzers, Oscars or Emmys but they are not creative enough to write a damn banner,” says Hoffman.
As consumers, the senior public is responsible for half of total consumer spending, they have an income 3 times higher than other generations, they buy 57% of new cars, they control 70% of the wealth in the United States and, “If they were a country, they would be the third largest economy in the world.” Likewise, until 2030 this demographic group will grow at a rate 3 times faster than those under 50 years of age. “Do you really think it's a good idea to ignore these people?” asks the advertiser. And, despite all this, seniors are only the target of 5% of marketing activity. The reason for this denial of the senior target is nothing more than a reflection of the narcissism of an industry that has surrendered to trends. “Change is inevitable but we need to look at things with perspective and overcome obsessions. “We need to exercise modesty and prudence when it comes to ensuring that we know things that we really don't ,” she says.