With 25,000,000+ UK consumers aged 50+, Let’s Talk Ageing's Graeme McKenzie argues it’s now time to embrace this audience.
With nearly 94% of the UK advertising industry currently aged under 50, based on the 2021 IPA Agency Census, it can be difficult to relate to this highly complex and diverse older audience. It’s hardly surprising that up to 85% of older consumers feel that advertising isn’t relevant to them – so how do we go about changing this perception.
A good place to start is to consider this audience not as one vast group of 50+ individuals, which we can be all guilty of doing at times, but to recognise that there are many different cohort groups, each with their own subtle, but distinctive behavioural traits and attitudes.
By segmenting the 50+ audience into specific cohort groups, it allows us to better understand their needs and goals, as well as being able to communicate with them more effectively.
Whilst there are many constantly evolving cohort groups within the 50+ audience, three distinct groups can be identified and to optimise engagement and response with these groups, it’s essential to build in targeted plans using multi-channel strategies.
Numbering over 12,000,000, this group can mostly be classified as risk-takers. They are time-poor and impatient, the majority are still in full-time employment but fearful of losing their jobs. They continue to repay mortgages and financially support children, and are able to take regular exercise, with many leading a relatively healthy existence.
Numbering over 6,500,000, the majority of this group are recently retired or established retirees, many have paid off their mortgages, enjoy learning new experiences and spending more time with their family. Many reduce their levels of regular exercise and have increasing levels of poor health.
Numbering over 5,500,000, the majority of this group are low-risk takers, having been brought up in a period of austerity and thriftiness. They have a strong desire to be independent and not a burden on society, with many experiencing increasing levels of poor health, care needs, loneliness and isolation
Let’s banish the stereotype view of the 50+ audience and build lucrative relationships with them in the future
So, to connect and engage more intelligently with this highly complex and diverse audience, it makes sense to take steps to segment this audience into specific cohort groups.
Communicate with them with more targeted and relevant messages and by using channels that your audiences prefer, your clients are more likely to experience more lucrative results because of this.
Graeme McKenzie is Director of Let’s Talk Ageing, who will be speaking at the IPA session 'Representing over 50s in advertising' on 13 July.Free for members - reserve your space
The opinions expressed here are those of the author and were submitted in accordance with the IPA terms and conditions regarding the uploading and contribution of content to the IPA newsletters, IPA website, or other IPA media, and should not be interpreted as representing the opinion of the IPA.