{"id":4810,"date":"2023-04-21T01:07:08","date_gmt":"2023-04-21T05:07:08","guid":{"rendered":"https:\/\/advertisingweek.com\/aw360\/2023\/04\/21\/aging-america-golden-opportunity\/"},"modified":"2023-04-21T01:07:08","modified_gmt":"2023-04-21T05:07:08","slug":"aging-america-golden-opportunity","status":"publish","type":"post","link":"https:\/\/advertisingweek.com\/aw360\/news\/aging-america-golden-opportunity\/4810\/","title":{"rendered":"Aging America = Golden Opportunity"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>By Ken Klein<\/em><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Older Americans control 70 percent of disposable income. Reaching them is both an advertising imperative and career opportunity in a culture that puts youth on an altar, says a new college textbook.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">For starters, don\u2019t call Boomers \u201cold\u201d because they don\u2019t see themselves that way (\u201c<a href=\"https:\/\/rowman.com\/ISBN\/9781538175156\/SilverComm-Marketing-Practices-and-Messages-for-the-Age-of-Aging\">$ilverComm: Marketing Practices and Messages for the Age of Aging<\/a>\u201d published in 2023 by Rowman &#038; Littlefield, Lanham, MD, as an auxiliary textbook for college marketing instruction.)<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">This textbook, by Ohio University Professor Emerita <a href=\"https:\/\/www.ohio.edu\/scripps-college\/journalism\/about\/emeriti-faculty\/cooper\">Anne M. Cooper<\/a> and University of Texas Rio Grande Valley Associate Professor Young Joon Lim, makes cogent points for advertisers:<\/p>\n\n\n\n\n<ul class=\"wp-block-list\">\n \t<li>Follow the money<\/li>\n \t<li>View the aging trend in America as a career cornucopia for young marketers\/communicators, not a bed-pan turnoff<\/li>\n \t<li>Figure out how to communicate to older audiences<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Follow the money<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">Seniors control half of of consumer purchases and 70 percent of disposable income but most current marketing campaigns devote less than 10 percent of their budgets to this market, the new textbook says.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">America\u2019s sagging birth rate and increased longevity are producing an aging population. The initial wave of 78 million Baby Boomers has turned 75. By 2030, adults 65 and up will account for one-fifth of the U.S. population.<\/p>\n\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Career opportunity<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">The authors point to the overwhelming association of senior citizens with advertising for medical products and services. Gerontology is booming, so young professionals should consider careers in that niche in advertising, public relations and more.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">AARP\u2019s magazine readership is 37 million; its marketing\/communications executive VP earned $650,000+.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Marketing and community relations for the growing senior-living market (nursing homes, assisted living, continuing care retirement communities) is top priority for management.<\/p>\n\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Messaging vs misfiring<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">In the U.S. culture, \u201cold\u201d and \u201celderly\u201d are considered derogatory. Seniors say advertising relies on outdated stereotypes.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The year 2017, these authors claim, was pivotal for senior advertising. <a href=\"https:\/\/youtu.be\/eGYlxORSu1o\">Mercedes-Benz\u2019 Super Bowl ad<\/a> featured \u201cEasy Rider\u201d star Peter Fonda, then 77, driving off in a luxury car \u201cbuilt to be wild.\u201d The audio was Steppenwolf\u2019s classic-rock anthem \u201cBorn to be Wild.\u201d<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Cover Girl featured Elon Musk\u2019s mother Maye, born in 1948. Honda\u2019s \u201c<a href=\"https:\/\/youtu.be\/4Vkuc7NfGus\">Power of Dreams<\/a>\u201d Super Bowl ad included aging actor Robert Redford and comic book creator Stan Lee, born in 1922.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">No analysis of senior marketing can overlook <a href=\"https:\/\/youtu.be\/oMeulTWdqiY\">Viagra pitchman Bob Dole<\/a>, a plain-spoken Kansan looking into the camera talking about courage. Yes, Dole is included in $ilverComm.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">But another celebrity connects key points in this new textbook: follow the money, look for career opportunity in the senior market and calibrate the message.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Singer-songwriter Jimmy Buffett, born in 1946, converted his 1977 hit song \u201cMargaritaville\u201d into a brand that includes retirement villas in Florida and South Carolina . . . \u201cthe pursuit of fun\u201d based on emotion.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">This book \u2014 like many academic offerings \u2014 is laden with metrics. One number stands out: Buffett\u2019s Margaritaville branding (lodging, food and more) generates $1 billion+ in annual sales.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About the Author<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><em>(en Klein @kenj_klein is former Executive Vice President of the Out of Home Advertising Association of America; he serves on the Dean\u2019s Advisory Council at Ohio University\u2019s Scripps College of Communication.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Older Americans control 70 percent of disposable income. Reaching them is both an advertising imperative and career opportunity.<\/p>\n","protected":false},"author":7,"featured_media":4811,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","editor_notices":[],"footnotes":""},"categories":[1],"tags":[4],"topics":[2],"class_list":["post-4810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-culture","topics-editorial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Aging America = Golden Opportunity | AW360<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advertisingweek.com\/aw360\/news\/aging-america-golden-opportunity\/4810\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aging America = Golden Opportunity\" \/>\n<meta property=\"og:description\" content=\"Older Americans control 70 percent of disposable income. 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