Does your marketing take account of the growing number of over 65s?

Customer service feedback

When I encourage businesses to take account of an ageing population to boost their success, I’m not talking about getting rich quick from a captive audience.

What I believe businesses in any area should be doing is understanding the changing marketplace and making adjustments accordingly.

Take going online. There are around 4.5 million over-65s in the UK who are not online. Why? They may not have the skills, they’re very rightly worried about security, or they may struggle with the dexterity, vision or memory that makes online shopping, banking or using any services difficult. Or, like my dad, they may simply refuse to go any further than an electric typewriter.

So financial institutions, retailers, utilities and more can go one of three ways. They can ignore the changes in the shape of their market. They can take an opportunity (as many are already doing) to make more money by charging more for offline transactions and argue that they are simply covering costs.

Or they can take a hard look at how they interact with their market and make adjustments to win more share through a better experience for all. It’s a losing strategy to assume that everyone of any importance has a mobile phone and a Facebook account, or is even internet-enabled. More worthwhile is to think about which channels work best for different segments of the population. Which messages are most relevant to this growing older audience? How can you demonstrate that you are a credible provider while protecting your customers from those who seek to steal and destroy?

We’re always talking about the customer experience and how customers expect the best. Older people deserve the best too, and that’s a long-term strategy for businesses who want to stay around and build their reputation wisely.

 

 

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