The agency for grownups, by grownups
Read the Q&A
Their numbers are growing and they are well off financially. Yet the marketing world treats them as stereotypes or ignores them entirely. Who are we talking about? The 55+ consumers.
How did the idea arise to build an agency specifically for the 55+ generation?
“It’s the straightforward consequence of objective reality and the numbers on purchasing power. It’s a fact that people who are 55 or over will represent about 40% of the population by 2020. This – in combination with the reality that the age group has well above average purchasing power – is the base of our idea. Never before in history has there been such a large group of consumers with such a high disposable income.”
Why are people over 55 misperceived by the marketing world?
“That’s due to total miscommunication. People over 55 are not taken into account by marketers. I myself experience it as well. I am mostly targeted with advertising about hearing aids or funeral insurance and such. People communicate with 55+ consumers as if they cannot move anymore or are close to death, even though they are the most important consumer group when it comes to travel or the hotel and catering business, for instance! As a result, this lack of empathy causes 72% of women over 55 to stop paying attention to advertising altogether, according to recent market research.”
Why is this generation overlooked?
“There are two reasons. Firstly, it’s because the advertising and marketing worlds romanticize the past. They still work from the premise that if you bring in clients when they are between 15 to 25 years old, you’ll have them for life. But nowadays, loyalty doesn’t exist anymore. It’s an old pipe dream that has become a total illusion. Secondly, advertising agencies or creative departments are stacked with millennials and they understandably don’t have much perspective on what it means to be 55+.”
What is so different about targeting the 55+ age group?
“They are not as digital as others but that doesn’t mean digital isn’t relevant to them. In the US for instance, across markets, people over 50 show the highest conversion rate for Facebook advertising. They consume more television and radio compared to younger age groups.
What’s so unique about them too is that things don’t have to move at hyper speed. They take their time to get informed properly. Communication that wants to create a false sense of urgency, such as ”Only two rooms left” or ”Today only: 20% discount” simply has less effect on them. Clarity and authenticity matter much more.”
What is Yconik bringing to the table?
“As an agency for grownups, by grownups, we are advising mid- to large-sized companies on a strategic level, as well as delivering creative and digital work. We are people with 30 to 35 years of business- and marketing experience and an ongoing passion for it. As part of the target demographic, we have 100% empathy with these consumers. Furthermore, we’re experts that have been through good times as well as through recessions and consequently know how to cope with all situations. Thus, we don’t get mesmerized by the latest fads; we ditch outdated stereotypes and aim for a better, more personal engagement.”