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Presenter: Curtis J. Alcock Founder of Audira » Think Tank for Hearingwww.audira.info
!Ted Annis
Senior Marketing Specialist
!Suzanne Hill Professional DevelopmentProject Supervisor
! IHS Organizers:
Welcome to MARKETING TO BABY BOOMERS
(It’s not what you think!)
Housekeeping
▪ This presentation is being recorded
▪ CE credit is available!Visit ihsinfo.org for details
▪ Note taking handouts are available atihsinfo.org on the webinar page.Feel free to download now!
Agenda
▪ Why is the Baby Boomer market so importantfor us as hearing care professionals?
▪ Why our profession is still not Boomer-‐Ready.
▪ Becoming Boomer Relevant –Seeing world as a Baby Boomer
▪ Building a Boomer-‐Ready marketing strategy
▪ Q&A (enter your questions in theQuestion Box any time)
The Baby Boomers are coming!
They will save us!
WHY BOOMERS ARE IMPORTANT
AVERAGE
What is a Baby Boomer?
6
76 million babies!
Baby Boom!
US Births 1925 to 1975
Youngest turned 50 in 2014
2nd World W
ar
Oldest turns 69 yrs in 2015
Disproportionate influence on Society
What’s the Big Deal with Boomers?
7
76 million people
Around a quarter of US population
70% of discretionary
income !
=$1.2 trillion (approx $15,000
per capita)
+
What’s the Big Deal with Boomers?
7
76 million people
Around a quarter of US population
70% of discretionary
income !
=$1.2 trillion (approx $15,000
per capita)
Redefined for
Society
+ =
Relevance
Interest !
Peers !
(R.I.P.)
+
Older
YoungerBusinesses and whole
industries rise up (or fall!) because of Boomers’ needs and desires
x5
Birthing Fads and Industries
8
x15
As seen on TV
I wantone! All my
friends have one!
I want you to have
everything I couldn’t
Relevance Interest Peers
Birthing Fads and Industries
9
x3
x3
“How can I stay healthy?”x6
Birthing Fads and Industries
x18
“Is theresomething
more?”
The Boomers Are in the Building
11
Every 7-‐8 seconds another Boomer turns 60
(and will continue to do so for the next 10 years)
1 hour pack
Box of 450
What’s the Big Deal?
12
76 million people
Spending Power Redefine
it forSociety
+ =
Relevance
Interest !
Peers !
(R.I.P.)
+
Older
Younger
Hearing
Hearing Devices Sold (1984-‐2024)
2 million
1 million
3 million
5 million+
Average of200,000 extra units a year (predicted)
Marketing Strategy?1 Keep doing what we’re doing.
2 Sit back.
3 Wait for orders to come in!
But wait a minute…
1. People reach an age when they take action?
2. Boomers will act similarly to their
parents?
3. Boomers will
accept our image of them?
ARE WE READY FOR THE BOOMERS?
– New experiences– Travel– Socialising– Technology– DIY– Dating– Volunteering– Aquatic activities– Computer games– Extreme sports– Enjoying music– Career changes– Staying fit– Education 16
False Assumption #1
Instead:
Think “30 year old”
(with 20 years+
experience)
Same person today as yesterday
False Assumption #2
17
Baby BoomerStatus Quo
Luke, I am your father.
False Assumption #3
18
Welcome to your new social identity.
Hearing impaired Retired
Old
Going
deafSenior Over 60s
DisabledYou really expect me to go in there?
Here’s your key.
• 80% of us will continue working.
• We’re twice as likely to start a newbusiness as “Millennials” (18-‐34 yrs).
• We’re going back to school to getgraduate and professional degrees.
• We’re very active on social media.
• A third of us are single.
• A quarter of us are looking for romanticconnections.
• Many of us are looking after our kids,or our parents, or both!
• Many of us want to give back to society.
The Reality
19
So how will you fit around me?
Our parents are “old”. We’re middle-‐aged!
Is Hearing RELEVANT to Boomers?
50% of all Boomers report hearing difficulties
(2005-‐06-‐06), Baby Boomer Men More Prone to Hearing Loss, Health & Medicine Week, 930, ISSN: 1532-‐4605
But most of us haven’t even sought advice!
Even fewer of us use hearing
technology
Yet many of us know it affects our work & home
RELEVANCE INTEREST PEERS
BECOMING BOOMER RELEVANT
Seeing Through a Boomers’ Eyes
What Boomers want today Our products and services must be tailor-‐made around
what’s important to them now.
Seeing Through a Boomers’ Eyes
A Boomer’s formative years Early experiences shape many of our enduring attitudes, perceptions and emotions.
Ready for the future How can we help them reduce
future risks and fears?
PRESENT
PAST
FUTURE
1950s
“Everything Specially Made for Us”
23
Too many children!
Period of affluence!
1950sNew towns!New houses!New appliances!
“Everything Specially Made for Us”
23
New schools!New text books!New cars!Too many children!
Period of affluence!
Time of peace Time of optimism Time of affluence Time of technology
“You’re a Special Generation!”
24
You are better educated You are better fed You are healthier You have more to spend
TV gave Boomers a shared experience, values and worldview
Time of peace Time of optimism Time of affluence Time of technology
“You’re a Special Generation!”
24
You are better educated You are better fed You are healthier You have more to spend
Advertising gave Boomers shared interests and purchasing power
“You’re a Special Generation!”
24
Ask not what your country can do for you-‐-‐ask what you can do for your
country.
Current affairs gave Boomers a shared cause and sense of purpose
“There’s always more to life.”
“Make the world a better place.”
What now?
25
Oldest Baby Boomer was 17
What now?
25
26
27
Youth of the world united!
28
Racial inequality and injustice!
29
Gender and social inequality!
30
Stand up for what is right!
31
A world that needs to change
32
We can achieve the impossible!
33
This is it! It’s happening!
34
We can change the world!
35
They will try to crush us!
36
Don’t trust the status quo!
37
So… REDEFINE the status quo!
38
Why accept the status quo when you
can redefine it?
Lessons of a Boomer’s Formative Years
To effectively market to Boomers, hearing care andhearing technologymust come to symbolise their values
and EMPOWER them to REDEFINE the world
We must create our own destinies whilst we can
Anything’s possible through technology & connecting with others
CREATING A MARKETING STRATEGY
Redefine the Status Quo
40
The Status Quo tells Boomers… • You’ve had your time
• You’ve grown old
• You should retire
So the message of hearing care is:
But they have far more to
accomplish yet
• You’re the same today as yesterday…• But now you have this incredible wealthof life experience that few can match.
• Which means your time has come.• With our technology and your connectionsanything’s possible. It’s the power to be you to be yourself.
Message: Create your Own Destiny
41
When today comes without a replay button, tomorrow arrives too late.
The moment is now.It’s yours for the taking.
Hearing. Redefine tomorrow.
Message: Anything is Possible
42
They will tell you it isn’t possible.
But when you’ve seen a man walk on the moon, everything else is just
working out the practicalities.
Hearing. The power to write our own future.
Education & Self-‐improvement
PlayDating
Work
Changing the world
Caring for others
What Associations Should We Build?
Hearing impairment
Hearing
Growing old
Staying young
Incapable Dependent Frail Unattractive
Capable Independent Virile Attractive
AVOID!
APPROACH!
44
Today I will google “hearing aids”.
Hearing is relevantto all of these things!
44
Staying healthy
Travel & eating Out
Connecting with others
Caring for loved ones
Staying effective at work
Relevance of Hearing for Boomers
45
Hearing and the Healthy Brain
Hearing in the Workplace
Hearing and Relationships
Relevance of Hearing for Boomers
45
Hearing and Noise
Hearing and Travel (language)
Hearing and Eating Out
Relevance of Hearing for Boomers
45
Your parent’s hearing
Your partner’s hearing
Your teenager’s hearing
Don’t sell… Educate and Entertain and give them stuff to talk about with their peers
(i.e. “social currency”)
Our Twofold Objective
46
NORMALISE“Routine hearing
checks throughout life”
NORMALISE“Hearing technology–
to keep hearing at its best”
Not because of hearing loss
Not because of age
But to MAXIMISE and MAINTAIN health, wellbeing and human potential
Linked to “eyes & teeth”
checked
Linked to making “situations” easier, not a condition
Provide Risk-free Opportunities
47
Boomers like to experiment, experience & explore.
Give them these opportunities or they will look elsewhere.
Fit Around Their Schedule
48
Boomers live busy lives. Make it easy for them to see you.
I’m not sure about this tymp reading!
DOs and DON’Ts
49
Don’t stereotype Don’t poke fun
Don’t show people 55+ (even in testimonials!)Boomers (and older!) relate more to models 10-‐15 years
younger than them (i.e. 35-‐45 years is safest)
If Boomers respond to such marketing, they will look bad in front of their peers and others
DO make it AGELESS– i.e. not specific to Boomers
DO make it about all peoples – it could be you!
DO make it about individuals– no one likes to be “boxed”
DO engage in dialog– create solutions in partnership
DO respect your audience’s intelligence– they’ve normally done their homework!
DOs and DON’Ts
50
CaucasianAfrican AmericanAsianNaove AmericanHispanic
“Personal power is developing – power of the individual to conduct his own education, find his own inspiration, shape his own environment, and share
his adventure with whoever is interested.”
From the Introduction
Having the best possible hearing throughout lifeempowers Boomers to achieve exactly this.To be all they CAN be. To be all they WANT to be.
Our marketing strategy is to get Boomers to see that for themselves. They’ll do the rest. They always do.
http://www.wholeearth.com
• Marketing to Leading-‐Edge Baby Boomers: Perceptions, Principles, Practices, Predictions – Brent Green (2003). Paramount Market Publishing, Inc
• Turning Silver into Gold: How to Profit in the New Boomer Marketplace – Mary Fulong (2007). Financial Times Press
• Great Expectations: America and the Baby Boom Generation – Landon Y. Jones (2008). Kindle Book. (First published in 1980)
• In Search of the Baby Boomer Generation – Rick Bava (2015). Motivational Press, Inc.
• The Me Generation… by Me – Ken Levine (2012).
• Baby Boomers and Their Parents – George P. Moschis and Anil Mathur (2007). Paramount Market Publishing, Inc
• MetLife Mature Market Institute – https://www.metlife.com/mmi/index.html
• http://www2.census.gov/census_2000/datasets/demographic_profile/0_United_States/2kh00.pdf
• http://health.howstuffworks.com/wellness/aging/baby-‐boomers/10-‐popular-‐baby-‐boomer-‐activities.htm
• http://www.hearingreview.com/2015/05/introduction-‐marketrak-‐ix-‐new-‐baseline-‐hearing-‐aid-‐market/
• http://www.marketingcharts.com/uncategorized/baby-‐boomers-‐control-‐70-‐of-‐us-‐disposable-‐income-‐22891/
• http://info.4imprint.com/wp-‐content/uploads/1P-‐19-‐1013-‐Marketing-‐to-‐Baby-‐Boomers2.pdf
References and Further Reading
Questions
Enter your question in the Question Box on your webinar dashboard
THANK YOU FOR ATTENDING!
Contact Curtis Alcock: [email protected] Visit www.audira.info !
For more info on obtaining a CE credit for this webinar, visit www.ihsinfo.org
