The 50 Rule for 50-Plus People
There is no question that ageism is practiced in statistics and surveys. Yet cutting out “older” people from media buys or images of gray-haired people from marketing materials is a mistake. Lumping together all people ages 50-plus as some kind of homogeneous group is a demographic planning disaster. The group may not be homogeneous, but if you want to remember something about 50-plus, it is the number 50.
Don’t ignore the power of the 50-plus force. If you miss the 50-plus audience, then you are missing the audience cohort that is responsible for more than 50% of all consumer spending in the U.S.
There are nearly 110 million people ages 50-plus. AARP reports that this group has strong earnings, less debt, spends more, loves tech, buys more than half of all the cars, shops online and is connected.
The group is also media ambidextrous. The cohort watches TV, watches online, reads magazines and listens to the radio. Nearly 75% use social media, and consumers 50-plus constitute half of all spending on audio-visual equipment, appliances and entertainment.
If you’re not including 50-plus in your marketing, then you’re missing more than half your audience and more than half the money. That means that 50-plus is 50% of your future success.
Mark Mathis III is chief creative & strategy officer, partner and cofounder of AMPERAGE Marketing & Fundraising.