Welcome, Guest [Sign In]

January 26, 2004 - Strategy Magazine
Special Report: Market Research

The mysterious senior
As researchers finally cast their nets older, they're finding savvy, experienced 57-year-olds - who think they're 42

by Sara Minogue
page 15

An oft-cited reason for the dearth of consumer advertising targeting the 50+ demographic is that advertising agencies are too young to understand a target market over 30. No wonder: The market research just isn't available.

"Everybody's been talking about baby boomers and the aging of the markets and the population bubble and the egg moving through the anaconda, but the reality is that not many are dealing with the psyche of that age group," says Rick Padulo, chairman and CEO of Toronto's Padulo Integrated and its specialist arm, Boom Communications.

But that could change. John Tabone, president of the Professional Marketing Research Society, has already seen "increased activity" in this demographic, which he sees as a growth area for the industry.

As manager of innovation for the Canadian Institute of Chartered Accountants, Tabone has also been on the buying end of the research business. He recently commissioned Toronto's Research Dimensions to do custom focus groups that would determine the best way to position accountants to wealthy seniors through a new product called Prime Plus.

Maureen Maclachlan, president of Vancouver-based Age Matters Communications, says that marketers in areas that are most active in the seniors market - including the housing, pharmaceutical, cosmetic and travel sectors - are already doing a good deal of custom studies.

"They're very savvy about going in and doing focus groups, talking to family influencers, looking at the demographics, looking at what the competition is. Industry research is going in; it tends not to be available in the public domain."

Michael Caine, president of Toronto-based AM740, the largest Canadian radio station targeting the 50+ demographic, has had his share of difficulties finding research to convince advertisers to buy into his station, in spite of the fact that the station leaped to fifth place in the market in its very first ratings period in spring 2001 and continues to reach 534,200 people a week (says BBM Canada) with its "all-time favourites" format.

"There isn't a lot of demographic or psychographic information," Caine says. "What I've had to do is rely on my own research ability in terms of collecting data and articles. [Boom Communications] had been doing the same thing. Now we're starting to work together."

Researching this market presents its own unique challenge. Lindsay Meredith, marketing professor at Simon Fraser University in Burnaby, B.C., says senior citizens (65+), "are a tough animal to study."

"No, you aren't going to give them a 25-page questionnaire. What you have to have is a real nice, real friendly woman sit down and ask them questions and above all, it has to be somebody they can talk to. I'm not saying you have to dumb this down. If you do this right, you can have lots of seniors who are happy to pick up computers."

Maclachlan agrees that this can be tricky. "Folks in their 60s and 70s and even some into the early 80s are out there shopping, they're travelling, they're good consumers, they're involved in recreation, they're involved in fitness.

Quick Search