Digital Dealer - September 2019 - 48

S A L E S & VA RIABL E OPS: Co n su m e r Insi ght

By Jim Boldebook
Founder,
CBC Automotive Marketing

Reaching the
Older Consumers
Full disclosure: I'm one
of the 'older consumers'
who thinks a lot of advertisers are missing the target
on the largest group of
people with the most
money, the most homes, the
biggest assets, and the
people who not only buy the
most cars - but the most
expensive too! The 50-yearold plus households!
A 'Marketing Insider'
post titled, "The Increasing Insanity of Marketers'
Indifference Toward Older
Consumers," (1) written by
the head of research for
AARP, Mark Bradbury, did
a great job of laying out the
monetary metrics of the plus
50 households versus the
under 50. For starters there
are more of us - almost
eight million more than the
under 50 households. But
the most important metrics are more revealing.
Older households own more
homes and have less mortgages, freeing up money
to buy more stuff, and have
better credit to get approved
to buy more stuff.
By 2020, the world will
have more 55-year-olds
than five-year olds! Older
people will generate half
of all urban consumption
growth between 2015 and
2030! In 2035, older adults
will outnumber children for
the first time in U.S. history!
Most importantly, us 'older'
48

SEPTEMBER 2019

folks are active - hiking,
kayaking, cruising, skiing,
biking - putting thousands
of miles on our vehicles.
So, consider these
thoughts in your marketing
efforts to better reach the
over 50 crowd:
 We're digitally meshed.
88% of those over 50 use
the internet. 73% of those
over 65 use the Internet.
65% of those over 50 are
on Facebook. 40% of those
over 65 use Facebook!
31% of all online shopping is done by those over
50 with higher ticket averages and more frequent
re-purchases.
 We still like to get mail!
Even though most people
over 50 are big email users
(as well as instant messaging, text, and phone) regular
snail mail is opened, read,
and responded to. And the
older we are, the more likely
we are to read longer letters
with clear explanations of
the offer being made, with
illustrations and examples
of value and benefit.
 We watch TV! The over
50 folks are the ones buying
the biggest flat-screens and
exploring all the streaming
venues, so OTT advertising
presents new opportunities.
 We listen to the radio!
Over 50 folks grew up with
radio. We listen to a lot of
talk radio on both AM and
FM! Write down the station

D I G I TA L D E A L E R . C O M

the vehicle is tuned to
when we visit for service.
We probably listen to that
station a lot.
 We respond best when
you make your message relatable, easy to understand,
'believable,' straight-forward, without a lot of drama
and goofy comedy. We
respond best when you give
us something familiar to
latch onto.
 We're more likely to
follow-up if you give us an
easy path (website link,
phone number, etc.). The
over 50 folks are more likely
than any other age group
to call for more information
on something that interests
them.
 We are more likely to
watch an infomercial than
our younger counterparts.
And we like YouTube. Why
do you think insurance company ads, reverse mortgage
offers, etc., are so effective
on radio and TV? They
are targeted to the over 50
crowd.
Okay, so we're older.
You'll get better response to
any advertising effort if you
make the font on the screen
or in the display ad a little
larger.
Most of us are 30-yearolds with 20+ years of experience. We are interested
in things that make our lives
better, easier, and more
fun. We are value-driven

by nature, but most of us
also recognize the value of
great service and personal
attention.
In comparison to younger age groups, a bigger
percentage of those over 50
still have a sense of loyalty
to those who treat us well
and make us feel that our
business is truly appreciated. Remember, 70% of all
the disposable income is in
our hands!
We all know that the
absolute best advertising
is word-of-mouth, and no
other age group in the
spectrum spreads the word
better than those over 50
when they're pleased with
a product or service. We
make the best ambassadors of any age group!
Notes:
(1)
For a copy of the article
mentioned, email jim@cbcads.com

JIM BOLDEBOOK is founder
of CBC Automotive Marketing,
an advertising/marketing agency
working with some of America's
most successful dealerships. He
has been in the broadcasting,
advertising and marketing fields
for almost 50 years. EMAIL:
jim@cbcads.com

A D V E R TI S E R S IN D EX

ADVERTISER
PAGE
AutoSpin..................................... 17
Dealer Specialties....................... 3
Dealer Synergy........................... C3
Dealertrack DMS.........................9
Payment Cloud............................19
Kerrigan Advisors........................ 15
Manheim Inventory Solutions...... C2, 21
Vanderhall.................................. 23
vAuto.......................................... C4
The index to advertiser page numbers
is published for reader convenience.
Every effort is made to list page numbers
correctly. The listing is not part of the
advertising contract and the publisher is
not responsible for errors or omissions.
http://www.DIGITALDEALER.COM
Digital Dealer - September 2019

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