Podcast: marketing to the silver economy
Most markets worldwide now have an ageing population, with spending power increasingly gathering with older people. Smart brands are recognizing the spending power of this group, and tailoring their products and comms accordingly.
The Drum's senior reporter Chris Sutcliffe is joined by Kristen Nozell Bornstein, vice president of human insights, Known; and Richard Trigg, design partner at Tangent, to discuss the following:
- Older people are typically unrepresented in most advertising, with some notable exceptions. Where does that lack of representation come from?
- By contrast, where are we still seeing advertising targeted at older people? Which sectors and mediums still focus upon older people?
- Are digital tools and personalisation picking up the slack at all? Why/why not?
- Worldwide, wealth is disproportionately concentrated in the hands of older generations. What impact is that having on marketing aimed at those cohorts?
- What needs to happen in and around the marketing industry to make it more representative of older people?
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Known is a modern marketing company that pairs Ph.D. data scientists with award-winning creatives, expert research teams and strategists who leverage machine learning, AI and the company's proprietary media operating system, called Skeptic. Known is anchored by two decades of groundbreaking market research and data science capabilities, which uniquely empower our marketing strategy and acclaimed creative groups, who produce some of the most innovative, cutting-edge creative work in culture. The result? Marketing that is predisposed to succeed and be persistently optimized, directly impacting clients' bottom lines.Find out more
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