Marketing Personas for Aging Services
80 year old family caregivers
The sandwich generation is older. Now it’s retired people caregiving for elderly parents.
The very old are the fastest-growing group in most developed countries, with an expected increase of +51% of elders age 80+ between 2010 and 2030. Two-thirds of these very old have advanced-aged children, who typically serve as their primary caregiver.
One 80-year-old said, “I don’t have a life because I’m caring for my mother.”
Boomers with no kids band together
Among baby boomers, the rate of solo agers is ~20%.
With more people now choosing to forgo parenthood altogether, the number of so-called “solo agers” is only projected to rise. They typically have more freedom of choice when it comes to where they’ll live. They are drawn to co-housing and the village movement. This group will have few family care-givers, and must pay for in-home care. This care can be shared among their community members.
Single women don’t give 5-star ratings
Women who are living with a partner — single, divorced or widowed — have 20% of customer accounts in financial services firms.
They are discerning, and give lower marks to financial “stores” than other consumers. Women living on their own are an interesting marketing persona to develop.
LGBT feels ‘invisible’ in advertising
66% of respondents feel there aren’t enough LGBT+ people shown in marketing campaigns.
52% consider the LGBT+ community to be “invisible” in advertising.
Changing the financial habits of LGBT
The purchasing power of the LGBT community in the U.S. is near $1 trillion. They are shifting money habits. Historically, they have been high spenders and low savers.
Aging Marketing Rant
You have a bistro? How cute.
If I read one more brochure or website advertising that WE have a BISTRO! Please. It’s like saying, “Look at me. I have a smartphone!” The “money shots” are always lobbies, courtyards, fitness centers, bistros! What about showers, kitchens, closets, shelves, private balconies, windows, lights, thermostats? Alexa?
People DO use technology
Popular studies about “caregivers” use of technology — or lack thereof — are ill-defined. A Caring.com study defines “technology” as apps. But there are other types of technology.
83% of younger boomers aged 51-59, the prime age of caregivers for the elderly, are Internet users, 59% are smartphone users, 66% have broadband at home, and 52% use Facebook.
25% of remote family caregivers — who live separately from a care recipient– use a Personal Emergency Response System.
“Family and professional caregivers are harmed by the narrow-casting questions, simplistic surveys, examples and continuous repetition about non-adoption.”
High-tech is more than apps
Integrated fitness systems, resident locating technology, and telehealth are among the tech that residents and their families find most beneficial.
3 Untapped Technologies With High Value in Senior Housing
Medical supplier to buy 20 to 30 agencies
Briggs — a well-known name in the medical supply and medical form space — wants to acquire 20 and 30 home care operations. Its targeted acquisitions are businesses in the $1 million to $1.5 million range in a market with room to grow.
2 big “listings” websites combine
All 17,000 senior housing and senior care listings from A Place for Mom (APFM) soon will appear on SeniorHousingNet.com, and visa versa.
Workforce + Recruiting
Recruit millennials by creating meaning
Emerging leaders in the field of aging have banded together to raise awareness about career opportunities. The goal of their campaign — “Connect the Ages” — is to inspire 5 million students to pursue these opportunities by 2025.
Seek employees with no “senior” experience
Companies that used to only hire people with experience in the industry are changing their tune due to the pool of qualified workers drying up. In-depth training so new employees can get to know the industry while getting paid an executive director salary. “We’re fooling ourselves if we think people are working for us for our brand. Most people stay on board because of their supervisor.”
Employees want customized bennies
It’s not about just medical, dental and vision anymore.
74% of employees say that benefits customized to meet their needs is important when considering taking a new job.
Benefits customization is even more important than the ability to work remotely.
Design jobs for older workers. Singapore does
Singapore is tapping into its relatively healthy, very educated, skilled section of the population that is being cut out of the US workforce.
The biggest concern with older workers for employers is whether employers think they will get their money’s worth. Redesigning jobs with simple fixes allays these fears.
Americans in debt for student loans, cars
Mortgage debt was 71% of household debt in 2016, vs. 79% in 2008.
Student debt was 10.4% of household debt, more than double 2008.
Auto loan debt was 9.2%, one-third larger than 2008 share.
Investing in aging: cruises, botox, 7-11 stores
Investors can still get rich from “aging.” This profiles “aging in Asia” —
1) Asian cruise passengers have tripled. Traveling on a cruise ship might be “more comfortable” than air travel for older people.
2) Convenience store for less-mobile customers preferring to travel shorter distances to get meals and daily necessities.
3) An increase in discretionary spending on lifestyle and “well-being” related goods and services creates investment opportunities in Botox injections and cosmetic products.
Elderly Asia means end to growth
Many Asian “tigers,” which followed Japan’s model, are saddled with a fertility rate so low that, over the next 35 years, they will join Japan as among the most elderly nations on earth.
By 2030, according to the United Nations, Japan, still the world’s third-largest economy, will have more people over 80 than under 15.
Health & Wellness for 50+
A geriatrician reads Cicero
Cicero wrote this in 44 BC, before he was executed at age 63 for his alliance with Julius Caesar’s assassins.
Modern medicine is largely structured upon preservation of life at all costs and incurs needless suffering in advanced age.
Ending silence on Elder Abuse
The Lima, Ohio Area Agency on Aging held an art show on elder abuse, and scored a PR win by cutting through the noise with a good cause.
Local survivors of elder abuse expressed their emotions and told their stories through the show, called “Awakenings.”
Link between retirement and alcohol abuse
Alcohol is the most common form of substance abuse by older adults. Nearly 3 million Americans age 55 and older suffer from alcohol abuse; by some estimates, that figure will reach roughly 6 million by 2020.
Individuals deny that they have an alcohol difficulty because only dependence is considered by them as a problem.
Aging Advocacy Toolkit
The way Americans currently think about aging creates obstacles for older adults. Check out this Gaining Momentum, a toolkit to reframe aging
Get recognized in Aging
Are your executives or employees applying for high-profile recognition within Aging? Consider these:
- Next Avenue’s 2017 Influencers in Aging.
- The Encore Prize, aimed at mobilizing adults 50 and older to help young people thrive.
- The AARP Purpose Prize, for people 50 and older whose outstanding work is “focused on advancing social good.”
Stanford recruiting wealthy 50+
Growing numbers of baby boomers want to return to school after making their mark in their chosen profession.
“Fifty years from now, no one’s going to think of universities as places just for people in their teens and 20’s. If you’re going to live to 100 or older, you’re likely going to have to return to school several times as an adult to learn what’s new.”