Savvy Boomers Age 55+ Continued... Page 2

 

Dynamic Retirees (Ages 62 to 75)

 

This group is more active then ever before, doing things previous generations didn’t consider. Many use computers, cell phones and tablets. Many are still working.

 

They also travel and are looking to have more fun. Many will say that age is only a number. They are proud to be grandparents and will do just about anything for the kids. They are more concerned about living healthy. They also are proud and can be demanding consumers. They also react positively to personalization. They feel their name is important. However, there are segments in this group that have health issues and are more conservative consumers. They are also more

loyal except when it comes to money. To market to Dynamic Retirees, it is more efficient to define and target the more active members in this group based on the financial products and services they use. In fact, targeting the 62 to 68 segment in this group is usually more effective.

Seasoned Seniors (Over 75)

 

They are old, they know it, and most carry the label proudly. They have paid their dues more than once They deserve and often demand respect. They will use fewer services and expect that the services they do use have value.

Some require more personal service than others. Most are discount driven and like money-saving offers. They are generally more loyal, but will move their money elsewhere if the savings difference is significant.

 

It's also important to note that older consumers are continuing to join the Internet community. For example, consumers in the 55 to 64 age group has increased as a percent of the total Internet audience from 9.5 to 11.3 percent. The consumers ages 65 to 74 have increased from 4.6 to 5.4 percent. And consumers in the 75 plus group from 12.1 to 15.9 percent.

Target Who They Are...

 

Because there are differences, consider targeting the three primary segments separately. Also consider that members 55 and older may still have children in college or children getting married; have travel, retirement and housing plans, or may be caring for an elderly parent. Whenever possible, you will get a better response when you target your reward and product/service offer to their life events.

Loyalty May Not Matter...

 

​​Remember that older current and potential members may be less loyal – they want to know what’s in it for them. Always promote the benefits more than the features of a product or service. If you don’t provide what they need or want, they will go elsewhere. It’s also important to remember that women

 

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