Mature Market Experts Gem of The Day: Receive Special Reduced Rate At DC Conference!

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Mature Market Experts: more mature market news and stats more often – Mature Market Experts Members Receive Special Reduced Rate At DC Conference! Joining Market Experts is Free, and the benefits are awesome. Members receive special rates on conferences like Hot Trends In Marketing To The Boomer and Mature Consumer which is now just $295! Here’s where to register. I’ll (Tom Mann of TR Mann Consulting) be there . . . more importantly, there’s an incredible lineup of speakers:

New Insights for Companies and Their Agencies
Targeting Boomers and Beyond

A Workshop Sponsored by the International Mature Marketing Network
and the Market Research Global Alliance

May 15, 2009 in Washington, D.C.,
at the Marriott Residence Inn Arlington – Pentagon City*

• Hot Trends in Marketing to the Boomer and Mature Consumer
• Breakthrough Strategies
• Case Studies
• New Ideas
• Solutions to a Recession Economy

About this special one day event:

The workshop provides new insights into how to develop new products and services in these challenging economic times. Attendees will hear from some of the leading experts and thought leaders on how to build successful relationships in this fastest-growing demographic segment which has its unique combination of needs.
Our culture places a premium on “youth”. However, age 50 plus is the fastest growing demographic segment (and will be for the next 30 years). This group more than any other generation before them is highly focused on the brands that satisfy their unique combination of needs.

Receive practical advice, case studies and actionable research. All in an exclusive setting limited to 130 participants designed to maximize networking opportunities with key decision makers.

You will learn how to:
• Segment and reach this lucrative market using new methodologies,
• Develop products and services that reflect the needs and wants of this market,
• Create meaningful and effective advertising messages,
• Market your products and services in even the worst economy,
• Turn the recession marketplace into a unique opportunity for increased sales.

MME Members $295.00 (Mature Market Experts)

Special offer: Register before April 30 at $395.00 and bring a colleague for Free.

 
Please contact Dr. Leslie Harris, workshop organizer, at mmrharris@aol.com.

*Attendees will receive a free copy of
After Fifty :How the Baby Boom Will Redefine the Mature Market or
After Sixty: Marketing To Baby Boomers Reaching Their Big Transition Years

Market Leaders Confirmed as Speakers:

Kevin Lavery
One of the co-founders of Millennium Direct and is currently Managing Director. Millennium is the leading resource of marketing and research services in the United Kingdom for the 50+ population. Kevin is also President of IMMN, an international network formed to provide marketing services to the Boomer generation.

Andrew Nibley
Chairman and CEO of Marsteller, the advertising interactive, event management and production unit of Burson Marsteller, the world’s leading public relations agency. Andy has been a President, CEO or Chairman in four different industries: news, internet, music and advertising.

Sandra Timmermann
Assistant Vice President, MetLife, and Executive Director, MetLife Mature Market Institute. In her role, Sandy is responsible for research, education and consultation on aging and the 50+ market for MetLife and its business partners.

Dr. Carol Orsborn
Senior Strategist with Vibrant Nation.com, an information sharing website for leading edge Boomer women. Carol has provided counsel to over 100 leading companies in a broad array of industries including AT&T, Pfizer Pharmaceuticals, Prudential, The Walt Disney Company, Hallmark and Visa. Dr. Orsborn was also co-founder of Fleishman-Hillard’s FH Boom, the first initiative by a global public relations agency dedicated to helping companies market to the Boomer Generation.

Laurel Kennedy
Founder of the “thinking firm” (part think tank and part consulting) called Age Lessons. She has appeared on national television including CNBC and Comcast TV, and as a keynote speaker before numerous industry and corporate forums. She has consulted for such clients as Johnson Wax, Keebler, Kraft, Kellogg, Quaker Oats, Pepsi and Sara Lee.
*Kennedy’s book “The Daughter Trap” is due out from St. Martin’s Press in spring of next year. Look for it!

Tom Mann
Managing partner of TR Mann Consulting and is a recognized leader in the senior industry. Tom is the managing partner of TR Mann Consulting and is the co-founder of Mature Market Experts. Tom was the Senior Vice President of Advertising for Erickson Retirement Communities. His responsibilities included market research, strategy, budgeting, creative review and media placement. In addition he was the publisher of the Erickson Tribune, the nation’s largest monthly newspaper addressing health, active lifestyles for people 62 plus. His clients include real estate developers, retirement communities, exercise and fitness programs, car companies, magazine publishers, the travel industry, and companies that sell consumer goods or services to the senior marketplace.

Jacob Brown
President of In-Depth Research, a strategic market research company specializing in Boomer/Senior Research, Healthcare Research and Technology Research. In-Depth conducts research for many leading companies, including Microsoft, Tivo, United Healthcare, Intel, Varian Medical Systems, Adobe and Disney.

Todd Harff
President of Creating Results, a strategic marketing, public relations and advertising agency that develops demand for lifestyle-oriented products and services. Todd is a nationally renowned expert in understanding and motivating mature consumers. Over the past 15 years, Creating Results has worked with government agencies, not-for-profits, Fortune 500 companies and entrepreneurs in a variety of industries to build relationships with Boomers and beyond. Some of the clients that have been served include: National Association of Home Builders, Rhode Island Hospitality & Tourism Association, Mystic Coast & Country Travel Industry, Willow Valley Retirement Communities, Potomac Hospital, Ingleside Retirement Communities.

Gerald Linda
President of Gerald Linda & Associates, a 15-year-old marketing consulting firm. The firm provides marketing strategy, planning and research services to a wide mix of large, sophisticated marketers as well as smaller entrepreneurial companies. A second service is adding advertising and public relation agencies with their new business and account planning efforts. And a third service is the provision of Interim Marketing Leadership services for organizations. He is a frequent writer and speaker, whose thinking has appeared in dozens of trade and professional journals. And he has made over 100 presentations and speeches at association meetings and conferences. He also serves on the editorial review board for the Journal of Current Issues in Research and Advertising (JCIRA). And he is the co-author of the forthcoming book, MORE Guerrilla Marketing Research, which will be published by Kogan Page in the first half of 2009

Brent Green
Brent is a marketing communication strategist and consultant with internationally respected expertise in generational marketing He is the author of Marketing to Leading Edge Boomers: Perceptions, Principles, Practices, Predictions. Established in 1986 and located in Denver, Colorado, Brent has received over 50 regional, national and international awards for creative and strategic excellence. The firm has produced programs for a diverse range of clients including The Broadmoor, Total Petroleum, Orange Glo International (OxiClean brand), McDonalds, Blue Cross Blue Shield, The American Water Works Association, The General Merchandise Distribution Council, The American Numismatic Association, Men’s Fitness Magazine, Rodale’s Best Life and Men’s Health magazines, Experimental and Applied Sciences (EAS), FrontRange Solutions, Hewlett-Packard, and the United States Olympic Committee.

Space is limited to 130 attendees, so sign-up now!

Continential Breakfast and Full Lunch will be served.
Hotel is located 2 miles from Ronald Reagan Airport w/ complementary shuttle service.

*Sponsorship Opportunities Available*
Workshop Sponsorship

See you in May!

Details

When: Friday, May 15, 2009 7:30 AM – 5:00 PM

Where:

Marriott Residence Inn Arlington
550 Army Navy Drive
Arlington, Virginia 22202
USA
703.413.6590

Eastern Time Zone

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Hot Trends In Marketing To The Boomer and Mature Consumer

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I’ll (Tom Mann of TR Mann Consulting) be there will you? I’m scheduled to speak at this upcoming event “Hot Trends In Marketing To The Boomer and Mature Consumer” being sponsored by The International Mature Marketing Network and The MRGA Market Research Global Alliance. The event is being held May 15th in DC. Best of all, I’ve arranged for Mature Market Expert (MME) members to get a special rate of just $425 if you register before March 30th (if you’re not already a member, just join up through LinkedIn . . . it’s FREE to join MME). Also, you should know that there are only 125 seats available for this exclusive event. Here’s the list of confirmed speakers:
Kevin Lavery
Executive Creative Director of MillenniumDirect, the leading resource of marketing and research services in the United Kingdom for the 50+ population and President of the International Mature Marketing Network. Kevin will be the events’ lead-off speaker.
Andrew Nibley
Chairman and CEO of Marsteller, the advertising interactive, event management and production unit of Burson Marsteller, the world’s leading public relations agency, Andy has been a President, CEO or Chairman in four different industries – news, internet, music and advertising.
Sandra Timmermann
Assistant Vice President, MetLife, and Executive Director, MetLife Mature Market Institute. In her role, Sandy is responsible for research, education and consultation on aging and the 50+ market for MetLife and its business partners.
Dr. Carol Orsborn
Senior Strategist with Vibrant Nation.com, an information sharing website for leading edge Boomer women. Carol has provided counsel to over 100 leading companies in a broad array of industries including AT&T, Pfizer Pharmaceuticals, Prudential, The Walt Disney Company, Hallmark and Visa.
Laurel Kennedy
Founder of the “thinking firm” (part think tank and part consulting) called Age Lessons. She has appeared on national television including CNBC and Comcast TV, and as a keynote speaker before numerous industry and corporate forums. She has consulted for such clients as Johnson Wax, Keebler, Kraft, Kellogg, Quaker Oats, Pepsi and Sara Lee.
Todd Harff
President of Creating Results, a strategic marketing, public relations and advertising agency that drives demand for lifestyle-oriented products and services. Mr. Harff is a nationally renowned expert in understanding and motivating mature consumers. Over the has 15 years, Creating Results has helped government agencies, not-for-profits, Fortune 500 companies and entrepreneurs in a variety of industries build relationships with boomers and beyond.
Jacob Brown
President of In-Depth Research, a strategic market research company specializing in Boomer/Senior Research, Healthcare Research and Technology Research. In-Depth conducts research for many leading companies, including Microsoft, Tivo, United Healthcare, Intel, Varian Medical Systems, Adobe and Disney.
Gerald Linda
President of Gerald Linda & Associates, a 15-year-old marketing consulting firm. The firm provides marketing strategy, planning and research services to a wide mix of large, sophisticated marketers as well as smaller entrepreneurial companies. A second service is adding advertising and public relation agencies with their new business and account planning efforts. His responsibilities have included providing marketing counsel and research needs for such clients as Miller Brewing Company, S.C. Johnson & Son, Inc. and BP Amoco.
Tom Mann
Managing partner of TR Mann Consulting, Tom is a recognized leader in the senior industry.  Previous to starting his own firm, Mr. Mann was the Senior Vice President of Advertising for Erickson Retirement Communities. In addition, he was the publisher of the Erickson Tribune, the nation’s largest monthly newspaper addressing health, active lifestyles for people 62 plus. His firm TR Mann Consulting specializes in advertising, marketing, communications and PR for Baby Boomers and beyond. Their clients include real estate developers, magazine publishers, the travel industry, and companies that sell consumer goods or services to the senior marketplace. Mr. Mann is also the founder of the Mature Market Experts Group.
Let me know if you plan on attending, I’d love to meet you.
Warmest regards,
Tom
Tom Mann, Managing Partner
TR Mann Consulting
Co-founder, Mature Market Experts

Mature Market Experts Gem of The Day: Marketing to Baby Boomers and the Mature Market – Avoiding the Herd Mentality

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Mature Market Experts: more mature market news and stats more often: Marketing to Baby Boomers and the Mature MarketBy Tom Mann, TR Mann Consulting: My partners at TR Mann Consulting and I regularly receive emails and phone calls from reporters, bloggers, advertising agencies, marketing firms, and consumer good manufactures asking us what the secret is understanding Baby Boomers, seniors, and the Mature Market. I would argue that there are no secrets just refined techniques. Here are some baby boomer and mature market marketing basics:

How is marketing to baby boomers different from marketing to the rest of the mature market or the public in general?

For decades now, marketers have been selling their clients on demographic breakouts. They tell you that the baby boomer generation (the 76 million Americans born between 1946 and 1964) represent unlimited herd-like opportunities.  On top of the 76 million American Boomer goldmine is another six to eight million immigrant boomers.

The magic demographic breakout? People born between 1946 and 1955 are called leading-edge boomers by these marketers. Those born between 1956 to 1964 are commonly referred to as late- or trailing-edge boomers.

These lazy marketers will tell you that these are two sociologically distinct target audiences . . . the “leading-edge boomers” grew up during the Vietnam War era. They will tell you that they were shaped by the “cultural revolution,” modern feminism (remember Billy Jean King and Bobby Riggs?), the Beatles, the assassinations of JFK and Martin Luther King, and the civil rights.

And yes, these events did influence some of their decisions but unfortunately for marketers, it’s much more complex than that. Boomers and the mature market (like all humans) are driven more by their personal needs (remember Maslow’s pyramid?) and the stage of life they are currently in.

In short, marketers need to understand that it’s about “stage” . . . not age. In other words, where is that individual in their personal journey? Just because we are from the same generation doesn’t mean were in the same stage.

David Wolfe, one of my favorite bloggers and a true expert on aging states on his blog Ageless Marketing:

“Needs drive our behavior. Our need to be physically and mentally comfortable, whole, safe and secure does not change from one generation to the next. In Maslow’s hierarchy, that bundle of needs is the most basic of all needs. Then, our need for love and to be loved never changes from one generation to the next. The same holds true of our need for self-esteem and the esteem of others.

What does change from generation to generation are the ways in which we strive to meet our needs.”

By approaching consumer’s with a “stage mentality” new targeting opportunities arise. My favorite example of this is one of my clients, GRAND Magazine. GRAND doesn’t address the readers’ age; it addresses the stage of life this group (Grandparents) has just entered. By recognizing the importance of this role, the grandparent role, GRAND and its advertisers, connect with their audience on a much deeper level. Think about it this way, there are over 72 million grandparents in America, and according to Age Wave Communications they’ll spend over 30 billion this year on their grandchildren. And I would say that $30 Billion is low, I’ve seen estimates of over $75 billion a year!

Because we believe it’s about stage, NOT age, at TR Mann Consulting we have created a different set of lens for looking at the sales process called the Maslow-Mann Brand Match. The great thing about this approach is that unlike the traditional marketing approach it’s inclusive, rather than “cutting out” market segments . . . so your market opportunities are bigger, not smaller. For example, did you know that the average age of a grandparent in the U.S. is 48? If you applied a traditional approach to reaching grandparents (a presumed age) you would miss much of the market.

Why are so many people and companies talking about boomers and the mature market now? How much buying power do boomers and matures have?

You have to remember, every eight seconds, another boomer turns 50. Over 50% of the households in the U.S. are now headed up by a baby boomer. And the mature market continues to grow at an incredible rate; by 2010 one-third of the U.S. population will be over 50. By 2020, one in five Americans will be over 65.

More importantly, they control the bulk of the nation’s wealth  . . . and they shop! According to a recent study by Nielsen and Hallmark Channels, households with baby boomer members account for nearly $230 billion in sales of consumer packaged goods and represent 55% of total consumer packaged goods sales.

Those numbers get even bigger when you include all the mature market, the 78 million American seniors who were 50 or older as of 2001 controlled $28 trillion, or 67% of the country’s wealth.

The mature market controls 70 to 79% of all the financial assets, 80% of all the savings accounts; 62% of all large Wall Street asset accounts; and 66% of all the money invested in the stock market.

Boomer women in particular will control the bulk of the mature market’s wealth. By 2010, women are expected to control 60% of all wealth in the U.S., according to a study from Allianz Life Insurance Company.

If you want to see more of these amazing numbers on mature women, click here.

What is the best way to market to boomers and the mature market?

Boomers and seniors are at completely different stages of their lives. It’s important to identify which stages most closely align with your product or service.

·        Do they have kids at home? Young or returned to the nest?

·        Do they have parents at home?

·        Are they healthy? What ailments do they have?

·        Are they retired?

·        Are they active?

The point is, that by acknowledging that marketing is a whole lot harder than just selling to a “herd” of boomers you’ll start to position your product more carefully.

Aside from physical ailments and illnesses, as we age and mature, we tend to proceed further up Maslow’s pyramid with our needs becoming less materialistic and more emotional/spiritual. Creating advertising that connects emotionally and logically is essential. This is one of the reasons TR Mann Consulting likes to use testimonials for our clients. Testimonials tell stories, they connect emotionally and logically. Plus, they maximize the principals of authority and social proof (The principles of influence: Consistency, Likability, Authority, Social Proof, Scarcity, and Reciprocity — as taught by researcher, Dr. Robert Cialdini).

Next, you have to take in consideration the visual and psychological differences between the different stages. One stage might be “elderly with declining health.” For the 65+ audience your ads should look dramatically different than if you were targeting younger boomers exclusively. Why? Because vision becomes an issue for print and TV, as do fast cuts in TV commercials. Although, in my opinion, all your ads should include these inclusive visual techniques . . . after all, why cut out potential customers? (If you’re interested in learning more about the mature market and vision, click here, then go to the bottom of the page and select “Vision and Aging.”)

Want to learn more about Baby Boomers, Seniors, and the Mature Market?

Of course, an article this short can’t possibly cover a topic this complex and do it justice. But hopefully, it does stop you from buying the traditional “herd-mentality” marketing approach being sold by most marketers for reaching the Boomers. If you’d like to learn more to improve your chances for marketing success with the mature market, give TR Mann Consulting a call at 410-292-4333.

 

Mature Market Experts Stat of The Day: Baby Boomer Purchasing Power

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Mature Market Experts: more mature market news and stats more often: Baby Boomer Purchasing Power – Households with baby boomer members — born between 1946 and 1964 – account for nearly $230 billion in sales of consumer packaged goods (CPG) products and represent 55% of total CPG sales, a study by Nielsen and Hallmark Channel reports.

The research, which examined the CPG spending power and brand loyalty of baby boomer households, found that baby boomer households’ share of sales is 5 points higher than their share of population, according to Nielsen and Hallmark. 

Nielsen and Hallmark also tracked baby boomer purchases of over 6,500 brands measured by Nielsen’s Homescan consumer panel that have over 1% US penetration.  Of these brands, Baby boomers account for over 50% of sales for 72% of those brands.