| My job is to create business opportunities for my | | | | Your business today is predominately serving the |
| clients - based on my knowledge of the consumer | | | | Silent Generation (as in suffering in Silence ), born |
| behaviour of mature age Australians. I'll start by | | | | between 1925 and 1942, and decreasingly the |
| declaring my expectations for this article. | | | | Greatest (or WW2) Generation, born 1901 to 1924. |
| While I operate in many modes - from trainer, | | | | All generations have accepted norms and research |
| mentor, consultant, facilitator - my intention is to | | | | confirms Boomers are diametrical opposites, in |
| operate in the Coaching mode, which is best defined | | | | thought and action, to the two generations that |
| as "creating the environment which allows the client | | | | preceded them. Boomers are rule breakers, |
| to discover for themselves". Therefore there will be | | | | committed to individuality over conformity, and they |
| more questions than answers. | | | | show no signs of growing out of it. |
| My intention is to plant some seeds, to leave you | | | | This incompatibility between Boomers and their |
| wondering. To have you seeking answers to | | | | parents' generation raises huge questions for |
| questions that you thought were long settled. | | | | businesses contemplating the transition to, or the |
| Peter Drucker observed that "Nothing is worse than | | | | integration of Boomers, into the compliant and |
| climbing the ladder of success only to find, once you | | | | conforming ranks of their preceding generations. |
| reach the top, that it was leaning against the wrong | | | | The arrival of the Boomers at the traditional |
| wall." | | | | Retirement Age of 65 has a long list of challenges for |
| Hopefully, some of the sacred cows of your industry, | | | | your business as a marketer, but it has an equally |
| and your organization, end up as hamburgers at your | | | | long list of challenges for your business as an |
| next company BBQ. | | | | employer, with the need to attract and retain |
| The first question I have, which hopefully you will | | | | age-appropriate employees. |
| continue to ask yourself throughout this article, and in | | | | 2010 is also the year of the labour market "entry-exit |
| many contemplative moments in the future, is | | | | crossover". For the first time, Australia is predicted to |
| What business are you in? | | | | face a period of more leaving the labour force than |
| If your answer is that you are in the business of | | | | entering. |
| developing and operating Retirement Villages, or | | | | As an indicator of the impact of this, at the next |
| Aged Care facilities - that may be your best answer. | | | | all-staff meeting in your business, ask for a show of |
| Or that answer may be what limits your future | | | | hands to indicate how many people in the room are |
| opportunities. | | | | Baby Boomers - born between 1946 and 1964. |
| Perhaps your answer could be something more | | | | To wrap up this point, 2010 is the year you need to |
| expansive, more challenging, more inclusive. | | | | begin a new era of business education on how to |
| Perhaps - "We are in the business of providing | | | | market to, and service the needs of Boomers - both |
| housing accommodation options for mature age | | | | as supplier and employer. |
| Australians." | | | | When selling to mature age consumers, product |
| That second answer opens up all sorts of | | | | centred approaches are less effective. As we age |
| opportunities, well beyond today's realities - think | | | | we are more attracted to meaningful experiences |
| new forms of affinity living, or micro developments | | | | than gaining material goods. |
| with streets based on niche interests, or the concept | | | | Retirement Accommodation is not a real estate |
| of shared living arrangements or multi-generational | | | | "bricks and mortar" decision - it is a lifestyle |
| solutions. | | | | experience decision centred on intangibles such as a |
| What about the all important oxymoron "the Working | | | | sense of community, belonging, security, insurance |
| Retired", or university based developments, | | | | for the future. |
| communes for mature age artists and writers, | | | | What lifestyle does the prospective resident want to |
| strategies for aging-in-place. | | | | experience, and who do they trust to deliver that |
| Next major question - What is significant about the | | | | experience? |
| year 2010? | | | | The Next Question - Do you pursue a rational or |
| 2010 is the year the first of the Baby Boomers reach | | | | emotional approach to Marketing and Sales? |
| what has been regarded as the Retirement Age of | | | | Research has consistently confirmed most sales are |
| 65. | | | | emotionally driven and emotionally decided (utilising |
| Incidentally, when 65 was arbitrarily selected as | | | | what is known as the right brain), and then justified |
| Retirement Age, only 54% of men and 61% of | | | | logically (utilising the left brain). |
| women lived that long. | | | | The prospects in your target market, are exposed |
| Now I know you've read all about this Silver Tsunami, | | | | to something like 4000 to 5000 marketing messages |
| and been inundated with statistics on this biggest | | | | every day. |
| population wave in mankind's history. But like it or | | | | To protect our left brain from being over-loaded with |
| not, the Baby Boomers are now clearly visible on | | | | the need to analyse and evaluate every one of |
| your business radar. | | | | those messages, our right brain acts as a gatekeeper |
| Let me give you one more statistic to put this in | | | | and discards the messages it isn't emotionally |
| perspective. | | | | attracted to. That's true for people of all ages. |
| From 2010 to 2050, the average monthly increase in | | | | But as we age our cognition patterns become more |
| the number of Australians over 65 will be more than | | | | right brain oriented-that's where emotions and |
| 20,000. That's the population of a major regional city | | | | memories reside. The right brain works with sensual |
| every month for 40 years. The aggregate increase in | | | | imagery, not words and numbers. That's why photos |
| the over 65's is greater than today's population of | | | | can trigger memories or prompt an emotional |
| NSW. | | | | response. |
| Now before you rejoice and assume that with such a | | | | Our verbal memory declines faster than our visual |
| boom in demand, any business providing housing for | | | | memory. Who hasn't been stuck for a word, but we |
| this age cohort must be destined for great times, let | | | | can clearly visualise what it is we're trying to |
| me nominate two significant caveats. | | | | describe? |
| Firstly, who can remember the times as kids when | | | | What does that mean in your marketing and sales |
| the fire brigade used to turn on the fire hydrant and | | | | activity? |
| let it run down the street for a while? | | | | The maxim that best describes the direction you |
| Did you ever try to get a drink from the hydrant | | | | need to take is this: "People don't care how much |
| when it was turned on full? | | | | you know until they know how much you care." |
| Even if you didn't end up with your teeth knocked | | | | Until your marketing or sales approach makes an |
| down your throat, you ended up soaking wet and still | | | | emotional connection, which can be instantaneous, |
| thirsty. | | | | and until you establish an acceptable level of Trust, |
| Only those with a clearly thought out and well | | | | no amount of logic or financial justification will achieve |
| executed strategy achieved their objective, firstly | | | | the buyer response you are seeking. |
| escaping serious injury, and getting the drink they | | | | So long-copy press ads and financial tables showing |
| needed. | | | | "savings" on landing pages of websites won't do the |
| Second caveat. While there is great danger in | | | | job, nor will images that depict the age of current |
| applying any generalisation to Baby Boomers, they | | | | residents which is not compatible with how your |
| are not an homogeneous group in any aspect, there | | | | prospects see themselves, which research says is 13 |
| is one accurate generalisation: Baby Boomers are not | | | | to 15 years younger than their actual age. |
| their Parents. | | | | |