Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market – Marketing to Boomer Men and Boomer Women: How to Build Your Business with the Mature Consumer – BOOM. BOOM. BOOM! More than 15 experts on the Boomer market, including moi (Tom Mann of TR Mann Consulting and founder of Mature Market Experts), will share strategies for marketing to Boomers in a workshop at the East Side Marriott in Manhattan on May 14. As a reader of Mature Market Experts you will receive a 10% discount of the registration fee of $175. Your member price is $158.00. Bring a colleague and save even more: $248.00 for two registrants. Register here.

$7 trillion in personal wealth that is held collectively by people over the age of 50

“Marketers continue to undervalue Boomer and beyond consumers and therefore allow these consumers to make their buying decisions with few marketing or advertising programs to gain their loyalty or favorable brand attitudes. This is a long-held and failing attitude toward these consumers,” conference organizer Dr. Harris tells Selling to Seniors. “The Boomer and beyond generations are the most written-about age segment. The objective of this workshop is to try to point out that Boomers are big business. The presentations will clearly identify the importance of the 50-plus marketplace.”

Confirmed speakers for the workshop are as follows:

• Jerry Shereshewsky, CEO, Grandparents.com – luncheon speaker
• Kevin Lavery, managing director of Millennium Direct, UK, and president of the International Mature Marketing Network (IMMN) — keynote address
• Adriene Berg, CEO, Generation Bold, a business development and marketing consultancy
• Pat Burns, author of the best-selling book Grandparents Rock
• Helen Foster, Foster Strategy, Former Partner, JWT Mature Market Group
• Todd Harff, president, Creating Results, and a founding member of IMMN
• Steve Howard, author of 50 Low-Cost Ways to Acquire New Customers and Boomer Selling
• Paul E. Johnson, former account manager at TNS, who will report on his recently published article “Grandparenting: A New Image”
• Dr. Elaine Lyons and Ken Lyons, Perceptive Market Research, who will report on a national omnibus study of “Boomers and Beyond” that they recently conducted
• Jerry Maffia, a 30-year veteran of marketing research and promotion
• Kurt Medina, president of Medina Associates consultancy and co-author of the best-selling book 77 Truths About Marketing to the 50+ Consumer
• Tom Mann, managing partner, TR Mann Consulting, and founder of the Mature Market Experts (a LinkedIn networking group and blog for anyone who serves or sells to boomers, seniors, or the mature market) will be presenting “Changing how we age: Innovative trends in health care and commercial products”

Special Panel Presentation - Marketing to Boomer Women: How to Successfully Reach Them Using Social Media

Also, a panel presentation titled “Marketing to Boomer Women: How to Successfully Reach Them Using Social Media” will be moderated by Martin Diano, CEO of Boomer Authority and publisher of the Baby Boomer (Knowledge Center). The four panelists will be:

• Nancy Padberg, CEO, Navigate Boomer Media
• Marva Goldsmith, CEO, http://www.branding50.com/
• Sandra Levitan, CEO and publisher, http://kalon-women.com/
• Dotsie Bregel, founder, National Association of Baby Boomer Women

Additional Sponsorship Opportunities

A Sponsorship at the workshop of $500 gives you:

- Two (2) complimentary registrations to the workshop.
- Company logo and acknowledgment on Workshop Entrance Signage.
- Company logo on any Educational Workshop web page, highlighting sponsorship.
- Verbal acknowledgment during workshop made by the workshop organizers and speakers.

Don’t miss the opportunity to be a sponsor at this workshop.  It’s a great way to engage your peers, reach potential buyers, and show your commitment to the largest and wealthiest age cohort bar none. In addition to face-to-face interaction with the most highly qualified and knowledgeable people in the Boomer Market today, sponsorship helps you gain market leverage to an audience ready to embrace this market’s incredible revenue potential. If your company sells markets or promotes products or services directly to boomers and beyond, then your company should have a presence at this workshop! Trust me, this market … particularly older women, control the world’s wealth (to see some incredible statistics, check out this PowerPoint)! Please contact, Paul Johnson at pejconsulting@hotmail.com for additional sponsorship information.

 (photo bbc.co.uk)

 It was formerly a terrifying view to me that I should one day be an old woman.
I now find that Nature has provided pleasure for every state.

-Mary Worley Montagu

In the ancient Western traditions dragons were often portrayed as frightening and destructive forces that the gods must battle with in the pursuit of good triumphing over evil. “Here there be dragons” is a phrase thought to be placed on maps by medieval English mapmakers depicting dangerous or unexplored territories past the edges of their known world.

The phrase might well be used to describe the unknown and “terrifying” territory of old age. Living past the age of 65 is a relativity recent phenomenon. Life expectancy for women at birth in 1900 was just 48.3 years (men = 46.3). Contrast that with one-in-five Americans being over the age of 65 by 2030 and out numbering teens two to one. Longevity, for the developed world, is the “here there be dragons” of the modern era. For World War II generation women the topography of old age is the landscape of daily life—for boomer women it’s still uncharted waters.

Do You Want to be an Old Woman?
I remember listening to the lungs of an elderly woman who was admitted for congestive heart failure (CHF). As I strategically placed my stethoscope on her chest I said: “Big breaths—Big breaths.” Her reply surprised me; in a quivering-Parkinson’s voice and a smile, she quipped: “They…use…to…be…”

This brings to mind a quote from Gypsy Rose Lee, in Barbara McDowell and Hana Umlauf, Woman’s Almanac (1977):
I’ve got everything I always had. Only it’s six inches lower.

I’ve always enjoyed telling that story because it speaks to a truth about aging. If we are fortunate enough to get old we’ll experience the physical changes which accompany age—and hopefully have a sense of humor about it.

Have you seen the recent ad from Kaiser Permanente: Do you want to be an old woman? This campaign is bold and brilliant in that it flies in the face of conventional wisdom in several important ways:
1) Marketers will tell you to shy away from using terms like “old” or “aging” when selling to boomers and beyond.
2) The traditional medical model has emphasized “sick-care” not “health-care.”

This ad turns conventional wisdom on its head and has the audacity of hope (thanks Mr. President) to ask the question straight out: Do you want to be an old woman? It’s NOT about anti-aging—in fact it’s just the opposite. Emphasizing prevention (get a mammogram) so you can live long enough to BECOME AN OLD WOMAN and experience all the unknown experiences (territories) awaiting you.

This is about “compressing morbidity” and extending health—not just extending life. And the message is delivered with the soulful sound-track of Michelle Shocked – When I Grow Up. This ad demonstrates a deeper understanding of human behavior and respects the maturing psyches of women who are living fully within their age.

When running marathons with Geri-Athlete Mavis Lindgren, I often overheard her say: “I’m having fun being an old lady,” and she meant it. Perhaps out in the uncharted edge waters of old age she had encountered a different kind of dragon, of the Asian tradition, that often symbolize power, happiness, good fortune and wealth—and had a message for those of us still waiting back on the shore…That there is pleasure at every state.

Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market  - Mature Market Experts Blog Turns 2! - Wow! Hard to believe two years have blown by since we started this blog. Thanks for reading.

Truthfully, we have had tons of help and are very grateful. We’ll save a piece of cake for you.

By the way, Mature Market Experts now has over 600 members. If you are interested in joining this free Mature Market Experts LinkedIn group, just click here. We’d love to have you along for the ride.

(Berks County, PA) — Several residents of The Heritage of Green Hills, a full-service retirement community for people 55+ in Berks County, claim to have seen what they believe is a leprechaun.

“I know it’s hard to believe, but several residents have reported seeing a leprechaun in various places throughout our community,” says The Heritage’s Executive Director, Chris Romick. Chris continues, “Some say they seen him run behind The Tavern’s bar, others report seeing him dive into the deep end of the all-season swimming pool with a pot of gold … others report that he has even gotten into their villas. I’ve asked security to interview residents and to keep an eye open for the little fellow.”

A Tradition Begins

Leprechauns are known to be talented musicians who play fiddle, tin whistles, the Irish Harp and various other Irish traditional instruments. Their wild music sessions at night, which are known as Ceili’s in Ireland, are said to attract hundreds of fellow leprechauns to dance, sing and drink.
           
“We know that leprechauns like music, dance, and good cheer, so we decided to have a Happy Hour Celebration at the Heritage’s Tavern on the eve of St. Patrick’s Day, in an effort to lore our little friend out. We plan on doing this every year until the leprechaun feels comfortable enough to trust us. Who knows, maybe the green hills of “Green Hills” reminded him of home,” smiles Chris.

Photo\Video Opportunity: Residents and staff of The Heritage will be available for interviews regarding the leprechaun at the Leprechaun Happy Hour on the eve of St. Patrick’s (Tuesday, March 16th). The Happy Hour begins at 3:30 pm. For more information call Laura Zartman at 484-269-5090.

About The Heritage of Green Hills (www.HeritageofGreenHills.com)

Ideally located on 78 wooded acres near Reading’s Flying Hills neighborhood, this full-service retirement community has been designed to allow active seniors, ages 55 and up, the freedom to bring their retirement plans to life. In addition to maintenance-free villas and apartment homes, everything the residents need is under one roof (unless they choose a villa which is just a short golf cart ride away). They can walk from their apartment home to the restaurants, the bank, the swimming pool … everything they need … all without having to put on a sweater.

This incredible maintenance-free lifestyle allows the residents of The Heritage time to do the important things in life … like play and volunteer!

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Baby Boomers Starting Businesses At Record Pace. Who would have predicted that baby boomers (particularly those 55 to 65 year olds) are more willing to take on the risks of becoming an entrepreneur than younger coworkers? A recent study by the Ewing Marion Kauffman Foundation indicates that they are much more likely to so than the 20 to 34 year old age group. Layoffs and dips in their retirement savings may be spurring this trend. To read about this article in entrepreneur.com click here.

Personally, I think this trend may have more to do with life satisfaction than it has to do with finances. 

All,

I’d like to ask you a favor. I’d like your help naming a unique brain fitness program for I am working with. This program is unique in the brain fitness business because of the comprehensive breadth of the programs (and the fact that they are a not for profit). They utilize state-of-the-art technology with hands on training and motivation. And their approach is compatible with the ICAA Wellness Model.

They have something for every learning style and cognitive level:

• 11 different educational workshops on memory training and brain wellness. We believe that, just like in physical fitness, in-person brain training by a certified instructor makes a significant difference in members following through with the program

• technology-based brain fitness solutions targeting all cognitive areas, with the ability to track progress over time

• fun, easy to use, entertaining mind games for a whole-brain workout

Again, I would greatly appreciate your input on this one question survey. Thanks in advance!

One of my favorite movies scenes of all times is when middle-aged baby boomer Evelyn Couch (Kathy Bates in the movie Fried Green Tomatoes) is waiting patiently for a parking spot in a shopping center. Just as the spot becomes available, two young girls in a cute little car cut in front of her and steal her parking spot.

Evelyn Couch: “Hey! I was waiting for that spot!”
Rude Girl: “Face it, lady, we’re younger and faster! “

Then, Evelyn calmly and coolly reeves up her car and then repeatedly rams her car into the back of their tiny VW Bug, smiles and says, “Face it, girls: I’m older, and I have more insurance.”

As our population ages, and as the senior population continues to possess the lion’s share of our country’s disposable income, it becomes more and more apparent to me that the mature market rules — or can choose to rule as Kathy Bates’ character did.

Research from Harris Interactive says that retirees feel that Madison Avenue has forgotten they exist. The study, commissioned by the TV Land cable network, shows that two-thirds of adult TV viewers say that most television programming and advertising is targeted at people under 40.

In cities around the county, an eye-popping 80+ percent of mature market respondents over 40 claim they can’t find TV programming that portrays their lives. The sooner programming reflects seniors’ interests, the sooner they will buy the advertised products. OK, maybe they aren’t rushing out to buy Apple IPads yet, but the mature market still buys a ton of consumer products.

I think these PowerPoint slides accurately capture the insanity of this situation.

Truth be told, I could care less if the mature market buy doesn’t buy products from marketers who are asleep. But I’m smart enough to know that economics is very often the driving force behind our society. How much longer will society devalue the mature market’s contributions (current and future)? If we are going to climb out of this recession, we need to recognize both the economic and social value of the senior population.

Today's retirement communities like The Heritage of Green Hills defy the stereotypes of continuing care retirement communities.

 Mature Market Experts: more news and stats you can use on seniors, boomers and the mature market - Death of the “Continuing Care Retirement Community” - I am about to make myself some enemies. At TR Mann Consulting, we believe that marketing your retirement community as Continuing Care retirement community may be one of the worst decisions you could ever make. In fact, I would put as much distance between my retirement community and the term “continuing care retirement community” as possible. Why?

Semantics are important. They shape how your staff interacts with your clients. They also shape your customers’ opinion of your offering — and how they feel about themselves. Your job is to make them feel good about themselves in relation to your product.

Less than 3% of the age and income qualified population will ever move into a Continuing Care Retirement Community. “Why is there such a huge gap between the wonderful truth of what Continuing Care Retirement Communities (CCRCs) are . . . and what the general public perceives them to be?”

What we know:
Today’s modern-day continuing care retirement community is an extraordinary social invention. Residents of CCRCs often say, “I should have done this years ago.”  If you are over 70, there is no denying that a continuing care retirement community can help you avoid the trappings of social isolation that are hard-wired into your house in the suburbs. Anyone who has ever worked in the industry has seen the wonderful transformations that people make as they rediscover their social side.

What the public thinks:
What’s the number one objection retirement community sales people hear from prospects? “I’m just not ready for THIS  kind of living.” Most often, this statement is coming from a senior who is over the age of 80! Sadly, most people think “CCRCs” or “Lifecare Communities” are assisted living, nursing homes or old folks’ homes in disguise. What breaks my heart is that this perception prevents seniors from enjoying both the social and medical support that would dramatically improve their lives today. Worse yet, by waiting, your potential resident dramatically lowers their chances of getting into a truly “independent setting” in the future. The problem then compounds … moving when you HAVE TO, as opposed to moving by choice, significantly lowers the odds of successful transition.

What we know:
The retirement community industry has put its foot in its mouth. After all, what do you hear when someone says, “CONTINUING CARE?” When people hear “continuing care” they view it as inevitable that they will cycle through the full system . . . in their minds they think, that’s why they (the operators) call it “continuing care.”  We know that the vast majority of people will not need the higher levels of care available in continuing care retirement communities. Yes, it’s valuable if your retirement community offers these higher levels of care but you need to be very, very subtle about how you portray these services.

Who wouldn’t want to avoid expensive assisted living and nursing care?  More importantly, who wants to live in a nursing home? This huge perception gap between what today’s CCRC communities really are, and what the public thinks they are is keeping the vast majority of the people (96%+) away from an incredibly rich lifestyle.

Notes from the field:

• Modern-day Continuing Care Retirement Communities are awesome.

After working with retirement communities for over two decades, I say this for two reasons. One, seniors who move into a continuing care retirement community have more social interaction . . . more social interaction equals happier people. Research has shown that the active, social lifestyle found in modern-day continuing care retirement communities helps to reduce the risk of disease and disability. By the way, dining is a HUGE component of this - nutritious, balanced meals are very often not the norm for seniors living alone. Not to mention, the benefits of dining with friends.

Two, seniors who move into a CCRC are able to practice preventative medical care rather than reactive care. This, my friends, is a HUGE advantage! For example, would you rather improve your balance through exercise or spend months recovering from a broken hip? My parents moved into a CCRC over eight years ago (Charlestown Retirement Community) and it turned out to be one of the smartest moves they ever could have made.

• The terms “Continuing Care Retirement Community” and “Lifecare Retirement Community” should be banned from your sales person’s vocabulary.

Look carefully at these two terms: 
•  “Continuing Care Retirement Community” - hmmm, this is the place I go for “Continuous Care.”  Sounds a lot like “Skilled Nursing Care.” The industry throws around a confusing array of terms and acronyms, most of which are medically related, and none of which the general public understands. Mudding the situation even further are the distinctions between type A, B, and C continuing care retirement communities that few people in the industry, let alone the general public, understand. And all reinforcing negative perceptions.
• “LifeCare Retirement Community” – am I going to need care for the rest of my life? Do I need “Life Support?” Clearly, my neighbors will be sickly if I move in here. I can’t wait to share dinner with a guy in a wheelchair drooling (sorry, but it’s what the customer is thinking).

Sadly, the industry suffers from murky, medical sounding terms and definitions (in fact, in many cases, there are purposeful “misuses” of terminology designed to confuse the customer, ie. the assisted living facility that wants to sound like a CCRC). Here’s an example of what the today’s top 3 Google internet listings were for term “life care”:

LIFE EVENT MANAGEMENT SERVICES : LIFECARE
LifeCare.com is the nation’s premier provider of human resources work and family benefits. Our services include child care and adult care counseling, …
www.lifecare.com/ - 24k - Cached - Similar pages

LIFE CARE CENTERS - AMERICA’S NURSING HOMES
Life Care Centers of America provides skilled nursing homes, assisted living, long term care, retirement, home care, and Alzheimer’s centers to help you and …
www.lcca.com/ - 45k - Cached - Similar pages

LIFECARE HOSPITALS - LONG-TERM ACUTE CARE (LTAC) SERVICES AND …
LifeCare Hospitals, national healthcare service / hospitals for long-term acute care (LTAC).

None of these sound like a fun place to live.

Both “continuing care”  and “lifecare” are infused with medical, nursing home connotations that make the customer sound and feel weak. Put yourself in your customers’ shoes, do you want to look and sound weak in front of your friends and family?

• The industry has to move from a “nurse mentality” to a “service” mentality.  

And it can’t just be our words (think of the subtle message your community’s shuttle bus currently offers, if you’re a potential resident do you want to arrive on the scene in a bus that could easily be confused for your county’s senior center bus? Or better yet, one of Jerry’s kids? Wouldn’t you prefer a nice sedan or a trolley with no community labeling?

Now, I hear some of the more sophisticated marketers retort, “yes, but we don’t use this language in our marketing!” You don’t? Take a look at your contracts, the directories you’re advertising your retirement communities in, and the associations you belong to.

• Applying an industry label doesn’t help the customer feel better about your community or themselves.

Today’s retirement community offerings are not your father’s Oldsmobile.  By calling our retirement communities a CCRC we are putting the negatives first. As Scott Bedbury, the genius behind Nike and Starbucks once said, “Brands, like coffee beans, are highly sensitive sponges that absorb whatever is around them. And they don’t discriminate between the good, the bad, and the ugly.” There have been plenty of ugly CCRCs in the last 25 years, do you want that association?

Those of us in marketing have often said, “the customers’ house is our biggest competition.” The truth is that our biggest competition is the perceived safety that their house represents vs. the negative perceptions about CCRCs.  We need to distance ourselves from these negative perceptions by dropping the old labels and visuals queues (CCRC accreditation logos, shuttle buses, etc.), and then by associating fun, exciting visuals and descriptions. Today’s retirement communities ARE different.

Today’s sophisticated retiree is looking to protect their quality of life and their financial health. We need to eliminate the excuse, “I’m just not ready for THAT style of living.” It’s time to rethink our message and reach out for a new identity.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – After the Downturn, Will Seniors Retire? A new study released by economists Thomas Steinmeier of Texas Tech and Alan Gustman and Nahid Tabatabai of Dartmouth College suggests that most baby boomers will recover sufficiently from the 2008/2009 economic downturn to only slightly delay their retirement plans.The study purports that the average worker close to retirement age (53 to 58) holds only about 15.2 percent of their money in the stock market. The rest of their projected wealth comes from anticipated Social Security Benefits, pensions and other assets. [Author's note: this is based on the University of Michigan's Health and Retirement Study - does Michigan have a higher percent of pensioners than the rest of the country?] Also, the study’s authors suggest that the recession may actually encourage retirement for baby boomers in a very competitive job market. To learn more click here.