The over 55’s are a largely untouched market segment in Australia; even though these brand savvy consumers are cashed up and looking to spoil themselves. So why are Australian businesses neglecting to target this share of Australia’s market?

According to an article published on Marketing Magazine “7.3 million and cashed up – but nobody’s marketing to them” – by Suzie Banks, it seems marketers don’t know how to talk to them.

And how can we not? The baby boomers and pre-baby boomers make up over a quarter of the Australian population! These guys have paid off their mortgages, have savings in the bank and are looking to spend their children’s inheritance.

The over 50’s are much more savvy than we give them credit for. So while we can assume many of them still tap into radio; read the newspaper in its entirety and the only ones who potentially still use the Yellow Pages books, these guys are also online – so be quite creative with your marketing strategy, there are a number of channels to add to your marketing mix.

Does your business have a product and service that can be targeted specifically to this age group? If so, how do you market to the over 50’s and what is the response rate like?

Corporate Sound works with many businesses throughout Australia who actively target the over 50’s, but considering how attractive this market is, Australian businesses are still more inclined to target Gen Ys and Xers. As an audio production company, we see many businesses targeting Australian seniors through radio advertising, but less so, through their telephone lines or in store marketing campaigns.

In our view, there is ample opportunity to target Australian seniors – do you have what it takes to get your share of this market?