2009-01-21
5 Ways to Sell to Senior Citizens

If you are reading this, perhaps you are prepared to or have already let go of the notion that all seniors live on their monthly Social Security check and have no significant purchasing power. When you think of profitable selling to seniors, do you only have visions of creams, ointments, and insurance? Here is the reality: if your have products or services that are of interest to seniors, you will have the potential to have at least 70% customers over 50 years old. If that is not the case yet, here are some ways to be a senior friendly company.

1. Offer senior discounts to obtain business that would have otherwise gone to the competition
Most likely this will be a profitable move. The lower end of the senior age spectrum continues to drop, including younger, more active people. Between 2005 and 2030 the senior market will grow to over 95 million people; 4 times the projected growth rate for the 18-59 age group. Keep in mind that seniors are savvy shoppers and really appreciate deals.

2. Make sales as easy as possible - they should be more convenient to the customer than the business
For instance, make if you have a rebate program, the application forms should be a cinch. Terms should be clear, concise, and user friendly.

3. Use relationship selling
When promoting your product, the promotion should also be appealing to those shopping with the seniors you're targeting. Relationship selling is important in senior markets due to the frequent third party involvement in purchase decision-making (more so than any other adult market). Salespeople should have the ability to take the time to explain the product fully and really get to know the customer.

4. Bring them in early
The senior market has an extended age range of 40 years or more. By bringing them in as customers in their early senior years, you have the opportunity to keep them as customers for a long time.

5. For your website, try large readable fonts and low glare backgrounds
It's a common stereotype that seniors are reluctant to embrace new technologies, so internet marketing is usually at the bottom of the list. However, the 50 plus segment is the fastest buyer in net based marketing. Seniors currently spend over $7 billion online each year! Be sensitive to sight, hearing, and other age related impairments.