The Business of Aging

Selling to Seniors. The Purchase Influencers.

Great article from the DailyPress.com titled Firms Cater to Elderly. The article discusses the boom in companies that cater to the aging of America, from retirement communities to in-home care agencies to elder law attorneys  and retirement planners. 

Many of these "senior" vendors are spending their marketing dollars to reach the baby boomer  directly. However, it will become equally important for companies selling products and services relating to the aging of America to also target the purchase influencers. There are a lot of them.  The key ones include:

• Family Caregivers
• Medical Doctors
• Nurses
• Social Service Agencies
• Hospitals
• Geriatric Care Managers
• Pharmacists
• Physical Therapists
• Rehabilitation Centers
• Home Health Care
• Housing and Residential Facilities
• Investment / Retirement Advisors
• Elder Law Attorneys

This is the basis for the new product, SeniorCareMarketer.com which will help vendors easily reach these purchase influencers and build visibility. Expect the product to be available in early 2008.

 

New Magazine Targeting Seniors. Expect a Lot More.

In a recent issue of Selling to Seniors, I read about an interesting new magazine called ELDR that is targeting a niche within the older demographic - people aged 60+ with $125,000 in household income or $1 million in investable assets. The quarterly ELDR magazine, which also has a companion Web site, is the brainchild of Chad Lewis, a senior housing developer, and David Bunnell, who founded such media properties as PC Magazine, PC World and Macworld.

Expect a lot more media outlets to be launched within the next five years that relate to the aging of America. We'll keep you posted.

Boomers Equal Big Business

A great article from TrendWatching.com starts off by saying:

"BOOMING BUSINESS is what baby boomers are. Anyone from Tom Peters to Faith Popcorn to Wikipedia will be able to shower you with mouth-watering numbers and indicators, highlighting the amassed wealth of baby boomers in mature consumer societies around the world. .."

While most everyone in the business community seems to be focusing on the lucrative market of "selling" to boomers, we believe an overlooked (and equally huge) market is going to be the business of "caring" for the boomers. 

This is the focus of the soon to be launched SeniorCareMarketer service that anyone who sells products or services relating to the aging of America will find useful.

SeniorCareMarketer.com is a long term bet (safe bet) that believes a huge number of baby boomers will soon need care.  SeniorCareMarketer will help companies who provide caregiving related products or services (from geriatric products to LTC insurance to home health and housing options) build brand awareness with those who "care" for seniors (family, Doctors, nurses, pharmacists, home health aides, etc.) and influence the purchasing of these products and services.

Although for many of the younger boomers (those in their 40s and 50s) the thought of needing caregiving assistance is a passing thought, they will soon find themselves caring for parents and within ten years, the older boomers themselves will be the ones requiring care. 

Stay tuned.....