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Who makes up the silver generation? -

While not a hard and fast rule, the term "silver generation" is commonly used to refer to people aged 65 and above; it acknowledges the growing population of healthy and active older adults.

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Purchasing power -

The purchasing power of this generation is substantial. Though many people no longer work or have careers, they have amassed significant wealth through savings, pensions, and asset ownership.

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Tech savvy seniors - Technology adoption rates amongst the older population are unprecedented. In fact, according to Pew Research Center, amongst adults 65 and older, 75% are internet users and 61% have smartphones.

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Social media habits -

Research from AARP shows that Facebook and YouTube top the charts for those 50 and older when asked about their preferred social media platforms.

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Trust and authenticity -

People usually connect better with those who share similar life experiences. Silver generation influencers, known as "granfluencers," understand the joys and challenges faced by older adults, while younger influencers might not.

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Niche expertise and interests -

Whether it’s tips for mature travel enthusiasts or tricks for mastering new technology, granfluencers have the visibility to share their specific knowledge and passions.

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Brand loyalty -

Older adults are often more risk-averse when compared to younger generations. Thus, they are usually more brand loyal once they find a product or service they trust.

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Influence on family purchasing decisions -

In the US alone, grandparents spend an incredible US$179 billion per year on their grandkids. Their acquired wealth and aged wisdom mean they often influence purchase decisions for the family.

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Content that resonates -

The 65 and older crowd usually love clear and concise information. For example, step-by-step guides, video tutorials, health and wellness tips, and stories featuring older adults enjoying life are all relevant.

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Visual storytelling -

According to a HubSpot survey, “Older consumers consider text content from their favorite brands to be more memorable than younger consumers."

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Authenticity and transparency -

By showing real older people using genuine products and not just stock photos of young models, marketers can reach more silver generation consumers.

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Focus on value -

The silver generation typically responds better to messaging that is more authentic, credible, trustworthy, and emotional. This is based on their life stage and all the tactics that they’ve seen used over the years, i.e. they are more resistant to persuasion.

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Offline marketing integration -

Don't forget the power of print! According to the American Press Institute, “71[%] of those 65 and older like the ease of print.”

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Examples of the silver generation in media -

Vogue’s campaign featuring actress Maggie Smith was a hit! Also, think of the Marc Jacobs' campaign featuring Jessica Lange. Older models are taking the scene by storm!

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Combating ageism -

Defined as prejudice or discrimination on the grounds of a person's age, ageism has to be eradicated! Our media needs to show genuine portrayals of active, engaged older adults enjoying life.

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Ensuring accessibility -

It is important for websites and marketing materials to be user-friendly, with larger fonts, clear navigation options, and good color contrast for better visibility.

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Financial planning and security -

Top concerns of the 65 and up community include topics such as retirement planning, healthcare costs, and wealth management. Making their money last through the course of their life is key.

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Active living and travel -

While the silver generation is very diverse, many are embracing active lifestyles and traveling the world. For them, age is just a number when it comes to staying fit and exploring new places and cultures.

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Intergenerational connection -

With the rise of social media, granfluencers, everyday people can help bridge the gap between younger and older demographics, promoting understanding and shared experiences.

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Silver dating and relationships -

Many older adults are actively seeking love and companionship. According to surveys, among people aged 65 and older, 16% of single people say they're actively looking for a relationship.

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Reverse mentorship -

The silver generation is often open to exploring the concept of "reverse mentorship," which is when younger generations can teach valuable skills to more experienced, older adults.

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The silver generation and sustainability -

Many people 65 and older are environmentally conscious and concerned about the future. Brands and influencers who empower them to make sustainable choices are prioritized.

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Mental wellness -

There is a growing awareness of mental health later in life thanks, in part, to granfluencers promoting positive mental well-being and encouraging open conversations about mental health.

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The silver entrepreneur -

Many silver generation adults are defying stereotypes and actually opting to pursue entrepreneurial ventures after retirement. They often bring time-tested perspectives to the business landscape.

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Ethical considerations in marketing to the silver generation - Honest and transparent media is key. By avoiding misleading claims and establishing partnerships with credible granfluencers, the silver generation will feel more confident in their purchasing decisions.

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Long-term relationships with granfluencers and the silver generation -

Brands that build long-term relationships with the older economy, and the influencers who represent them publicly, foster a sense of authenticity that is unmatched.

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The silver economy -

The silver economy includes all those economic activities, products, and services designed to meet the needs of people over 65 (the silver generation).

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The future of aging -

Perception of aging continues to evolve over time, and marketing efforts need to reflect this shift. By celebrating active lifestyles, diverse experiences, and the wisdom of age, brands can connect more authentically with the silver generation.

Sources: (American Press Institute) (Brookings) (The Social Standard) (Appnovation) (Fierce Healthcare) (Marketing Charts) (National Institute on Aging) (LinkedIn) (CSA Journal)(GreyMatters) (Coming of Age) (Senior Living SMART) (Vogue) (WHO) (The Senior List)

See also: 30 habits that can cause aging

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