If you're not marketing to senior citizens, you're leaving money on the table. Many people think that seniors aren't interested in anything other than prescription medications or that they don't have the money to spend because they live on fixed incomes. Nothing could be further from the truth.

As with any niche group, you need to know how to start campaign marketing to seniors. You need to know what they want and what types of advertising is most effective with them.

Consider the following reasons why you may want to think about selling to seniors:

1. The senior citizen population is growing. As medical advancements improve, the average lifespan increases. When you start senior marketing, you can reach an ever-growing base of customers.

2. Seniors often have money to spend. Sure, they may be living on a fixed income, but in most cases, they have very little debt. This makes them more likely to spend money on things that they want, or things that they want to give their children and grandchildren.

3. Retired seniors have much free time that they can spend on hobbies or travel. If you have a business in these niches, it's time to start selling to seniors.

Action Steps
The best contacts and resources to help you get it done

Purchase market reports to learn about elder marketing

If you're thinking about testing the waters with senior citizen sales, then you should learn some of the current trends through market reports. Market research companies produce these reports after an extensive amount of research. They can help you to form the best plan for selling to elders.

I recommend: TheMatureMarket.com specializes in research the baby boomer and senior citizen markets. They have produced a report titled Targeting Senior Consumers, which can be a great help. The Ecuman Age Wave Study also discusses the boomer and senior markets.

Start focus groups to learn more about selling to seniors

It's always best to go directly to the source when you need any information. If you want to learn the things that senior citizens want, set up focus groups so that you can speak directly to them and ask any questions you have.

I recommend: Power Decisions Group can help you to build your focus group program. Northstar also provides market research options.

Keep current with senior marketing strategies through newsletters

Newsletters can be a great way to stay up to date with current trends in marketing to seniors. You can learn about new techniques almost instantly.

I recommend: Senior Mag is a leader in senior marketing research. Sign up for their newsletter for regular updates. Immersion Active offers a number of newsletter and white papers that help you understand the market.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Don't forget that a large number of senior citizens are online. Many people make the mistake of thinking that you need to use more traditional forms of advertising when thinking about senior citizen marketing. Make sure that you also create an online advertising strategy for seniors.

Across the U.S., a new person turns 50 every seven seconds. But while aging baby boomers get most of the attention, the senior market is diverse. Relationships matter most to a 75-year-old consumer, while '60s music and a glitzy ad campaign may attract the 'young' senior.

Since seniors account for about 75 percent of all U.S. wealth, there's money to be made with this population. To better understand this market and make sales, you'll need a three-part strategy:

1. Learn about the different needs of the over-50 market.
2. Design a senior-friendly marketing and communications strategy.
3. Take advantage of expert resources to develop your message.

Action Steps
The best contacts and resources to help you get it done

Trump the competition

Your competitors may ignore the senior market, and you can capture it through a renewed focus on customer service, a welcoming atmosphere and large-print ads.

I recommend: Seniorize Your Business, from the design of your parking lot to the lighting inside a building.

Sharpen your message

Not all seniors are alike. Marketers cite a major difference between traditional 'mature folks' — age 65 and above — and younger baby boomers known for their independence.

I recommend: Visit The Boomer Project or Evergreen Direct for advice on how to play to the strengths of different groups within the senior market. Get a free subscription to Suddenly Senior newsletter or download a free chapter of The 50-Plus Market, a new book focused on this fast-growing consumer group. Get more insights from the 35 million seniors active in AARP, the nation's leading organization representing older Americans.

Hire them, too

Don't just sell to seniors. If you want to be senior-friendly, hire seniors as full- or part-time employees who can talk up your company and help older customers.

I recommend: Go to retirementjobs.com, Seniors4Hire or the Senior Job Bank to post an opening. All sites work with companies deemed senior-friendly and offer job seekers a searchable database by state or Zip code.

Find the best lists

Need a national or regional mailing list of active senior consumers? List brokers break down information on some of the most targeted U.S. markets.

I recommend: Get up-to-date information from the many firms offering senior-specific mailing lists, such as AccuData America, Dataman Group and The List Company.

Don't forget the Web

More and more seniors are taking to the information superhighway, and experts forecast this trend will continue as more baby boomers reach age 50.

I recommend: Design a senior-friendly Web site with these tips from the National Institute on Aging.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you have a retail store, consider large-letter signage and wider aisles among other changes.
• •  Free trials and money-back guarantees are concepts that can improve senior response to your message.
• •  Be patient. Unlike younger consumers, seniors may not be in a hurry to make major purchases.
• •  Convene an informal focus group of seniors to evaluate your product and your marketing approach.