Your senior market: an important asset

Do the math: Between 2005 and 2030, the senior market (people age 60 and older) will grow by 81 percent, while the remaining adult market (18-59 years of age) will grow by only 7 percent. Not until after 2030 does the younger-than-60 market begin to show some life. If we also include the 55-59 age group in the senior market, it will add 16.5 to 20.5 million more consumers during the period, pushing the growth disparity even further. (www.marketing toseniors.com)

Consider these seniors as one of your target markets. I work with a dentist who is very clear about the differences in the needs and expectations of his senior market. You simply cannot treat all people the same way and expect to have a loyal, engaged clientele.

1. The three major success secrets to the mature market: "Service, service and service." Get used to it. Use it to gain access to the appreciation factor.

2. Sponsor an "older" adult program or service. You are going to be involved in public relations as a part of your marketing plan anyway. Why not showcase yourself and show your interest in their interests?

3. Offer a service that positions your business as unique. Banks often offer a free check-balancing service for seniors who carry a certain balance in their account. Be creative. What can you do that shows you understand their lives?

4. Have seating available and appropriate magazines. In a retail environment, a couple can shop, even if one is less able.

5. Make brochures and flyers informational. What do you do that directly has an interest for them? If you give them the information that they are looking for and offer them more information than they expect and much more than your competition, you at least are going to get an opportunity.

6. If you don't offer special senior discounts, consider whether you should and whether it will bring you additional business that otherwise would have gone to your competition. Senior discounts aren't always possible or reasonable, but in many cases, they are.

7. Talk to your senior customers. Find out what motivates them. They are your greatest asset and your best resource for information. Talk to them, ask questions, listen.

Jimmie Wilkins is the director of the Chemeketa Small Business Development Center. The Small-Business Adviser column is produced by the center and appears each Tuesday. Questions can be faxed to (503) 581-6017, e-mailed to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or phoned in to (503) 399-5088.