The Power of Values-Based Marketing in the Longevity Economy

Values are what you must speak to with older consumers, and early Apple advertising provides stellar examples of effective values-based marketing.

Last issue, we explored why demographic-based marketing is completely ineffective when it comes to older consumers, even though we’re experiencing a massive demographic shift that is creating the longevity economy.

While interests and stages of life are smarter starting points, they too can only take you so far. To really connect with your ideal prospect, it must be at the level of values and the attitudes that result from those values.

Many marketers and entrepreneurs hear “values-based marketing” and think of social justice and cause-based messaging. In reality, that’s only a subset of a values-focused approach.

Let’s look at an example of broader values-based marketing that everyone is familiar with. That would be early Apple, a once small underdog company whose marketing messages were entirely based on the values of its co-founder, Steve Jobs.

Many consider Steve Jobs the greatest marketer of all time. Whether that’s literally the case, he’s certainly in the upper echelon for me. Analyzing Jobs’ approach to marketing and communication has helped inform my efforts as a digital entrepreneur and as a teacher of content marketing.

These days, Jobs is known for innovative product development in the form of the iPhone and iPad more than the advertising campaigns he oversaw. Upon closer inspection, though, Jobs brought the same uncompromising foundation to both.

Apple spent decades as the upstart to established giants like IBM and Microsoft. Now, Apple tops the S&P 500 with a market capitalization of over two trillion dollars. Despite the current leadership under former CFO Tim Cook, no one doubts that it was Jobs who pointed the firm to the apex of multinational brands.

Whether Steve Jobs was a genius or not misses the point. What he definitely had was the courage of his convictions, which made him truly great. He instilled in Apple his personal values and was uncompromising in adhering to them.

This is important because the way Apple positioned itself and communicated with prospects and customers reveals the basis of any marketing strategy that aims at older consumers. It’s a prime example of the empowerment marketing you’ll use to effectively market to your chosen longevity market segment.

Let’s now explore some of Apple’s iconic campaigns to understand how we can use a similar approach when marketing to older consumers. Hit the link below for more:

The Steve Jobs Approach for Marketing to Older Adults (Longevity Gains)

Old Guys Rule

Here’s a collection of interesting facts about our progressively aging society:

World Leaders: The median age of current national leaders is 62, as of May 1, 2024. The largest share of leaders today (34%) are in their 60’s.

U.S. Congress: The current class of lawmakers is one of the oldest in history, with an overall median age of 59. The median age of senators is 65, the highest on record.

C-Suite: “Incoming CEOs were notably older in 2023, with the average age of starting S&P 1500 CEOs reaching an all-time high of 56.2 years, more than a year older than the prior high.

The Silver Screen: “In the past 20 years—and particularly the last 10 to 15—the average age of actors appearing toward the top of the bill in film & TV projects has risen significantly. Today’s average actor age has reached the mid-40s and is steadily climbing toward 50.

Consumers: Americans age 65 & up accounted for 22% of spending last year, the highest share since records began in 1972 and up from 15% in 2010… Seniors’ high spending propensities reflect health, wealth and perhaps lingering psychological effects of the pandemic… also, Americans age 70 and older now hold nearly 26% of household wealth, the highest since records began.

Six Charts: Old Guys Rule (Age of Disruption)

The Rocky Transition to an Older Workforce

As we shift to an older society thanks to longer, healthier lives and drastically dropping birth rates, older workers will be essential. But as with any transitory phase, it’s disruptive and tumultuous:

“As the U.S. workforce diversifies in age, HR leaders are challenged to create policies and practices that appeal to five highly distinct generations. One segment in particular—older workers—will be increasingly represented in the workforce in the coming years. Yet, recent research has found that many employers are not offering environments conducive to recruiting or retaining these professionals. Without strategic planning now, they say, systemic ageism in the workplace could cause employers to miss out on the potential of this growing population of workers.”

I see this being especially problematic for Generation X. Gen Xers should be ascending to the highest levels of company management, but instead find Baby Boomers who don’t want to retire standing firm. Longer lives and health spans – plus the increasing awareness that retirement is not all that – means that traditional upward mobility is stalled.

But if those why try to make a lateral move (or rebound from a layoff), often find they’re butting up against a solid wall of ageism. With A.I. screening resumes with age parameters, no human will be involved to make an exception.

Disruption and rocky transitions bring opportunity. People will need help navigating this shift, and that can be the foundation of a new business for you.

HR’s next big challenge: Ageism in the workplace (HR Executive)

The Viral Upside of Embracing Older Consumers

One of the points I’ve tried to make about getting in at the beginning of the longevity economy is the opportunity to create messages that go against the status quo of ageism and misconceptions about older adults.

It makes building a successful business easier, because being truly different from the status quo is the foundation of successful new businesses in general. But in this case, it’s more powerful than that in the age of social media.

When you have a huge chunk of the population that has been disregarded and disrespected, messages that get it right spark an overwhelming urge to share that message with others. And while the stereotypes say that older people only share conspiracy theories and misinformation, hopefully you know better than that by now.

Let me give you an example of what should have been a forgettable LinkedIn post about a hiring decision. But given the particular message and the people it resonated with, it instead became a viral sensation.

Here's the start of a LinkedIn post you don't see every day, or frankly, nearly any day: "I hired someone over 55."

That's how Tom Hunt, the 35-year-old CEO of the British business-to-business marketing company Fame, began what has since become his wildly viral, 95-word LinkedIn post that has amassed 76,076 views, 4,782 comments and 3,455 reposts at last count.

It’s simple, really. Take a group that feels marginalized even though they’re at the height of their powers, and tell a tale of realization and empowerment:

"A lot of Gen Xers and baby boomers feel like they're being overlooked," said Colleen Paulson, a Pittsburgh-based career consultant. "And it's very frustrating because you feel like you've worked so hard for all these years only to be laid off and told that you are overqualified."

This is just one segment of older consumers who feel overlooked. Show your ideal prospects that you “get it” and understand the truth about who they are and what the have to offer, and your messages can receive this kind of treatment as well.

A CEO’s Post Praising Older Workers Goes Viral (Next Avenue)

Have a great week!

Keep going-

Brian