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Post by CAwasinNJ on Apr 17, 2019 23:40:01 GMT -6
I'm sure I've explained this before, but for the benefit of those who may not have seen it I'm going to do it again.
The reason advertisers don't like 50+ has nothing to do with whether the listeners have money to spend.
Stop. Go back and read that last sentence again.
The entire point of advertising is convincing someone who doesn't use your product or service to start using it. The simple fact is that the longer we're around the more experience we've already had trying anything that's out there. I know what Coke tastes like. I know what Pepsi tastes like. I know that I like Coke better. Pepsi can run all the ads they want and that isn't going to change anything. Back when I was 20 I hadn't had that depth of experience yet and I was much easier to convince that I should give Pepsi a try. It's really that simple. A lot of people just have a hard time accepting it. I'm sorry. I don't like it either, but that's how advertising agencies work and they're right for the most part.
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Post by David on Apr 18, 2019 18:42:17 GMT -6
Yet many in the coveted 18-34 demo are relying on money from mom and dad for their purchases according to a recent report; but hey, they're easily swayed to try something new! Yeah, that makes a lot of sense for advertisers. /S OK, the grumpy old guy is off his soapbox for now.
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fmdj1
Bronze Level Member
Posts: 143
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Post by fmdj1 on Apr 18, 2019 19:49:33 GMT -6
I don't define myself as old (55), because I'm still working and will continue to work for at least another 10-15 years to have a decent retirement; so I'm still spending money on a regular basis. However, advertisers don't see it that way. Once you hit 55, you become invisible to Nielsen and most advertisers. Nevertheless, I'm pleased to see that at least one station in the Salt Lake/Ogden/Provo area isn't ignoring us baby boomers. We're still alive, and we still have money to spend! David, You're exactly right! A friend told me one of the big problems and why many stations got away from 50's and 60's pop is because they rely on national ad buys as a significant source of their revenue and most of buyers for those national ad firms are millennials who don't really appreciate the power of baby boomers. The thing is, studies show that baby boomers now control 70% of the disposable income in the US. It is, in my opinion, crazy to ignore that. Further, 55 is not old. Maybe 50 years ago 55 was considered old, but with increases in not only life expectancy, but quality of living, 55 is now prime of life, and retailers are doing a better job of realizing it that ad agencies are. As an example, consider how many 55+ housing communities are popping up all over the country. People used to believe that someone lived in a home until they died or moved to assisted living. Now smart builders know that people 55+ want to be in an active community that is exclusive to their demographic. And that is just one small example of businesses that realize there's good money in targeting baby boomers. It still amazes me that there is example after example of how much power and influence baby boomers have and yet so much media ignores them.
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fmdj1
Bronze Level Member
Posts: 143
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Post by fmdj1 on Apr 18, 2019 20:00:07 GMT -6
I'm sure I've explained this before, but for the benefit of those who may not have seen it I'm going to do it again. The reason advertisers don't like 50+ has nothing to do with whether the listeners have money to spend.Stop. Go back and read that last sentence again. The entire point of advertising is convincing someone who doesn't use your product or service to start using it. The simple fact is that the longer we're around the more experience we've already had trying anything that's out there. I know what Coke tastes like. I know what Pepsi tastes like. I know that I like Coke better. Pepsi can run all the ads they want and that isn't going to change anything. Back when I was 20 I hadn't had that depth of experience yet and I was much easier to convince that I should give Pepsi a try. It's really that simple. A lot of people just have a hard time accepting it. I'm sorry. I don't like it either, but that's how advertising agencies work and they're right for the most part. You know how much I like and respect you, so I hope you don't mind that I disagree a little. One very important point of advertising is to get people to try a product or service, no doubt. But just as important to advertisers is to keep their product/service top of mind. If Coke stopped advertising, their loss in sales wouldn't come just from people who never tried Coke deciding not to try it. A huge hit would come from people who are not associating their desire with Coke anymore. Additionally, advertising makes a huge impact on public image. There could be arguments either way about the superiority of WalMart vs K-Mart, but there is no doubt WalMart walloped K-Mart and continues to thrive because they protect and polish their public image much better with advertising than K-Mart ever did. I think the reason advertisers don't like 50+ has just as much to do with who is making the buy (usually much younger reps) as with what they are trying to do with the ad.
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Post by CAwasinNJ on Apr 18, 2019 23:26:45 GMT -6
I don't mind that you disagree, but it isn't me you're disagreeing with. This is what all the big ad agencies in the country are buying and what all the big radio groups are selling. If there was a way for the iHearts and Cumuluses and Entercoms of the world to fluff up their rates on their higher demoed stations they'd do it. You're also quite correct that maintenance of brand loyalty is something to pay attention to. I'm sure the Cokes and McDonalds and such of the world do advertise on Music of your Life and such, but that isn't their focus.
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