The Silver Marketing Association have launched a new report offering insight into segmenting the over-50s market, in collaboration with lifetime mortgage lender Pure Retirement, and with a range of expert contributors including Let’s Talk Ageing.
The report segments the over 50s demographic into categories split by age, lifestyle and life-stage, examining key attributes and points of interest as well as detailed communications preferences. It’s a practical and pragmatic guide for use by marketers as a reference tool to understand the over 50s audience and to develop meaningful campaigns by segmenting and engaging this diverse consumer group.
The UK has an increasingly ageing population with over 22,500,000 consumers aged 50+, representing over 35% of the UK population. It has been historically difficult to relate to and communicate with this complex older audience, and as a result it’s a demographic too often ignored, or simply categorised into one homogenous sector. The new report is designed to simplify this challenge, enabling marketers to actively engage these customers by collating invaluable insight from a wealth of expert contributors.
The project was initiated by the Silver Marketing Association, following the success of 2021’s award-winning Brand Research Report into the over 50s market, led by Rachel Pease (pictured), head of marketing at Pure Retirement.
Debbie Marshall, managing director of the Silver Marketing Association, said: “We wanted to work further with Pure Retirement, delving deeper into this diverse demographic, and examining the ways in which they can be better understood.
“Segmenting the silver audience is an area of key importance for marketers who want to better comprehend its characteristics and behavioural trends. It’s been a pleasure working with our partners at Pure Retirement, Let’s Talk Ageing, and Mash Marketing, and we hope that our report will be a useful tool for marketing teams across all industry sectors.”
Pease added: “It’s a priority for us at Pure Retirement to continually develop resources for financial advisers to better understand and engage their over 50s customers. It was a privilege to work with expert contributors also including Experian, Dementia Adventure, Rest Less and Noon, to create a meaningful report that we hope will really make a difference to the positive engagement of the later life market.”
50 Shades of Silver: Segmenting the over 50s by Age, Lifestyle and Life Stage report is available from The Silver Marketing Association and Pure Retirement.
