A Few Thoughts About Retired People by David Ledoux
A very old grandmother lived with her daughter and grandson.
As she grew frail and feeble, instead of being a help around the house, she
became a constant liability. She broke plates and cups, lost knives and spilled
her tea. One day, exasperated because the old woman had broken another expensive
plate, the daughter sent the grandson to buy his grandmother a plastic plate.
The boy hesitated because he knew a plastic plate would humiliate his poor
old grandmother. But his mother insisted, so off he went. He returned, bringing
not one, but two plastic plates.
"I asked you to buy one, " his mother said. "Didn't you hear
me?"
"Yes," said the boy. "But I bought the second one so there
would be one for you when you get old and come live with me."
Aging. We can't stop it. And it's becoming the single most powerful
socio-economic force in the North American economy. Not only will you and I
eventually face it personally, we will face it daily in our businesses.
I've just returned from spending a week with my folks in Laughlin Nevada.
They are both retired, and spend the freezing cold Canadian winters down south.
They have worked all their lives to accumulate enough wealth to enjoy their
"golden years". My father confronts the specter of heart disease, my
mother battles cancer and osteo-arthritis.
You can learn a lot from hanging around seniors. Mostly where the bargains
are. My father is a retired educator, with a post-doctorate in educational
administration. He was more than willing to share his thoughts with me on the
graying of America.
My father lumps seniors into two categories. Those with money, and those
without. The ones with money have two sub-categories. Those who will spend money
in exchange for convenience, and those who are going to their graves clutching
their wallets.
He told me that the bank lineups in Laughlin are enormous, and 99% seniors.
When I enquired why they don't use bank machines, I was told because a bank
machine charges a $2 surcharge. He told me the lineups for gas are unreal, circa
the '70's oil crisis. Seniors shop around to save 5 cents a gallon and then
lineup. Making their little pile of money last until death is a full time job.
My dad always has made fun of my little MLM ventures. He knows the kind of
cash flow I enjoy now, but still he bugs me by shaking his discount bottle of 99
cent vitamins in my face. But he makes his point very loud and clear. "If
you want to sell to the bulk of seniors, be prepared to compete on price."
"But, " he continued "A big portion of seniors will gladly
give up the bucks if you can save them time. Convenience is a bigger motivator
to seniors than price. The price-conscious ones can always wait until next week
for the sale. But for old farts like me, I'll gladly pay a premium if you can
make my life easier. Being retired is all about simplicity and routine."
Here's my question to you. "If you can't compete on perceived price
because your product is of high quality, how can you modify your sales
presentation to reflect convenience?"
That's your homework assignment. Create a sheet with The Top Ten Ways My
Product Saves You Time, Headaches and Heartaches. Use these bullets in your
story. As America ages, selling on convenience will be a major play for smart
marketers. By assembling your reasons now, you can get a head start. Every eight
seconds someone turns 50 in America!
Next month I'll talk about how the tight purse strings of an aging population
will affect our economy. Until then, make it a glorious month!
David Ledoux
