There is an interesting article in the February edition of Research Magazine (The magazine of the Marketing Research Society). To view the thing you will need to register on the site (free registration).
The article’s full title is “How can a young industry understand a target demographic such as the over-70s?” It explains how Britannic Retirement Solutions (provider of equity release finance) and its advertising agency (WFCA Integrated) used a market research programme to understand the behaviour of their target market (the 70+)
The average age of the advertising team was 32, well under half that of consumer group they were trying to engage with their compelling messages and images.
The article explains how a group of 70+ (titled the ‘grey army’) was persuaded (not an easy task) to take part in a series of focus groups/meetings and the impact it had on the advertising agency and their client's management.
It appears that this research had a very positive outcome “The insights which these sessions generated showed in the results. The message and contact strategies were integrated and overall business performance rose and rose. Overall acquisition costs were reduced by 65%, and cost per sale far exceeded expectations and targets – good news for BRS and WFCA Integrated.”
It is good to read such research is taking place but a bit disturbing that it appears to be so unusual.
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