The “get them young” myth

On the 26th April the FT had an article titled ‘Affluent over-50s accuse advertising industry of ignoring the 'grey pound'. . The FT is a subscription service so you may not be able to access the article.

In summary: A report has been released from Millennium (a UK, 50+ advertising agency) stating that the overwhelming majority of over-50s believe they are ignored by the advertising industry despite being one of the most affluent sections of society.

The counter argument was then put by Simon Silvester, executive planning director at Young & Rubicam Europe "Yes, the over-50s have got a lot of money but they are less persuadable. The best time to talk to them was 20 or 30 years ago when they were forming their brand preferences." The good old “get them young” argument.

In today’s FT there is a letter from Mr John O'Sullivan (MWO Advertising).

I quote: “Continuing this logic (get them young argument), can we expect luxury goods, cars and financial services to be advertised to younger and younger people? After all, the younger they are, the more persuadable.

You can see it now. The ad break in Bear In the Big Blue House. No more Barbie, no more Action Man. No, instead, ads for pension plans, big BMWs, Gucci and so on.

On balance, perhaps we in the advertising business should not avoid talking to people just because they are not an easy sell. After all, if we do succeed in persuading them, at least they (unlike their younger selves) have the money to purchase.”

And so say all of us!!