Older demos - WAS: Change in New York Radio (again)

['iraapple']

An interesting article on this subject is contained in Strategy+Business
Magazine.  http://www.strategy-business.com/registration

If you go to that URL you will have to register to read  "50+plus: A Market
That Marketers Still Miss"

Here is a brief quote:

"Marketing assumptions are part of the problem.  Marketers are convinced
that mature consumers are brand loyal and stuck in the ways. They grasp that
boomers have money to spend, but do not understand the impact of longevity
on spending.  In fact, at 50 or 60, with 20 to 30 years of good health
ahead, boomers represent a renewed chance at lifetime customer value"

Ira Apple

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-----Original Message-----
From: boston-radio-interest-bounces@tsornin.BostonRadio.org
[mailto:boston-radio-interest-bounces@tsornin.BostonRadio.org] On Behalf Of
Sid Schweiger
Sent: Wednesday, March 11, 2009 7:12 AM
To: 'Boston Radio Mailing List'
Subject: Older demos - WAS: Change in New York Radio (again)

>>I've been somewhat noisily saying for several years that the 54+ crowd 
(which includes yours truly) is the forgotten demographic in radio 
broadcasting.  We're here, and we're HUGE.  Why is it there are seemingly 
very few stations around that play the music of our '50s and '60s 
adolescence?   Is there no ad revenue to be made from this??  Gimme a
break.<<

The issue is not whether or not the 55+ crowd buys products.  In fact,
there's some data to suggest that the 55+'ers are more easily able to buy
big-ticket items like luxury cars, cruises, etc.

The issue is that ad agencies and rep firms, which place a substantial
percentage of the advertising on major-market radio stations, are convinced
that older people are more set in their buying habits and are less easily
persuaded by advertising to try new products (except, of course, for those
products that would have a specific appeal to that age group).  I have yet
to see any reliable data to either prove or disprove that belief, but until
someone can convince them otherwise, you won't see music formats geared to
the 55+ set in large markets when there's (in their view) much more money to
be made from a music format with a younger demographic appeal.

Sid Schweiger
IT Manager, Entercom New England
20 Guest St / 3d Floor
Brighton MA  02135-2040