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Our insights > Acquiring and Retaining Older Customer Demographics
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Acquiring and Retaining Older Customer Demographics

author

Sorcha O'Boyle

date

Aug 14, 2020

read time

3 minutes

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It’s no surprise that older customers’ shopping behaviour has changed significantly since March – 65% of over-65s have shopped online in the past 12 months, up from 16% in January. 
And although we all know that age isn’t the only indicator of customer behaviour, we’ve done some recent analysis here at more2 which proves that, although older customers may have a lower AOV they also tend to be more loyal than younger customers. Higher repeat purchase rates offset these customers’ lower average spend, making them one of the most valuable cohorts out there.

In the first of our Summer Workshop Series at more2, we delved into the finer points of  how to engage with older customers. Led by John Knapman, more2’s Client and Media Director, and Chris Simpson, our Digital Director and CMO, the session focussed on market trends, how to target older customers on digital channels (hint: think about YouTube!), and how to make sure your catalogues are a) easy to request and b) delivering a genuinely incremental impact.

You can watch the full video here or read on for the 3 key points:

1. Go digital

Although not all older customers can tell their Instagram Reels from their TikToks, that doesn’t mean you should write them out of your digital plans altogether.

Facebook has nearly 9 million users over the age of 55 and is the platform where older customers feel most at home. And happily for marketers, it looks like it’s going to stay that way.

As always with Facebook, the best thing you can do is give it a few versions of your creative and let the AI do its thing – it’ll soon learn which ads perform the best among older users and serve them accordingly.

2. Relationships are everything

Older customers can be hesitant to buy online, especially from brands they’re unfamiliar with. To offset this, make sure your website is easy to navigate and your phone number and webchats feature prominently on every page.

All customers appreciate the human touch so do everything you can to build that interpersonal relationship via your website –  it’ll make your life easier if customers can ask about garment fit and avoid endless returns!

3. Use direct mail – but be selective

Direct mail is a lucrative channel but it’s also the most expensive. Given the expense, it’s important that you can prove that every catalogue you send delivers incremental profit.

And if they don’t?

Think about interspersing catalogues with emails – at more2 we’ve found that longform email works well among older customers who tend to be time rich and enjoy spending time learning about the products they buy. So make sure your content is engaging and don’t be afraid to add that extra detail!

Have questions about anything you’ve read here? Drop us a line at hello@more2.com, we’re always available for a chat!

Fancy joining another of our workshops? Some places are still available for our September Series so sign up here to secure your place!

author

Sorcha O'Boyle

date

Aug 14, 2020

read time

3 minutes

share