Defining the Silver Experience

The Silver market has been increasingly talked about. It has even become a key political agenda in face of rapid aging societies in the world. Notably, this segment of individuals are born between 1946 to 1964. The Pre-65s or simply Silver segment. So what makes them the talking point? Simply because of their sheer numbers, in the hundreds of million worldwide and billions in net worth going into their sunset years in a short span of this decade. They are also the parents of Gen X and Ys.

This blog is written for the benefit of brands or owners who like to reach out to them by providing great Silver experiences. Also to highlight some of the potential challenges they may possibly face.

The Silver Experience should revolve around these push factors;
1) Simplicity
2) Communication that encompass comfort, value and trust
3) Mental and Physical Well Being
4) Accessibility

Simplicity
The key driver for having simplicity as a desired experience is mainly due to Silvers need to down-shift, not disappear. There is clear distinction between the two. The Silver generation has seen one of the most significant changes of post-war modernization are still hungry to learn and adapt to the society. They will be quick to jump at you for dismissing them as 'behind times' or backwards. Their life experiences are brewing with an enormous amount of information and knowledge, waiting to be tapped. Today, some brands targeted at them may be too overwhelming and considered to be 'complex and unapproachable'. A clear and simpler way of communication is thus desired that communicates sincerity and trust is more desirable. Perhaps sharing is a better term to use for them rather than teaching or educating them about a brand or product. A softer, simpler approach please.

Brand Communication - Comfort, Trust and Value
These 3 traits should form the basis for any brands communicating themselves to the Silver market. Each of these trait is a requisite for the next and creates strong emotional bonding. To engage them is to open a door for them to step into you. A permissive approach. Brand X need to build a level of initial engagement with them, making them feel comfortable letting you in. This is followed by slowly building trust or bridges to communicate the benefit of the product and service that you are providing. Lastly, showing them the value of using your brand will round off the whole engagement process. It does not stop here. Like any brand, this is a continuous process of engagement, never once off. However, building a platform to create the initial outreach is crucial and the hardest. If this platform is not built, nothing else really matters. Brand owners need to think really hard how to create the initial outreach. The challenge lies in recognizing the diversity of many segments and getting their attention.

Mental and Physical Well Being Needs
Possibly one of the highest priority in their list of needs and wants from research is the subject of wellness. The success of health care products and services which take care of their well being are milking the most from this need. Spin off industries such as travel, self improvement courses etc are the result of addressing this. Be it a Silver cosmetic brand that exclusively takes care of aging skin or a travel agency that appreciates the slower pace of Silver tourists. Brand owners should take a closer look to refine some of these products and services, it is probably a lot easier than inventing something completely new. Or how about cooking classes that involves both the grand parent and grand kids? The possibilities are out there.

Accessibility
The pace and complexity of today's life may intimidate some of them. Feeling disconnected or overwhelmed, they turn to the next most accessible means. Yet, brands are slow to adjust or worst, turn a blind eye on them. Leaving them out completely. Good example of adaptation to allow this Silver segment into their brands such as Baidu123 which creates a search engine just for the elderly. Large fonts and special  interest categories (based on research of most searched words by this segment) are within reach. Again, it reinforces the importance of accessibility. More research can  be done on how this segment process information. Next, using User centered design thinking can be applied to create compelling solutions for their needs. For a start, travel brochures and instructions should consider making their fonts bigger. Next, call your friendly brand consultant. Here is one that is specialised for this market.

I hope to see their lifestyle improve over time with great experiences. From the social responsibility angle, giving your time to reach out to them can be extremely fulfilling for you too! Do write to me at leong.lim@gmail.com if you are interested to know how you can make a difference. Click on COPE to find out more. Hear from you soon.