Despite this current and future financial power, most marketers are ignoring this demographic, and people like me are taking notice. Most women in this demo think consumer brands underestimate their spending power and intellect, and only 5-10% of marketing budgets are earmarked for an over-50 audience. Imagine the opportunity for brands that recognize and respect the power of these audiences and decide to enter this vacuum by marketing to us directly.
That includes earmarking bigger budgets to put ads in front of these audiences, but that’s not the only way to speak to this demo. Brands must make us feel more represented and supported in their creative campaigns and brand initiatives as well. When more than 90% of people over 40 can’t remember a brand using someone their age in marketing campaigns, casting midlife women can go a long way with customers (see: Bobbi Brown’s Jones Road Beauty). When three-quarters of millennial women say they want brands to speak about current realities with honesty and candor, those that avoid stereotypes and tropes by centering real customer voices and experiences will build trust and affinity (see: Dove’s beloved Real Beauty campaign). When the vast majority of millennial women believe that brands should actively make people’s lives better and hope to see brands advocate for policies that advance women’s rights, marketers should consider what advocacy campaigns align with both their brand value proposition and the pain points of the audience they wish to reach. (See: Bobbie’s Paid Leave For All partnership).
Initiatives designed to capture these audiences pay off. GM focuses on speaking to women’s concerns about car safety, and they’ve built a robust network of female car dealers. Buick has the highest female buyer representation in the U.S. of any automaker. L’Oreal has shifted to casting older models in its campaigns; the world’s biggest beauty company boasted sales up 9.4% in Q1 2024.
As my husband and I add a second child, a second car, and a new kitchen to our household, I have a lot of spending decisions to make, with few brand affinities that are fully entrenched in these areas and an interest in spending with brands that acknowledge my value. A challenge to marketers: Convince me to buy what you’re selling. I’m open to it.