The world is ageing
The question is, how should businesses respond?
The United Nations calls the current wave of ageing ‘unprecedented in the history of mankind’.
While academics pour over the data, the facts are clear, the ranks of older consumers are growing and most companies are ill-equipped to deal with them.
Five
Universal
Truths
- 1 Physiological ageing is the only thing that all consumers have in common
- 2 Physiological ageing affects virtually all of the touchpoints in the customer journey
- 3 Touchpoints that satisfy the needs of older consumers work for all other ages
- 4 An outstanding Customer Experience requires all the touchpoints are age-neutral
- 5 Creating an age-neutral Customer Experience costs no more than one that isn’t
1. Most of the established CX techniques only evaluate the existing experience. They don’t identify problems before they occur or they don’t tell you how to improve the experience.
2. The definition of CX is becoming limited to only refer to the digital parts of the customer journey. True CX is the interaction between organisation and customer over the duration of their relationship and it should be measured across all touchpoints along this journey.
3. Important elements of CX are often designed, in most cases unwittingly, with younger consumers as the frame of reference.
In a world that’s ageing more dramatically than anytime in history, and with older consumers holding considerable purchasing power, it makes good sense to ensure that adults of all ages, Gen A~Z, can access your brand. Watch our short video about Lifetime CX.
Our opinion
Responses to some hot topics
Gen X? Gen Y? How about Gen A~Z?
In many countries, younger populations are declining in numbers yet businesses obsesses over them while turning a blind eye to mature customers with money. It does not need to be an ‘either/or’ situation.
Sure there are categories that focus on specific age segments but regardless of age, people need to eat, dress, maintain their health and beauty. They want to travel, to learn and to be entertained.
We believe there is more that unites generations than divides them. Rather than focus efforts around these notional age-segments, our times call for a different, more inclusive approach.
Age, lifestage or lifestyle?
Age has always been a poor predictor of behaviour. An adventurous 70 year-old can have as much in common with a similarly minded younger person.
They may buy the same gear and travel to the same places. So why would you ignore older people who want to buy your products or services?
Loyalty?
Traditional marketing segmentation was based on the notion of customer loyalty.
Those days are gone. Loyalty can be lost as fast as it’s won. So with the possible exception of a few categories, the concept of recruiting only younger users in the hope of lifetime loyalty does not stand up to scrutiny.
Welcome everyone, target the few
Brands need to rethink their customer experience to ensure that it appeals to all adults regardless of age.
What’s more, brand communications can be used to message different segments with different needs. Ageless communications will always win in an ageing world.
Think journey, not silos
Perhaps the greatest challenge facing organisations today is the ability to transcend department silos to provide a consistent customer experience.
Too often the term CX is limited to online or another aspect of the customer journey. Our Lifetime CX process covers the entire customer journey.
