The Overlooked Seniors Market: Loaded and Looking for Investment
Financial Services Marketing (03/01) Vol. 3, No. 2 p.9; Chapman, Claire
In his new book entitled, "Marketing Financial Services to
Seniors," financial planning expert Larry Klein takes a look at the
emerging seniors market and offers useful strategies for investment
advisers. "Marketing Financial Services to Seniors" is a manual for
investment advisers who wish to expand into the growing seniors market.
Klein spends a great deal of time analyzing senior psychology and
addressing erroneous myths prevalent in advertising and marketing
financial products to the elderly. Common mistakes include creating ads
that emphasize opportunities, returns, and greed, or in any way indicate
a high return, none of which appeals to seniors because they are
attracted to safe investments. Therefore, ads marketed to seniors
should emphasize safety and opportunity to preserve their financial
independence, Klein says. The 150-page book covers territory already
covered in other books, except Klein includes more that 25 pages of
appendix references to advertise "tried-and-true" applications of his
own.