Age-Based Marketing: Rest in Peace.
After a long and fruitful life, Age-Based Marketing is dead. Cause of death? The New Economy, youthful Baby Boomers and just plain old age.
Once upon a time, Americans marched a predictable path: high school to college to career to marriage to family to retirement and the golf course in Florida.
That’s all changed.
Today, many 50 and 60 year olds are launching businesses, reinventing their careers and some are even starting new families. It used to be we could market products and services based on the age of our target audience, but that strategy, like your Filofax, is old school.
It’s time to retire Age-Based Marketing in planned giving and promote a savvier, more energetic strategy…
Segmentation.
Segmentation and message-to-segment marketing is crucial in planned giving, the most personal type of giving. Smart segmentation involves sending a specific message to younger donors, specific messages to single donors, both young and older, a specific message to widows … You get the idea.
If you’re still just mailing only to your most loyal donors (premium PG prospects, by the way) over 70…take a look at these numbers:
- By the time a prospect is 60, the chance of them leaving you in their will is less than 15%.
- 43% of bequests are created by those 55 and younger.
- 34% of all CRTs are created by those 54 and younger.
- 15% of all planned gifts are created by those 45 and younger.
The moral of this story? Reach out to everyone, creatively!
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