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Who Shall Be First?

America is a country that loves firsts and people who want to be first.

The Wright Brothers, Neil Armstrong, Henry Ford, Michael Phelps and, of course, Barack Obama are "first" names that come readily to mind.

So, in a country that loves firsts, here's a question:

Who will be the first mainstream, big-name, famous brand, non-pharma CMO to spend a serious chunk of the marketing budget against the 50+ consumer audience?

I know, I know -- it's not like I'm asking for something easy like defying gravity by jumping off a cliff with a wing strapped to your back or landing on the moon, walking on the surface and coming home again, or running for President and changing the entire course of American politics and history in the process.

No, this is seriously hard. And loaded with risk beyond anything mortal man has ever imagined.

Whoever has the stuff to stand up and do this will be going against all known marketing logic -- something that surely would have caused the likes of Einstein, Darwin, Newton or Copernicus to lock themselves away in their ateliers, never to be heard from again.

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I mean, who in their right mind would target a marketing message at 90 million people who control 75% of the country's wealth, earn $2.5 trillion dollars annually, will inherit over $15 trillion in the next 20 years and have 2.5 times the discretionary spending power of any other consumer group?

Yes, it does sound slightly suicidal.

But I'm sure Chuck Yeager had thoughts like that the first time he flew faster than the speed of sound. Sure, it wasn't marketing, but it had to be damn scary all the same.

There is no question about it -- facing the largest, wealthiest, fastest-growing consumers on the planet and offering them messages and products that appeal to them is going to require the kind of bravery not often seen outside of comic books or movies.

Especially since AARP studies show that the majority of 50+ consumers feel that advertising and marketing either portray them negatively or ignore them altogether. And they're just waiting for someone to do it right so they can open their wallets and throw wads of cash at that brand.

And then, of course, there are the very real and daunting corporate consequences of such rash and unthinkable actions.

The huge sales success. The runs on products. The empty store shelves. The quarterly earnings and profits piling up all over the place. The stock prices going through the roof or the IPO offers maxing out the inbox.

And let's not forget the personal repercussions for the rogue CMO.

The taxes on that giant bonus. The furnishings that will have to be bought for the corner office and the oversized new house. Not to mention the struggle of choosing a color for the Ferrari California Spyder and which private school to send the children to.

It does make the blood run chilly and the palms sweat profusely just to think about it, I agree.

But we are Americans. We are pioneers at heart. We are the people who were born with the innate desire to know what's on the other side of the mountain. We coined the phrase "to go where no man has gone before."

And in my American heart, I believe there must be one. One CMO who will step up and step forward. One who will ignore the fear and accept the risk. Accept the riches and fame and comfort and guarantee of a big, cushy job at any company in the land.

One CMO who will stand tall and, with fists held high, say, "I, I'm the one. I'm the one who will break all the rules, ignore all the old, misguided thinking and say nay to the uninformed naysayers. I will do it. I will reach beyond my grasp and be the first. The first to take hold of the lowest low-hanging fruit in the history of marketing."

Okay -- maybe it's just too much to wish for, but it's my wish for 2010. And I'm sticking to it.

6 comments about "Who Shall Be First? ".
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  1. Patrick Scullin from Ames Scullin O'Haire, inc., January 7, 2010 at 9:29 a.m.

    Terrific article. Marketers all want the young ones forgetting who has the fat wallets... people who buy much more than just prostate and depression meds. Pity.
    http://www.thelintscreen.com

  2. Andrea Learned from Learned On, LLC, January 7, 2010 at 10:09 a.m.

    That internal/organizational change that is necessary to move from "but we've always done it this way or pursued the youth market" to something as rash as this (I love your sarcasm) is the sticking point. The stats and knowledge about the 50+ market have been out there for a while, and the dots have been connected by lots of smart people, but something - who knows what - keeps marketing decision-makers from scary, scary change. Your wish is a good one, Brent. It would be very exciting to see the first CMO take a stand on this topic (as well as a few of the other "emerging" research-founded/dots-connected consumer behavior trends).

  3. John Maher, January 7, 2010 at 2:23 p.m.

    As Andrea has pointed out, the data about the 50+ market segment has been in existence for a while. The problem isn't solely a lack of cojones by client-side marketing people. Ad agencies have beaten the 18-49, 25-54 drum for years. Why? Becuase the long-standing, prevalent culture at ad agencies is, if you're over 40, you're a dinosaur, devoid of all creative chops. God help you if you're over 50.

    And it isn't just among creatives. Now that digital media dominates the ad landscape, it's a closely held belief that if you're over 40, you don't have any idea about "new media." If you think I'm wrong, ask George Hayes, former McCann 30 year media vet, who was let go in 2006 by a recently-arrived media director who supposed implied George didn't "get" new media.

  4. Jan Sneed from Jan Sneed Public Relations, January 7, 2010 at 6:03 p.m.

    Fewer than 5% of the people working at ad agencies (and, yes, that includes media service companies) are over 50. The average age of a creative person at agencies is 28, and the average age of a media planner or buyer is 24. Does that give you a clue why the 50+ group thinks that most of the advertising out there is irrelevant? So, basically, if an advertiser decides they now want to target the 50+ group - the large group with the discretionary income - their agencies are incapable of reaching them with effective messaging.

  5. Mickey Lonchar from Quisenberry, January 7, 2010 at 6:10 p.m.

    Advertising has always been a "young" business, and as such, has never been comfortable talking to "oldsters." Ironically, what agencies and marketers are missing is that they already KNOW how to talk to Boomers. The best spots--the ones people love to see--resonate as well (if not better) with Boomers as they do with the "intended target." Dudes, we buy more than hemorrhoid creams and hearing aids!

    http://www.quisenblog.com twitter.com/mickeylonchar

  6. Jamie Dunham from Jamie Dunham | Brand Solutions, January 8, 2010 at 2:52 p.m.

    You nailed it! The size of the audience, the weath of the audience and the involvement in their kids lives (the Millennials) has huge implications for marketing. Here are two articles on Boomers and their spending -- one about movie marketing and the other about grandmothers and much they spend on their grandchildren. Grandmothers: http://wp.me/pyZwy-a5 and Meryl Streeps Wins With Boomers: http://wp.me/pyZwy-9A

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