For people over 50, the concept of longevity is about more than just living a long life. According to Michael Clinton, it’s about making the most of life after 50. His company, ROAR Forward, advises marketers on what those 50-plus respond to and why.
Clinton, a former president and publishing director for Hearst Magazines, chose not to retire but rather to “do something else” when he left his job at Hearst. He believes that retirement is a construct that doesn’t really work anymore, especially for those who are 65 and healthy, with an expected 30 more years of life.
Understanding the 50-Plus Demographic
Clinton has written two bestselling books, “ROAR into the Second Half of Your Life” and “Longevity Nation”, which introduce the concept of being a “re-imagineer” to describe people who pursue a midlife renewal. He formed a joint venture with Hearst to create ROAR Forward, a B2B intelligence platform that tracks and translates the trends and motivations of consumers over 50.
Travel is an important component in the lives of re-imagineers, and Clinton himself has traveled to 126 countries and written books about his experiences. He believes that travel is one of the top priorities for re-imagineers, who want experiences, not just material possessions.
Brand Loyalty and the 50-Plus Cohort
Clinton notes that brand loyalty is not a trait of this cohort, and they are downright “brand-promiscuous”. To keep them coming back, brands must consistently present new approaches and offerings, and speak to them with contemporary messaging, in both visuals and words.
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He cites Oceania Cruises as an example of a company that has successfully done this, with new ships, expanded itineraries, and dining experiences that are in tune with what passengers are interested in. Clinton believes that companies like Backroads, an adventure travel company, also get it right by representing their clientele in a contemporary way.
Clinton interviewed Tom Hale, the founder of Backroads, for his most recent book. He believes that Backroads knows how to speak to its very loyal clientele, and that their marketing efforts are effective because they show people over 50 as active, joyous, and smiling.
The Benefits of Travel for Re-Imagineers
Travel itself returns the favor to re-imagineers, helping them retain mental resilience. Clinton notes that neuroplasticity is alive and well throughout our lifetime, and that travel provides complex tasks that keep the brain working, such as exposing oneself to new cultures and experiences, visiting museums and events, and learning phrases in another language.
The longevity industry is expected to be a long-term growth industry, with the first millennials turning 50 in four years.
With 36% of the population and over $12 trillion in spending power, the 50-plus demographic is a significant market for travel companies. By understanding their needs and desires, and by providing contemporary messaging and experiences, companies can tap into this market and drive growth.