‘Truths’ About Women’s Mindsets As They Age.

According to the results of a new study by Frank About Women released at the Beyond the Numbers — The Mature Market Summit in New York this week, everything you thought you knew about aging women — their mindsets, behaviors and motivations — just might not be true. But marketers who understand the motivations of women as they grow older have an enormous opportunity to grow their brands with older female consumers.

The national study, Aging Redefined II: A Frank Perspective on Marketing to Women as They Age, debunks many of the age-old myths about women and aging, especially how they make buying decisions related to product categories and brands. The study focuses on women over the age of 50. It was completed by Frank About Women based in Winston-Salem, N.C.

“Overall, we found that older women lead dynamic lives, are more likely to seek out new experiences and develop new relationships with brands, long after many marketers have dismissed them,” said Carrie McCament, managing director, Frank About Women.

Women Never Grow Old

In the study, women reveal that they don’t see themselves as growing old.

A surprising 25 percent of women in the survey say “old age” never begins. For the majority of women, the older they get, the less likely they are to fear aging. Additionally, the majority of women over age 50 do not find getting older to be depressing.

Aging Women are Eager to Try New Products and Services

Overall, women over the age of 50 don’t see themselves slowing down as they age. In fact, many are just getting started. The study shows women grow more open-minded, not less, as they age. In fact, older women are more likely to say they enjoy trying new things and are less likely to describe themselves as “set in their ways.”

“A common misperception is that older women are no longer open to new ideas, new experiences or new products,” McCament said. “We found the opposite to be true. The older a woman gets, the more likely she is to relish new opportunities and experiences.”

Sixty-five percent of women in the survey who purchased a new product in the past 6 months were over the age of 50. Technology-related products, that allow them to stay connected to their friends and family, rank at the top of the first time product purchase list, with 47 percent purchasing electronics (DVDs, digital cameras and wide screen televisions), 19 percent acquiring cell phones and 16 percent buying computers for the first time.

Products and services that allow women to stay active were also popular, including new automobiles, recreational products, cruises and extreme experiences. One 61-year-old woman had even purchased “a ride on an Iditerod dog sled.”

The study shows that, as women age, they also tend to become more socially involved. One-third of women over the age of 50 regularly perform social service work well into their 70s.

Older Women Spend More, Upgrade Quality

As women work later into life and control more financial assets, more than half of women in the study say they are upgrading the quality of products and services in their lives. One 55-year-old woman commented, “Advertisers don’t seem to understand that most of the wealth in this country is in the hands of older people.” As they upgrade quality, on average, women over the age of 50 spend more than women between the ages of 20 and 49.

Aging Well Means Feeling Great

According to the women in the study, the key to staying young-at-heart is staying healthy. While women are realistic about the consequences of aging, they are not stymied by their fears. Most women indicate the development of health problems (73 percent) as their greatest fear related to aging. Sixty-one percent of women worry about becoming a burden to others, becoming helpless (60 percent) or losing their memories (58 percent).

However women become significantly more vigilant in their efforts to prevent the effects of age as the years go by. Seventy-one percent of women over the age of 50 take vitamins (versus 59 percent of women age 20 to 49).

Sixty-seven percent see their physicians for regular check-ups (versus 48 percent of women age 20 to 49). Sixty-eight percent eat a healthy-balanced diet (versus 53 percent of women age 20 to 49). Half of them exercise regularly (versus 44 percent of women age 20 to 49).

Older Women Give Mother Nature a Helping Hand

In the study, 86 percent of women over the age of 50 stated that the key to feeling great means maintaining good health, not good looks. However, all women, no matter the age, are not above giving mother nature a helping hand when it comes to covering up the telltale signs of aging. Forty percent of all women over the age of 50 use hair color to disguise their gray strands. And approximately one-third of women over age 50 use cosmetics and anti-aging products.

Tips for Marketers to Connect with Older Women

When it comes to marketing to women as they age, a majority of women feel patronized. “It’s no wonder that women over the age of 50 long for better, more relevant communication from companies that market to older women,” said Jennifer Ganshirt, a director with Frank About Women. “The women in our study cited the fact that they are barraged by ads for adult diapers, medic alert bracelets and life alert alarms. Much advertising uses scare tactics to motivate purchases. And the imagery featured in marketing materials frequently portrays older women in unrealistic settings. One woman said that ‘if she
listened to marketers, she’d already be dead!'”

At the conference, McCament and Ganshirt recommended tips for marketers to better connect with women as they age. Women over the age of 50 want advertising that appreciates the wisdom that comes with age. Marketing materials should appeal to a woman’s rational and emotional reasons for purchasing a product. Images portrayed in communications should reflect healthy, radiant, diverse and active women interacting with each other, their friends and families. Overall, marketing should demonstrate an appreciation for the wisdom that comes with age.

The online study, weighted to be nationally representative, was conducted in November 2004 and was based on 1,155 responses from women ages 20 to 97.

For more information at http://www.frankaboutwomen.com