Presentación Emilio Pardo AARP

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Relevance in the New Ageless Realities Emilio Pardo EVP & Chief Brand Officer SME Conference, San Juan, Puerto Rico October 12, 2011

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Transcript of Presentación Emilio Pardo AARP

Page 1: Presentación Emilio Pardo AARP

Relevance in the New Ageless RealitiesEmilio Pardo

EVP & Chief Brand Officer

SME Conference, San Juan, Puerto Rico

October 12, 2011

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We are a maturing society…

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Numbers to ponder…

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31% of the US population is 50+ = about 100 million people: three-quarters

of them are Boomers

32.8% of the PR population is 50+ = about 1.23 million people: 60%

of them are Boomers ♦

50 – 54 year olds have the highest median household income of all segments

=$66,244

As of January 1, 2011, just under 10,000 people will turn 65 every day –

for the next 18 years

Today, there are 40 million people over 65; in 2020 there will be 70 million

people over 65

In PR, there are 541 thousand people over 65; in 2020 there will be 983,130 people

over 65. (81% growth)

Today, there are 17 million people in the US 75 – 85 years old; by 2050, there will be

30 million people 75 – 85.

In PR, there are 167 thousand people 75 – 85 years old; by 2050, there will be 483

thousand people 75 – 85. (289% Growth)

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Boomer Nation

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The Boomer Market is… BIG!

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There are more than 96 million consumers in the US who are 50+

years of age. 77 million are considered Baby Boomers.

Source: US Census Bureau, US Interim Projections, 2004

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And It’s Getting Bigger…

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This is expected to rise to 103 million by 2012. This demographic

controls 67% of US wealth ($28 trillion) and spends

$3 trillion annually.

Source: US Census Bureau, US Interim Projections, 2004

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Puerto Rico: Demographic Shifts

1990 2000 2010

Puerto Rico Median Age 27.2 32.1 36.9

U.S. Median Age 32.9 35.3 37.2

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PUERTO RICO: MEDIAN AGE, 1990 - 2010

50+ Population % 0 – 15 Population %

1990 768,562 21.8 1,025,060 29.1

2000 1,004,500 26.4 967,075 25.4

2010 1,223,821 32.8 789,752 21.2

PUERTO RICO: % OF POPULATION 50+ AND 0 – 15, 1990 - 2010

By 2050, 50% of Puerto Rico’s population will be 50+.

Source: US Census Bureau, 2010

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Puerto Rico: Dreams for the 50+

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TOP DREAMS

Vacation & Travel 19%

Hobbies & Interests 18%

Children 12%

Good Health 9%

Finances & Money 8%

New Path 8%

Source: Core Q1. Thinking about what’s next in your life, I would like you to think about the kinds of things you dream about doing—these

could be things you have always wanted to do, but never got around to, or things you have done in the past and want to continue doing.

What would you consider to be the one thing that you would most like to do? (Open ended/Unaided response)

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Puerto Rico: Survey Says?

According to a 2010 survey, Puerto Rico’s 50+ population is financially powerful, young

at heart, protective of their properties, focused on their well-being, and live for the

moment while remaining fully capable of caring for themselves in the long run. They

have a desire to contribute to society and to the communities in which they live.

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So it isn’t about AGE…

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…it’s about RELEVANCE

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The Old Lens

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The New Lens

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Boomers: What’s Next?

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Only a third indicate they will stop working entirely Only a third indicate they will stop working entirely after they retireafter they retire

They are reThey are re--seeking their relevance seeking their relevance

through finding purposethrough finding purpose

They want products with proof – real real

value not perceived valuevalue not perceived value

Half feel finding a purpose in lifepurpose in life is more important

than making money

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What’s Next?

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What’s Next?

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The New Language of Living

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Concepts That Connect

Reimagine Opportunity

Accomplishment Connections

Learning Discovery

Growth Purpose

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The New Language of Living

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Words to LOSE Words to USE

Aging Living

Longevity Bonus/ The New Life Stage Opportunity Generation

Purpose Reinvention

Meaning Sense of Accomplishment

Life Long Learning Personal Growth

Stage Learning

“Aspire don’t Retire” Progression

Navigator “I’m not done yet”

Credible, Unbiased Source

Indeed, a survey shows that Boomers in Puerto Rico are rejecting labels. They

want to be treated as adults in their “mature stage” without labels referring to

them as “senior citizens.”

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The New Language of Living

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what’s out what’s in

guidance

advice

coaching

fresh perspectives

shared experiences

peers

the reality

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The New Language of Living

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real people, just like me.

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The New Language of Living

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mentors + allies.

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The New Language of Living

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language to lose…. language to use…provide guidance and expertise shared experience

coach ally

advisor mentor

expert fresh perspective

reinvent rally

AARP gives/helps you with AARP connects you to

information about it access to people who

have done it

the right language.

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The New Language of Living

the right language.

language to lose…. language to use…learn new skills adapt your skills to new careers

new skills training skills assessment

community service mentoring others, sharing your

expertise

meeting with a professional real human interaction

stories and conversations

opportunities

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Boomer Trends

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� Adult Proms: coast to coast, from 20s

to 60s

� VIP Rock Festival Packages: $1,000

air conditioned tents, gourmet meals

and golf carts to a special viewing

area

� 50+ Bikers: motorcycle makers see

upside in 50+ market; and side cars

make a comeback

� Burning Man Arts Festival: 50,000

attendees, 30% are age 40-80

� “Singularity” as a mind set; MIT,

Harvard and Bill Gates foresee

limitless life spans

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The U-bend of Happiness

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Source: The Economist, PNAS paper: “A snapshot of the age distribution of psychological well-being in the United States” by Arthur Stone

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AARP Brand Positioning

Future-oriented and Optimistic

“The anthem for these generations is the desire to grow, learn, and discover. They

have a positive view about these extra years of life. They see opportunity

everywhere and seek it everywhere.” *

Focused on Their Opportunity, Not Just their Age

“I’m not thinking about where I’ve been. I’m thinking about where I’m going.” *

Engaging (All About Them) instead of Paternalistic (All about Us)

*You have to think of yourself as ‘Me, Inc.’”*

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AARP Brand Positioning

As a diverse community of members, AARP creates

opportunities and drives social change to help

people overcome challenges, achieve goals, pursue

dreams and live their best life.

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� It’s about living not aging.

� Don’t categorize. Don’t label. Don’t

box them in.

� This is the Opportunity Generation.

They see opportunity everywhere

and seek it everywhere.

� They define and seek ways to

enrich their lives themselves. They

don’t need encouragement.

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How to Communicate to 50+

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� This generation has the desire to

grow, learn, and discover. They

have a positive view about these

extra years of life.

� For a great future, they see the need

to be open-minded, learn new

things, and embrace change.

� They see life as a “progression” and

“continuation.”

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How to Communicate to 50+

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50+, Technology and Social MediaTime to Debunk the Myths

“Smartphone Ownership Among Boomers and Seniors Explodes” –

Aging Online

“Social Media Now Popular Among Older/Adult Internet Users” –

Technorati Technology

“Social Networking Gains Among Older Americans” -- New York Times

“Downloadable interface simplifies Android phones for elderly users” – Springwise

“Baby Boomers Far More Likely to Click Online Ads than Younger Generations…” – Marketwatch

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Enter Segmentation

� Basis for more strategic and

prioritized development of

offerings delivering relevance to

different 50+ audiences

� Basis for supporting strategic

communication in ways that are

culturally and ideologically relevant

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Boomers are

NOT

Monolithic!

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50+ represent the largest, fastest growing, richest

consumer market on the planet, and:

� Generate more than 40% of all disposable income

� Account for 50% of all consumer spending

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If You Reach Them, They Will Spend

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50+ spend more than 2.5 times that of younger

consumers 18-34, and according to McKinsey:

� Buy 60% of all package goods

� 56% of all new cars

� 80% of leisure travel

� Are more likely to switch brands than people in their 20s and 30s

� Are willing to experiment: purchase more hybrid cars than other cohorts

� Are online in large numbers and spent nearly three times the national

average in online buying

BUT, only 10% of all ad spending is focused on the 50+ and many marketing

departments and ad agencies focus on 18-34 year olds.

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If You Reach Them, They Will Spend

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Ample opportunities…are there for the taking if we are:

CONNECTED

Understand WHO the Boomers are!

RELEVANT

Create value in peoples lives!

ENGAGED

In how 50+ people are reimagining life

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