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UNLTD Live brought together an extraordinary group of Aging Influencers to examine the power and potential of the new aging consumer. (Need a refresher? Read The Future is Aging and the Opportunities Are Infinite for an event synopsis. Share it with your team so they’ll understand what you’re so excited about).

Experts agree the essential element to shift the paradigm and achieve business success with this influential consumer demographic is support and buy-in at the top level.

President and CEO Michael Tamblyn epitomizes that high-level buy-in. Rakuten Kobo is on target to achieve $600 million in revenues this year and they did it by building a business around the wants and needs of a sophisticated consumer. Here’s how:

Don’t assume your customers look like you.
Be open to change and be willing to take your business in a new direction.
Get to know older adults using solid research, focus groups and real-life conversations. Learn from them and love them.
Understand that older adults are adopting new technologies.
Put customers at the centre of product development.
Improving usability for older adults improves it for everyone.
Overcoming bias and ageism within an organization is an ongoing effort that has to be incorporated into every aspect of company culture.
Make age a part of the every creative brief and conversation within your organization.
Hire people who want to market to this demographic—they’re invaluable.
Invest in programs and charities that will support your customers. If they don’t exist, create them.

Change won’t be easy, but it will be worth it.

“It is funny how much people’s own sense of self image is bound up in the person they think they are selling to,” said Tamblyn. “We were a young innovative start-up filled with young innovative people and we were pretty sure all our customers were like us.”

When the company started researching and getting to know their actual customers, it changed their focus and their product.

“We are a perfect example of a company that is gaining commercial momentum as a result of being better at the changes that are necessary to succeed throughout the life course and it’s made us, a Canadian technology company, stronger, not just in Canada, but around the world.”

He encouraged the audience of business leaders and researchers to get behind age-related initiatives. “This is not what the cool kids are working on right now and that is fantastic because there is opportunity here. You don’t want to go to a party that’s already started: You want to start the party. Silicon Valley, with some exceptions, is not interested in older adults even though demographics are creating this insanely huge market. In years to come, Canada could absolutely be a leader in that market and I hope everyone here will help to prove me right.”

UNLTD Influencers. UNLTD Possibilities.

Connect with the new aging consumer.

Or, contact Anne Marie Wright, Partner at YouAreUNLTD directly.

In the coming days and weeks, we will be rolling out content delving into the themes and personalities discussed during UNLTD Live. Be informed, JOIN OUR NETWORK.

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