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I see a missed marketing opportunity that advertisers should be aware of. Please take note that 63% of all mail-in and early in-person votes in this year’s election were cast by voters 50 years old and over. Strikingly, only 5-10% of advertising dollars are spent targeting this group, according to The Harvard Business Review.
The thinking 30 years ago was that those over 50 had no money to spend so why bother. But that was then and this is now. The reality is that this is the group that has the most disposable dollars.
Now let’s take a look at those that do vote.
I’m comfortable with the assumption that this group is very aware, pro-active and are more likely to answer a call to action. How great it would be to see a marketing budget targeted by age of voters instead of a ranker with a sample size of one thousand.
My suggested way is to use a sample size of 88 million who voted in-mail and early in-person. If it is my product and my ad budget, I’m going to change up the parameters to try it this way one time.
Just sayin.
Dan Mason is a Venture Parnter and Strategic Advisor to SeventySix Capital, and the former President and CEO of CBS Radio. Dan’s radio experience spans decades and includes time as Chairman of VSiN, and President of Group W Radio. He has also served as the National Association of Broadcasters Board of Directors, and contributed on-air for CBS Sports Network and the Horse Racing Radio Network. Reach him by email at RadioDanMason@aol.com.
