By Mitchell J. Schlesinger

In this article of our series on demographics and psychographics, we start with the most impactful demographic trend in our society, the graying of America and the significant opportunity it represents to Home Based agents.
Americans are living longer than at any time in our history and will seek fulfilling, educational and enriching travel opportunities at home and abroad like never before — and in larger numbers. The significance to this demographic trend is reflected in the following:

• Baby boomers and retirees over 65 represent the fastest growing demographic segment of the population. We have talked about 10,000 Americans turning 50 every day for years and combined with a decline in the birth rate, 40% of the overall U.S. population is over 50.
• In 1900, just 3.5 million Americans were 65 years of age. By 1998, that number grew to 35 million and projections are that by 2025 that number will be 70 million.
• And it has been further projected that by the year 2030, there could be more Americans over 80 than there are under the age of eight!
  This is an enormous opportunity for travel agents who can take advantage of senior populations in their communities. There are keys to the demographic and psychographic characteristics that make this opportunity so valuable:
• They are at a point in their lives where they want experiences that are meaningful, enriching and fulfilling. Many have traveled to core destinations and now want to travel to new and far flung lands across the globe.
• They have more time and disposable income, so their trips are longer and more international.
• They are most concerned with the value of their purchase. And since they can and will travel much longer, they are willing to spend $5,000, $10,0000, $15,000 or more on long, involved itineraries at home and abroad, as long as they perceive the trip is worth the price.
• And unlike families and working consumers, seniors are not restricted to any seasonality. The timeframe of their trip is insignificant, but many like to avoid traditionally busy travel timeframes.

Remembering the attention to the psychographics of this target audience, there are a number of steps to follow to capture their loyalty:

Marketing and Promotion
• If you are going to sell them worldwide destination travel, you must enhance your own knowledge. CLIA has excellent destination training and resources and the Internet has a vast array of sites.

• Remember, seniors are older, looking for assurances about the trip and will read materials thoroughly. Use direct mail to communicate, provide extensive details about the trip and answer as many of their questions in the materials you send. USE LARGER TYPEFACE, so that it is easier for them to read.
• Make sure the messages connect to their psychographic profile.
• Value, not price.
• Discovery, wonder and exploration, not the familiar.
• Education and fulfillment, not status or hype.
• Action, not passivity.
• Use other mediums with the same intent. For instance, instead of just a newspaper ad, write an advertorial in the form of a travelogue. If there is an applicable local radio program, participate as a travel expert to describe the trip in detail.

Customer Loyalty
Older clients are highly “brand centric.” They will remain loyal to a brand, product or service provider as long as they feel satisfied. There is significantly more commission at stake with this older target audience. And as your clients get older, you want them to purchase this longer, more expensive travel through you.
By continuing to recommend and arrange travel that fulfills their psychographic needs and wants and by providing them with very personalized service, they will remain very loyal to you — and tell others.

Planning
Due to the purchase cycle, benefiting from the senior market requires strict planning. Remember:

• This audience books far in advance. So you need to set up departures far into the future, as much as 9-15 months prior to departure.
• Focus many of these trips during timeframes outside overly popular travel periods. For instance, the Med is cooler in the fall and it is summer “Down Under” in January and February.
• Another plus is that many senior populations are concentrated in communities where it is easier to deliver your marketing messages to them. Use the resources available in the community and schedule personal presentations to describe trips.
• Seniors love to travel in groups and prefer an escort, which adds the sense of nurturing and safety.
  Dramatically higher purchase prices, significantly greater commissions and very loyal clientele. You may not like getting older, but you certainly will like your clients who do!!

Mitchell J. Schlesinger, president of MJS Consultants and a cruise industry veteran, can be reached at mjschlesinger@bellsouth.net