Introduction
Utilities should think harder about the over-50s. This segment contains
greater value opportunities, and seniors are beginning to switch. By 2025, the
over-50s will make up 40% of the customer base in Western Europe. Utilities
cannot ignore this group, but nor can they treat the over-50s as one segment of
the population. In fact, this segment is more diverse than any other age group.
Scope of this report
- Segmentation of the 'over-50' lifestage, based on lifestyle and attitude
as well as age and income.
- Insight into the lifestyles of senior consumers, providing the basis for
segmentation.
- Advice on how to communicate with senior consumers - the channels to use
and the marketing myths to avoid.
Research and analysis highlights
Longer lives can mean more profit. Britons are now living to an average age
of 80 or more, with similar averages in the rest of Western Europe. So acquiring
a 50-year-old customer may be the beginning of a 30-year supply relationship
long enough for an attractive lifetime value.
This segment is diverse, utilities need to attract senior customers, but will
find it increasingly difficult if they continue to use a mass-market approach.
As utilities become more loath to compete on price, they will find that some
segments of senior consumers are especially receptive to customer service
propositions.
Avoiding the myths using outmoded stereotypes will not make utilities appear
relevant. Instead, they should show seniors as a critical part of their customer
base.
Key reasons to read this report
- Gain commercial advantage through better understanding of the largest
section of the customer base in Western Europe.
- Understand how lifestyle segmentational factors can be introduced into a
customer database.
- Design marketing that demonstrates awareness of the lives and needs of
senior consumers, thus avoiding alienating them and even losing them to
rivals.
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