Niche Marketing Strategies for Tutoring Businesses to Attract Senior Citizens
For years, we've heard about the graying of our population from the baby boom years.
Our current class of senior citizens inductees (the population born during the Baby Boom after
World War II from 1946 to 1964) is going to make up close to 20 percent percent of the total
US population by 2029 according to the US Census Bureau.
What often goes unmentioned is that this mature population also controls one of the largest
percentages of disposable income. As a group, senior citizens are and will be for some time
the most affluent Americans. They hold about three quarters of the nation's financial assets
worth approximately $1 trillion in disposable income annually.
Again, that is $1 trillion dollars in disposable income annually.
Many product and⁄or service oriented businesses have taken the long view and begun
marketing various products and services geared specifically to the older consumer. Despite this
recognition on the part of a few marketers, this financially secure, mature group of consumers
remains largely untapped by educational companies and services. Take for instance the onslaught
of new technologies that seem to pop up like daisies in the spring, out of all consumer groups,
our seniors, are usually the last to be courted.
While it may be true that certain technologies are better suited for younger tech savvy consumers
(I am reminded of my elderly grandmother who purchased an unlimited text messaging package
on a small phone without text messaging capability and did I mention she had arthritis), it doesn't
mean that this market is entirely unsuited for those educational businesses and services that use
technology to deliver their product or service.
For a supplemental education service tutoring provider, this mature consumer group is
wide open with far less competition and minimal requirements in the way of overhead expenditures.
Two of the much-needed services that senior citizens in particular lack are computer training
and technology acclimation. Many of the services supplemental education companies can provide,
are the ones that are most often overlooked or taken for granted, i.e. using the internet,
opening up an email account, social networking account registration, etc.
If you are reading this article, you can definitely offer those services and more. Suppose
for a moment you feel uncomfortable with your level of competence in offering a few of these
services, let me repeat what I said in my previous article, Niche Marketing Strategies for Tutoring
Businesses Looking To Attract Parents of Students Taking State Standardized Tests, you do
not have to be an expert in the subject matter in order to provide supplemental services in
the subject matter, you just need to hire people with thorough experience related to the field.
The reason for the lack of competition in this age group is precisely because this mature
audience is a bit more discerning with their spending habits and a more sophisticated approach
is required to gain their attention, loyalty, and dollars. However, it is for this very reason
that supplemental education service providers should dive into this market with fervor and
enthusiasm. Education is, and has always been a cornerstone for any age group. The value that
the 50 and over age group places on education should not go unnoticed.
Along with education, communication plays an important role in everyone's lives and its
role only expands as one gets older. In the past, many grandparents would send letters to their
grandchildren and eagerly await their response. Grandparents yearn to be a part of their
grandchildren's lives. Why not offer the ability to stay in touch while simultaneously helping an
older population learn and acquire new skills? Imagine grandma's joy every time she logs on
to her e-mail account and sees a message from her grandchild or when she receives a tweet.
It's truly a win-win proposition!
Of course that's just the tip of the iceberg when it comes to the type of services supplemental
education providers can offer up in addition to computer training. Curriculum and⁄or activities
marketed to senior citizens can range from learning a new language to scrap booking to ballroom
dancing. If you're looking for ideas on what senior citizens are interested in learning, you
can find a compiled starter list below. Since most of your organized activities and programs
will consist of a variety of group sizes, you will have the ability to market age specific
specials and discounted tuition fees accordingly.