Interview between Dick Stroud, Managing Director, 20plus30 and Janet Kiddle the founder and MD of Steel Magnolia
1. Can you remind us about your company Steel Magnolia and the services it provides?
Steel Magnolia was launched in May 2003 and is a strategic market research consultancy specialising in understanding the 50-plus market. It was established to service the needs of consumer insight managers, planners and brand marketers to understand the « baby boomer » generation.
The services Steel Magnolia offers include:
– Leading edge qualitative research in the
– Network 50 – a programme of facilitated understanding comprising immersion sessions or tailor-made panels.
– Marketing Consultancy – An opportunity assessment to determine if a company or brand is making the most of its marketing to the over 50s.
2. Since Steel Magnolia’s launch, do you believe companies are becoming more aware of the 50-plus market? Can you give any examples?
Over the last 18 months there has been an increase in awareness that the 50 plus market is important both numerically and in terms of their spending power.
The skin care market is one example where more brands are targeting this age group, including male skin care. Toothpaste and shampoos also have developed variants for the older market in response to their changing needs. M & S has also targeted this age group with their advertising featuring Twiggy as one of their models
Marketing services companies are also developing expertise in this market. For example Saatchi & Saatchi have an expert team in order to attract new business in this area and service existing clients.
3. What are the main questions and issues companies are seeking your assistance to answer?
There are two areas where companies seek my assistance.
Firstly to help them understand the 50-plus audience. They have seen the numbers and heard the arguments that demonstrate its importance but do not know anything about how they should target this age group.
By providing them with an understanding of the market and how it segments they can begin to develop products that are relevant to the older consumer. In other words how can they grow their business by understanding the older consumer’s needs. Secondly, I am helping companies develop new concepts, new products and how to position them in an appealing and relevant way.
4. Have your views about the marketing issues involved with 50-plus changed?
Unfortunately, the biggest barrier companies have to overcome results from the age stereotypes that are in the heads of marketers. Too many people still think of the 50-plus as being old and stuck in their ways with little money to spend. Despite all the numbers that exist to the contrary, showing those with money are open to new and interesting propositions and are significant purchasers of cars, holidays and clothes.
5. What was the most interesting and satisfying project you undertook during the year (you don’t need to name the client)?
The most interesting project I was involved with was developing a new and relevant positioning for Country Casuals. I was commissioned by RPM3, their communications agency, to research four key issues amongst 45-60 year old women – their attitudes to ageing, clothes, fashion and relevant retail brands.
The research utilised a mixed methodological approach of group discussions, friendship paired interviews and follow up interviews in the home. Also, all the participants were placed with cameras and asked to take photos of themselves in clothes they wore to work, at home relaxing and when going out. Alongside this they were asked to keep a diary, recording what they wore, why and how they felt wearing the clothes.
The results were fascinating. Apart from feeling a little like Trinny and Susannah the results showed that this was a confident audience, who knew what they wanted to wear:” fashion interpreted for them”.
They were independently spirited and seeking self expression, nothing like the hackneyed marketing stereotypes. Many of the women felt a sense of alienation because brands were ignoring them despite their spending power and desire to purchase clothes. They believed there was a void in the market place for clothes designed for the older women. As an important group, who had always been at the forefront of change, they couldn’t understand why more brands hadn’t reacted to such an obvious marketing opportunity.
The results of the research were extremely powerful for the team involved with marketing Country Casuals; they felt re-energised and involved with the target audience.
6. What do you think will be the big issues involved with the 50-plus during the next 12 months?
The big issue for me is keeping the fact that the fifty plus market is a key audience for many companies and they should review whether they are taking it seriously enough rather than relying on their stereotypical view of the market. The fact that the issue has been around for a while and it is not new anymore means that for many it will just fall off the radar as more interesting trends come along. The media need to have success stories of brands targeting this audience as was so successfully done by M&S.
Janet Kiddle can be contacted via her web site www.steelmagnolia.co.uk