Want To Sell LTC To Younger Buyers? Take A Tip From McDonald's
Want to succeed at marketing long term care insurance to younger prospects?
Take a tip from McDonald's, one of Americas largest advertisers. This consumer-savvy marketer runs markedly different TV ads during Saturday morning cartoon shows than during adult-oriented evening programming.
McDonalds understands the need to target distinctly different prospects with distinctly special messages and purchasing motivators.
Likewise, LTC insurance marketers who seek to cast a net over younger buyers–specifically the millions of aging baby boomers–will not create a buying frenzy without recognizing that this market is conspicuously different from LTC buyers who have traditionally bought LTC.
In fact, baby boomers consist of many diverse population segments. Therefore, marketers should avoid a one-size-fits-all pattern. Even so, there appear to be some commonalities that can help target this cohort effectively.
In particular, consider the following messages and motivators that couple familiar life-stage events with distinct consequences (both positive and negative). They should help you achieve success in establishing the LTC need with younger prospects.
Life-altering changes. Traditional LTC presentations typically focus on the likelihood that your client will need care (in the home or a facility). However, because younger individuals will likely not require care for many years, you need to take a different approach.
Specifically, focus on life-altering changes that begin to occur between the ages of 40 and 65, such as stroke and coronary heart disease. Also, capitalize on the newfound prominence of less common diseases; one example, multiple sclerosis, plays a vital role in the story line for The West Wing, one of todays most popular television programs.
Data is readily available to support your assertion. For example, according to the American Heart Association, some 500,000 Americans will suffer their first stroke this year. Over a fourth (28%) will be under age 65. About 650,000 individuals will have a first heart attack and some 22% of men and 49% of women will be disabled with heart failure.
You must health qualify, reinforcing client awareness that life-altering changes, such as an accident, illness or disability, will not, on their own, prompt action. You must also link the concept with a heretofore-unknown fact–the fact that one must health qualify for LTC insurance protection.
By linking the two, you transform a critical phase in the prospects decision-making process from do I really need this? to can I even get this?
