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Co-Founder of Openly Gray | Ketchum, Weber Shandwick, Publicis | Voice of Reason

Part Two of Three: How Companies and Brands Improve By Just Opening the Eyes   Without dating myself too much, let’s just say I remember Ronald Reagan’s inauguration.   It was morning in America. A time that promised so much for so many. Yes, it was the Cold War (which seems to be having a comeback tour) but the excitement of a new administration, and the release of the hostages in Iran seemed to signal a new energy across the country. We were back in business.   So why are companies and brands so afraid or turned off to the Gray Market? Why do they choose to direct all their marketing investment, or at least 95%, to the Gen Z and Millennial market, rather than allocate even the smallest portion to those with 70% of the income and 80% of the wealth in this country?   Marketers are taught to find the white space opportunity. To go where they have the best chance of successfully moving products and increasing revenue. But that theory seems to have gone by the wayside. Instead, we choose the easy and perhaps more sexy path of attracting consumers when their young and believe they’ll stay with you throughout their lives. Please tell me if I’m wrong.   Remember, Dos Equis’s “The Most Interesting Man in the World” campaign from what’s now Havas. A great example of how to reach across generations. Actor Jonathan Goldsmith played the role of the mountain-climbing, sports-car driving, smooth Bond-style lady magnet. And he did it in his 70s.   I’m not saying spend all your money to reach older consumers. But 50 and 60 today aren’t what they were in our parents’ time. The Gray Market is vital, active, and extremely brand loyal. They don’t view hitting a certain age as the beginning of the end. It’s the beginning of the beginning. A new life, free of tuition payments, perhaps mortgage payments, and many of the money concerns of their younger selves. And it’s the fastest-growing age cohort in the United States. It deserves attention.   As the man said, “Stay Thirsty My Friends.” * #graymarket #marketing #opportunity #secondlife 📷 Credit: EuroRSCG

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