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 markets, 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, increasing revenue, and engaging new customers. But that theory seems to have gone by the wayside. Instead, we choose the easy, and perhaps more sexy, path of attracting consumers when they're young and believe they’ll stay with you throughout their lives. Please tell me if I’m wrong.
Remember, “The Most Interesting Man in the World” campaign from what’s now Havas. This is 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.
As the man said, “Stay Thirsty My Friends.”
~ Lee Brody