Sell Umbrellas When It's Raining

There39s a lot to admire about our streetsavvy sidewalk salesman He has a brilliant product and has built an operating model that39s flexible enough to respond to a simple change in meteorological pressure Give the guy credit By today39s standards he was the original popup store and pioneered programmatic by connecting with a specific customer in a specific context in real timeWhile his agility is remarkable he39s also a genius at understanding value When the skies open up and his customers are caught unprepared a cheap umbrella is not only valuable it becomes invaluable It doesn39t matter if he39s selling a poorly made product that39s essentially disposable Because he39s able to efficiently supply product only when demand is high the value of his offering escalates off the charts He makes high margins and his customers are elatedSo why are we talking about umbrellas Because there39s a remarkable parallel between our scrappy street vendor and marketing to age Here39s what large multinational brands can learn from a humble umbrella salesmanPrepare for Demand EventsRain is a predictable event that prompts a high demand for umbrellas Similarly the aging of the world39s population is a very real and known dynamic that has been and will continue to reshape global economies and marketplaces In a world that has close to 15 billion people who are 50 and older aging is a mega demand eventWhile aging is predictable its consequences are not Each day people age in new ways and marketers are in a strong position to serve them with innovation that addresses their needs and enhances their lives Rain may come and go but aging is here to stay To capitalize on it you need to prepare for it which fundamentally begins with embracing itToo many marketers look the other way on the aging opportunity because they don39t want to associate their brand with imagery that might not be aspirational to the upandcoming millennials Like everything else there39s a right way and a wrong way to market to age Be confident that you can figure it out because it39s too big of a demand event to ignoreServe Aging with AgilityAgility is used so often these days that it39s become a bit of a clichamp233 But if you39re the umbrella guy it39s your raison d39amp234tre he succeeds because his inventory is portable and he can do business the moment the rain beginsThe trend of aging is obvious the dynamics of how people are aging amp8212 and reacting to it amp8212 are not Take Aging in Place for example which is a massive movement within the trend of aging Rapid advances in technology and the proliferation of homedirected services are making it easier for people to age in the comfort of their own home so this space is changing at a blistering rateIf you39re not agile enough to predict change or react to it it39s easy to quickly fall far behind And remember since boomers are aging for the first time they don39t really know what they want until they need it You39ll need to turn on a dime to win by offering products and services precisely at the point of their emerging needsCreate Value Through UnderstandingA shrewd sidewalk salesman knows where to be to target the people who need umbrellas the most and will pay the most In a city of labyrinthian underground passageways he39s done his homework to figure out where people will be exposed and more likely to get wetNo matter how big and successful your business is you have to be sure that you understand what39s going on at the street level Getting this right is challenging for brands marketing to people of age because many are in denial and aren39t expressing their true needs If and when you do figure them out you39ll need to be able to communicate with them authentically and do so in a quotlocationquot where they39re most likely to be receptive to your message This a fundamental of success and it cannot be emphasized enoughAsk yourself a simple question What39s the equivalent of rain for your brand and business and how can you be seen as invaluable when that moment comesIf you39ve been a marketer long enough you know how easy it is to overcomplicate things and the proliferation of technology and modern marketing tactics isn39t helping matters At times like this it39s inspiring to revisit simple successful scenarios such as the umbrella salesmanIf you39ve never marketed to age you39re sure to have gaps in your mastery and they39ll be unsettling When this happens take a step back and revisit the fundamentals that are so clearly obvious in our simple sidewalk business Build a strong brand foundation based on solid consumer understanding and be sure you have a culture of innovation that39s agile and responsive When you do this well you39ll be able to weather any storm while still looking your bestPhoto courtesy of BoomAgersClick the social buttons to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Sell Umbrellas When It's Raining

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Peter Hubbell

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Sell Umbrellas When It's Raining

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