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Today's "mature market" is not your father's "mature market." It is, on average, healthier, wealthier, and more active than any similar cohort in history. More than 80 million strong, with another 40 million to be added to its ranks by 2020, Americans who are 50 or older comprise a critically important market for a number of categories-some of which may surprise you:

• Financial services

• Travel
• Health care products and services
• Toys and games (the grandparent market)
• Second homes and home furnishings
• Automobiles and other vehicles (e.g., motorcycles)

The first thing to keep in mind is that the 50-plus population has three distinct segments, each of which came of age at different times in our history, and whose attitudes and behaviors are informed by those crucibles.

• Baby Boomers: came of age during the 1960s and 1970s in an expansive economy and a relatively liberal political environment

• The Silent Generation: came of age in the 1940s and 1950s, when World War II, the Korean Conflict, and the Cold War dominated people's thinking
• The GI Generation: came of age in the 1920s and 1930s, when many were the children of immigrants and economic times were more restrictive

While each group has fared well financially, especially compared to their parents, none has done quite as well as the Baby Boomers and the Silent Generation; that is, people roughly 50 to 70. Moreover, the younger segments in this market are poised to inherit anywhere from $180 billion to $11 trillion (depending on the source of the estimate and the impact of the current market on bequeathed assets). With all this wealth and disposable income, why have so many advertisers been so uninterested in this population? In spite of some notable exceptions (the recent Sony campaign featuring the tag line: "When your kids ask where the money went, show them the [video] tape") if you look at most advertising images, you would think that anyone with gray hair is sick and/or incompetent.

Another reason for advertisers shying away from consumers over 50 is the conventional wisdom that they are extraordinarily brand loyal and less likely than younger people to try new products, much less new brands. Keep in mind that Boomers are the original cynics, always questioning authority and convention. Many are technologically astute and interested in how technology can enhance their lives. A 2000 Roper study found that only 35% of people aged 50 and over "did not experiment with brands once they found one they liked," a seven percentage point drop from a similar study in 1997.

Marketers and advertisers should note that today, people in their 50s and 60s tend to act and think like they did 15 to 20 years ago. As a 2002 U.S. News & World Report article says that Baby Boomers will soon "rewrite what it means to be a senior citizen." Along similar lines, a study conducted late last year by The Second Half, a consulting firm that focuses on marketing to this age group, boomers-and many of the Silent Generation-are also rewriting what it means to be retired.

Therefore, the wise marketer will discard traditional images of middle-aged and older Americans and focus on a different communications strategy. Here are some tips for direct marketers.

• Keep the tone of your copy energetic, even edgy. Remember that Baby Boomers invented the kind of in-your-face, self-actualizing attitude that has been co-opted by marketers targeting Generation Xers and teens. Reminding them of how they felt 30 or 40 years ago is a lot better than reminding them they are in the second half of their lives.

• Keep images active. Scenes showing healthy adults having fun, participating in sports, or going on adventurous vacations reinforces the feeling that life still has plenty to offer. Don't worry about showing gray hair, as long as the person is confident and looking forward, not backwards.
• Nostalgia can be useful, not so much to remind people of their carefree youths, but to help them identify that part of themselves that is still youthful.
• Use value-based appeals and those that point to psychic benefits. Remember, this population does not believe their lives are winding down-just the opposite. They are moving into a new phase of life, often unencumbered by children and ready to experience new things: new jobs or hobbies, new travel, new "toys" (i.e., consumer electronics, cars or motorcycles), new grandchildren.
• Focus on convenience rather than security. Selling "security" benefits is appropriate for some things, but "convenience" is more compelling to this group.

The bottom line is: don't count out the 50-plus market. They have much more disposable income than Generation X or the Teen Market, and are quite willing to spend it to enhance and enjoy their lives. Anything that will facilitate their enjoyment of new experiences will find a receptive audience.

Ann D. Middleman is Principal of ADM Marketing & Research Consulting, an independent practice whose mission is to help companies become knowledge driven, rather than assumption-driven, with respect to their marketing decisions. You can learn more about the company at http://www.admmarketing.com