News & Events

News Hub

Marketing a self-service coin counting machine to senior citizens

To get a better return on investment with a self-service coin counting machine, implement a marketing strategy that is inclusive to older shoppers.

Senior citizens are a large market

In 2014, people who were 65 years and older accounted for 14.5 percent of the U.S. population, with a total of 46.2 million senior citizens nationwide, the U.S. Department of Health and Human Services reported. Those figures will only get bigger, according to the department's Administration on Aging, which expects the older population to double in size by 2060 and to represent 21.7 percent of Americans as soon as 2040. Businesses across the country are adapting to better serve senior citizens, nearly 40 percent of who shop daily, according to the Pew Research Center.

How to bring senior citizens to coin counting machines

A business owner can make senior citizens aware of services like a self-service coin counting machine through in-store marketing. Signs with large and easy-to-read print will aid those who have weaker vision. Additionally, encourage staff to interact with senior citizens, notifying them of additional services in the process. Not only will a positive interaction with an older shopper improve their overall customer experience, but it will give them a helpful reminder of the machine, especially if they missed the signs for it. One can also make special offers to senior citizens that incentivize them to use the additional services of the business. Owners should be wary, however, because there are older shoppers who unsurprisingly don't like being referred to as senior citizens.

Out of the store, businesses can still make senior citizens aware of their additional services. Despite the popular misconception, seniors are on social media. According to the Pew Research Center, about 4 out of every 10 adults aged 65 to 74 use the internet daily, so using social media and email is a valuable resource for engaging this demographic.

Whatever the method is, taking an initiative to make one's business more friendly to senior citizens is a wise investment as their numbers increase.

August 12, 2016