I had the pleasure of enjoying Brian McKnight in concert last night! After waking up this morning with all of his wonderful music replaying in my head, it hit me -Brian McKnight + AARP = biz strategy genius!
What does an R&B superstar and AARP have in common you ask? Potential. Specifically, an eventual and large customer base. The concert was sponsored by AARP. During "the Brian McKnight experience" he mentioned and joked -I'm not even AARP age yet! I said to myself neither am I Brian! However, I've loved his music for over 25 years. Hearing the soulful sounds and watching him play guitar and piano (keyboard) was just as impressive last night as it was when I would spend hours listening to his ballads on CD "back in the day." All of those memories fondly reminded me of my youth!
Since we are of the same generation (Brian and I), AARP knows that eventually we will need them in the next few years. They know that we Generation X'ers are the next group coming their way with extreme buying power. They successfully bridged the gap between soliciting a new market and establishing relevancy in the minds of this new demographic. They know that we know people are living longer, healthier, and are looking for more ways to enjoy life as we age. They know that eventually this demographic of 40-somethings is going to be eligible for their services really soon. They know that it can't look like our parents' AARP in order to be attractive to us, stay relevant to us and capture our attention before we even get there. They know that their job is to get us to start thinking about the potential benefits and services provided by AARP before the age threshold is threshold is reached. They are banking on us being the next set of valued customers, hitting the proverbial 55-year-old ground running, literally.
Business strategy genius. AARP must have asked themselves, how can we continue being relevant to our current customer base while reaching a new market? Show them what's coming in a language they understand. Show them how an established brand will soon be relevant to them. Show them what a Brian McKnight + AARP life looks like.
How can you as a business owner tap into a new customer base? What's your strategy for staying relevant with current customers, attracting a new demographic and evolving with both groups? Strategically growing your business means thinking ahead, staying relevant and being true to your brand. A worthy formula worth solving.