340. Marketing Dental Care to an Aging Demographic
Jun 14, 2024
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Dr. Addison Killeen discusses the implications of the aging population on dental care, highlighting the increasing consumer spending of seniors. He emphasizes the importance of targeting this demographic for services like implants and crowns to meet their evolving needs.
World leaders and CEOs are aging, impacting consumer spending habits.
Dentists should focus on targeting older demographics for specialized dental services.
Deep dives
Changing Demographics of World Leaders, US Congress, and CEOs
The podcast discusses the increasing age demographics of world leaders, US Congress members, and incoming CEOs. It highlights that the current national leader's median age is 62, with a significant portion of leaders in their 60s and 70s. The US Congress has an overall median age of 59, with senators being notably older at 65. Additionally, the average age of S &P 1500 CEOs has reached 56.2 years, indicating a rising trend of older CEOs.
Shift in Consumer Spending towards Older Demographics
The podcast reveals a shift in consumer spending towards older demographics, particularly Americans aged 65 and above. It notes that seniors aged 70 and older now hold 26% of household wealth, the highest on record. Consumer spending by individuals aged 65 and above has surpassed other age groups, emphasizing their significance in the marketplace. The podcast suggests the importance of targeting this age group for services like implants or dental reconstructions.
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Analyzing Aging Demographics and Marketing Strategy
In this episode of The Daily Dental Podcast, Dr. Addison Killeen delves into an insightful article about the aging population. Discover how world leaders, executives, and our very own demographic are getting older and spending more on health. Dr. Killeen explores what this trend means for dentists and how it can shape the future of dental care. Tune in for valuable insights on adapting your practice to meet the needs of an aging clientele.