Nearly half of American retirees fear loneliness and isolation, according to the U.S. Census Bureau.[1] And with good reason! They spend twice as much time being alone than younger adults[2], thanks in large part to conditions outside their control such as declining mobility, hearing loss, memory loss, loss of family and friends, living alone, and more.
While loneliness and social isolation are not necessarily the same, social isolation – the lack of interaction with others – often leads to the distressing feeling of loneliness, that is, being alone and neglected.
Loneliness Takes Its Toll
Loneliness can take a heavy physical and mental toll on older adults, according to the National Institute on Aging, including increased heart disease risk, depression, and cognitive decline[3]. According to an article that appeared in Prospectives on Psychological Science, “loneliness “ has been found to be as harmful as smoking 15 cigarettes a day and can increase risk of premature death as much as 30%.[4]
On the flip side, seniors in poor health are often more likely to be socially isolated and lonely! As a result, those lonely, socially-isolated people tend to get too little exercise, drink too much alcohol, and often do not sleep well – all of which contribute to increased risk of severe health conditions, such as high blood pressure, obesity, anxiety, depression and even dementia.
Get the picture here? It can become a vicious cycle!
Helping Seniors Stay Connected
So, the million-dollar question is this: what opportunities are there for marketers to profit by helping reduce loneliness and social isolation among older adults? Here are four areas you might pursue:
Opportunity to Be a Hero while Making a Profit
Marketers who can position products or services specifically to help older people emerge out of loneliness and social isolation can create strong bonds with those elderly customers or clients. And these will not be “short-term” bonds. The average 65-year-old American will live another eleven years[1] -- and probably a lot longer than that, if healthy!
How much value would you assign to a customer who embraces to your business for the next decade or more?
[1] U.S. Census Bureau; Current Population Survey, 2018 Annual Social & Economic Supplement
[2] Ibid.
[3] National Institute on Aging, “Social Isolation, Loneliness in Older People Pose Health Risks,” 4-23-19
[4] “Loneliness and Social Isolation as Risk Factors for Mortality;” Prospectives on Psychological Science; 2015
[5] CDC/National Center for Health Statistics, 8/31/2022