Current Gaps in the Customer Journey
- High cost
- Doctor consultation required
- Inefficient clinical visits
- Lengthy, complex purchase process
- Messaging is agist
- Inability to “try-at-home”
- Low customer satisfaction
7 in 10
remain in need
in unserved market
- Highly affordable options
- Self manager health care
- Efficient, web-enabled solutions
- Robust product selection and availability
- Existential human support
- Speed to solution
- Ease to enter the category
Hearing At Home is addressing the changing market in the hearing aid industry by recognizing and responding to the shifting trends and demographics of consumers. Over the years, the perception of hearing aids has changed from being a symbol of aging and weakness to a practical solution for hearing impairment. This shift in attitude has led to a reduction in the stigma associated with using hearing aids.
A “louder world” post-1950
A “louder world” post-1950 has been a major contributor to hearing loss in people of all ages. The increased exposure to loud music, traffic noise, and other environmental factors has led to an increase in the number of people who require hearing assistance. As a result, there is a larger proportion of younger people who need hearing aids than in the past.
Changing of regulations (FDA)
The changing regulations from the FDA have also played a role in the hearing aid industry. The introduction of Over-The-Counter (OTC) hearing aids has opened up a new market for those who cannot afford traditional hearing aids. OTC hearing aids are affordable and can be purchased without a prescription. This has made it easier for people to access hearing aids and has led to an increase in the number of people using them.
3x as many people age 65+ expected in 2030 than in 1980
In addition, the aging population is expected to increase significantly in the coming years. According to statistics, there will be 3x as many people aged 65+ in 2030 than in 1980. This means that the demand for hearing aids will continue to rise as the population ages.
Changing the way Hearing Aids a bought
Hearing At Home is addressing these changes by offering affordable and high-quality hearing aids that are accessible to everyone. They have a wide range of products that cater to different needs and budgets. Their hearing aids are designed to be discreet and comfortable to wear, which addresses the stigma associated with using hearing aids.
50% of consumer spending is by age 50+ consumers
Furthermore, Hearing At Home recognizes that the majority of consumer spending is by age 50+ consumers, and that 75% of age 50+ consumers purchase products online. This means that their marketing strategy is focused on reaching out to this demographic through online channels. By doing so, they can effectively reach their target audience and increase their sales.
People age 50+ are 46% of the population but garner only 10% of marketing spend
It is also worth noting that people age 50+ are 46% of the population but garner only 10% of marketing spend. Hearing At Home recognizes the importance of targeting this demographic, which is why they invest in marketing campaigns that specifically target people age 50+.
Hearing At Home is addressing the changing market by recognizing and responding to the shifting trends and demographics of consumers. Their products are affordable, high-quality, and designed to be discreet and comfortable to wear. They recognize the importance of targeting the age 50+ demographic and invest in marketing campaigns that specifically target this group. With the aging population expected to increase significantly in the coming years, Hearing At Home is well-positioned to meet the growing demand for hearing aids.