Addressing the longevity economy: Because, the Company that uses AI to solve older adult's needs

Many modern businesses are built around catering to young audiences, college backpackers, millennials, and GenZers who supposedly have all the energy and enthusiasm that businesses require of their customer base. However, that leaves a huge swath of the population unattended to. 

Leading technology companies like Uber or Airbnb have leveraged AI and data to serve their audiences. The immense utility is verifiable among younger audiences, but the effect is less noticeable among older adults. This leaves a considerable gap to fill in an aging society as seniors are playing an increasingly fundamental role in society and are seizing significant control of US spending.  

According to a 2022 America Health Rankings with CDC data, about 17.3 percent of the American population was 65 years or older or over, an increase from the last few years and a figure that is expected to reach 22 percent by 2050. This is a significant increase from 1950 when only eight percent of the population was 65 or over. The numbers translate to about 58 million people, often forgotten when big brands fashion their marketing plans.  

While companies worldwide continue to design and build products that cater to the slightest needs of the youth, Because has seized the tremendous opportunity to cater to the older generation, building a brand platform whose initial success has taken many by surprise.  

Because is a profitable young company that, over the last six years, has focused on leveraging data on interactions with combining their deep understanding of older adults with data insights to fill the gaps in products designed for the aging population to solve their needs and design better products for them.  

Explaining the innovative model, Alexi Suvacioglu, CEO and co-founder of Because, states; 

"Our mission at Because is to make sure that older adults' needs are being met. We saw a considerable gap when it came to the tools being used to innovate for older customers. AI is being used to help younger customers get everything. But the most basic needs of older adults were being overlooked because companies weren’t using the latest tools available to innovate for them. We are changing that by harnessing our deep understanding of older adults' most personal needs and AI to develop products that outperform existing brands in the market today.” 

"Our model is relational and not transactional," explains Luca Gualco, co-founder of Because. "The reason our data is very actionable is because it is gathered out of real trusted interactions. Our ultimate goal is to make sure seniors can navigate a fast-changing world and get their needs met precisely without having to wade through the maze of modern technology. We believe that this is crucial to fostering longevity among seniors,"  

The "longevity economy" is a significant industry that many businesses overlook. Because's success has demonstrated the potential within this sector. For example, companies like Amazon and Temu lead in using AI to suggest ancillary purchases or services. However, these AI tools primarily rely on browsing history, which often yields inaccurate and non-actionable insights for seniors. 

Alexi elaborates,  

“If you ever helped your grandma buy something on any website, you would understand that the way most websites are built today is not always intuitive for older adults.” He explains, “Basing product recommendations on browsing behavior is only one small part of the equation. The overall shopping experience also needs to be tailored to the needs of seniors. On the vast majority of sites today, the images might be too small, the font too illegible, and the descriptions might just be suitable for someone who only has five seconds to make up their mind on a purchase. One example we found is that older adults, paradoxically, want to fully understand a product before they purchase and may have more time to read detailed instructions, even if it means taking the time to painstakingly re-read product information, just to make sure. Much of the research that feeds modern marketing practices is not based on or suited to seniors, and this is why as a company, we insist on bringing them actively into the economy.”  

BecauseMarket makes it easy for older adults to find the exact products they need; this is because the company creates an avenue for seniors to elaborate on their needs through conversation.  

Describing the power of the Because conversation Model, Luca states, "In the past, companies valued their ability to interact directly with customers. In every store, you could seek advice from clerks or salespeople, who were trained to engage with patrons. This is the environment that many seniors remember, one that existed long before the internet shifted interactions online, leaving older generations struggling to adapt to a world that now communicates primarily through digital means. At Because, we revive that personal touch by bringing back meaningful conversations, listening intently to our customers to ensure we understand their needs and fulfil them effectively." 

The Because model functions as a customer service platform, revitalizing the use of phone calls to reintegrate seniors' voices (and their emotions) into conversations. These interactions are recorded and processed with algorithms that extract actionable data. This information is invaluable to brands within the longevity economy or any brands serving seniors, helping them tease out the nuanced needs of older adults and tailor their marketing strategies and enhance customer experience and satisfaction. With over 7000 calls analyzed by AI each week, Because has a unique ability to gather more actionable information at an unprecedented rate. 

Because is the difference between just another transaction and a real relationship, each customer has a voice profile, and their proprietary AI knows them just as well as the old clerk at the corner store used to. This enables Because to design products that are better suited to the senior population and more sustainable, considering their lifestyles and preferences.  

"Because is becoming an all-encompassing consumer brand where seniors find products that address their needs and that really work — from bladder protection to wellness and lifestyle products," Alexi explains. "The speed and accuracy with which our technology can accurately assess customers’ needs and collect data greatly benefits our product development. Our loyal subscriber base also provides a ready market to test products, gather feedback, and make necessary adjustments. This efficiency allows us to iterate and launch.” 

Because is increasingly gaining increasing popularity among seniors, thanks to its strengthening brand presence and its ability to innovate with and for this demographic; the company has proven to be just what the doctor ordered for an aging population like that of the US. The survival of the longevity industry is heavily impacted by innovative companies like Because amongst others.