Senior Economy is a game-changer in the B2B and Brand Experience & Activation landscape. It leverages creativity and innovation to combat ageism and connect businesses with the immense potential of senior adults' experience. This cutting-edge initiative offers an immersive brand storytelling experience that employs experiential marketing and a multi-channel approach to reinforce relationships between businesses and seniors.

By redefining seniors as valuable resources and fostering mutually beneficial relationships, Senior Economy drives growth for businesses and Banco del Pacífico while enhancing brand reputation and contributing to social progress.

Ecuador's 1.3 million senior adults are affected by ageism, which creates negative stereotypes about their productivity and makes it difficult for them to find employment. This issue has a significant impact on the economy, financial well-being, and the demand for banking services, increasing credit risk. As a leading financial institution, Banco del Pacífico is committed to promoting economic growth and social progress by addressing this social issue of ageism and unemployment among seniors.

Senior Economy aims to reintegrate senior adults into the workforce by highlighting their value and creating a new business model that leverages their experience. By showcasing the potential of seniors and strengthening the values of Banco del Pacífico, the initiative aims to foster a more inclusive and diverse employment landscape for businesses, generating commercial growth and contributing to the betterment of communities.

Senior Economy aimed to create a new business model that would capitalize on the experience of seniors, showcasing their value as a resource to businesses. By placing a price on their expertise, the initiative enabled seniors to demonstrate their skills and enabled businesses to tap into their knowledge.

Through a multi-channel approach that combined immersive storytelling and experiential marketing, Senior Economy challenged ageist stereotypes and fostered new connections between businesses, experienced workers, and the bank. This cross-functional approach created a mutually beneficial relationship between businesses and senior adults while promoting Banco del Pacífico's values of inclusivity and diversity.

To create Senior Economy, we implemented a data-driven strategy that utilized seniors' resumes to calculate the economic value of their experience. By analyzing each section of the resumes submitted on the bank's website, we quantified the worth of seniors' skills and expertise.

Our target audience was twofold: senior adults looking for employment opportunities and businesses seeking experienced workers. To reach both groups, we employed a multi-channel storytelling approach across various Banco del Pacífico platforms, including online platforms, on-site banks, social media, mailings, and virtual assistants. This comprehensive approach effectively communicated the value of seniors and facilitated connections between them and businesses in need of their services.

The Senior Economy initiative was born out of a recognition of the underutilized potential of senior adults in the workforce. After developing a formula to quantify the economic value of seniors' experience, we collected seniors' work histories (resumes) through the bank's website. This data was then used to calculate the value of their experience and present it to businesses in need of their skills.

The initiative was launched in November of 2022, after being thoroughly tested and developed since its conception in October of the same year. The campaign was promoted across all of Banco del Pacífico's channels, including online platforms, social media, and on-site banks, to raise awareness of the Senior Economy initiative and its benefits for businesses seeking experienced workers.

While the initiative is still ongoing, it has already made significant progress in promoting a more inclusive and diverse employment landscape for senior adults in Ecuador.

• Companies hiring senior adults through the platform saw an average revenue increase of 15% and 12% growth.

• Customer satisfaction ratings - Senior adults: 88%, Businesses: 90%.

• Over 19,593 senior adults joined, creating 10,862 successful matches.

• 29% of seniors secured stable clients, and 26% worked with multiple clients.

• The initiative led to a 35% increase in brand awareness and a 27% boost in positive perception for Banco del Pacífico.

• The Minister of Economy estimates that the Senior Economy program could contribute to a 0.40% increase in Ecuador's economic growth over 10 years.

The results demonstrate the initiative's ability to create commercial opportunities while addressing social issues, fostering economic growth and social impact, and enhancing the bank's reputation as a socially responsible institution.

Negative stereotypes about the productivity of Ecuador's 1.3 million senior adults have led to widespread ageism and high rates of unemployment. Recognizing the untapped potential of this demographic, Banco del Pacífico developed the Senior Economy initiative, a pioneering economic model that monetizes seniors' experience and expertise, providing economic benefits to businesses in need of skilled workers while challenging ageist attitudes. With its innovative approach to tackling social issues and driving economic growth, Senior Economy garnered positive media attention and public support across Ecuador.