Hearing ad marketing is likely to change significantly if President Biden’s Executive Order on Promoting Competition in the American Economy, dated July 9, 2021, gains traction.
As part of a broader package to promote competition in the American economy, the executive order asserts that hearing aids are too expensive for most consumers to purchase. With an average price of $5,000 per pair, the White House states that only 14 percent of the estimated 48 million Americans with hearing loss can afford hearing devices. A major reason for the high cost, according to the administration, is that hearing aid sales are controlled by doctors and other specialists. According to the executive order, unspecified experts agree that a medical hearing evaluation should not be a required part of the purchase process.
The executive order directs the U.S. Department of Health & Human Services to “consider issuing proposed rules” within 120 days that would allow hearing aids to be sold over the counter. According to this timeline, proposed rules could be released by November 2021.
Digital and Social Media Strategies for Hearing Aid Marketing
Hearing aid marketers can take steps now to be prepared for possible over-the-counter sales. Direct to consumer marketing in this digital age means targeting online customer acquisition methods to an even greater extent.
Hearing aid marketing demographics rely primarily on age. The strongest predictor of hearing loss among adults is based on age, according to the National Institutes of Health, with the greatest amount of hearing loss in the 60 to 69 age group. Men have double the risk of hearing loss as women.
Reaching these baby boomers and older Americans online means expanding followers for your hearing aid brand on Facebook and YouTube. The vast majority of adults over age 50 use Facebook, according to a 2021 Social Media Fact Sheet published by the Pew Research Center. Specifically, 73 percent of adults aged 50-64 use Facebook while 50 percent of baby boomers and older Americans age 65 and over use Facebook. For YouTube, the usage numbers are 83 percent for adults aged 50-64 and 49 percent for adults age 65 and over.
Sixty Five Plus Marketing, Inc. is a baby boomer marketing agency that can help you build your online presence through social media marketing on Facebook, YouTube, with newsletters, and website lead generation programs.
FDA Background on Hearing Aid Marketing
The FDA Reauthorization Act of 2017 (FDARA) included a bi-partisan effort to make hearing aids more accessible and affordable. The legislative initiative was based on research conducted by the National Institute on Deafness and Other Communication Disorders, which determined that a category of direct-to-consumer hearing aids would be beneficial for adults with mild or moderate hearing loss. The FDA estimates that only 25 percent of the 28.8 million U.S. adults with hearing loss benefit from the use of hearing aids.
The FDA was required to publish proposed regulations for public comment prior to releasing final regulations, but the publication schedule has been delayed due to COVID-19 and other reasons. As a result, the FDA’s OTC hearing aid category does not exist until regulations are finalized. Hearing aids continue to be restricted devices that must be sold in compliance with federal and state requirements.
Some consumers use personal sound amplification products (PSAPs), which can be purchased over the counter (OTC) but are not regulated by the FDA. Federal regulations prohibit a PSAP as being marketed for help with hearing loss.
Start Your Digital Hearing Aid Marketing Campaign Today
Sixty Five Plus Marketing, Inc. is ready to launch your hearing aid marketing campaign targeting baby boomers in as little as 1 to 2 weeks. Contact president Margaret Grisdela by phone at 561-330-7280 or via email for a free marketing consultation to get started.
Three Reasons to Hire Sixty Five Plus Marketing, Inc.
- Get More Clients. Drive more business to your website and intake lines when you accelerate your visibility through newsletters and other marketing communications.
- Increase Revenue. Get more business from your current clients, more word-of-mouth referrals, and more industry referrals with targeted marketing campaigns.
- Save Money. No need to hire your own in-house marketing team when we create and implement structured marketing programs to grow your business.
You will save time and money because Sixty Five Plus Marketing, Inc. gives you immediate access to experienced marketing professionals who get right to work as your outsourced marketing department.
Imagine what you can do with more time and money to focus on your day-to-day business operations and long-term growth strategy! Contact Margaret Grisdela via email or at 561-330-7280 for more information.