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Social Media Grabs Headlines; TV and Print Grab Wallets

Friday, April 1st, 2011
Food for thought: while social media marketing may appear to be the darling of the day, “old fashioned” TV and print continue to grab prospects by the wallet.  The effectiveness of television advertising is consistent across all ages – high numbers of Millennials, Baby Boomers and 65+ seniors report that it has an impact on their buying decision.  And the impact of magazine ads increases with age.
 
 According to the latest edition of Deloitte Research’s “State of the Media Democracy” survey, 71% of Americans still rate watching TV on any device among their favorite media activities. In addition, 83% of Americans stated that TV advertising still has the most impact on their buying decisions.
 
This isn’t a surprise to Creating Results – this blog has repeatedly noted that television is still a safe bet with great reach when you are marketing to Baby Boomers and seniors.  But it’s timely news this week given Century 21′s decision to return to TV. 
 
Chief Marketing Officer Beverly Thorne told AdAgethat “ it was time to return to TV to raise awareness about agents with young-adult home buyers.”  The median age of US primetime TV watchers is 51 (Boomers) and 65+ers (seniors) watch more television than any other age.  So Thorne’s ploy to get in front of young adults will put Century 21 in front of the adults who actually do buy new homes: 40+ matures.
 
The ability of ads on web sites to move traffic to other sites has dropped from 72% to 59% over the past three surveys.  Online advertising trails magazines for effectiveness, especially when it comes to older targets.  More than 2/3 of matures (defined by Deloitte as 63-75) and half of Baby Boomers (which Deloitte defines as 44-62) say magazine ads are highly motivating to them.
 
According to the survey, since 2007 a consistent 70% of Americans state that they enjoy reading printed magazines even though they know that they could find most of the same information online.  James McDonnell, principal, Deloitte Consulting LLP, says “… enthusiasm for printed magazines is consistent across all age groups, a unique result in consumer attitudes across all the media categories, we surveyed… 
 
It may be April 1st but we’re not fools.  As Creating Results has noted before, the top monthly magazines rely on older readers and news magazine readers, in particular are older, wealthier and more educated than the average.  We feel we can safely predict that print won’t be dead for quite some time.
 
MediaPost shared the following chart with statistics at a glance – the advertising vehicles that have the most impact on the buying decision, by age:
 
Advertising With Most Impact On Buying Decision (% of Respondents)
  All Trailing Millennials Leading Millennials Xers Boomers Matures
TV 83% 80 82  86 82 80
Magazines 50 44 45  45  53 67
Online 47 55 69 46 41 32
Newspapers 44 20 17 37 59 79
Radio 32 26 22 37 34 27
Billboards/outdoor advertising 13 11 12 14 13  8
In-theater advertising 11 27 19 10 6  3
Source: Deloitte Research, March 2011 (Trailing Millennials: Age 14-20, Leading Millennials: 21-26, Generation X: 27-43, Baby Boomers: 44-62, Matures: 63-75)
 
 What do you think? Share your thoughts on TV, magazines and marketing to Baby Boomers and seniors below.

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Posted in 40+, 50+, 60+, Advertising, Boomers, Marketing, Mature Consumers, Millennials/Gen Y, Real Estate Marketing, Uncategorized | 1 Comment »

Stop Hunting for Active Adult Homebuyers. Start Gathering.

Wednesday, January 5th, 2011

Many developers of active adult housing still struggle to separate hype from reality when it comes to online marketing and social media.  What really works with 50+ homebuyers?   That’s the topic Creating Results’ President Todd Harff will address next week in Orlando, where he’ll be a featured presenter at the 2011 International Builders Show.  

International Builders Show 2011Todd - along with co-presenters Dee Minich, Group Senior VP of Sales & Marketing for industry leader K. Hovnanian Homes and Jennifer McKee Hannon of the McKee Group – will present “50 Ways to Engage 50+ Consumers Through the Web and Social Media.”  They’ll show attendees how to create their own Internet marketing action plan.  And, they’ll share key findings from Creating Results’ soon-to-be-released national study, “Social, Silver Surfers.”

If you’re headed to Orlando, find your way to West 314B on Friday, January 14th.  For the rest of us, here’s one big “ah-ha” Todd and his co-presenters will be stressing:

Want to pursue active adults? Stop hunting.  Start gathering. 

Gather Leads - Don't Hunt ThemGathering?  Yup. Gathering. 

Let’s be honest.  No longer are builders simply “hunting” 50+ homebuyers with oversized postcards targeted by age, zip and income.  Prospects begin hunting on their own – starting their research online, on their time, long before they think of paying you a visit in the real world.

So an integrated Internet Strategy that matches your prospects’ preferences is a critical resource to help you pursue AND nurture Leads.

Lead nurturing is an ongoing conversation, not a series of hit-and-run campaigns.

The Internet lead and the in-person lead should receive the same level of energy and service from your team. Start and maintain a conversation.  Find out where they want to talk to you (your website? by email? on Facebook?) and respect that choice.

Give generously and frequently of your (online) time and (relevant, useful) content.  Offer friendly incentives and discounts. Don’t think huge dollars, but make people feel special. 

Play match-maker for other resources.  That time-strapped Baby Boomer, trying to figure out how to downsize 30 years of household memories while caring for elderly parents and adult children and still keep her job … she’ll really appreciate your sharing a link to a reliable local plumber,  contractor, Realtor or moving consultant.

By shifting your mindset and pursuing an integrated online plan, you’ll build your brand, attract new leads through lots of lovely keyword-rich content, AND you’ll nurture those leads. 

Happy hunting gathering!

If you’d like to gather more insights into the online preferences and pet peeves of active adult homebuyers, register to receive the findings from Creating Results “Social, Silver Surfers” research at www.CreatingResults.com/social_silver_surfers.

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Posted in 50+, Housing, Internet, Real Estate Marketing, Social Networking, Uncategorized | 2 Comments »

Multigenerational Households On the Rise and Impacting Community Marketing

Thursday, August 26th, 2010

AdAge this week looked at the “accelerating trend of multigenerational households” and what it might mean for marketing to Baby Boomers, their parents and their adult children.  The evolution of multigenerational households already has fundamentally changed the nature of active adult communities (50+ age-qualified).  If this trend continues, it will call into question the viability of age qualified communities as we know them today.

But first, some context and a walk down memory lane.

Rising Numbers of Multigenerational Households

As AdAge notes,

Today 49 million Americans — more than one in six people in the U.S. — live in households with three or more generations, according to the Pew Research Center. The percentage is even higher for age groups 25-to-34 and 65 and older, where one in five, or 20%, live in these extended families.

20-allinthefamilychart-082310

While much of the increase in multigenerational households can be attributed to the recession, there is also an increased appreciation for the value of family. I grew up with my grandmothers living with us for a combined 10 years.  I know how much I benefited from their involvement in my life. From playing games … to hearing the same stories again and again … to having people who had the time and desire to focus all their energies on a child … to learning to be patient and help my elders … Growing up in a multigenerational household was a gift.

A Trend Already Impacting Age-Qualified Communities

Creating Results has marketed 52 active adult and age-qualified communities in 12 states over the course of 10+ years.  At first the communities were marketed to empty nesters and the vast majority of people who lived in the community were in their 50-70s (Baby Boomers and Silent Generation). Gradually, we began to see parents moving in with their adult children. These moves were prior to the economic downturn and were motivated by a desire to be with family. (more…)

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Posted in 50+, 60+, Housing, Marketing, Real Estate Marketing, Uncategorized | 5 Comments »

Parody Web Sites Entertaining AND Effective?

Thursday, May 27th, 2010

More often than not, parody web sites are pure entertainment.  Here’s one with a twist.  AgentHarvest is a company that markets top real estate agents.  To build exposure and get their message across, they created a parody site called Really Rotten Realty, which makes fun of the typical agent.  I thought it was funny and clever and could help with word-of-mouth marketing. 

reallyrottenrealestatebadgeThe copy is terrific.  Homebuyers truly looking for a good agent can relate to the situations described.  From the “Sell A Home” page:

“We believe in the 3-P’s of real estate marketing: Put, Put and Pray. Put a sign in the yard, Put it on MLS and then Pray someone will come along and buy it. We usually find that after enough time passes, and after several price drops the house usually sells itself without too much intervention from us. That’s an easy commission earned. We like easy.”

And you’ve got to love the photos and stories on the testimonials page.  Priceless!  

I can see this site working well to recruit more top agents to AgentHarvest while simultaneously educating consumers in an entertaining way and driving traffic the parent web site. What do you think about parody web sites as part of a marketing program?

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Posted in Internet, Marketing, Real Estate Marketing, Uncategorized | No Comments »

Elderblog Offers Insights into Boomers & Seniors On The Move

Wednesday, April 28th, 2010

I’m a fan of people watching. Airports are prime spots as are downtown shopping areas. I am particularly fond of seeing people meeting and parting, and imagining the next chapter in their stories. Of course I never get to find out what happens next.

The Blogosphere has opened up a new form of people watching for me, albeit a virtual one, and the plus is that I can find out what happens next. A case in point is Ronni Bennett’s terrific “Time Goes By” blog—“what it’s really like to get older.”

Ronni Bennett - Time Goes By - ElderbloggerAt 69 years of age Ronni decided to move about as far as possible within the continental US, from Portland Maine to Portland Oregon. (And while you might think the location decision had something to do with the “Portlandness” of it, that was just poetic coincidence.) On her blog, she has been chronicling her move.  These posts offer insights for those marketing real estate to Baby Boomers and beyond.

Emotions Dominate When Searching for a New Home

A cross-country move is unusual for Baby Boomers and beyond. The 2009 study by MetLife and the National Association of Home Builders found that 67% of those aged 65-74 plan to age in place with only 12% expecting to buy another home.

Yet the overwhelming reason seniors move is to be closer to family and friends. Ronni was born in Oregon and her brother lives there so this is very much a “going home” move. I think Ronni put it perfectly in a February post:

I have often thought that as we grow into our late years – the winter of our lives, if you will – there is an emotional pull, for those of us who have wandered away, to the homes of our youth.

Whether the draw is family or friends or the familiarity of your hometown, most of us tend to agree with Dorothy and Toto that it’s nice to get home. Or, as Ernestine, one of Ronni’s regular readers, posted in her comment:

Bottom line is whatever years we have left on earth – we need to be where our heart leads us.

As we age we’re more likely to listen to our hearts. Seniors base more decisions on emotions vs. logic and that is exactly what Ronni experienced as she blogged the day she took that big step of listing her home for sale.

 So I made the decision on the spot Saturday while the agent was here.

The decision wasn’t without prior thought and consideration. Yet, when it came to taking that first concrete step of moving, emotions ruled.

Three Lessons for Marketing 50+ Housing

What can builders and developers of new active adult communities, owners of CCRCs, Assisted Living Facilities, Realtors, and others involved in housing Baby Boomers and the Silent Generation learn from Ronni Bennett and her readers?694006 (more…)

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Posted in Boomers, Marketing, Mature Consumers, Real Estate Marketing, Uncategorized | 1 Comment »

Are Baby Boomers Really Ready to Move?

Wednesday, April 14th, 2010

The 2010 Del Webb Baby Boomer Survey was just released, and the nation’s largest builder of active adult (55+ age-qualified) communities concludes that Boomers are ready and willing to move upon retirement.

“According to the Del Webb survey, nearly a third of older Baby Boomers plan to move in retirement, with more than 50 percent planning to move to a different state, about 25 percent of them planning to move to a different city within the same state, and less than 20 percent of older Boomers planning to move within the same city.”

So, are we going to see a great movement of Boomers criss-crossing the country in the coming years?  The definite answer is: It depends.720034

What I find fascinating is that the results are different from the MetLife Mature Market Institute (MMI) / National Association of Home Builders 55+ Housing study which was completed just last year. It could be that the samples and questions are different, but Del Webb concludes that the Boomers are more mobile than MMI found.

Creating Results has spent more than 15 years of marketing real estate to older, more affluent homebuyers, including a large number of premier active adult communities. What we have found is that – absent the high cost of living states and escape from urban areas – only a small percentage of people are willing to move more than 100 miles.

Most people don’t want to move at all and would prefer to age in place.  In 2009, this desire helped turn active adult housing from a sweet spot into a question mark.  Boomers and beyond stayed put.

National studies can provide insights into broad trends, but it is generally not helpful (and even potentially dangerous) to apply the findings to individual communities. Motivators  vary significantly.  It is important to conduct specific research to develop target markets profiles for each community.

We also caution people against making assumptions about grandchildren and children.  For many Baby Boomers, this is a critical motivator.  However, for others it’s just not that important.

Child and grandfather in clubhouseWe wonder what percentage of the respondents to the 2010 Del Webb study were single.  In our experience, that is a growing market in which prospects often are not as concerned about proximity to grandchildren. In some of the active adult communities we market, 1/3 of the buyers are single and they complain that a focus on grandchildren makes them feel excluded.  They are concerned that they won’t fit into the commuinity.

One Del Webb finding that we agree with entirely is the importance of access to health care. This seems like a no-brainer, but few builders have the courage to address this top level concern in their marketing materials. They are afraid that it takes away from the lifestyle message.  We believe that proximity to quality health care serivce is part of the lifestyle message.

What do you think of the 2010 Del Webb Study?  Share your thoughts below.

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Posted in 50+, Boomers, Housing, Real Estate Marketing, Retirement, Uncategorized | No Comments »

Boomers are Wounded, Worried and Wary – What That Means for Marketing

Friday, February 12th, 2010

Pop quiz: what topics were hot at this year’s International Builders Show?  A. Green Building, B. Financing (good luck, buddy), C. Social Media, or D. The psychological outlook of Baby Boomers and other active adult homebuyers.  If you answered “all of the above,” you’re today’s winner.*

Baby Boomers are wounded, worried and wary.  Even those who have survived the recent economic challenges financially are psychologically scarred.

In a white paper with 10 take-aways from this year’s Builders Show, I share the philosophy of Tim McCarthy, Managing Partner of Traditions of America, the renowned developer of active adult communities in Pennsylvania.  Traditions sales and marketing team is focused on selling only to Active Adults who have come to terms with the reality of their economic situation.  These are Baby Boomers and seniors who are ready to move forward with their lives.

Understanding the psychological outlook of mature homebuyers influences the marketing techniques Traditions of America uses.  The most effective one focuses on building the confidence of top prospects.  (Get the details in this “top 10 take-aways” white paper.)

As our team noted in the December 17 edition of Selling to Seniors, the key is to get to know who your prospects are now.

“The world could be quite a different place now than it was just a few years ago for someone, and often, shifting circumstances are beyond their control. For example, … You may be marketing to somebody who planned very well and covered all his retirement bases, but then his adult child loses their job. Or a health-care issue pops up and now he has to make adaptations. So your databases may contain the names of people who a year ago seemed like they were right in line with your product or service, but it doesn’t necessarily reflect where they are now.”

There are many ways you can take the pulse of today’s active adult consumers: lost buyer surveys, data mining and social listening are just a few ideas.  Post your ideas below.

 

* Congratulations!  Now, what did you win?  How about the chance to prove how smart you are by sharing your strategies for understanding and motivating wounded, wary Baby Boomers in 2010.  I’ll see you in the comments section.

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Posted in 50+, 60+, Boomers, Housing, Marketing, Real Estate Marketing | 2 Comments »

Social Media and Boomer, Senior Homebuyers: Untangling the Web

Thursday, February 11th, 2010

Social media marketing seemed to be the topic of the hour at the 2010 International Builders Show (and other conferences I’ve attended in the past few months, such as the American Association of Homes and Services for the Aging event).  Builders and developers – of active adult communities, of intergenerational housing, of continuing care retirement communities – are all wondering how these newer online marketing tools can drive sales with Boomer and Senior homebuyers.

In a new white paper with the “Top Ten Take-Aways from IBS 2010,” tip #9 addresses Untangling the Web.  While the seniors housing industry is buzzing about social media, there are a lot of questions about whether to dive in.

Is Social Media Marketing Worth It with Baby Boomers and Seniors?

For those with 50+ age-qualified properties, question #1 often is: Should I even bother? As we’ve talked about frequently on this blog, YES.  Seniors, Boomers, folks over 40 – they’re online, and actively engaged in social media.  Just last week, eMarketer highlighted the growing presence of Boomers on social networks.SocialNetworkingUseByGeneration.eMarketer

It’s not just Baby Boomers, either.  The stats show that 36% of Internet users over 63 are actively maintaining a social networking profile.  (Roughly 13% of the entire US population is over 65.)

The short answer is every builder needs to be engaged in social media at some level.

Case Study: Using Social Media Techniques to Reach CCRC Retiree Prospects

Recently our team had the honor of working with Willow Valley Retirement Communitiesto revamp their website.  Willow Valley is the nation’s third largest retirement community, and – unlike most CCRCs which draw primarily from their local area – it’s a true destination.  Willow Valley attracts retirees from 37 states.

Their prospects are educated, active and typically in their 70s.  However, the Willow Valley and Creating Results teams recognize the gradual shift that will occur over the next decade, as the Silent Generation (born between 1925 and 1942) is joined by Baby Boomers (born 1946-1964).

Our plan for their new website was to make it not only functional and attractive, but to make the website the first stop on a prospect’s journey to retirement.  That means it has to truly engaging.  Social media techniques are built in throughout the site:

* share with a friend features – retirees can email, tweet or post content from any where in the site to their Facebook account
* videos embedded into the site from a branded WillowValley-TV channel on YouTube
* publications piped in from a digital publishing library that encourages sharing
* multiple calls for feedback and interaction (“suggest it to our librarian”)

The site is structured so that, looking ahead, the client can phase in more social engagement opportunities – message boards, blogs and comments/reviews.

Getting Social with Seniors, Strategically

Judging by the turnout at IBS social media sessions, many builders and developers are stuck on question #2 is: Where do I start?

I counsel our clients with active adult or continuing care retirement communities to start with the fundamentals, and that includes a plan.  Any business wanting to incorporate social media into their Boomer marketing should have a strategy, goals, and have a plan that shows how social engagement is integrated into their rest of their marketing program for maximum impact.

(Creating Results also offers clients a bundle of social marketing services, including education, strategy and training … but that’s another story.)

Let’s put the question to you:  In 2010, where will you start in your efforts to untangle the web and reach Boomers/senior homebuyers through social media? How can building community online drive sales for active adult and retirement communities offline?

Please share your thoughts and questions below.

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Posted in 50+, 60+, Boomers, Housing, Internet, Mature Consumers, Real Estate Marketing, Social Networking, Uncategorized | 3 Comments »

Marketing Active Adult, Retirement Communities to Boomers and Beyond Requires an Internet Blueprint

Wednesday, February 10th, 2010

It’s time for tip #9 from my “top 10 take-aways” from the 2010 International Builders Show (IBS): “Untangling the Web.”

Marketing to seniors and Baby Boomers via the Web involves making full use of SEO best practices, social networking tools, interactive features, active adult friendly designs and more.  Sadly, too many builders and developers forget to approach online marketing the way they would a new home: with a blueprint for success.  I love the way eMarketer puts it: “planning and organization are no longer optional.”

At IBS, sessions related to Internet marketing and homebuyers were very popular.  It seemed like everywhere builders and developers looked at this Las Vegas conference, someone was telling them to bet some or all of their marketing dollars on the Web. Without an internet strategy – a “blueprint” –, many communities are wasting time and money.

When speaking at the 50+ New England Housing Council’s annual meeting last month, I said there are three things to keep in mind for marketing active adult and retirement communities online:

* Print is not dead
* The Internet is not free
* Internet success is not overnight success

I invite you to share your thoughts below:  In your experience, are builders and developers spending enough time on internet strategy?  What “three things” will you keep in mind for your efforts in 2010?

P.S.  The “10 take-aways” white paper I mentioned above offers additional insights and some statistics from the new NAHB Marketing to Active Adults course that can help you benchmark your Internet success.  Complimentary download here.

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Posted in 50+, 60+, Housing, Internet, Real Estate Marketing, Uncategorized | 1 Comment »

What is the Future of Active Adult Housing?

Tuesday, February 9th, 2010

Was 2009 the end of 55+, age-qualified, active adult housing?  It certainly was a painful year for builders, developers, and experts like myself, who had expected this market would out-perform the overall housing market during a downturn.  Instead, as I note in my Top Ten Take-Aways from IBS, mature homebuyers – primarily discretionary purchasers – exercised their discretion and stayed put.

Active Adult communities have been age-qualified; you must be 55 years old or better to live in one.  For years, this type of housing has been a sweet spot.

However, the Baby Boomers were hit hardest of all by the crash of the financial, real estate and employment markets.  Now, gone are a willingness to pay for golf course views or useless and expensive upgrades.  Is the willingness to live in an age-qualified community gone, too?

Redefining Reetirement Communities

Even before our current economic challenges, Baby Boomers were already redefining retirement, and therefore redefining retirement communities.  Tennis courts were being replaced by business centers.  Bonus rooms were used as home offices.  Research we conducted for Central Parke 55+ Resort Communities led to the establishment of an Osher Lifelong Learning Institute (OLLI) campus at their Victoria Falls community.

As I wrote for the 50+ Housing Magazine in 2007,

Working for a life.quote

What’s next?  At this year’s International Builders Show (IBS), industry experts told me the future was in:

  • Urban infill
  • Co-housing
  • Aging-in-place
  • University-affiliated senior housing
  • Intergenerational communities

Everyone seemed to have a different opinion of where the industry would go. I think that they are all right, and I’m not even a politician. I say The Active Adult Market is Dead – Long Live the Active AdultS MarketS.

The Baby Boom is a generation of roughly 78 million.  The US 50+ population is becoming increasingly diverse.  One size of housing will not fit all; indeed, it never has.

For builders and developers, the challenge is to define which 50+ subgroup you’re targeting, and to take steps to truly understand them.  Hire a good market research agency.  Comb through your database.  That prospect on your list is in a different place, economically and psychologically, than they were in 2008 or 2009.  Conduct new surveys and listening sessions to understand what they now need and desire.

What do you think?  What is the future of active adult housing?  What can builders, developers and mature marketers do to thrive in a world with many different active adults marketS?

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Posted in 50+, Housing, Real Estate Marketing, Uncategorized | 11 Comments »

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