Mature Marketing & the Boomer/Millennial Divide
Hard to believe it’s already December — where did the year go? Each week we take a look at the mature marketing stories and inspirations that had people talking and sharing. This week we explore the differences between Boomer and Millennial multifamily buyers courtesy of Realty Biz News, and MarketingProfs helps us uncover the top eCommerce preferences and how we can apply them to our own marketing strategies. We’d love to hear your thoughts on these stories — be sure to share in the comment section below.
I think we can all agree that there are marked differences in the preferences, life experiences and desires of Boomers and Millennials. According to Realty Biz News, while the differences are great, the similarities are, too.
When it comes to why these two cohorts are interested in condos and multifamily homes the difference is obvious:
- Boomers are downsizing
- Millennials are purchasing a starter home
But, according to the article, there are many similarities when it comes to what they want:
- A location that offers easy access to dining, retail and entertainment
- Smaller homes that are in the city or in the immediate outskirt suburbs
Per David Wolf of ON Collaborative, a marketing and sales firm specializing in residential real estate, the era of “snazzy” has passed and these two groups want more:
“To date, multifamily developers have relied on snazzy Wi-Fi lounges, complimentary gourmet coffee bars, and lush community gardens to seduce both cohorts,” Wolf wrote. “It’s time to wake up. These features have gone from exceptional to conventional in the last five years. Instead, beefed-up basics and attention-grabbing extras now reign supreme.”
Regardless if you are selling multifamily, 55+ or Senior Living, one thing is sure: marketers need to have a significant understanding of the desires of their target market. Do your homework so you know who you are targeting and what their preferences are when it comes to home style, location and more. The more you know the more successful you will be.
There are three factors that influence eCommerce purchases, per an article from Clutch. You are probably wondering why we categorize this as mature marketing news. As I regularly share with my clients, the best innovators are constantly looking outside of their respective industries for marketing inspirations.
So what can we draw from this piece?
There are three things that consumers value about all else when it comes to what drives eCommerce purchases:
- Detailed descriptions
- Customer reviews
For marketers who target mature consumers these are three elements that are mission-critical to create interest. When Creating Results conducted Social, Silver Surfers, our national survey on the attitudes of 40+ers towards websites, we discovered that the mature consumer can visit your website up to seven times before they ever walk into your community. The more insights you can provide and the more excitement you can create the better, and that includes descriptions and photos that paint the picture of the lifestyle residents will enjoy and the spaces they will call home. And, let them hear first-hand the happy homeowner stories of people who have already moved. There is no better way to showcase what makes your community special.