Marketing to Boomers Jan24

Marketing to Boomers

Did you know that Baby Boomers are the second largest demographic in multifamily housing? Most companies only spend five percent of their advertising budget (and even less effort) on this growing group. Don’t be like them. We’ve got eight tips to master online marketing to Baby Boomers. State your cost—clearly—and why your property is worth it. This fundamental tip is especially relevant to Boomers. They have a lot of money to invest in companies that meet their needs. According to this Nielsen report, Boomers currently control about 70 percent of all disposable income in the US. In the next 20 years, they are set to inherit $13 trillion more. If your property meets their needs, they won’t need sales tricks to buy in. Ensure that your marketing story explains how your property can meet and exceed their expectations. They will be willing to pay top dollar. Highlight the conveniences of renting. Many Boomers opt to rent so that they can explore other interests without the burdens of homeownership. The amenities that set your rentals apart from homeownership are valuable selling features. As former homeowners, many Boomers know that property maintenance is hard work. Boomers will appreciate the assurance of prompt maintenance services. Highlight residents’ access to Online Maintenance Requests through Yardi RentCafe®. The tool will appeal to their desire for convenience. Tell the story of the active, hip Boomer. Boomers don’t want to be reminded that they’re aging. This generation focuses on an active lifestyle and exploring new interests. Feature local hiking trails, parks, and your community fitness classes on your website and social media. Let them envision living the lifestyle that they crave while in your community. Note that Boomers not done living it up. While some are caregivers and part-time babysitters for...