With all the attention being showered on Millennials, it’s very easy to forget about the largest generational market that existed before them – Baby Boomers. Baby Boomers are still out there and still own plenty of real estate. Members of this generation are retiring or are approaching retirement age, which is when many choose to purchase a vacation home or move out of their existing home for a variety of reasons—a more favorable tax area, better climate, be closer to family or amenities, downsize or a need to move to a facility with care. In many cases, the listings for downsizing Boomers tend to be much larger and more expensive than average. Will you be the one they buy and list with?
Many of these consumers are considering moving from the homes and communities where they raised their families and it can be a complex transition. But if you’ve nurtured your relationships with Boomer clients, there is a good chance you will get the call. Good customer service is going to be extra valuable to this segment, as they will likely have lots of questions and be in need a of a good source for information and guidance beyond just how to list their home. They are also very loyal to those who go the extra mile and provide value-added service. The reward is that they are great for referrals. Provide a positive experience and it is sure to be shared with their friends, families and neighbors tenfold. If this demographic is missing from your sphere, here are some tips to help you make connections:
What Are The Best Ways To Target Baby Boomers?
Digital Marketing & Social Media
You might think that social media and digital marketing efforts are best used for younger client segments. Not so! There is a very high percentage of Boomers on the internet and social media platforms like Facebook, making them readily accessible. However, they behave differently online than their Millennial counterparts, just as they do offline. With that in mind, here are a few ways agents can reach out to form meaningful relationships with them that lead to repeat business.
Here are a few statistics:
- 3% of baby Boomers belong to at least one social media site. (Source DMN3)
- Baby Boomers spend 27 hours per week online, which is two hours more per week than those who are between 16 and 34. (Source Colorado University)
- Baby Boomers take action based on what they see on social media, and most of the time it’s focused on finding more information. (Source DMN3)
- Baby Boomers are 19% more likely to share content compared to any other generation, reinforcing the notion that Facebook’s demographic is trending slightly older. (Source Digital Trends)
In fact, because of their high level of web-based activity Baby Boomers have now earned the name “Silver Surfers”! Aside from their very real presence online, this niche is by far one of the most valuable of all.
Baby Boomers grew up on traditional mail and trust it as a source of valuable information. Direct mail is a perfect fit to do regular outreach and stay in touch with this market segment or invite them to events sponsored by your office.
Host or Sponsor Relevant Events
A valuable way to build your database, give back, create storytelling content, and form more personal relationships with Boomers and their families is to host or sponsor events that matter to them. This could be something like a charity-related walk, or a seminar tied to a local community group that they are involved with, such as a local Senior Center or YMCA. Topics could include sessions on decluttering, how to downsize, financial planning or even keeping up with technology. To maximize the impact of this effort, talk to as many people as you can and document the event to share on your website, newsletter, and social media. Then input your new connections into your CRM so that you can continue to build upon those relationships.
Create Informative Longform Content
According to QuickSprout, videos that are slower paced and have a great deal of information are more likely to appeal to Baby Boomers than faster-paced videos with too many visuals. Remember that your audience will have a thirst for content that helps solve their problems, without overwhelming them. Therefore, you should be diligent about producing long-form content with detailed instructions and examples. Also, be sure to make any audio or visual content easy for aging eyes and ears to consume by optimizing the sound and video quality as much as possible.
Make Contacts Within The Community
It’s always who you know, so having connections with organizations in the community can go a long way in getting Baby Boomer business. Senior living communities are great groups to partner with as well as Financial planners. Get to know the key managers of these organizations or join networking groups that they are part of. They can all be a great source for referrals!
Leading With Trust
All consumers, but especially Baby Boomers, place tremendous value on partners they can trust. This is not something built overnight. It’s a principle which Jim Weichert held near and dear to his heart from the moment he started the Weichert brand. He knew that no matter how the business changed, or the customers changed, one thing that would always stay the same is the value of a real relationship. To learn more about how you can build stronger relationships with your agents and empower them to do the same with their clients of all marketing segments, go to https://www.weichertfranchise.com