Marketing to Boomers

Tips for Multifamily Firms

By Erica Rascón on Jan 24, 2017 in Marketing

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.

1. 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.

2. 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.

3. 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 grandkids, that’s not their whole story. They still believe in investing in themselves and their future satisfaction.

A survey reveals that 70 percent of Boomers believe they can get a better home than they currently have. Even when they downsize, they seek nicer amenities. Marketing the bells and whistles of your property is just as important to this group as it is to Millennials.

Use data from surveys to learn what current renters love about your community. Magnify those features in your marketing story. Integrate residents’ direct quotations when possible.

4. Show Boomers how they can host the people that they love. Boomers will want to entertain their friends, kids and grandkids (especially the grandkids). Your marketing story can help them imagine themselves hosting in your community. This is a great story to tell through visuals!

5. Reputation management can make or break your appeal to boomers. J Turner Research reports that 78 percent of Baby Boomers refer to reviews before making a purchase.

Give testimonials a prominent spot on your webpage. Scour third-party review sites and address negative reviews that you find.

6. Make the online research and leasing process simple. Boomers are tech savvy researchers. They will explore your website and social media sites to inform their decision. Make it simple for them to find what they need.

RentCafe websites are easy to navigate. Users can view photo galleries, 360 tours, videos, reviews, and more all in one space. When they’re ready, users can complete the leasing application online.

For added convenience, residents can explore RentCafe websites in 60 languages.

7. Speak like a person, not a trend. Abbreviated language, emojis, and the creative uses of symbols rarely impress Boomers. Get their attention by spelling it out and make it plain.

8. Stellar customer service seals deals. Friendly follow-ups are incredibly important with this demographic. Remember: they are thorough researchers. They may walk away from the property to think or research more. Stay in contact, answer any questions, and be personable!