When analyzing your marketing strategy, it’s important to note the types of people you’ll be communicating with. All home buyers and sellers are not created equal, so it’s important to tailor your marketing efforts to fit the needs of specific demographics.
There’s a great article on Real Trends that addresses this issue, particularly concerning the Baby Boomer generation and people in their 20s and 30s.
The article highlights the fact that Baby Boomers are going to be moving to a place in life where they’ll want to sell their old homes and find places to retire. The National Association of Realtors states that senior citizens (a title these Boomers will claim shortly) typically release more real estate than they take in. This offers up plenty of homes that are perfect to market to 20- and 30-somethings who are finally getting to a place where they can purchase their first homes. So, this means that you could be working to market both generations at the same time, possibly over the same house!
Here are some of our favorite marketing strategies as outlined in the article from Real Trends:
When marketing to the Boomer Sellers, be sure to:
- Keep it old school. These people didn’t grow up in the age of iPads and smartphones. Stick with a tactic they know – human interaction. Learn how they like to communicate whether it be by email or face to face.
- Spend time with them. What better way to find out how to market to a group of people than to actually interact with them?
When marketing to younger buyers, be sure to:
- Be as tech-savvy as you can. In contrast with the Boomers, these youngsters are all about the instant gratification you get from the latest gadgets, apps, and media. Go crazy!
- Move away from print ads. Young buyers aren’t just tech-savvy. They’re also more skeptical of print advertising. Move your marketing budget around to include more youth-friendly campaign styles, like videos on YouTube or email blasts.
Remember, however, that these are merely guidelines to go by. Many Boomers are tech-savvy and some younger folks might shy away from technology, too. You just have to find the perfect balance depending on the needs of your clients. Communication is always key!