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Marketing and Motivating Boomers and Beyond

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Targeting Baby Boomers? Consider Radio

Friday, March 12th, 2010

Consider this scenario: A nation struggling with economic hardship and uncertainty; a president looking to connect with the public in a 1933FDRFiresidechat.NPR.HarrisandEwingway that seems personal and relevant.  He turns to a brand new medium that’s spreading like wildfire and sends out his message “one-to-one.”  This was the scene on March 12 in 1933, when President Franklin Delano Roosevelt used radio to deliver the very first fireside chat.  For those marketing to Baby Boomers and beyond, the (no longer new) medium of radio is still a great way to reach a targeted older audience.

Demographics of Radio Listeners

Radio, which first arrived in the US in the 1920, was quickly adopted by urban citizens.  Today, it reaches more 77% of adults daily.  76% of Baby Boomers listen to radio, more than any other demographic cohort. 

News/talk formats and public radio stations are especially appealing to mature, highly-educated listeners.  The average age of a public radio listener is 54.1 years old.  42% of NPR listeners are over 50 and 54% are college graduates.

In their “State of the Media Report,” The Pew Project for Excellence in Journalism notes that:

Listeners of news/talk radio tend to be older than those of other formats, plus more educated and affluent.  More than half (57%) are over the age of 55 and three-quarters (77%) are over 45. Nearly half (45%) are college graduates and more than 4 in 10 (41%) have a household income of $75,000 or more.

Age may be a factor of the differences between AM and FM listeners. Traditionally, most news/talk has aired on the AM band, where listeners tend to be older.

Will Digital Kill the Radio Stars?

With iPods, music on demand, the Internet and satellite radio all cutting into broadcast radio’s “turf,” is it any wonder that Pew writes “Radio is well on its way to becoming something altogether new — a medium called audio.”

But even as radio becomes audio, it’s still an effective way to market to Boomers.  

In 2005, Arbitron reported satellite radio audience “more closely mirrors the age and gender profile of the average American than audiences of other digital forms of radio … 18% are age 55 and older.”  At the time of that study, another 18% were aged 45-54 – younger Baby Boomers (aka Gen Jones).  Satellite radio subscribers are also wealthier; they are twice as likely to live in a household with an income of $100,000 or more.  Older subscribers say they appreciate the ability to find music from their youth that is no longer played on broadcast radio; they also like filtering out the on-air chatter of commercial radio, sometimes perceived as offensive.

And, in 2006, Edison Research and Arbitron found that 26% of Americans over 45 years old had listened to radio streamed over the Internet in the last month.  Remember: Boomers are particularly time-pressed, often caring for elder parents and/or adult children (or grandchildren) while still working.  Internet radio allows them to listen when they want, and to the content or programming that’s most relevant to them. 

Will your 2010 plans include radio?  Share your thoughts below.

Fewer Younger Veterans Than in Past Generations

Thursday, March 4th, 2010

The excellent Pew Research Center report, “Millennials: Confident. Connected. Open to Change,” contains this nugget of insight regarding military service across the generations. 

  • In 1964, when Silents were ages 19-36 yrs old, 24% had already served in military.
  • In 1978, when Boomers were ages 14-32 yrs old, 13% were veterans.
  • In 1995, Gen X were ages 15-30 yrs old, 6% had served.
  • Millennials are currently 18-29 yrs old.  Per 2010 Pew research, only 2% are veterans.

(You also can look at this data in Pew’s excellent interactive chart, comparing generations now and when they were the same ages.)

No wonder the Silent Generation feels that their wartime experiences/history are what make their generation unique from Baby Boomers, Gen X and the Millennials. 

Learn about marketing to mature veterans as a senior “niche” by reading our 2009 post on the subject.  And add your comments below on what this shift means – if anything – to generational marketers.

Social Networking Habits of Baby Boomers and Beyond

Wednesday, March 3rd, 2010

More insights from a new Pew Research Center study on the Millennials, which compares the attitudes and habits of 18-29 year olds with those of the Baby Boom, Silent and X generations.  Today’s topic: Social networking.

0210SocialNetworkingUsersByGeneration.PewReschCtr

Despite tremendous growth in the numbers of Baby Boomers and matures actively participating in social networks, Pew Research Center found that “Only 30% of all Boomers and 6% of members of the Silent generation have created their own profile on a social networking site.”

 Now, 30% of all Baby Boomers is a sizable group, but the research reminds mature marketers it’s good to be choosy about how much and where to invest in social media marketing.

Nearly 1 in 5 (19%) Gen Xers and fewer than 1 in 10 (11%) Boomers told Pew they visit social networking sites multiple times a day.  More Boomers (26%) than Gen X (19%) go on once a day.  14% Millennials, 10% Gen X, 6% of Baby Boomers and 1% of Silent Generation members say they have ever used Twitter.

Learn more about social media and Boomers/seniors.  Please check out our other posts on this subject or download our complimentary “Top 10 Take-aways” from the 2010 Builders Show.  Or, email social [at] creatingresults.com to request our Social Media Cheat Sheet (with descriptions, data on popular social networking sites) and the Social Media Survival Guide (lays out a five-step plan for getting your brand socially engaged).

Technology Use, Attitudes Distinguish Youngers from Elders

Tuesday, March 2nd, 2010

Another look at the generational marketing snapshots provided in the new Pew Research Center study on Millennials (see yesterday’s post).  Today’s topic: Technology. 

 Two years ago, Harris Interactive asked Americans what they’d re-name their generation, if they could.  A full quarter of both Millennials and Gen X chose “Generation Tech.”  That finding is confirmed in Pew’s new research which reported that – especially for the 18-29 year olds -, technology is what defines them as distinct from Boomers and beyond.

0210TechnologyUseByGeneration.PewReschCtr

It’s not just use of technology but attitude that distinguishes Millennials and Gen Xers from their elders.

“[A] majority of the public takes the positive view of modern technology. Half of the public says that new technology makes people closer to their friends and family, but 39% say that new technology makes people more isolated. A majority of Millennials (54%) and Gen Xers (52%) think that new technology makes people closer to each other rather than more isolated. But Boomers and members of the Silent generation are more divided in their opinion.”

The upshot for those marketing to Baby Boomers and Silent Generation?  Many elders are tech savvy and active online.  But it’s not what defines them.  Don’t forget traditional marketing techniques such as direct mail or print advertising when trying to motivate 50+ consumers.

Generational Snapshots from Pew Research Center

Monday, March 1st, 2010

The Pew Research Center’s latest study, “Millennials: Confident. Connected. Open to Change” provides insights for marketing to Gen X, Baby Boomers and Silent Generation as well as the nation’s 18-29 year olds.  This week we’ll post short takes related to social networking, economic outlooks and other topics.  We recommend reading the full study and spending some time with the terrific interactive graphs that compare the generations todayand when they were at the same age as Millennials are now.

Do Generational Distinctions Matter to Marketing?

How we see ourselves does matter to marketing, so it’s interesting to note that each of the four generations told researchers that there are reasons they are unique. 

First, here’s how Pew defines the generations:

  • Millennial: Born after 1980, currently 18-29 years old
  • Generation X:  Born between 1965-1980, now 30-45 years old
  • Baby Boom: Born 1946-1964, currently ages 46-64 (includes both leading edge/older Boomers and the trailing edge/younger Boomers often broken out as “Generation Jones”)
  • Silent (aka “Ikes”): Born between 1928-1945, now 65 years old or better

Now, here’s how each generation defines what makes them different than the rest.

0210WhatMakesGenerationUnique.PewReschCtr

All of the generations except the Millennials said work ethic was a distinguishing trait.  This is especially ironic because Pew’s study also shows that 15% of Millennials reported being successful in a high-paying career was one of the most important things in their lives (vs. only 7% of respondents over 30 years old who felt that way).

The report cites Millennials (61%) and Silents (66%) as saying theirs is a unique generation.  The Silent Generation respondents were most likely to say that theirs is not just a different generation, but it is better/stronger than the others (4%).

Silents also were most likely to say that the historic times in which they lived were defining of their generation.  (Check out this case study of branding/market research done for a museum focused on WWI and WWI experiences to see one way we’ve applied this type of insight.)  Perhaps this will get lazy marketers to stop tossing peace symbols and Woodstock references into every Boomer-oriented ad?

Service Groups – Ageless Pursuits, Aging Members

Tuesday, February 23rd, 2010

The oldest service group in the US, Rotary International, turns 105 today.  Like many other service groups (such as the Elks, Kiwanis, et al), Rotary is facing challeges caused by demographics – an aging membership – and marketing – how to show value and relevance to younger generations.rotary24-inch

The Press of Atlantic City took a closer look at service groups and their membership in January:

The average age for members of service groups has steadily risen, and is now in the late 50s for most. Since young people have not been joining the groups, there is a fear that the average age will continue to rise and that increased health problems will prevent members from being as effective.

It isn’t that young people are not volunteering, said sociologist Peter Levine, of the Center for Information and Research on Civic Learning and Engagement at Tufts University. They just do not tend to join organizations such as service clubs, which can require weekly meetings at restaurants; annual dues of at least $100, plus meal costs; and the time commitment of serving on committees.

Instead, young people and parents of young children volunteer for events and charities that they can fit into busy work and family lives.

Rotary has been adjusting to the times with new classes of memberships and different types of clubs that meet less frequently or even online.  The service organization continues to experience strong growth overseas and achieve remarkable things.  Read the entire article here.

At Creating Results, we feel the principles and pursuits of service groups like Rotary are truly ageless – it’s a great place for Gen X, Baby Boomers the (not-so-) Silent Generation, AND Gen Y/younger people.

Todd Harff is Vice-President of the Lake Ridge (VA) service group, and our charity arm, Creating Results in the Community, has partnered with Rotary on many projects.  Most recently we sent a Shelter Box to help people in Haiti.  An added benefit is that Rotarians have been great clients. 

Rotary has 1.2 million members in 33,000 clubs worldwide.  Learn more about the organization here: http://rotary.org/EN/ABOUTUS/Pages/ridefault.aspx

And, Happy Birthday, Rotary!

US Online Population Shifts Older, Resembles Offline

Wednesday, February 17th, 2010

eMarketer’s new data on the US Internet population shows that the online world now resembles the offline: filled with active older consumers.  Internet usage is shifting, as mature users have taken to the Web.  Those marketing to Boomers and seniors will note that eMarketer predicts this trend will continue for the next five years: “More than one-half of new users will be ages 45 and up, as many of the remaining laggards come on board.”

Here is the eMarketer chart projecting the US Internet user penetration, by age, for the next 5 years:

USInternetUserPenetrationByAge2008-20014.eMarketer

 

For those curious, here are the US Census projections related to the US population as a whole, by age:

USPopGrowthbyAge2005-2015.Census

As we noted on this blog last week, long gone are the days of thinking mature consumers are not online. Any business marketing lifestyle services to Boomers and seniors must have a well-constructed Internet strategy and design their websites so they are friendly to mature consumers.  Internet success is critical to overall success, and it will not happen overnight.

Social Media and Boomer, Senior Homebuyers: Untangling the Web

Thursday, February 11th, 2010

Social media marketing seemed to be the topic of the hour at the 2010 International Builders Show (and other conferences I’ve attended in the past few months, such as the American Association of Homes and Services for the Aging event).  Builders and developers – of active adult communities, of intergenerational housing, of continuing care retirement communities – are all wondering how these newer online marketing tools can drive sales with Boomer and Senior homebuyers.

In a new white paper with the “Top Ten Take-Aways from IBS 2010,” tip #9 addresses Untangling the Web.  While the seniors housing industry is buzzing about social media, there are a lot of questions about whether to dive in.

Is Social Media Marketing Worth It with Baby Boomers and Seniors?

For those with 50+ age-qualified properties, question #1 often is: Should I even bother? As we’ve talked about frequently on this blog, YES.  Seniors, Boomers, folks over 40 – they’re online, and actively engaged in social media.  Just last week, eMarketer highlighted the growing presence of Boomers on social networks.SocialNetworkingUseByGeneration.eMarketer

It’s not just Baby Boomers, either.  The stats show that 36% of Internet users over 63 are actively maintaining a social networking profile.  (Roughly 13% of the entire US population is over 65.)

The short answer is every builder needs to be engaged in social media at some level.

Case Study: Using Social Media Techniques to Reach CCRC Retiree Prospects

Recently our team had the honor of working with Willow Valley Retirement Communitiesto revamp their website.  Willow Valley is the nation’s third largest retirement community, and – unlike most CCRCs which draw primarily from their local area – it’s a true destination.  Willow Valley attracts retirees from 37 states.

Their prospects are educated, active and typically in their 70s.  However, the Willow Valley and Creating Results teams recognize the gradual shift that will occur over the next decade, as the Silent Generation (born between 1925 and 1942) is joined by Baby Boomers (born 1946-1964).

Our plan for their new website was to make it not only functional and attractive, but to make the website the first stop on a prospect’s journey to retirement.  That means it has to truly engaging.  Social media techniques are built in throughout the site:

* share with a friend features – retirees can email, tweet or post content from any where in the site to their Facebook account
* videos embedded into the site from a branded WillowValley-TV channel on YouTube
* publications piped in from a digital publishing library that encourages sharing
* multiple calls for feedback and interaction (“suggest it to our librarian”)

The site is structured so that, looking ahead, the client can phase in more social engagement opportunities – message boards, blogs and comments/reviews.

Getting Social with Seniors, Strategically

Judging by the turnout at IBS social media sessions, many builders and developers are stuck on question #2 is: Where do I start?

I counsel our clients with active adult or continuing care retirement communities to start with the fundamentals, and that includes a plan.  Any business wanting to incorporate social media into their Boomer marketing should have a strategy, goals, and have a plan that shows how social engagement is integrated into their rest of their marketing program for maximum impact.

(Creating Results also offers clients a bundle of social marketing services, including education, strategy and training … but that’s another story.)

Let’s put the question to you:  In 2010, where will you start in your efforts to untangle the web and reach Boomers/senior homebuyers through social media? How can building community online drive sales for active adult and retirement communities offline?

Please share your thoughts and questions below.

Marketing Active Adult, Retirement Communities to Boomers and Beyond Requires an Internet Blueprint

Wednesday, February 10th, 2010

It’s time for tip #9 from my “top 10 take-aways” from the 2010 International Builders Show (IBS): “Untangling the Web.”

Marketing to seniors and Baby Boomers via the Web involves making full use of SEO best practices, social networking tools, interactive features, active adult friendly designs and more.  Sadly, too many builders and developers forget to approach online marketing the way they would a new home: with a blueprint for success.  I love the way eMarketer puts it: “planning and organization are no longer optional.”

At IBS, sessions related to Internet marketing and homebuyers were very popular.  It seemed like everywhere builders and developers looked at this Las Vegas conference, someone was telling them to bet some or all of their marketing dollars on the Web. Without an internet strategy – a “blueprint” –, many communities are wasting time and money.

When speaking at the 50+ New England Housing Council’s annual meeting last month, I said there are three things to keep in mind for marketing active adult and retirement communities online:

* Print is not dead
* The Internet is not free
* Internet success is not overnight success

I invite you to share your thoughts below:  In your experience, are builders and developers spending enough time on internet strategy?  What “three things” will you keep in mind for your efforts in 2010?

P.S.  The “10 take-aways” white paper I mentioned above offers additional insights and some statistics from the new NAHB Marketing to Active Adults course that can help you benchmark your Internet success.  Complimentary download here.

What is the Future of Active Adult Housing?

Tuesday, February 9th, 2010

Was 2009 the end of 55+, age-qualified, active adult housing?  It certainly was a painful year for builders, developers, and experts like myself, who had expected this market would out-perform the overall housing market during a downturn.  Instead, as I note in my Top Ten Take-Aways from IBS, mature homebuyers – primarily discretionary purchasers – exercised their discretion and stayed put.

Active Adult communities have been age-qualified; you must be 55 years old or better to live in one.  For years, this type of housing has been a sweet spot.

However, the Baby Boomers were hit hardest of all by the crash of the financial, real estate and employment markets.  Now, gone are a willingness to pay for golf course views or useless and expensive upgrades.  Is the willingness to live in an age-qualified community gone, too?

Redefining Reetirement Communities

Even before our current economic challenges, Baby Boomers were already redefining retirement, and therefore redefining retirement communities.  Tennis courts were being replaced by business centers.  Bonus rooms were used as home offices.  Research we conducted for Central Parke 55+ Resort Communities led to the establishment of an Osher Lifelong Learning Institute (OLLI) campus at their Victoria Falls community.

As I wrote for the 50+ Housing Magazine in 2007,

Working for a life.quote

What’s next?  At this year’s International Builders Show (IBS), industry experts told me the future was in:

  • Urban infill
  • Co-housing
  • Aging-in-place
  • University-affiliated senior housing
  • Intergenerational communities

Everyone seemed to have a different opinion of where the industry would go. I think that they are all right, and I’m not even a politician. I say The Active Adult Market is Dead – Long Live the Active AdultS MarketS.

The Baby Boom is a generation of roughly 78 million.  The US 50+ population is becoming increasingly diverse.  One size of housing will not fit all; indeed, it never has.

For builders and developers, the challenge is to define which 50+ subgroup you’re targeting, and to take steps to truly understand them.  Hire a good market research agency.  Comb through your database.  That prospect on your list is in a different place, economically and psychologically, than they were in 2008 or 2009.  Conduct new surveys and listening sessions to understand what they now need and desire.

What do you think?  What is the future of active adult housing?  What can builders, developers and mature marketers do to thrive in a world with many different active adults marketS?


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