Unsurprisingly, many multifamily and apartment marketers are keen to rev up their marketing efforts for millennials, yet many property management companies still underestimate the market force potential of baby boomers. Every year, millions of boomers are trading in homeownership for the ease and convenience of renting. In fact, it’s estimated that by 2035 renters over the age of 60 will make up 31% of the rental market. So, how can you effectively market apartments to baby boomers? We’ve got the answers for you!
A Quick Guide to Marketing Apartments to Baby Boomers
For a boomer-friendly game plan, incorporate these top tips when crafting your marketing strategy.
Explain Why Renting is Great
There are a few reasons why baby boomers are abandoning the thought of homeownership and turning to rentals. These are some of the top reasons why more baby boomers are renting:
- Looking to downsize: Their kids have grown and gone, they don’t need large houses with many rooms. Think about all of that cleaning and maintenance.
- Save money: Purchasing and owning a home is expensive. Repairs, remodeling, and just general maintenance can add up quickly. Renting can help baby boomers save hundreds or thousands of dollars a year.
- Looking for convenience: Boomers don’t want to deal with maintenance. They want the burden of mowing lawns, shoveling snow, and unclog toilets to fall on someone else’s shoulders.
Show-Off Visitor-Friendly Amenities
Baby boomers will likely have kids and grandkids frequently visiting. Showing off visitor-friendly amenities will be a major advantage. Ample parking, playgrounds, rentable common spaces (like a Clubhouse) are just a few of the amenities that indicate you are a visitor-friendly community.
Don’t Forget the Traditional Touches
Even though we preach the importance of digital, many boomers still prefer traditional marketing approaches. Boomer-focused brochures and hand-outs are still great ways to connect with this generation. Don’t forget, this generation is recently retired, so the focus of these materials include details about the local area and the ways this generation can spend their extra free time.
Unlike millennials, as much as 55% of baby boomers prefer internet listing sites over community websites. In fact, the top search channels for baby boomers are ILS, drive-bys, and word-of-mouth. As good practice, anytime you update your website update your ILS.
Swimming Pools and a Gym are Musts
Swimming pools and gyms are considered standard for younger generations, but for baby boomers, they are a must-have. Include pictures of these amenities on your site, ILS, social media, and anywhere a boomer might stumble upon.
Safety and Security are Top Concerns
Baby boomers consider an ideal community to be well kept, quiet, and safe. Well-maintained streets, sidewalks, and safe communities are incredibly important considerations for this age group. Be sure to include Fair Housing compliant keywords. This is one of our favorite lists for suggested fair housing advertising words.
Choose the Right Social Networks
While Facebook is the most popular channel for all generations, the second favorite social media network for boomers is LinkedIn. The second choice for Gen Z and Millennials is Instagram. So if you’re looking to target baby boomers, skip Instagram and rev up your efforts on Facebook ads and your LinkedIn presence.
Give Them Storage Space
Baby boomers have a lifetime of collecting cherished memorabilia, trinkets, and belongings, so ample storage space is a major plus for this generation. Highlight any storage space in your marketing and on your site.
Don’t Underestimate the Personal Touch
While we often don’t give enough credit to the tech-savvy boomers out there, we can’t forget that some boomers find little value in online rent payments and virtual tours. Offering in-person payments or check drop-offs are great ways to cater to the technology-challenged members of this generation. After tours, a follow-up of handwritten cards thanking them for their time is another great way to build a connection with a boomer renter.
When searching for their new home, more than 63% of baby boomers rely on apartment reviews. Every apartment manager should make it a part of their daily checklist to check and respond to reviews – good and bad. Don’t leave generic, copy-and-pasted responses either. Remember that personal touch we talked about? Use some of that!
Provide a Social Calendar
Unlike their younger counterparts, many baby boomers only work part-time or don’t work at all. So, they need activities to fill up their calendars. You can stand out by offering a wide range of activities such as happy hours, pet-friendly events, cooking classes, and more. (Guess what? Millennials and Gen Z love social events too! Talk about a win-win!)
Millennials and baby boomers are undoubtedly the driving factors behind the multifamily industry. That’s why it’s crucial that you have a clear understanding of your target demographic and build a marketing strategy that will resonate with them. For baby boomers, while they may be considered a bit “old-school,” taking the time to understand their wants and needs will go a long way in increasing occupancy and creating long-term residents. By following these tips for marketing apartments to baby boomers, you’ll be able to connect with this demographic in no time!
Do you need help marketing apartments to baby boomers or your target demographic? Schedule a demo with our apartment marketing experts at REPLI today.
Siobhan Park is a Digital Marketing Specialist (and the Culture Captain) at REPLI.
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