Marketing Apartments to Active Adults

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In this presentation you will learn some do's and don't relative to leasing apartment homes to active adults.

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  • Marketing Apartments to Active Adults

    1. 1. Marketing apartments to active adults
    2. 2. To preface <ul><li>Active Adults are not statistics </li></ul><ul><li>Home really is where the heart is </li></ul><ul><li>Taglines </li></ul><ul><ul><li>The third age </li></ul></ul><ul><ul><li>Forward Living </li></ul></ul><ul><ul><li>Gray Wave </li></ul></ul><ul><ul><li>Aging in place </li></ul></ul><ul><li>Redefining small </li></ul><ul><li>Right-sizing not down-sizing </li></ul><ul><li>It is a process; it is not a traditional leasing process. It takes time </li></ul><ul><li>Not homogeneous, can’t make sweeping generalizations </li></ul><ul><li>Healthier and Wealthier than previous generations </li></ul><ul><li>Embrace youthful lifestyle </li></ul><ul><li>Want new pursuits and to fulfill undone areas of their life </li></ul><ul><li>Motivated by lifestyle change not real estate purchases </li></ul>
    3. 3. Active Adult Living <ul><li>Age 55+ </li></ul><ul><li>21% of the population is age 55 or older </li></ul><ul><li>330 an hour </li></ul><ul><li>25% of population by 2010 </li></ul><ul><li>75 to 80 million people </li></ul><ul><li>Born between 1946 and 1964 </li></ul><ul><li>$2 trillion to spend annually </li></ul><ul><li>22.3 million have incomes over $50,000 </li></ul><ul><li>Half will continue to work; consulting and telecommuting </li></ul><ul><li>Very discriminating when searching for housing </li></ul><ul><li>They love to gab </li></ul><ul><li>Desire independent living </li></ul><ul><li>Desire to remain very active </li></ul><ul><li>Desire a sense of community </li></ul><ul><li>Do not desire to be confined </li></ul><ul><li>Not all active adults desire to move to another city, state or country </li></ul><ul><li>Climate is important </li></ul><ul><li>Can focus more on wants vs. needs </li></ul><ul><li>Young at heart </li></ul><ul><li>Want to avoid stress </li></ul>
    4. 4. Trends <ul><li>Want to be close to family </li></ul><ul><li>Moving back from Florida and Arizona </li></ul><ul><li>Moving back to the city from the burbs </li></ul><ul><li>Overwhelming choices to com </li></ul><ul><li>Smart living (for older Active Adults) </li></ul><ul><ul><li>Fridge that tracks use </li></ul></ul><ul><ul><li>Flooring that tracks movement </li></ul></ul>
    5. 5. How they receive information <ul><li>News junkies </li></ul><ul><ul><li>Television: </li></ul></ul><ul><ul><ul><li>80% watch both regional as well as national news </li></ul></ul></ul><ul><ul><ul><li>Watch more TV than any other activity </li></ul></ul></ul><ul><ul><ul><ul><li>Up to 6 hours a day </li></ul></ul></ul></ul><ul><ul><ul><ul><li>News, game shows and talk shows </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Top networks; Hallmark, TCM, Golf Channel, History Channel, Fox News, CNN, AMC, and TWC </li></ul></ul></ul></ul><ul><ul><li>Newspapers: </li></ul></ul><ul><ul><ul><li>80% read the newspaper daily or several times a week </li></ul></ul></ul><ul><ul><ul><li>Top Sections of the newspaper; general news, editorial page, business/finance, sports, food/cooking </li></ul></ul></ul><ul><ul><li>Internet (according to Nielsen/NetRatings, active adults are the fastest growing age group online </li></ul></ul><ul><ul><ul><li>70% of active adults go online (57% for news, 76% to purchase goods and services) </li></ul></ul></ul><ul><ul><ul><li>Use search to find information </li></ul></ul></ul><ul><ul><ul><li>More likely to use print or product labels to go to websites </li></ul></ul></ul>
    6. 6. What they face <ul><li>When they want to move </li></ul><ul><li>Where they want to move </li></ul><ul><li>How much they can afford to spend </li></ul><ul><li>Proximity to healthcare </li></ul><ul><li>Choices are growing </li></ul><ul><li>Do we need two locations </li></ul><ul><li>Does my spouse have the same dreams </li></ul><ul><li>Climate </li></ul><ul><li>Purpose </li></ul><ul><li>Work? </li></ul><ul><li>Volunteering opportunities </li></ul><ul><li>Are we close to friends and family </li></ul><ul><li>Want to be close to the city </li></ul><ul><li>Want to be close to the beach </li></ul><ul><li>Want to be close to small town and cultural events </li></ul><ul><li>Want to be near a lake or river for fishing </li></ul><ul><li>Close to resorts for weekend getaways </li></ul><ul><li>Might move more than once </li></ul><ul><li>They are on a fixed income </li></ul><ul><li>Failing eyesight </li></ul>
    7. 7. Questions they ask themselves <ul><li>Do I want to maintain my current home as I age? </li></ul><ul><li>Am I willing to leave the home where I raised a family? </li></ul><ul><li>Do I enjoy being a part of a community? </li></ul><ul><li>Do I want to live around others my age? </li></ul><ul><li>Would I like to live in a facility with amenities such as a pool and golf course? </li></ul><ul><li>Am I comfortable living in an apartment? </li></ul><ul><li>Do I have the income or savings necessary for monthly rent? </li></ul><ul><li>They make lists of things they enjoy and then they prioritize them </li></ul>
    8. 8. Benefits they look for <ul><li>Low maintenance cost and time commitments </li></ul><ul><li>Security </li></ul><ul><li>Low cost </li></ul><ul><li>Freedom </li></ul><ul><li>Camaraderie </li></ul><ul><li>Close to family and friends </li></ul><ul><li>Uber-premium customer service </li></ul><ul><ul><li>Work on emotions and how you make them feel </li></ul></ul><ul><ul><ul><li>Key elements: timing, dependability, communication and flexibility </li></ul></ul></ul>
    9. 9. Community Amenities <ul><li>Super huge community centers </li></ul><ul><li>State of the art fitness facilities </li></ul><ul><ul><li>Access to trainers and assistance in diet, health and well being </li></ul></ul><ul><li>Indoor/Outdoor swimming pools </li></ul><ul><li>Saunas </li></ul><ul><li>Shuffleboard </li></ul><ul><li>Bocce ball </li></ul><ul><li>Arts and Crafts </li></ul><ul><li>Libraries </li></ul><ul><li>Computer labs </li></ul><ul><li>Game rooms </li></ul><ul><ul><li>Wii and other life enhancing video games </li></ul></ul><ul><li>Spa </li></ul><ul><li>Tennis courts </li></ul><ul><li>Basketball courts </li></ul><ul><li>Horseshoe pits </li></ul><ul><li>Walking trails </li></ul><ul><li>Restriction on children </li></ul>
    10. 10. Apartments in General <ul><li>Single Family Feel </li></ul><ul><ul><li>Single Story </li></ul></ul><ul><ul><li>2x1 and 3x2 most popular floor plans for apartment living </li></ul></ul><ul><ul><ul><li>900 to 2000 sq. ft. </li></ul></ul></ul><ul><ul><li>1x1 if older than 75 </li></ul></ul><ul><ul><li>Want space to be uniquely theirs (choice) </li></ul></ul><ul><ul><li>Open space with lots of light </li></ul></ul><ul><ul><li>Urban settings </li></ul></ul><ul><ul><li>Smaller developments </li></ul></ul><ul><ul><li>Attractive scenery </li></ul></ul>
    11. 11. Apartment Amenities <ul><li>Single floor </li></ul><ul><ul><li>Master, Kitchen, Living and Laundry </li></ul></ul><ul><li>If 2 story: guest live upstairs </li></ul><ul><li>Home offices </li></ul><ul><li>Free wi-fi in unit and hotspots in the clubhouses and pool areas </li></ul><ul><li>High-end kitchens </li></ul><ul><li>Granite Countertops </li></ul><ul><li>Hardwood floors </li></ul><ul><li>Tiled Bathrooms </li></ul><ul><li>Few steps or stairs </li></ul><ul><li>Toggle switches </li></ul><ul><li>Lever handles </li></ul><ul><li>Wider doors </li></ul><ul><li>Shower with a seat </li></ul><ul><li>Little of no maintenance or upkeep (yard, snow or landscape) </li></ul>
    12. 12. How to reach them <ul><li>Websites </li></ul><ul><li>Print media guides (Senior Outlook: For Rent Magazine) </li></ul><ul><li>Rotary Club and other social meetings </li></ul><ul><li>HR health fairs </li></ul><ul><li>Company specific seminars </li></ul><ul><li>Newspapers stories </li></ul><ul><li>Television stories </li></ul><ul><li>Infomercials </li></ul>
    13. 13. Marketing Words to avoid <ul><li>Retiree </li></ul><ul><li>Senior Citizen </li></ul><ul><li>Aging </li></ul><ul><li>Elderly </li></ul><ul><li>Golden years </li></ul><ul><li>Silver years </li></ul><ul><li>Prime time </li></ul><ul><li>Mature </li></ul>
    14. 14. Marketing Messages that work <ul><li>Emphasis “Active” </li></ul><ul><li>Value/Affordability </li></ul><ul><ul><li>Benefits </li></ul></ul><ul><ul><li>Lifestyle they want </li></ul></ul><ul><li>Sense of community </li></ul><ul><ul><li>Both social and intellectual </li></ul></ul><ul><li>Amenities </li></ul><ul><ul><li>Social in nature </li></ul></ul><ul><ul><li>Enhance experience around dining and activity </li></ul></ul>
    15. 15. Where to market <ul><li>Channels that deliver news and information </li></ul><ul><ul><li>Websites (must emulate the personality of your community) </li></ul></ul><ul><ul><ul><li>Video, hosted tour of community and specific units </li></ul></ul></ul><ul><ul><ul><li>Easy to create and share conversation; forums, blogs </li></ul></ul></ul><ul><ul><ul><li>Maps and downloadable colorful and designable brochures </li></ul></ul></ul><ul><ul><li>Banner ads on relevant news oriented sites </li></ul></ul><ul><li>Online communities; Web 2.0 or social media sites around the follow: </li></ul><ul><ul><li>News, local dining, activity calendars, message boards, local events, weather, games, downloadable handbooks </li></ul></ul><ul><li>Branded E-newsletters </li></ul><ul><li>Blogs </li></ul><ul><li>Search engines ( www.cranky.com ) </li></ul><ul><li>Media press releases </li></ul><ul><ul><li>Lifestyle, health and business reporters </li></ul></ul><ul><ul><li>Grand opening, unique people in community, national trends that you can localize to your community </li></ul></ul>
    16. 16. Website tips <ul><li>Larger fonts or at least the ability to increase size </li></ul><ul><li>Easy to navigate, simple, clean, consistent </li></ul><ul><li>Provide checklists of things to think about </li></ul><ul><li>Lists of questions to think about </li></ul><ul><li>Provide common answers to those checklist and questions </li></ul><ul><li>Test it with users and be open to change </li></ul><ul><li>Link to sites dedicated to active adults </li></ul><ul><li>Pay for links if need be </li></ul><ul><li>Think about PPC (pay per click); Google’s adwords </li></ul><ul><li>Get SEO counsel </li></ul><ul><li>Be prepared to follow up fast; they expect it </li></ul>
    17. 17. Resources where you can learn more <ul><li>Activeadultmag.com </li></ul><ul><li>BestGuide-RetirementCommunities.com </li></ul><ul><li>Activeadultliving.com </li></ul><ul><li>Topretirements.com </li></ul><ul><li>Myactivecommunity.com </li></ul><ul><li>Newretirementcommunities.com </li></ul><ul><li>Retirementhousingonline.com </li></ul><ul><li>Senioroutlook.com (Forrent magazine) </li></ul>

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