Archive for the ‘Demographics’ Category
How Are Builders Catering to the Single Woman Buyer?
Posted by Sibet B Freides in Demographics on December 15th, 2011
Single women continue to be a major force in the real estate market, according to MSNBC and the National Association of Realtors. The demographic accounted for 20 percent of all homebuyers in the past year, whereas single men only made up 12 percent of the total.
Realtors and builders are taking notice of this trend. In new home construction, builders are putting in extras such as security features, gourmet kitchens and yards with little to no maintenance required.
What else is important to this demographic?
Safety. Industry experts also say a building’s proximity to public transit and parking factor into this equation. Late working professional women would take notice of a parking garage and controlled building entrance.
Socializing opportunities and luxury touches. Events, areas for entertaining, spa, massage room and fitness centers with all the bells and whistles are a huge draw for the savvy woman buyer.
Respect. There’s unfortunately still a perception that single women are gullible—that they can be suckered by a wily contractor. In today’s market, that’s an unfair characterization: they’re smart. They’ve done their research. They probably know more about a building’s floorplans than the salesperson.
When women buy for themselves, they are excited about turning the home into something that reflects them and who they are—this is a continuing trend that should not be ignored by builders and developers.
Baby Boomers Finally Contributing to Online Sales
Posted by Sibet B Freides in Demographics on November 17th, 2011
Baby Boomers have finally become more comfortable with technology; they have now started spending a great deal of money online. According to Mediapost, more than 70% of consumers ages 45 to 55 made an online purchase in the past three months.
Consumers ages 56 to 66 spend the most online among all the generations – more than double the amount of what is spent by those ages 18 to 22.
The average online consumer owns two connected devices. Not surprisingly, the ability to go mobile will fuel the trend, as 78% of those adults going online daily.
Nearly all online U.S. adults own a mobile phone, more than one-third own a smartphone, and close to half log on to the Internet through it at least monthly. 67% of these consumers are considered the most sophisticated by a Forrester study because they rely on their phones for email, games, and checking news, sports and weather. They also use their phone to send text messages and watch videos.
The study also suggests that consuming other media has become popular online. 74% of consumers watch TV online at least once weekly.
It is yet to be measured how Boomers are responding to online ads and where they are most reachable. What do you think from your experience? Are Boomers clicking online banner ads, pay-per-click, review sites? What do you think is the best way to reach them online? Share by commenting below or posting on our Facebook page!
What Luxury Agents Do for That Sale
Posted by Sibet B Freides in Demographics, Real Estate Economics, Real Estate Sales, Real Estate Trends on November 8th, 2011
According to the LA Times, real estate agents listing an $8-million home in Santa Monica wanted to ensure a good crowd for an open house last month, so they hired a stilt walker, shirtless male jugglers and a contortionist who floated in the pool, encased in a clear plastic bubble.
Nearby, an agent stationed models in front of a new condominium project. Wearing velour robes and flip-flops, the young men and women served free drinks to promote the cocktail hour lifestyle at the development.
Still another went all the way to Spain to drum up business.
When marketing a multimillion-dollar mansion, a plate of cookies and free coffee simply won’t do in today’s new market. Agents have been outdoing themselves to help get through this market.
Aerial Showgirls, Thai foot massages, and Botox treatments… is all this really necessary? Although agents are putting up thousands of dollars for these remarkable parties, they are definitely seeing up to three times the traffic than they would with a simple display ad or a listing on MLS and some generic signage.
Agents are treating buyers seeking homes in the $2-million and more range like royalty, including facilitating their home tour starting with a red carpet.
Sometimes, it can be as simple as putting a new spin on an old standby, such as staging.
A recent agent recruited a well-known interior designer to outfit the home with vintage and contemporary furniture and art, which was then offered for sale at the open house.
He told the LA times that the cost was less than hiring a traditional staging company, the event drew about 200 people and the property received multiple offers, selling at nearly full price within a week of coming on the market.
To get foot traffic, a condo agent put a new “spin” on a sign-spinner by hiring models to hand out fruit drinks on the sidewalk… and beer, wine and mimosas to adults that came in to see the model units. The agent spent about $5,000 but sold four units on the weekend following Thanksgiving.
What’s the bottom line? You may be afraid to spend the money and think outside the box, but this is the time to go above and beyond and really draw attention to your properties. While we don’t think you should pull out all the stops and hire a circus, there are some worthwhile ideas in the shock and awe mindset that might just get you results.
How Do You Get More Social Mentions?
Posted by Sibet B Freides in Demographics, Social Media on September 28th, 2011
When you write a great blog post, are you disappointed to see only a few comments? Do you get only a handful of retweets when you put it on Twitter? Are people on Facebook even acknowledging your post?
An interesting statistic:
Web site pages displaying the Twitter share button get seven times the social media mentions compared with those that do not, according to a study released by The BrightEdge SocialShare Analysis report.
This company randomly selected 4 million tweets, determining if they carried shared information and then analyzing whether the content was shared using tools, buttons, links or other methods. It was quickly identified that buttons drive mentions through social media.
Twitter’s not the only proof: Facebook, LinkedIn and Google+ also gained increases in mentions. However, the social share space is still dominated by the two biggest players. About 50.3% of the world’s largest sites have a “Like” button that links to their Facebook pages.
Google+ only sits on about 8.1%, and LinkedIn remains unchanged at 4.0% according to BrightEdge.
In general, the social share buttons work because they make it very easy for people to share your content in one click. That’s important in today’s instant gratification digital world. This statistic doesn’t necessarily span across all generations, however; although 32% of boomers said they use a social networking site on a typical day, they are still reluctant to click on the Facebook “Like” or Twitter share buttons, especially women aged 50 and up.
What about you? Do you share a great blog post using social share buttons? Has your social mention score risen since you put them on your own website?
Affluents Right at Home in the Digital World
Posted by Sibet B Freides in Demographics, Marketing on September 27th, 2011
In a recent survey about lifestyles and attitudes, 79% of affluents shared that in the last decade their lives have become quite intertwined with technology, including digital advertising. Almost 60% said they took action as a result of seeing a digital ad, including clicking, searching for more information, buying the product online, or going to a retail store to purchase.
Agencies have traditionally felt this group was the hardest to reach through any media, especially TV and radio. However, they are actually the heaviest users of digital media, spending at least six hours more a week than the general population.
What does this mean?
The paradigm has shifted; you can expect affluents to respond to digital advertising and even share information about them so they can have a more personal online experience.
They still seek clever and attractive ads that entertain, but affluents look for balance and relevancy, as long as it is on their terms and they are not repeatedly interrupted with ads that demand immediate action.
Boomers: Is the Housing Market’s Cavalry Here?
Posted by Sibet B Freides in Demographics, Real Estate Economics, Real Estate Trends on September 22nd, 2011
Being able to easily meet today’s required 20 percent down payment, boomers should be ready and able to bail this generation out of the housing muddle. So why is this not happening?
Unfortunately, the boomers are too busy taking care of the Gen-Xers that CAN’T qualify for a mortgage in today’s restrictive market.
I still think there’s hope for the market to be recovered by this steadfast generation. For one, they did not purchase their first home during the recent housing boom, so this means they will have a larger home equity cushion and the ability to secure a reverse mortgage.
They are also looking for a different lifestyle and product and are ready to buy. According to the NAHB, specifically appealing to boomers are single-story homes and with all living space on one level.
The 55+ demographic actually account for almost a quarter of all new custom-home purchases, so builders should be catering to this group of middle agers. Unfortunately, homebuilders are contending with a huge overhang of existing homes on the market, and having a harder time getting banks to sign off on construction loans.
Do you think the boomer generation will lead the housing revival? We’ve already seen signs, do you think it’s just a matter of when? Let us know by commenting below or posting on our Facebook page!
8 Things You Must Know About Your Perfect Client
Posted by Sibet B Freides in Demographics, Marketing, Social Media on September 7th, 2011
Do you want to really reach your audience with your marketing message? It doesn’t matter if you are using
traditional print or new media campaigns, if you don’t know who your buyer is you won’t get anywhere. Make sure these questions have CLEAR and SPECIFIC answer:
Who is my ideal client?
What is their demographic profile? (age, location, income, etc.)
What do my perfect clients believe?
What do they like?
What are they worried about?
What is their biggest pain or source of discomfort right now?
What do they want from me online?
What amazing benefit will I give my client to make it worth their time to care about me and my product or service?
It is still tempting to focus on what you want from your customers, much like you did when the market demanded experience, awards, and accreditation. Today you’re setting yourself up for failure if you focus on yourself first.
You do something that people need or your business goes away.
Do you need help defining your perfect client and answering these questions for your business? We can help!
Gen Xers are Online the Most
Posted by Sibet B Freides in Demographics, Marketing, Real Estate Trends on September 1st, 2011
It’s not the Millennials that are the most savvy in the digital world. Generation X—the first generation to grow up with PCs—are the ones plugged in the most. These 34- to 45-year-old consumers are heavy users of digital tools, but they also watch more TV than any other age segment.
A new eMarketer report, “Gen X: Demographic Profile and Marketing Approaches” indicates that this group is as comfortable with digital as with traditional media. “To effectively engage with Gen X, brands need a strategy that incorporates multiple channels—including mobile, social and online video—with authentic, relevant messaging,” the report notes.
Since this demographic actively loves TV along with their digital conveniences, video marketing is a smart choice to reach them.
eMarketer forecasts that 74.2.% of Gen X internet users will watch online video at least monthly in 2011, and that percentage is expected to grow to 80% by 2015.
It’s their shopping habits that speak the loudest of this generation. They are more likely than the general population to visit online retail stores mobile retail sites.
Some common characteristics of Gen X
Generation X came of age in an era of two-income families and rising divorce rates. Women joined the workforce in large numbers, spawning an age of “latch-key” children. As a result, Generation X is independent, resourceful and self-sufficient.
The first generation to grow up with computers, Gen Xers are comfortable using smartphones, e-mail, laptops, GPS, iPads, and more.
Many Gen Xers lived through tough economic times in the 1980s and saw their workaholic parents lose hard-earned positions. Because of this, they are less committed to one employer and more willing to change jobs to get ahead than previous generations. They adapt well to change and are tolerant of alternative lifestyles.
Tell us how you market to this audience – do you employ different strategies or use the same message and discipline for all your potential clients?
Do I Really Have to Consider Mobile Marketing?
Posted by Sibet B Freides in Demographics, Marketing, Social Media on August 18th, 2011
Maybe you’re still trying to figure out this Twitter thing and you simply can’t imagine why you should consider yet another “fad”. Guess what:
Mobile marketing is no longer considered “out there”, it is here and still growing. If you’re not marketing your business to mobile users, you’re missing out on traffic. Remember that SmartPhones go wherever your prospective client or customer goes – ALWAYS!
How do you take advantage of this?
Get a Mobile Website
People do not want to go to your website and have to scroll forever to see a full-sized web page on their screen. Make sure you have an alternative mobile site that is simple and smart phone compatible. WordPress makes this very easy with a simple plugin. You have no excuse J
Consider Using QR Codes
The most important question to answer about creating QR codes is, “How will it make my customers’ lives easier?” Think about not only the useful information that needs to appear when people scan them but why someone would be motivated to use it. Does it save time? Paper? Hassle? Is it tied to a coupon or deal?
Create an App
Mobile users like apps better than web browsing because apps are dedicated to a specific function, and are often more efficient than web browsing. Make sure that your mobile app has a specific, useful function and is not just an abbreviated version of your full site.
What could clients or customers easily do with your app that they can’t efficiently do on your website? Is it easy to share information? Can you use location-based information to entice someone into your business when they are near?
Mobile Ads
Google Adwords has a program that targets mobile customers. It’s highly customizable, and although it’s a Pay Per Click option, there are new options to pay for only the calls generated by your ad. What’s next?
What about you? How are you reaching your mobile customers?
Who’s Using Social Media?
Posted by Sibet B Freides in Demographics, Social Media on August 16th, 2011
In 2011, over 63% of Internet users in the United States will use social networks on a 
regular basis, amounting to nearly 148 million people. Marketers and media companies alike now know that Social media is here to stay, and in order to reach their audience they must have a presence on social networks.
Who are they?
Seniors
The 2010 US Census counted 40 million seniors in the US. Traditional media continues to be the preferred way to receive message among seniors, but the Internet is quickly infiltrating their world. Social media usage among seniors is projected to be around 56% by 2015.
Moms Who Blog
Blogger moms have become important marketing partners and powerful allies. They spread the word about products and services to millions of other moms who go online looking for advice and recommendations. In total, there are 3.9 million women with children under 18 who write blogs, covering a wide variety of subjects, including parenting, couponing, travel, special needs and organic living.
Millennials
Millennials are the first generation to be raised with online media. These digital natives quickly adopt new technologies and adapt them to fit their lifestyles. Millennials value experiences and engagement with brands, and will be evangelists for those who do engage within their social circles.
Do you know how to reach these groups effectively and how to customize your message for them? If you’re struggling with your social networking reach, let Idea Associates help you!
