Archive for the ‘Demographics’ Category
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!
Single Women and Real Estate
Posted by Sibet B Freides in Demographics, Real Estate Trends on July 27th, 2011
In 2010, unmarried women made up 20 percent of all homebuyers, according to the National Association of Realtors, compared to 12 percent of single men.
What’s responsible for such a variance? Some experts believe it is a sense of belonging, or “nesting” that drives single women to purchase a home.
The new trend of female buyers is actually causing builders to add some extra features geared toward attracting them, such as gourmet kitchens, more security features, and yards that require little or no maintenance.
So, what is the single woman looking for in a home? Like any other consumer, they desire a great location, good price, and a property that’s in good condition. It is important to single women, however, that the previous owner had given the home some TLC.
Interestingly enough, these buyers are from all different age groups and phases of life. Some are just out of college, others are divorced, widowed, and still others are empty nesters.
As single women focus on real estate, more builders and sellers will respond by catering to the needs of this buying group. We all know it is important to women that they get exactly what they want 
Does Direct Mail Still Work?
Posted by Sibet B Freides in Demographics, Marketing on July 19th, 2011
I’m not talking about eBlasts or opt-in newsletters. I mean something in an envelope that actually arrives in your physical mailbox.
Print is dead. Direct mail is dead. Outdoor is dead.
Or are they?
If you are still estimating your ideal client’s demographics using old-school thought processes, then buying a generic list most likely won’t work. Why? Because you really don’t know the customer or anything about them.
How does direct mail still work in a digital age?
Know your audience. Match your direct mail piece to their current lifestyle, possessions and desires or needs. Once you’ve captured your audience, really stir up their emotions. You can employ old-school marketing to the new age of really knowing your buyer and what motivates them.
What medium are you using to get to know your clients or customers? Social Media? Focus groups? Do you hire consultants to profile your audience? Let us know by commenting on the blog below, or posting on our Facebook page!
What Do Millennials Want in a New Home?
Posted by Sibet B Freides in Demographics on June 14th, 2011
Millennials buying homes now are different from the group that will be entering the market in the next 15 years. Also known as Generation Y or the Echo Boomers, this group numbers 80.8 million, according to the U.S. Census Bureau. The Bureau actually estimates that Millennials could number 92.9 million by 2025.- Clean, simple design that maximizes square footage
- Low-maintenance materials and minimal lawn care
- Open floor plans that “flex” for multiple uses
- Small but usable outdoor spaces
- Ample storageUp-to-date home technology (full broadband or wireless connectivity,charging stations for electric cars, etc.)
- Sustainable materials and energy-efficient systems and appliances
- Walking distance to mass transit, shopping, dining
- Fitness centers
- Entertainment rooms
- Nearby parks
- Walking and biking paths
Will Boomers Reshape the Housing Market Once Again?
Posted by Sibet B Freides in Demographics, Real Estate Trends on May 26th, 2011
Baby Boomers used to be one of the largest targeted demographic groups in the housing industry. As their retirement funds diminished over the past few years, many were forced to work longer before considering a retirement home or community, which put them in a limbo of sorts with the future of the market.
There is a predicted Boomer comeback among builders, only this time the market and their needs will reflect a simpler product line. Land planners now have an opportunity to rethink community and home designs that were originally intended for that age group.
Retiring Boomers are still privy to developments restricted to older buyers, but they are seeking a greater variety of home styles than were offered during the housing boom.
The recession has resulted in less money to spend and brought about requests for less space than previously desired. Successful developments are actually scaling back home sizes by 200 to 400 feet.
With the possibility of younger Boomers continuing to work at least part time post-retirement developers should consider creating space for home offices in their floorplans.
Among the most popular amenities desired, walking trails and fitness centers are still number one on the list. Gated access and the feeling of security also play into the overall picture.
What other features do you think today’s Boomers are looking for? Do you think the 77+ million Boomers are a strong voice in market demands?
Chronology of the Generations
Posted by Sibet B Freides in Demographics on May 19th, 2011
There have been many conflicting attempts to classify the generations of the western world. The chronology through the early part of the Baby Boomer generation has been widely accepted; however it is harder to define the newer generations. Do we attach them to population dynamics or sociological theories?
The following is a list of generations as we know them:
The G.I. Generation includes the veterans who fought in World War II. They were born from around 1901 to 1924, coming of age during the Great Depression.
The Silent Generation was born from 1925 to 1945 and includes those who were too young to join the service during World War II. Many had fathers who served in World War I.
The Baby Boom Generation is the generation from about 1946 to approximately 1964, a time that was marked by an increase in birth rates. The Boomers are a demographic that changed society. Many grew up in a time of affluence. One of the features of Boomers was that they tended to think of themselves as a special generation, very different from those that had come before them. In the 1960s,
as the relatively large numbers of young people became teenagers and young adults, they definitely brought about succinct change in society.
Generation X is the generation defined as those born after the baby boom ended, born in the 1960s and 70s. The term is also popularly used to describe counterculture in general.
Generation Y is also known as the Millennials, Generation Next, Net Generation, or Echo Boomers. This term typically describes the group born at the start year of 1982, and end years around the turn of the millennium. While getting a bad rap and being dubbed as “The Entitlement” children, Gen Y is really an astounding bunch.
Generation Z, also known as Generation I or the Internet Generation. They were recently dubbed Generation @ in the “Digital Natives” by Marc Prensky. This is the newest and current group of digital wonders were born no earlier than the 1990s and are truly changing are structures and systems as we know them.
What do you think? Which generation will most likely pull us out of our current economic situation? Where are we headed as a society – are things breaking down to allow better conditions to be built, or simply breaking down? We’d love to hear your thoughts in our comments section below, or on our Facebook page!
