Some new research in Australia by Charlie Nelson of Foreseechange further highlights the powerful market that Boomers and in particular mature women make up. It also shows that current approaches to reaching them need to change.
While the increase in the under 50s between 2001 and 2011 will be a mere 2%… in the over 50s it will be 32%. And the 55 – 64 year olds now account for 17.6% of discretionary – spending up from 13% in the 1990s. This group are also big users of the Internet.
They are no longer tech averse as they are now embracing technology being generally open an adaptable to new ideas. Many now online frequently… confidently booking travel, researching and buying products and services.
Another study by Evergreen and Perspective Research highlights the importance of marketing to women in an appropriate way. With women proving to be the financial powerhouse of the boomer brigade marketers need to get the message and the medium right .. as most women 50 plus are actively discouraged by the way they are portrayed now in advertising (no wonder advertising doesn’t work!!).
So we need to use the Net and make sure the Content is right and appropriate if we want to reach a very powerful market …rather than stick to the conventional thinking .. that says the 50 pluses dont use technology .. and women of a certain age should be portrayed as past it.
But sadly many fail to realise —- The Times They Are a’ Changing.
And if that’s not enough … I read in today’s Australian.
People in Aust with Broadband now spend more time on the Net than watching TV – 22 hrs vs. 14 hrs!! With half of those surveyed being 30 – 49 years old.. Many watching video online … but only if its free… very few prepared to pay a $5 a month subscription fee to watch.
So what have I learned today …. I am on the right track… hope you are too.
My company is currently engaged by a Real Estate Agency to assist them in rebranding their business – they want to be seen to be different but not too different. This has led us to look closely at many of their rivals and their culture.
The question I would like to raise here is in relation to the language of Real Estate. Quite clearly they do not write or speak to be read or understood by their buyers. At auctions the verbage and tone are to say the least boring and outdated. To be told that we are in leafy…; close to cosmopolitan; looking at a house with 3/4/5 bedrooms etc. is surely a waste of our time and theirs. Quite clearly those attending know where they are and why and from our research find this approach condescending.
And then the ads – fabulous, fantastic, enormous – are commonly used. I personally would like to read about the benefits of buying the property not endless exaggerated features taking up space that the vendor is paying for not the Agency!!
As a result of all of this and a brilliant book I have been reading The New Rules of PR and Marketing by David Meerman Scott I would like to compile a list of the most jargon-laden phrases and overused, irrelevant words used in Real Estate. In his book, Scott analysed Media Releases for technology companies and found words like next generation, robust, world class to be very widely used and very widely ignored by those that they were aimed at.
I suspect much the same is the case in Real Estate. They clearly don’t write to be understood by buyers, they don’t auction to impress buyers. Perhaps they aim to impress each other.
In our research the most common view expressed of Real Estate Agents is that they are too introspective and their biggest problem results from this – They Dont Know What They Dont Know!!
Look forward to your assistance in compiling The Real Estate Goobledygook Manifesto.