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Generational Real Estate Marketing

Generational marketing is largely becoming a collegiate major unto itself, but it isn’t necessarily quite as in-depth as we like to thing it is at times. The fact of the matter is that we simply can’t market to Baby Boomers the same way we market to Millennials or Generation X or Y.

And while there may very well be marketing tactics that span across generations and work successfully, each generation has its own way to be addressed. Here are some ways to market to some of real estate’s broadest generations.

Baby Boomers

Baby Boomers built America in the sense that they were born and reared during the “American Dream” age where perfectly manicured lawns and shiny, new Chevrolet sedans adorned beautiful Victorian homes. But Baby Boomers are the traditionalists.

They require more personal attention, guerilla marketing tactics still work on them, and digital advertising is likely to get muddled and/or confused through their perception. When selling and marketing to Baby Boomers, consider the more traditional approaches: sales calls, newspaper ads, and clever digital marketing to attract them into your market.

Generation X

Generation X bridges the gap between the Baby Boomers and the up-and-coming Millennials. Gen Xers are getting into the prime of their careers and are starting to handle some of life’s natural challenges: career choices and child rearing while looking into an uncertain future with regards to retirement, job stability, and family.

Generation X is one of self-proclaimed savers, but that doesn’t mean that they are spend-thrifty or ready to buy at the drop of a hat. Gen Xers, with regards to marketing, fall somewhere between old school tactics and new-age digitization. A highly tech-savvy generation, this group receives online marketing well as well as (drum roll, please) mailers according to a recent study.

You can count on email marketing and social media as primary means to reach Generation X in a busy real estate and retail market while still depending on some old staples such as print mailers and real estate brochures.

Millennials

Ah! The coup de grace of generation marketing, the final frontier: Millennials. Millennials are slowly infiltrating the workforce (and taking over, we might add) by moving into positions previously held by Baby Boomers. Most Millennials started their careers just beyond the housing crash. As a result, this is the largest generation of entrepreneurs and self-employed individuals of any generation.

Millennials can be fickle, but one thing we know is that they respond to social media and won’t be afraid to write a review based on personal experience. These two aspects of Millennials alone make marketing to them somewhat challenging. They rely on online reviews and will make many purchase decisions based on that data alone. Additionally, they are far more likely to participate on social media incentives.

The trick to Millennials is creativity in online marketing. Crafty, cunning, and thought-provoking marketing is the way to get into the hearts of Millennials, but one old school tactic that is often overlooked is radio. 93% of Millennials reportedly listen to the radio for 11 or more hours per week! Podcasts are also a popular sales avenue for sales-driven agents to reach millennials as well.

Financing the Generations

No matter the generation, getting into a home will require some thought and the right financing. Tidewater Mortgage Services can help bridge any generational gap and get your clients the financing they need. One call to Tidewater can see your prospective clients pre-qualified the same day they call.

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