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Maximize Your Merchandising Investment in the 50+ Market
 Today’s boomers know what they want and won’t settle for just a good value.
Navigating the critical path of successfully marketing and selling to this consumer in today’s challenging and competitive marketplace demands not only high performance environments that elevate your client’s aspirations, they also demand other merchandising services and strategies that deliver quick results.
We all know that marketing to the 50+ buyer can be very rewarding. However, compared to other market segments, you need to be prepared early to invest a substantial amount of time and money and plan for a conservative sales volume prior to the completion of your merchandised models.
How can you develop a precise merchandising “plan of action” and utilize your team more effectively and cost efficiently?
Identify Each Township’s Unique Building Parameters
Each town’s pre-approval requirements vary. You must communicate these requirements to your development team now, not later, so that priorities can be set in place based on how soon you will need certain specifications reviewed and finalized in-house prior to township submission.
Avoid potentially cost-prohibitive changes that could ultimately slow down the process. Some townships permit you to make field changes as you build and some don’t, so plan ahead.
Exterior/Interior Analysis
Recognizing the need for ergonomic analysis of your entire product line, including the clubhouse, will be the first step to making a profitable first impression. Hire a professional merchandiser experienced with the boomer buyer who can partner with your architect at the onset of your project.
Today, it is common practice to have your merchandiser perform an initial analysis of the model you are showcasing. However, things often go awry during the building phase when modifications are made “in-house” without a fail-safe.
Your plan should include timely field change notification to all involved after scheduled site visits with the designer and construction personnel.
Community ‘Development’ Team
Schedule frequent comprehensive “team” meetings with all involved — the builder, architect, sales management, designers, marketing/advertising, landscaping and construction team.
Any small deviation to the original plan could alter the project’s budget and timeline. Keeping everyone in the “loop” maximizes each team member’s professional efficiency.
Design Center/Option Analysis
Can building a design center and offering the services of a professional design coordinator affect your bottom line? Yes! These buyers really mean it when they say, “I want what I want. Period!”
Hiring a merchandiser to help determine pre-packaged “standard” features when you are developing your standard/option list will increase your option exposure and bottom line. No matter what part of the country or what price range you are building in, a “standard features list” is always viewed as a positive.
However, if you are in an area that is experiencing a slowdown and high inventory of homes, such as the East Coast, making a decision to limit your “standard” features could ultimately affect sales. It’s important to research your competition and recognize what options are being offered as standard today compared to several months ago in order to strategize and differentiate yourself.
Have a more flexible attitude about change in today’s market. Your initial plan to market your community may not be the best one now, when you have a substantial amount of homes to sell.
Virtual Tours
How can you capture more leads and increase the closing ratio? There isn’t one particular marketing tool responsible for delivering optimal results, but rather a collaboration of several methods that have the necessary reach and frequency.
One method that has been proven to increase pre-construction exposure is to include the production of a virtual tour in your marketing budget. Research tells us that the majority of the 50+ market feels no urgency to buy and tends to wait for the models to be built prior to making a commitment.
Once you’ve made the decision to move forward with a virtual tour, hiring a professional merchandiser to partner with your production company will exceed your expectations as well as those of your buyers.
High-Performance Merchandising
Building spacious, elaborate “lifestyle” homes with all the bells and whistles on smaller lots and tighter budgets while still generating sales results is a constant challenge for builders today.
High-performance merchandising is the key to selling your community faster. Expect from your merchandiser a design “package” that is state-of-the-art, with special consideration to scale as well as detail.
Unlike other target markets, 50+ is not just purchasing for future resale or to bring the kids home permanently. They’re buying “lifestyle” space. When budgets are a concern, choose to showcase fewer models with little compromise vs. several models that lack the proper budget to be effective.
As you can see, there’s a lot to consider when creating homes for today’s discerning 50+ market. Now more than ever, great houses don’t just happen…they happen by design.
Catherine Daly is president of Medford, N.J.-based Design East, Inc., an award winning design and merchandising consulting firm servicing the building industry for more than 18 years. Daly is the 2006 president of the New Jersey Builders Association’s 50+ Housing Council. For more information, e-mail Daly, or call her at 609-654-9675.
 Save the Date for 2007 50+ Housing Symposium
Mark May 30-June 1, 2007 on your calendars to attend the 50+ Housing Symposium.
The seniors housing symposium is the premier educational and networking event for industry professionals who serve the burgeoning 50+ market.
Visit www.nahb.org/build4boomers for more information.
 Find Out What Boomers Want
“Boomers on the Horizon: Housing Preferences of the 55+ Market,” available through BuilderBooks.com, can help you better build and market homes to this age group.
Capitalize on the niches, needs and opportunities of this rapidly growing market by learning their preferences. To view or purchase this publication online, click here, or call 800-223-2665.
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