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Emotional Marketing, Quality of Life Key Success in Boomer Market
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Mark Goldstein
Impact Presentations Group | Quality of life, emotional marketing and a judicious use of technology are keys to success in the burgeoning boomer market, according to Mark Goldstein, founder of Impact Presentations Group and noted expert on the 50+ housing industry.
Goldstein will discuss what makes boomers tick during the International Builders’ Show in Orlando, Fla., when he gives his presentation, "Reinvention of the Building/Housing Market: Boomers and Beyond ― Second Edition."
Here is a sneak peek at some of his thoughts:
A Satisfied Mind: Get to Cautious Boomers With Quality of Life
Goldstein said there are several reasons why some Boomers have a cautionary feeling about spending money — maybe the foremost among them being their worries about maintaining their health and finances throughout their lifetimes.
These concerns, he said, lead to their next big question ― housing. For boomers, buying a house isn’t something they’re doing out of a sense of need, unlike first-time and move-up home buyers.
When boomers buy a home, he said, it’s an emotionally driven purchase. And this is where builders and developers need to get creative. With housing, builders need to cater to buyers’ emotional drivers and convince them that their new home purchase will enhance their lifestyle.
Forever Young: Emotional Marketing Is Key
Goldstein noted that one of the big drivers for boomers is that they consider themselves a unique generation that has always been in the limelight. Boomers have had a generational identity since they were children and were the first generation to be marketed to as a “generation.” Now that they’re entering their 60s, many fear leaving the limelight.
To reach them, Goldstein recommends that they take a page from Del Webb’s marketing to the current generation of retirees. Those retirees did not have to move to the Sun Belt, play golf or go out for “early bird specials” every night. Sun City living wasn’t a necessity for them, but emotional marketing worked.
That same lifestyle won’t work for boomers. The boomer market is more segmented. But marketing style and emotion will reach them. Emotional drivers are the key, he said.
Slow Train to Technology
Technology is not a high priority among boomers. Many don’t understand, want or need the latest technology in their homes. Goldstein, however, believes the building industry should get more proactive about technology because many boomers aren’t aware of what technology can do for their homes and lifestyles. Once builders make technology more readily available, he said, boomers will start thinking about it and wanting it.
At the Builders’ Show
Goldstein will present "Reinvention of the Building/Housing Market: Boomers and Beyond ― Second Edition" on Thursday, Jan. 12, from 11:00 a.m.-12:30 p.m. in West 304A-D, Level III at the Orange County Convention Center.
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