Posted in on February 1, 2016

Mature Marketing Links of the Week: Woman Power and Sr. Living Stats

It’s hard to believe that one month is already in the history books for 2016. I hope the New Year is treating you well, and hope you’ll explore the weekly mature marketing stories that had people talking and sharing. Have something to share? We’d love your comments.

MOST SHARED: Women rule…according to a recent MediaPost article. The piece highlighted insights from a Fona International report that explored the impact and influence of women in spending. Per the author, women control $20 trillion (yes, trillion) in spending annually — a total that is expected to rise to $30 trillion over the next 5 years.

According to the report:

  • 80% of all healthcare decisions are made by women (though 66% of women share that healthcare advertisers don’t understand them)
  • 92% of vacations are booked by women (travel and tourism — take note)

Some other key insights from the report:

“Women handle the bulk of purchasing decisions for everyday items like groceries and clothing, even for those items targeted at men. 50% of products marketed to men are actually purchased by women. In addition to being responsible for most of the day-to-day purchases, women are also heading up or influential in large ticket purchases like cars, homes and appliances.”

For those of us targeting Boomers and Seniors, these are important insights to keep in mind. Knowing who the decision makers are and what their aspirations are will help increase your appeal and move them quicker to that ultimate decision (or sale).

So we want to know, how do you tailor your messaging to appeal to this powerful segment? Be sure to share your thoughts in the comment section below.

MOST CLICKED: Growth. Opportunity. Innovation. This is how an article in Multi-Housing News described the future of the senior living industry in 2016 and beyond. According to author Russ Dey of Walker & Dunlop, the changing demographics and evolving needs of Boomers and Seniors are key factors driving the changes and opportunities that are to come.

Some influencing factors to watch in the coming year include:

  • The first rate increase by the Fed in the last 7 years, with more planned increases on the horizon
  • The Boomers of today will be the senior living residents of tomorrow (well, 10 years from now)
  • These future residents will be demanding services/residences that are very different from today’s senior living communities. These desires include larger common areas for socializing with friends and neighbors, more amenities and more dining options.

And when it comes to higher levels of care:

“Additionally, as the average age of residents continues to increase, the industry is faced with having to adapt their care delivery models, both from a programmatic and physical asset standpoint, in order to meet the higher acuity needs of these residents. Examples include providing updated facilities and programs for memory care, given that people are living longer and our understanding of Alzheimer’s and dementia continues to improve.”

WORTH REPEATING: Knowledge is power — and knowing not only who your target market is but what they desire (and demand) will take you far. Discover Kathy East’s 10 Tips for Making Your Community Pop when you read her recent blog post. You won’t regret it. Click here for the full post.

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