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Right now, many adults are using the Internet to research senior housing options for their parents. Tomorrow, these same adults will explore their own senior living choices.
Tomorrow’s seniors will be surfing into retirement with the help of the Internet. Are they finding you?
Of the 155 million people currently using the Internet in the United States, 17 percent are between the ages of 45 and 54, according to comScore Media Metrix, April 2004. Like most, they are using the Web to shop, manage their finances, keep in touch with friends and family, and gather information on an endless number of topics. With so much literally at their fingertips, today’s older adults will be the most technologically savvy—and informed—group ever to retire.
Right now, many adults are researching senior housing alternatives for their parents, and tomorrow, these same adults will explore their own senior living options. With more than 68 percent of baby boomers (ages 40 to 58) using the Internet frequently, chances are good that they are conducting this research online, The Pew Internet & American Life Project found. They are becoming more and more adept at online research, and rely heavily on the Internet for the information they need to make informed decisions.
Industry professionals should adapt their advertising and marketing strategies to the practices of today’s consumers and tomorrow’s retirees. The adults that will be moving into rental communities in 10 or more years are reviewing their future options as they assist their aging parents in their housing and care needs. Senior living marketing professionals should explore their options and make informed decisions on where to allocate their advertising and marketing dollars. Where are these dollars best spent?
Looking at the number of older adults that are online today, the answer is obvious. In April 2004 alone, more than 843 million minutes were spent on housing-related web sites. Adults ages 45 to 54 used 33 percent of these minutes. One year ago, only 18 percent of housing-related minutes online were used by the same age group, comScore Media Metrix reported in April 2003 and April 2004.
Consumers are going online to get information about available communities, neighborhoods, housing prices, retirement lifestyle options and more. Communities that do not provide information online and reach out to the more than 27 million baby boomers on the Internet are missing the boat, comScore Media Metrix said.
Many of the most successful managers of independent living communities are already taking advantage of the tremendous local and national reach that the Internet provides. Leading senior living management companies, such as Sunrise Senior Living, American Retirement Corp., Capital Senior Living, Renaissance Premier Senior Living, Senior Lifestyle Corp., Leisure Care, Kisco Senior Living, Brookdale Living Communities and Horizon Bay Senior Communities, have all been taking advantage of the unique marketing benefits of the Internet for years.
During the past five years, many trends have emerged from their presence on the Internet:
A steady increase in the number of adult children getting involved in the search for independent senior housing for their parents continues.
The Internet is one of the least expensive advertising media in terms of dollars spent per move-in, as compared to television, radio, newspaper, magazine and senior print directory advertising.
There continues to be an increase in the number of new residents from outside the primary market area, especially in retirement destination states like Florida, Texas and Arizona.
Consumers today are generally better informed, have more housing choices and are planning for future retirement needs.
The Internet as a lead source continues to grow every year, in some cases by as much as 60 percent year over year.
The American Seniors Housing Association (ASHA) said that on an annual basis, 1 million Americans will move into senior housing. According to ASHA, the average age of an independent living resident is 76, placing the baby boomer children in the driver’s seat of assisting with the housing search. By marketing a community in a way that reaches the adult children of prospective senior residents, the community will be positioned for success today and tomorrow when it comes time for those adult children to make their own retirement decisions.
Consider that in 2003, the National Association of Realtors® reported that 71 percent of homebuyers used the Internet at some point in their search. Now consider that nearly 70 million Americans retire in the next 10 years or so. How many will look for their next home online?
Given these recent statistics and online usage trends, marketing on the Internet is no longer an option but a requirement when developing a well-rounded advertising campaign for a senior community.
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