In our last blog entry, we talked about step 1 to outbound sales calls success for selling to seniors, creating the proper enviroment. Today, we’re going to talk about steps 2 and 3 for selling to the mature market. Again, today’s topics are nothing new. In fact, several different sales training programs utilize these very same techniques. Two sites I highly recommend every sales team visit is Traci Bild’s site and Selling and Persuasion Techniques, written by the incomparable Dr. Robert Caldini. Traci is one of the industry’s premier sales trainers and much of what we write about has been learned by applying her techniques from her book 7 Steps To Successful Selling and then making adjustments as we learn from our clients’ experiences.  In addition to joining the Tuesday Morning Sales Club, I recommend purchasing anything Traci publishes. She is a genius.  The secret is knowing how to apply these techniques to what you are doing each and every day … selling senior housing.

Step 2: Let Your Smile Shine Thru

For most retirees, the decision to call us did not come lightly. After all, moving to an active 55+ retirement community, continuing care retirement community (CCRC), assisted living facility, or skilled nursing home is a life altering decision. When people call us, they are scared. Usually, despite what they might be telling us, that call has been stirred by negative circumstances in their life (failing health, the death of a spouse, or loneliness). It’s our job as a sales team to lift them up and reassure them that they made a good decision to call us. The first task in accomplishing this sales goal is for our voice to exude courtesy, warmth, enthusiasm and knowledge.

If this is an incoming call, the correct way to answer is, “Hi! This is FIRST NAME. Thank you for calling COMMUNITY NAME! How can I help you?

If this is an outbound call, we’ll be taking a much different tack on our opening communication, but more on that later.

• Exude a warm, friendly attitude topped off with generous dose of enthusiasm and knowledge.

• Conveying energy and a can-do-attitude is the key to success. If we show excitement towards our jobs and the community we are selling, our customers can’t help but be excited. Remember, enthusiasm is contagious!

• Speak clearly, loudly and at a pace that they can comprehend (remember, like me, much of this audience has lost a good part of their hearing).

Step 3: Engagement

The key to senior housing sales success is placing outbound phone calls. Lots of them! At a minimum, you should be making 20 outbound calls a day (except on event days).

The top senior housing sales people in the country convert 1 of every two calls they place. How? By following a process. Remember, these people — the prospects —contacted us. They have a need.

Opening step for outbound calls

“Hi, is John in? (Pause, wait for “yes.”) Hi John, this is Tom Mann calling. (Pause, wait for “yes?”)

Most people say “Hi, is John Smith in? This is Tom Mann from the Heritage of Green Hills. How are you today?” And the prospect will say something like, “I’m fine” or “Hi, Tom, unfortunately, I can’t talk right now.” Why? Because they instantly recognize you as a sales person.

When we know we’re dealing with a salesperson our guard instantly goes up. In fact, most people HATE sales calls. Why? Well, first off, you are interrupting my day with your call. Second, I know you want my money. And my money is something I and our prospects guard with a zeal … and they are thinking, “Please, I have stuff to do. I don’t have time for this right now” and they might even be polite and talk with you a little, but they want to get off the phone. This conversation is destined for failure.

When you start a conversation this way, you might not even get to discuss the real reason you called…to talk about how your community can help them. So avoid that trap that pretty much ALL sales professionals get in to — which is naming your community. Instead, we would like you to use this very successful and proven opening step.

Here is how simple it is.

Ring, ring. “Hello is John in?” PAUSE, WAIT FOR REPLY

“Yes, this is he.”

“Hi John, this is Tom Mann calling.” And pause.
 
Polite and personalble, and I’m sure you are wondering “OK, when are we going to tell them who we are with?” And we will, just not yet. Because if you do, you can kiss the likelihood of this call being a success goodbye. This is a relationship business. If you open with this technique, you will form the personal connection.

I am not TR Mann Consulting, I’m Tom Mann, so I am never going to call someone up and go, “Hi, this is Tom Mann with TR Mann Consulting, how are you today?” If I did, that person KNOWS it’s a sales call. Instead, I’m going to say “Hi, John, this is Tom Mann calling. And they are going to go, “Hi Tom” if they know me. And if they don’t know me, they’ll reply, “Hi, Tom?” and then they’ll wait for me to tell them what the call is about. Or, they go, ”How can I help you?”

It’s very important that you address the prospect by first name only. Don’t say, “Hi, is Mr. John Smith in?” Yes, I know you were trained to be polite and that Miss Manners would like you to address people this way. Unfortunately, Miss Manners can’t help you sell. Even after we train people, this is a hard habit to break. I don’t even think sales people even realize they are doing it. But what friend do you know, that calls you up and asks, “Hi, is Tom Mann in?” So you’re going to go, “Hi, is John in?” Pause and wait for “yes.” “Hi John, this is Tom Mann calling.” Research shows us that the word “calling” instigates a “yes?” response … but you have to pause, so that they can say “yes?” The team at The Tuesday Morning Sales Club believes that communication is about two people engaging. You speak, I speak. In a poor sales environment the sales person typically does 85% of the talking. That is not communication. You must use your ears as well as your mouth. Learn to listen. So your new parameters are:

A. Address them by first name. If it’s a couple and you only have one of their first names, address them only by last name, “Hi, is Mr. Smith in?” NOT “Hi, Mr. John Smith.” (Note: when meeting in person, it’s OK to refer to them by Mr. or Mrs. and then their last name as is a common sign of respect in the South, ie., Mr. John.)

B. Then you are going to introduce yourself by both your first and last name and you are going to use that magical word “calling” directly after your name. Followed by a pause. When you pause, they are going to say “yes” 99% of the time. Now, don’t worry if you don’t get the “yes,” there are two other things they’ll do.

They’ll say “oh, Hi Tom, how are you?” When they do that that means they recognize you. That’s a positive and that’s what we want, a positive response.

The other thing they might do is pause.

“Hi, John, this is Tom Mann calling.” (If they don’t respond after a long pause,  start back up, “if you recall…” then you go on to step 4.

The other thing they might say is “who?” In that case, just restate your name. “Tom Mann.” They will respond with a, “yes?” This just means they can’t remember or place your name, so they are trying to figure out who you are. That’s a good thing, now instead of trying to figure out how to get off the phone, you have them engaged. They’re thinking … thinking … thinking… “Tom, who?” That is what we want. We want them engaged.

So your call should go like this:

“Hi, is John in?” (Pause)

“Yes, this is he.

“Hi John, this is Tom Mann calling.” (Pause)

 “Yes?”

“If you recall, you requested an information kit from the Heritage of Green Hills.” (Pause)

“Oh, yes I did.

You have now prepared your customer for step 4, which we’ll write about next time. In the meantime, share the passion you have for this incredible life-changing product! Also, I invite you to join our Tuesday Morning Sales Club.

Interesting side note: “Calling” is not the only magic word.  Dr. Caldini in his book The Principals of Influence, discusses the power of another magical word:

What single word increases compliance from 60% to 93%, simply by adding it to a request?

That single word is . . .  “because”

“This parallel form of human automaticity is aptly demonstrated in an experiment by social psychologist Ellen Langer and her co-workers (Langer, Blank, & Chanowitz, 1978). A well-known principle of human behavior says that when we ask someone to do us a favor we will be more successful if we provide a reason. People simply like to have reasons for what they do.

Langer demonstrated this unsurprising fact by asking a small favor or people waiting in line to use a library copying machine: “Excuse me, I have five pages. May I use the Xerox machine because I’m in a rush?” The effectiveness of this request plus-reasons was nearly total: 94 percent of those asked let her skip ahead of them in line.

Compare this success rate to the results when she make the request only: “Excuse me, I have five pages. May I use the Xerox machine?” Under those circumstances only 60 percent of those asked complied.

At first glance, it appears that the crucial difference between the two request was the additional information provided by the words because I’m in a rush. However, a third type of request tried by Langer showed that this was not the case.

It seems that it was not the whole series of words, but the first one, because, that made the difference. Instead of including a real reason for compliance, Langer’s third type of request used the word because and then, adding nothing new, merely restate the obvious: “Excuse me, I have five pages. May I use the Xerox machine because I have to make some copies?” The result was that once again nearly all (93 percent) agree, even though no real reason, no new information was added to justify their compliance.”

Additional note: I’ll be presenting the 10 Steps To Sales Success For Selling To Seniors  in full at the National Active Retirement Community (NARA) 11th Annual Business Conference in Columbia, SC October 20-22.

Selling to seniors? The success of a good senior housing sales team rests in their ability to build relationships over the phone. Why the phone? Because after a retiree requests information, they are WAITING for us to tell them what the next step is. In fact, the mature market needs us to help them break the inertia that comes from living in the same home 10, 20 or even 50 years.

Trust us, no one ever requests information on a active 55+ retirement community, CCRC, assisted living facility or skilled care because they are low on a little light reading. If they have requested a brochure (or retirement information kit as we like to call the brochure), they are in need!

And yet, despite the fact that the phone is the pipeline to sales success, we find it is often one of the most ignored areas of sales training.

Over the next several weeks, we are going to share with you The Tuesday Morning Sales Club’s 10 steps for phone sales success. This system was designed by the TR Mann Consulting team … a team with over 20 years of senior housing sales and marketing experience. They have helped sell over 20,000 homes with a settlement pace four times faster than the industry average.

As a member of The Tuesday Morning Sales Club, you’ll not only benefit from the TR Mann Consulting team’s vast experience, you’ll also benefit from the latest techniques and research that will cull for you from the rest of the senior housing industry.

Some of what we will share with you will be old hat, some of it will be brand new to you. In our experience, what separates the top 5% of sales people in the country is a practiced system that is followed religiously.

It is our belief that lack of training leads to lack of confidence and success on the phone … which in turn leads to lack of outbound calls. A confident, well trained sales person loves the phone.

So, let’s get started. The first step is the most obvious, but also one of the most overlooked.

(Write these steps on index card as they appear in the gray boxes, then place them in front of you during your calls, cycling through each as the call progresses.)

Step 1: Environment

Just like a good pilot does a walk through before taking off, you want to make sure that you environment is set up for success.

Never let the phone ring more than 3 times before someone picks up.

It’s important to answer as quickly as you can (always by 3rd ring). It shows the prospect that we are all about prompt service and that their call is important to us. Also, it is a proven fact that people will often hang up if they think they’re call is going to go to an answering machine. People HATE answering machines. NEVER, EVER, EVER, let a call go to an answering machine (unless it’s after hours). Answering quickly gets the call off to a good start!

Give full attention

• There are many distractions going on around us when we pick up the phone; be sure to give your full attention to the caller. Our callers are important to us, so let’s show them we care enough to give them the courtesy of our attention.

• Do not let your computer distract you during your conversation. While you are handling calls the only thing that should be on your computer screen is the customer relationship program and your appointment calendar. Nothing else.  (We estimate that an open email program knocks down your effectiveness by at least 25%).

• If you have an office door, keep it closed during your calls.

Nationally speaking, the average cost per lead for an independent retirement community is in excess of $500. Each time we don’t answer before 3 rings (or we let the WRONG person pick up the phone) we are tossing $500 in the office paper shredder.

Are you ready for step 2?

As many of you know, I speak at a lot of conferences on boomers, seniors, and the mature market, so I’m hard to impress but this is a conference that I can’t wait to attend (let alone speak at). America’s top professionals involved in building for, marketing to and serving people 50+ will be speaking at the National Active Retirement Community (NARA) 11th Annual Business Conference in Columbia, SC October 20-22 (http://www.retirementlivingnews.com/).

Think about it, you’ve got three major associations represented at this one event! The National Active Retirement Association with Dan Owens … the International Council on Active Aging’s (ICAA) Colin Milner … and the National Association of Homebuilders (NAHB)!

Professionals, academicians, real estate developers, marketers, sales people and other businesspeople seeking to capitalize on the unprecedented aging of America will attend. Topics will range from internet marketing to strategies to attract retirees to invest in your community to advice on how to successfully design, build and market 50+ housing.

Hearing Colin Milner speak is worth the price of admission alone. In addition to being a dynamic speaker, Colin is the founder of the ICAA, a spectacular association focused on promoting healthy aging. Today, Colin’s vision is shared by over 8,200 organizations connected to the ICAA network across the world.

In addition, I always like to be where the money is. John Randolph of Lancaster Pollard, one of the powerhouses in financing senior housing, will be speaking.

Dr. Joe Gribbin, head of the masters’ program at the Erickson School of Aging at the University of Maryland, will give a detailed presentation about the future of Social Security and Medicare.

I’ll be speaking (Tom Mann of TR Mann Consulting and The Tuesday Morning Sales Club) on “Selling to Boomers and Retirees – A Boot Camp on Getting to ‘Yes’ in a Challenging Market.” For those of you who don’t know me, here’s a short bio.

Throw in the honorable Andre Bauer, Lt. Governor, State of South Carolina and you have one powerful event!

Plus, NARA will be collaborating with the National Association of Homebuilders to offer special 55+ courses to builders in conjunction with the conference.

CONFERENCE SCHEDULE

Wednesday, October, 20 2010
(Open to the General Public)

8:15 – 8:45 a.m. Coffee/Juice/Networking 

8:45 – 9 a.m. Convene/Welcome/Recognition of Guests

9-10:15 a.m. Opening Speaker

10:15-10:30 a.m. Break

10:30-12 a.m. Taking a Sharp Eye at Social Security and Medicare
Dr. Joe Gribbin, College Park, MD, Dean, Masters’ Program
Erickson School of Aging, University of Maryland

Special Conference Seminars:

1-4 p.m.  Retirement Relocation Seminar (Separate Conference Event)
Trends and Tips on Luring Retirees to Your Community

Sponsors/Hosts: Thomas,Warren + Associates of
Phoenix, AZ, Retirement Lifestyles™ magazine and NARA.
Facilitators:  Gene Warren and Alan

1-4 p.m.  Selling to Boomers and Retirees (Separate Conference Event)
“A Boot Camp on Getting to ‘Yes’ in a Challenging Market”

Sponsors/Hosts: TR Mann & Associates, Retirement Lifestyles™ magazine and NARA.
Facilitator:  Tom Mann, co-founder of TR Mann Consulting, The Tuesday Morning Sales Club, and Mature Market Experts

6 – 8 p.m.  Welcoming Reception/Networking – (Dinner on your own)
Thursday, October 21, 2010

8:15 – 8:30 a.m. Coffee/Juice/Networking 8:30 a.m.  

8:30 – 8:40 a.m. Convene/Welcome/Recognition of Guests and Introductions

8:40-9:30 a.m. A Look at Our Aging Future

Colin Milner, Vancouver, British Columbia, Canada
CEO, International Council on Active Aging (ICAA)

9:30-10:30 a.m. Trends in Boomer Services, Retiree Marketing and 55+ Building

PANELISTS:

*Dick Ambrosius, South Dakota, NeoCorta

*Dave Segmiller, Charlotte, NC, Freeman White

10:30-10:40 a.m. Break

10:40-11:45 a.m. Serving a Growing and Powerful Market:  55+ Active Adults

David Reitz, Chicago, Ill, 55+ Active Adult Expert

11:45-12:45 p.m. Lunch at Columbia Convention Center
   Preparing for an Aging State (And World!)

The Honorable Andre Bauer, Lt. Governor, State of South Carolina

BREAKOUT SESSIONS:

1-2:30 p.m.  A Study of the 55+ Housing Market:
Designing, Building and Selling Active Adult Housing

PANELISTS:  

*Nancy Borum, ID Collaborative, Greensboro, NC

*Dan Horner, Tribute/True Homes, Charlotte, NC

*Jim Chapman, Jim Chapman Communities, Atlanta, GA

1-2:30 p.m.  Retiree Recruitment for Towns, Cities, States:
Recruiting Retirees through Tourism & Special Programs

PANELISTS:  

*Simon Hudson, Columbia, SC

*Miriam Atria, Capital City/Lake Murray Country

*Sherri Gothart-Barron, Director, GO TEXAN program, State of Texas

2:30 – 2:45 p.m.  Break

2:45-4 p.m.  Internet Strategies to the 55+ Consumer

2:45-4 p.m.  Getting New Projects Financed

 John Randolph, Atlanta, GA, Lancaster Pollard

6 – 8 p.m.  Reception/NARA Awards (Offsite:  Directions and transportation options to be provided; dinner on your own)
Friday, October 22, 2009

8:30-9:30 a.m.  Opening Speaker

9:30-10:45 a.m. Economic Development through Rural Retiree Attraction

John Cromartie, Washington, D.C., Senior Demographer, USDA

10:45-11:45 a.m. Speaker Roundtable/Final Thoughts on Marketing to “Boomers and Beyond”

11:45 a.m.  Door Prizes/ADJOURMENT

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Google Analytics and Analyzing Internet Data – Internet technology has become a tool that businesses selling to seniors can not afford to ignore. As boomers, seniors, and the mature market rely on it for everything from social networking and entertainment to price comparisons and online purchases, a side benefit is that enormous amounts of information becomes available for collection and analysis. Businesses and advertisers marketing to the baby boomer consumer could design their product and message based on these statistics. Last week’s 27th annual symposium of the University of Maryland’s Human-Computer Interaction Lab brought government researchers, business financial analysts and computer scientists together to debate how to organize and display this gold mine of information in a beneficial way. To learn more about how this endeavor may help your future business click here.

At a minimum, you owe it to yourself to look at your Google Analytics to see if you are focusing your website’s keywords on the right terms (this assumes that you’ve been paying for Google Adwords …. if you haven’t been, it is worth doing just to see what valuable information you can glean). And while you’re at it, plug your website’s url into www.websitegrader.comfor an eye-opening view of your website’s flaws.

How old would you be if you didn’t know how old you were?
-Satchel Paige

I was in the mall this past Saturday. Not a place I’m accustomed to investing any time in—especially on the weekend; but necessity dictated the excursion to the Mecca of shopping known as Clackamas Town Center. My wife had some to-dos (she’s very purposeful) and I had some general notion of what I was after. Like two infantry soldiers we synchronized our watches and agreed to return to a designated spot in 2 hours.

After 30 minutes of meandering through merchandise I thought: “Two hours…what was I thinking?” Generally a malaise seems to come over me as my energy level tends to be in an inverse relationship with the amount of time spent in malls.

Feeling like Margaret Mead, or a stranger in a strange land, I began to have a subtle shift in my thinking. A little voice seemed to be saying “observe.”

With a change in my interpretive filter I notice a reoccurring theme among the bustling masses of determined shoppers…Approaching from behind I’d see two “girlfriends” walking and engaged in either cell phone conversations or chatting. Most of these pairs were dressed much alike.

As I passed them and looked over I noticed these weren’t contemporaries at all, rather, one was the daughter and the other the mother! Now, twenty years ago there was no doubt who was who—but that has all changed.

Clicking

The futurist Faith Popcorn wrote about this phenomenon over a decade ago in her brilliant book, Clicking (1996). She called it “down-aging,” which is all about throwing out the rules and constraints that dictate how we should behave by certain points in our lives. Ms. Popcorn predicted the rejection of the cultural construction of age, and the potential for personal interpretation.

Once aware of down-aging in our culture, you begin to notice it everywhere as older adults time-shift life experiences and their looks. Popcorn describes elder-moms/elder dads who are standing in the check-out line at the grocer with pampers under one arm for the baby and attends under the other arm for themselves!

Fitness and athletics is another arena where down-aging is evident. The bad news is in sports rehab clinics all across the country clinicians are seeing more geri-athletes with sports related injuries—the good news is that clinicians are seeing more geri-athletes with sports related injuries.

I ran marathons with Mavis Lindgren who began her running career at age 62, and completed her first of 90 marathons at age 72! Go to any gym in the morning and you will be surrounded by gray hair and PE uniform-looking attire.

I once overheard a 20-something blonde beauty at the front desk of a well know fitness chain express her dismay that there were too many old people at the club. Seems she was afraid of the place becoming known as an “old gym.”

I laughed to myself thinking of her disconnect with her paycheck and who comes through the door and I envisioned her drowning in the gray tsunami…just off shore brewing.

It’s almost tired to even mention how marketers have embraced down-aging from the return of many of the classics like high-top black converse sneakers (I read an interview with Daryl Hall of Hall & Oats fame, he was wearing high-top black converse without shoe strings), to increased popularity of the anti-tech toys you played with as a child-like the Schwinn Classic Cruiser bicycle. Portland is deluged now with “fixed speed” bikes, a minimalist 2-wheeler that harkens back to the basics.

As Faith Popcorn notes:
Whatever the crisis-change mechanism at work here, the underlying feeling is “there’s got to be more.” And this search for ever-more leads to down-aging. Not forgetting about your age or railing against your age, but tossing away the old ideas of what chronological age is. For down-aging is fundamentally about changing expectations, dreams, desires, visions. It’s about a constant state of growing, of saying “yes” to life and all its possibilities (p. 275).

Hyper-Habituation (Think Mick Jagger)

I think it was Albert Einstein who said: “The definition of insanity is doing the same thing over and over and expecting different results.” A possible concern with down-aging is that it can be taken too far. As gerontologist HR Moody suggests, each era has its quality of experience not to be missed–neglected it could damage the soul. This is something to consider as you lace up your sneakers and jump on your cruiser…

THE 3 AGES:

1) Chronological age-Age on your birth certificate
2) Physiological age-Age of your biology and biomarkers
3) Psychological age-Age of how you think (Young or old)

See:
 Faith Popcorn’s Brain Reserve

Enjoy!

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – How To Get Free Advertising – The media campaigns you pay for could also be earning free market presence. If baby boomers are discussing your advertising on social media or watching parodies of it on Saturday Night Live or YouTube you could be reaping exponential rates of exposure from your initial investment. The catch, of course, is that is has to be thought provoking or entertaining enough to merit that consideration. And the icing on the cake – unpaid comments on social media are more credible than paid advertisements. So the next time you plan a marketing campaign to reach seniors, angle for a creative solution with the potential for going viral. TR Mann Consulting put a twist on this concept recently in a light hearted YouTube video featuring a leprechaun streaking through The Heritage of Green Hills retirement community, one of its clients. The local news channels featured the community on St. Patrick’s Day, resulting in free publicity in the local market. The leprechaun proceeded The Heritage’s reveal of its groundhog! To read more about earned exposure click here.

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Who Are You Marketing To? If your business is marketing consumer goods or services to a specific ethnic segment of the elderly population, the Administration on Aging’s website will be of interest to you. You can find various stats on the United States baby boomer population, such as the senior population projections for the Hispanic population over 60, 65 or 80. Breakdowns on the mature market’s racial makeup are provided by state. Statistical profiles for African Americans, American and Native Americans, Latinos, and Asians, provide numbers and percentages compared to the general population. Living arrangements, education and income levels, life expectancy, chronic medical conditions and access to health care are all accessible at this valuable website. To learn pertinent facts about your market click here. 

With the demographics of age and race in the US shifting exponentially, if you haven’t thought about how you’re going to address these new mature market opportunities, there is a good chance you’re missing out … which is why over a year ago, we added Elianne Ramos, an expert in Hispanic and Latin American markets to the team. Happy Cinco de Mayo!

Apple Inc.'s new iPad can make web browsing easier for aging eyes.

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Will the iPad Attract Seniors to Your Website? Maybe your business has nothing to do with computer technology, but everything to do with advertising to Baby Boomers. According to nielsenwire, the last five years has seen a huge growth in the number of seniors actively using the Internet (more than 55 percent, from 11.3 million active users in 2004 to 17.5 million in 2009).

So, what does Apple Inc.’s latest product, the iPad, have to do with you? If you are unfamiliar with this gadget, imagine a hybrid of a tablet computer, the iPod and select features of the iPhone (its not a phone).  It’s screen size is comparable to a small laptop. Yet, it only weighs 1.5 pounds and is a mere half inch thick. The large Multi-Touch screen is extremely easy to use and allows boomers to view vibrant, sharp web pages in their entirety. Making things very readable for senior eyes! Instead of using a cursor, just touch with a finger tip. It comes off the shelf with features that enable people who have vision impairment or are deaf or hard of hearing to use the iPad. So, those in the 65+ group that are currently put off by computers may soon be viewing your web site and internet advertising. Watch this Steve Jobs’ video, it’s as he’s talking directly to and for boomers.

How to capitalize on this new opportunity? Allen Moon suggests in his article, How the iPad Will Change the Way You Do Business, “Make sure your site has a blog that features regularly updated articles your target audience will find useful and entertaining. You can even create videos… include more interactive social media features on your site. These features are the most effective way to encourage your users to pursue an ongoing relationship with you and your other customers, and form a community around your business.” Marketing to seniors via the internet may become easier as the iPad’s popularity grows. Even online reviews, from sites such as sites like Yelp, Citysearch and Yahoo! Local, will be more accessible to boomers as they can easily read enlarged e-mail messages while on the go with this mobile device. A smart marketing plan will take these developments into account in order to take advantage of this technology in the next few years.

sources:
www.apple.com

Mature Market Experts: stats and news you can use on boomers, seniors and the mature market – Online Reviews Can Make or Break You – First there were websites, next came banner ads, now enter the powerful online review. Online review sites are gaining popularity and consumer influence. Many customers, including technically savvy baby boomers, review consumer goods and services such as restaurants and stores. For certain boomer products and services, it’s essential to be paying attention to your online reviews. Following your online reputation, and addressing any complaints, can be an incredible boon to your business and a more direct way to reach your market. In fact, some business owners report growth of more than fifty percent after positive reviews. But don’t be tempted to astroturf (falsely inputting rave reviews). Also, be sure to talk to your staff about the importance of ethics (I once had an over-ambitious intern decide to get creative on their own). Remember, at the end of the day, the best way to get good reviews is to provide a great product or service. The vast majority of your company’s time should be focused on providing greatness to your customers.

In this economy, who can afford to ignore such a powerful tool? To learn more. here’s a NY Times article about how to manage your online business reputation click here.

Read cautionary tale.

Click on the image below for an example of a customized newspaper (and yes, your electronic version which comes free with your printed newspaper, can be added to your website as well)

Benefits for You

• Builds trust and relationships by providing value, your paper becomes a trusted friend and advisor
• Allows you to thoroughly explain a complex product
• Ample room for testimonials and pictures
• Pipeline to your best prospects
• The mature market is an affluent market with large disposable income
• Uncluttered environment, with no competitive advertising
• Cost effective, cost efficient
• Unique ability to distribute coupons, and samples
• Opportunity to help shape editorial and layout, a true partnership!
• 8 pages of information for less than what it costs to send most 3-panel direct mail pieces
• Electronic version of your newspaper can be added to your website, improving your site’s SEO
• Electronic version of your newspaper can be emailed to tech savvy clients and partners

Exclusive Territories

Each customized newspaper will have a 20-mile exclusive territory and will be awarded on a first come first serve basis! Call today for details, 410-292-4333.

 (photo bbc.co.uk)

 It was formerly a terrifying view to me that I should one day be an old woman.
I now find that Nature has provided pleasure for every state.

-Mary Worley Montagu

In the ancient Western traditions dragons were often portrayed as frightening and destructive forces that the gods must battle with in the pursuit of good triumphing over evil. “Here there be dragons” is a phrase thought to be placed on maps by medieval English mapmakers depicting dangerous or unexplored territories past the edges of their known world.

The phrase might well be used to describe the unknown and “terrifying” territory of old age. Living past the age of 65 is a relativity recent phenomenon. Life expectancy for women at birth in 1900 was just 48.3 years (men = 46.3). Contrast that with one-in-five Americans being over the age of 65 by 2030 and out numbering teens two to one. Longevity, for the developed world, is the “here there be dragons” of the modern era. For World War II generation women the topography of old age is the landscape of daily life—for boomer women it’s still uncharted waters.

Do You Want to be an Old Woman?
I remember listening to the lungs of an elderly woman who was admitted for congestive heart failure (CHF). As I strategically placed my stethoscope on her chest I said: “Big breaths—Big breaths.” Her reply surprised me; in a quivering-Parkinson’s voice and a smile, she quipped: “They…use…to…be…”

This brings to mind a quote from Gypsy Rose Lee, in Barbara McDowell and Hana Umlauf, Woman’s Almanac (1977):
I’ve got everything I always had. Only it’s six inches lower.

I’ve always enjoyed telling that story because it speaks to a truth about aging. If we are fortunate enough to get old we’ll experience the physical changes which accompany age—and hopefully have a sense of humor about it.

Have you seen the recent ad from Kaiser Permanente: Do you want to be an old woman? This campaign is bold and brilliant in that it flies in the face of conventional wisdom in several important ways:
1) Marketers will tell you to shy away from using terms like “old” or “aging” when selling to boomers and beyond.
2) The traditional medical model has emphasized “sick-care” not “health-care.”

This ad turns conventional wisdom on its head and has the audacity of hope (thanks Mr. President) to ask the question straight out: Do you want to be an old woman? It’s NOT about anti-aging—in fact it’s just the opposite. Emphasizing prevention (get a mammogram) so you can live long enough to BECOME AN OLD WOMAN and experience all the unknown experiences (territories) awaiting you.

This is about “compressing morbidity” and extending health—not just extending life. And the message is delivered with the soulful sound-track of Michelle Shocked – When I Grow Up. This ad demonstrates a deeper understanding of human behavior and respects the maturing psyches of women who are living fully within their age.

When running marathons with Geri-Athlete Mavis Lindgren, I often overheard her say: “I’m having fun being an old lady,” and she meant it. Perhaps out in the uncharted edge waters of old age she had encountered a different kind of dragon, of the Asian tradition, that often symbolize power, happiness, good fortune and wealth—and had a message for those of us still waiting back on the shore…That there is pleasure at every state.

(Berks County, PA) — Several residents of The Heritage of Green Hills, a full-service retirement community for people 55+ in Berks County, claim to have seen what they believe is a leprechaun.

“I know it’s hard to believe, but several residents have reported seeing a leprechaun in various places throughout our community,” says The Heritage’s Executive Director, Chris Romick. Chris continues, “Some say they seen him run behind The Tavern’s bar, others report seeing him dive into the deep end of the all-season swimming pool with a pot of gold … others report that he has even gotten into their villas. I’ve asked security to interview residents and to keep an eye open for the little fellow.”

A Tradition Begins

Leprechauns are known to be talented musicians who play fiddle, tin whistles, the Irish Harp and various other Irish traditional instruments. Their wild music sessions at night, which are known as Ceili’s in Ireland, are said to attract hundreds of fellow leprechauns to dance, sing and drink.
           
“We know that leprechauns like music, dance, and good cheer, so we decided to have a Happy Hour Celebration at the Heritage’s Tavern on the eve of St. Patrick’s Day, in an effort to lore our little friend out. We plan on doing this every year until the leprechaun feels comfortable enough to trust us. Who knows, maybe the green hills of “Green Hills” reminded him of home,” smiles Chris.

Photo\Video Opportunity: Residents and staff of The Heritage will be available for interviews regarding the leprechaun at the Leprechaun Happy Hour on the eve of St. Patrick’s (Tuesday, March 16th). The Happy Hour begins at 3:30 pm. For more information call Laura Zartman at 484-269-5090.

About The Heritage of Green Hills (www.HeritageofGreenHills.com)

Ideally located on 78 wooded acres near Reading’s Flying Hills neighborhood, this full-service retirement community has been designed to allow active seniors, ages 55 and up, the freedom to bring their retirement plans to life. In addition to maintenance-free villas and apartment homes, everything the residents need is under one roof (unless they choose a villa which is just a short golf cart ride away). They can walk from their apartment home to the restaurants, the bank, the swimming pool … everything they need … all without having to put on a sweater.

This incredible maintenance-free lifestyle allows the residents of The Heritage time to do the important things in life … like play and volunteer!

One of my favorite movies scenes of all times is when middle-aged baby boomer Evelyn Couch (Kathy Bates in the movie Fried Green Tomatoes) is waiting patiently for a parking spot in a shopping center. Just as the spot becomes available, two young girls in a cute little car cut in front of her and steal her parking spot.

Evelyn Couch: “Hey! I was waiting for that spot!”
Rude Girl: “Face it, lady, we’re younger and faster! “

Then, Evelyn calmly and coolly reeves up her car and then repeatedly rams her car into the back of their tiny VW Bug, smiles and says, “Face it, girls: I’m older, and I have more insurance.”

As our population ages, and as the senior population continues to possess the lion’s share of our country’s disposable income, it becomes more and more apparent to me that the mature market rules — or can choose to rule as Kathy Bates’ character did.

Research from Harris Interactive says that retirees feel that Madison Avenue has forgotten they exist. The study, commissioned by the TV Land cable network, shows that two-thirds of adult TV viewers say that most television programming and advertising is targeted at people under 40.

In cities around the county, an eye-popping 80+ percent of mature market respondents over 40 claim they can’t find TV programming that portrays their lives. The sooner programming reflects seniors’ interests, the sooner they will buy the advertised products. OK, maybe they aren’t rushing out to buy Apple IPads yet, but the mature market still buys a ton of consumer products.

I think these PowerPoint slides accurately capture the insanity of this situation.

Truth be told, I could care less if the mature market buy doesn’t buy products from marketers who are asleep. But I’m smart enough to know that economics is very often the driving force behind our society. How much longer will society devalue the mature market’s contributions (current and future)? If we are going to climb out of this recession, we need to recognize both the economic and social value of the senior population.

Today's retirement communities like The Heritage of Green Hills defy the stereotypes of continuing care retirement communities.

 Mature Market Experts: more news and stats you can use on seniors, boomers and the mature market – Death of the “Continuing Care Retirement Community” – I am about to make myself some enemies. At TR Mann Consulting, we believe that marketing your retirement community as Continuing Care retirement community may be one of the worst decisions you could ever make. In fact, I would put as much distance between my retirement community and the term “continuing care retirement community” as possible. Why?

Semantics are important. They shape how your staff interacts with your clients. They also shape your customers’ opinion of your offering — and how they feel about themselves. Your job is to make them feel good about themselves in relation to your product.

Less than 3% of the age and income qualified population will ever move into a Continuing Care Retirement Community. “Why is there such a huge gap between the wonderful truth of what Continuing Care Retirement Communities (CCRCs) are . . . and what the general public perceives them to be?”

What we know:
Today’s modern-day continuing care retirement community is an extraordinary social invention. Residents of CCRCs often say, “I should have done this years ago.”  If you are over 70, there is no denying that a continuing care retirement community can help you avoid the trappings of social isolation that are hard-wired into your house in the suburbs. Anyone who has ever worked in the industry has seen the wonderful transformations that people make as they rediscover their social side.

What the public thinks:
What’s the number one objection retirement community sales people hear from prospects? “I’m just not ready for THIS  kind of living.” Most often, this statement is coming from a senior who is over the age of 80! Sadly, most people think “CCRCs” or “Lifecare Communities” are assisted living, nursing homes or old folks’ homes in disguise. What breaks my heart is that this perception prevents seniors from enjoying both the social and medical support that would dramatically improve their lives today. Worse yet, by waiting, your potential resident dramatically lowers their chances of getting into a truly “independent setting” in the future. The problem then compounds … moving when you HAVE TO, as opposed to moving by choice, significantly lowers the odds of successful transition.

What we know:
The retirement community industry has put its foot in its mouth. After all, what do you hear when someone says, “CONTINUING CARE?” When people hear “continuing care” they view it as inevitable that they will cycle through the full system . . . in their minds they think, that’s why they (the operators) call it “continuing care.”  We know that the vast majority of people will not need the higher levels of care available in continuing care retirement communities. Yes, it’s valuable if your retirement community offers these higher levels of care but you need to be very, very subtle about how you portray these services.

Who wouldn’t want to avoid expensive assisted living and nursing care?  More importantly, who wants to live in a nursing home? This huge perception gap between what today’s CCRC communities really are, and what the public thinks they are is keeping the vast majority of the people (96%+) away from an incredibly rich lifestyle.

Notes from the field:

• Modern-day Continuing Care Retirement Communities are awesome.

After working with retirement communities for over two decades, I say this for two reasons. One, seniors who move into a continuing care retirement community have more social interaction . . . more social interaction equals happier people. Research has shown that the active, social lifestyle found in modern-day continuing care retirement communities helps to reduce the risk of disease and disability. By the way, dining is a HUGE component of this – nutritious, balanced meals are very often not the norm for seniors living alone. Not to mention, the benefits of dining with friends.

Two, seniors who move into a CCRC are able to practice preventative medical care rather than reactive care. This, my friends, is a HUGE advantage! For example, would you rather improve your balance through exercise or spend months recovering from a broken hip? My parents moved into a CCRC over eight years ago (Charlestown Retirement Community) and it turned out to be one of the smartest moves they ever could have made.

• The terms “Continuing Care Retirement Community” and “Lifecare Retirement Community” should be banned from your sales person’s vocabulary.

Look carefully at these two terms: 
•  “Continuing Care Retirement Community” – hmmm, this is the place I go for “Continuous Care.”  Sounds a lot like “Skilled Nursing Care.” The industry throws around a confusing array of terms and acronyms, most of which are medically related, and none of which the general public understands. Mudding the situation even further are the distinctions between type A, B, and C continuing care retirement communities that few people in the industry, let alone the general public, understand. And all reinforcing negative perceptions.
• “LifeCare Retirement Community” – am I going to need care for the rest of my life? Do I need “Life Support?” Clearly, my neighbors will be sickly if I move in here. I can’t wait to share dinner with a guy in a wheelchair drooling (sorry, but it’s what the customer is thinking).

Sadly, the industry suffers from murky, medical sounding terms and definitions (in fact, in many cases, there are purposeful “misuses” of terminology designed to confuse the customer, ie. the assisted living facility that wants to sound like a CCRC). Here’s an example of what the today’s top 3 Google internet listings were for term “life care”:

LIFE EVENT MANAGEMENT SERVICES : LIFECARE
LifeCare.com is the nation’s premier provider of human resources work and family benefits. Our services include child care and adult care counseling, …
www.lifecare.com/ – 24k – Cached – Similar pages

LIFE CARE CENTERS – AMERICA’S NURSING HOMES
Life Care Centers of America provides skilled nursing homes, assisted living, long term care, retirement, home care, and Alzheimer’s centers to help you and …
www.lcca.com/ – 45k – Cached – Similar pages

LIFECARE HOSPITALS – LONG-TERM ACUTE CARE (LTAC) SERVICES AND …
LifeCare Hospitals, national healthcare service / hospitals for long-term acute care (LTAC).

None of these sound like a fun place to live.

Both “continuing care”  and “lifecare” are infused with medical, nursing home connotations that make the customer sound and feel weak. Put yourself in your customers’ shoes, do you want to look and sound weak in front of your friends and family?

• The industry has to move from a “nurse mentality” to a “service” mentality.  

And it can’t just be our words (think of the subtle message your community’s shuttle bus currently offers, if you’re a potential resident do you want to arrive on the scene in a bus that could easily be confused for your county’s senior center bus? Or better yet, one of Jerry’s kids? Wouldn’t you prefer a nice sedan or a trolley with no community labeling?

Now, I hear some of the more sophisticated marketers retort, “yes, but we don’t use this language in our marketing!” You don’t? Take a look at your contracts, the directories you’re advertising your retirement communities in, and the associations you belong to.

• Applying an industry label doesn’t help the customer feel better about your community or themselves.

Today’s retirement community offerings are not your father’s Oldsmobile.  By calling our retirement communities a CCRC we are putting the negatives first. As Scott Bedbury, the genius behind Nike and Starbucks once said, “Brands, like coffee beans, are highly sensitive sponges that absorb whatever is around them. And they don’t discriminate between the good, the bad, and the ugly.” There have been plenty of ugly CCRCs in the last 25 years, do you want that association?

Those of us in marketing have often said, “the customers’ house is our biggest competition.” The truth is that our biggest competition is the perceived safety that their house represents vs. the negative perceptions about CCRCs.  We need to distance ourselves from these negative perceptions by dropping the old labels and visuals queues (CCRC accreditation logos, shuttle buses, etc.), and then by associating fun, exciting visuals and descriptions. Today’s retirement communities ARE different.

Today’s sophisticated retiree is looking to protect their quality of life and their financial health. We need to eliminate the excuse, “I’m just not ready for THAT style of living.” It’s time to rethink our message and reach out for a new identity.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Baby Boomers Boom into Volunteerism - Volunteerism is on the rise in the US. Some site the realization of increased need in this difficult economy as their motivator. Others are unemployed and willing and able to contribute their time, perhaps instead of the money they might have given in the past. The president’s emphasis on community service is also credited with the drastic increase in volunteers. Numerous people have signed up through the website www.serve.gov. Many of these volunteers are boomers, and nonprofits are benefiting from their business and professional skills, as well as more traditional physical labor. They in turn, site satisfaction as a major reward for their altruistic efforts. To read more click here.

Baby Boomers and Volunteering

• Nearly a third of all boomers – comprising some 25.8 million people – volunteered for a formal organization in 2005. (U.S. Bureau of Labor Statistics)
• At 33.2%, the volunteer rate for baby boomers is the highest of any generational age group, and more than four percentage points above the national average of 28.8%. (U.S. Bureau of Labor Statistics)
• A typical boomer volunteer serves 51 hours a year, or approximately one hour a week. (U.S. Bureau of Labor Statistics)
• The percentage of retired baby boomers who volunteered increased steadily, from approximately 25% in 2002 to approximately 30% in 2004. (U.S. Bureau of Labor Statistics)
• Volunteering tends to peak at mid-life, around the current age of baby boomers, and then decline slightly; declining further among the oldest old (typically 75+).
• The biggest single inducement for baby boomers to volunteer is being asked by someone with whom one has an established relationship.
• Baby boomers are less likely than older age groups to volunteer out of a sense of duty or obligation and more likely to volunteer as part of a social interaction.
• Baby boomers are more likely to volunteer as a result of social, self development, self-esteem, or leisure-focused motivations. Episodic, familiar, community-based opportunities are also preferred.
• Four out of five boomers see work as playing a role in their retirement years, with only 20% anticipating retiring and not working at all (AARP):
• Of U.S. workers over 45, 69% plan to work in some capacity during retirement, with only 28% expecting not to work at all.
• More than 75% of workers 45+ feel that work is important to their self-esteem.

(Research taken from the 2004 “Reinventing Aging – Baby Boomers and Civic Engagement” report, Harvard School of Public Health & MetLife Foundation Initiative on Retirement and Civic Engagement, unless otherwise cited.) Source: Get Involved

If you own or operate a retirement community or health club, you owe it to your residents/patrons and yourself to serve as a spark for their spirit of volunteerism. By enabling them, you not only engage their body, mind and spirit … you also open an incredibly valuable public relations source for the community. Many retirees are searching for new meaning in their lives. After all, society tends to devalue you once you retire. What’s the first question someone asks you at a party? “So, who do you work for?” Well, these stories don’t appear in the paper by accident, they are often guided by talented PR people. And the effect? Seniors look at a story like this and go, “I want to be involved!” Very often their next thought is, “Man, I want to live at a place where people are doing cool stuff!”

Think about it this way, have you ever placed an inspirational story about one of your residents/health club members? PR is even more powerful than advertising. It comes across as an unsolicited recommendation. I guarantee you, the stories that you don’t yet know about your residents/members will amaze you. And even more importantly, getting to know your residents/members this deeply, so that you can discover these stories, will be even more important than the PR itself. Your members will feel a real connection with you. They know that they belong and are cared for. Plus, most people love being stars!

Hint: These stories are EASY to create, if you know how to create real relationships with the people you work with and the surrounding community. If you’d like some more “relational marketing” ideas, check out this PowerPoint presentation.

Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market – Marketing to Boomers Event - How to Build Your Business with the Mature Consumer – More than 15 experts on the Boomer market, including moi (Tom Mann of TR Mann Consulting), will share strategies for marketing to Boomers in a workshop at the East Side Marriott in Manhattan on May 14. The organizer of the workshop is Dr. Leslie M. Harris, a noted Boomer expert and the author of After Fifty: How the Baby Boom Will Redefine the Mature Market and After Sixty: Marketing to Baby Boomers Reaching Their Big Transition Years. The workshop is titled “Marketing to Boomer Men and Boomer Women: How to Build Your Business with the Mature Consumer.”

After conducting successful workshops in the Chicago and Washington, DC areas, Harris decided to organize a third workshop in New York to help marketers tap into the $7 trillion in personal wealth that is held collectively by people over the age of 50.

“Marketers continue to undervalue Boomer and beyond consumers and therefore allow these consumers to make their buying decisions with few marketing or advertising programs to gain their loyalty or favorable brand attitudes. This is a long-held and failing attitude toward these consumers,” Dr. Harris tells Selling to Seniors. “The Boomer and beyond generations are the most written-about age segment. The objective of this workshop is to try to point out that Boomers are big business. The presentations will clearly identify the importance of the 50-plus marketplace.”

Confirmed speakers for the workshop are as follows:

• Jerry Shereshewsky, CEO, Grandparents.com – luncheon speaker
• Kevin Lavery, managing director of Millennium Direct, UK, and president of the International Mature Marketing Network (IMMN) — keynote address
• Adriene Berg, CEO, Generation Bold, a business development and marketing consultancy
• Pat Burns, author of the best-selling book Grandparents Rock
• Helen Foster, Foster Strategy, Former Partner, JWT Mature Market Group
• Todd Harff, president, Creating Results, and a founding member of IMMN
• Steve Howard, author of 50 Low-Cost Ways to Acquire New Customers and Boomer Selling
• Paul E. Johnson, former account manager at TNS, who will report on his recently published article “Grandparenting: A New Image”
• Dr. Elaine Lyons and Ken Lyons, Perceptive Market Research, who will report on a national omnibus study of “Boomers and Beyond” that they recently conducted
• Jerry Maffia, a 30-year veteran of marketing research and promotion
• Kurt Medina, president of Medina Associates consultancy and co-author of the best-selling book 77 Truths About Marketing to the 50+ Consumer
• Tom Mann, managing partner, TR Mann Consulting, and founder of the Mature Market Experts (a LinkedIn networking group and blog for anyone who serves or sells to boomers, seniors, or the mature market) 

Special Panel Presentation

 Also, a panel presentation titled “Marketing to Boomer Women: How to Successfully Reach Them Using Social Media” will be moderated by Martin Diano, CEO of Boomer Authority and publisher of the Baby Boomer (Knowledge Center). The four panelists will be:

• Nancy Padberg, CEO, Navigate Boomer Media        • Marva Goldsmith, CEO, www.branding50.com
• Sandra Levitan, CEO and publisher, www.KalonWomen.com
• Dotsie Bregel, founder, National Association of Baby Boomer Women

Tom Mann

I love Manhattan, so I’m really looking forward to speaking at this workshop. I’m constantly amazed at all the wonderful people and meaningful business contacts I make when I attend these events. Usually, the most valuable contacts come from companies and people that hadn’t been on my radar prior to the event … but something magical happens when you get a bunch of people together, focused on a few important topics. By the way, I’ll be presenting on “Changing how we age: innovative trends in health care and commercial products.” In fact, if you have any ideas or products you think I should consider including in my presentation, let me know. I hope to see you there!

Early-Bird Deadline: March 1

Those who register for the workshop by March 1, the early-bird registration deadline, can attend the workshop for $175 per person or $275 for two attendees. In addition to breakfast and lunch, each attendee will receive a copy of Medina’s book 77 Truths About Marketing to the 50+ Consumer and a copy of one of Harris’s books – either After Fifty or After Sixty; both are described at http://www.beyondboomers.com/.

Additional Sponsorship Opportunities

A Sponsorship at the workshop of $500 gives you:
- Two (2) complimentary registrations to the workshop.
- Company logo and acknowledgment on Workshop Entrance Signage.
- Company logo on any Educational Workshop web page, highlighting sponsorship.
- Verbal acknowledgment during workshop made by the workshop organizers and speakers.

Don’t miss the opportunity to be a sponsor at this workshop.  It’s a great way to engage your peers, reach potential buyers, and show your commitment to the largest and wealthiest age cohort bar none. In addition to face-to-face interaction with the most highly qualified and knowledgeable people in the Boomer Market today, sponsorship helps you gain market leverage to an audience ready to embrace this market’s incredible revenue potential. If your company sells markets or promotes products or services directly to boomers and beyond, then your company should have a presence at this workshop! Trust me, this market … particularly older women, control the world’s wealth (to see some incredible statistics, check out this PowerPoint)! Please contact, Paul Johnson at pejconsulting@hotmail.com for additional sponsorship information.

 Info: For more information about the presentations or speakers, or to register, visit the website or contact workshop organizer Dr. Harris at mmrharris@aol.com; he will contact you with instructions about how to make your credit card payment.

PS   Here’s an earlier presentation I gave to T. Rowe Price that might be of interest to you on Inspiring the 65+ Market to Act.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Boomers 55+ Housing Wish List. Just what are baby boomers looking for in the real estate market? And what are they actually willing to pay for? According to a recent survey prepared by NAHB (National Association of Home Builders) and the MetLife Mature Market Institute, “55+ Housing: Builders, Buyers and Beyond,” here are the key findings :

• Where Are They Now? Roughly 9% of the respondents live in an active adult age-restricted community, 7% live in a community that is not age-restricted but where most buyers are 55 or older, and 28% live in an independent living community. However, many would consider other options.
• Stay or Go? About two-thirds of respondents (63%) plan to age in their current homes, while 12% plan to buy another home. About one-quarter (26%) are not sure.
• Suburban Life Preferred: The majority of respondents prefer a home in a suburb, with 32% wanting to live in close-in suburbs and 31% in outlying suburbs. In comparison, 28% prefer a rural community, while only 9% want to live in a central city.
• One-Level Living: Respondents overwhelmingly prefer a single-story home (79%) over a two-story home (15%) or a split-level home (7%).
• “Same-Sizing” the New Home: The median size of the respondents’ present home is 1,886 square feet, compared to the median 1,903 square feet they want in a new home. More than half of respondents (51%) prefer three bedrooms, while 18% want four or more bedrooms. About three-quarters prefer the master bedroom on the first floor.
• Downsize on the Price: The median price respondents expect to pay for their next home is $189,426, which is less than the median price of $198,119 paid by those respondents who bought a home within the last three years. This compares to their current home, which has an average market value of $267,401.
• Top Five Inside Features: The five features rated most important were: washer and dryer in the home/unit, storage space, windows that open easily, master bedroom on the first floor in a two-story home, and  easily usable climate control (thermostat).
• Green Is Good, but Not Key: About one-quarter of 55+ respondents do not care about the impact building a home has on the environment. While another 23% said they are concerned about the environment, it does not drive their decision to purchase. Only 12% said they would pay more for an environmentally friendly home. Respondents are willing to pay an average amount of $6,732 (median $4,000) if it would save $1,000 annually in utility costs.
• Top Five Green Features: Respondents cited energy-efficient appliances (79%), followed by solar heating (63%), water filtering systems (58%), allergen-free/chemical-free building materials (42%), and open space (37%).
• What’s Close By? Most respondents listed proximity to a shopping center as influencing their choice of a new community (57% noted it as Somewhat to Very Important), followed by proximity to a hospital/doctor’s office (55% rated it as Somewhat to Very Important).
• Online Is a Must: Technology features are important to 55+ consumers, with 83% of respondents rating high-speed Internet access as Somewhat to Very Important. Also earning high ratings were home security systems and structured wiring (a system of low-voltage wires designed to carry electronic signals throughout a home).
• How Buyers Are Paying for Home: Nearly half of the 55+ respondents (41%) prefer a 30-year fixed loan when purchasing a new home, followed by a 15-year fixed loan (38%). A small number (5%) preferred a reverse mortgage, some type of adjustable rate loan (5%), or an interest-only loan (3%).
• Less Maintenance, More Family Are Top Motivators: Builders were asked to indicate their 55+ customers’ motivations for relocating. Sixty-three percent of builders reported a desire for a maintenance-free lifestyle from their customers, 46% a desire to move closer to children/family, and 32% a desire for lower living costs.

If you are in the senior housing industry (whether you are building, selling or renting active 55+ retirement communities or continuing care retirement communities), this report is a must read.

About:

The MetLife Mature Market Institute®

Established in 1997, the Mature Market Institute (MMI) is MetLife’s research organization and a recognized thought leader on the multi-dimensional and multi-generational issues of aging and longevity. MMI’s groundbreaking research, gerontology expertise, national partnerships, and educational materials work to expand the knowledge and choices for those in, approaching, or caring for those in the mature market.

MMI supports MetLife’s long-standing commitment to identifying emerging issues and innovative solutions for the challenges of life. MetLife, a subsidiary of MetLife, Inc. (NYSE:MET), is a leading provider of insurance, employee benefits, and financial services with operations throughout the United States and the Latin American, European, and Asia Pacific Regions. For more information about the MetLife Mature Market Institute, please visit: www.MatureMarketInstitute.com.

Contact:
MetLife Mature Market Institute
57 Greens Farms Road
Westport, CT 06880
(203) 221-6580 • Fax (203) 454-5339
MatureMarketInstitute@MetLife.com

National Association of Home Builders

The National Association of Home Builders (NAHB) is a Washington, D.C.-based trade association representing more than 200,000 members involved in home building, remodeling, multi-family construction, property management, subcontracting, design, housing finance, building product manufacturing, and other aspects of residential and light commercial construction. Known as “the voice of the housing industry,” NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB’s builder members will construct about 80 percent of the new housing units projected for 2009.

Contact:
National Association of Home Builders
1201 15th Street, NW
Washington, DC 20005
(202) 266-8200, x0 • Fax (202) 266-8400
www.nahb.org

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – New Industry Helps Seniors Downsize and Relocate. Getting people past the fear of downsizing has long been a hurdle that those of us who sell retirement communities, assisted living, or nursing care have long had to deal with. There are over 78 million baby boomers, plus their seniors, who may need to move to more suitable housing in the future. With that comes an awful lot of hand-wringing and resistance, in addition to the physical challenges moving presents to an elderly population. Enter “move management” consultants, who do everything necessary; decorate the new residence to look like the old familiar one, reassure the client, and coordinate the actual movers. Here’s an excellent article by Thomas Heath of the Washington Post that captures some of the challenges of downsizing, click here.

PS    The TR Mann Consulting team … and the loose band of compatriots at Mature Market Experts would like to wish you a Happy New Year!

Sun's Streamway3

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Bike Market Adapts for Boomers. As baby boomers age they are searching for ways to stay healthy with excercise, save gas money and go green. Many are looking to purchase a new bike, but one that accommodates the needs of aging bodies. This new category has acquired the labels of “Lifestyle” or “Comfort.” I particularly like the stable Rayos Electric Tricycle for the mature market. To read about all the wonderful new adaptions available click here. 

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Are Baby Boomers Better Off Selling or Getting a Reverse Mortgage? AARP Magazine recently featured several articles about reverse mortgages and the aggressive, and sometimes misleading marketing of them to seniors. In addition to providing helpful guidelines when shopping for a reverse mortgage, one article cuts to the basic question. Before committing to a reverse mortgage, retired home owners should first weigh the pros and cons of selling versus aging in place. They may be surprised to find other alternatives, such as retirement communities, to be a more attractive alternative (to aging in place) in the long run. To read more click here. In addition, they may find alternative options of getting much needed capital like life settlements, a more attractive choice.

Mature Market Experts: More news and stats you can use on boomers, seniors and the mature market – Why Advertisers Spend More On Drugs That Lack Competition. A new report by The Congressional Budget Office uncovers an apparently contradictory trend in the marketing of brand name drugs. Advertisers spend much more on the marketing of drugs that hold a monopoly than on those with competitors. A medication that is unique will benefit from approximately twice the advertising dollars than a drug that has only one challenger will. Catherine Rampell in The New York Times explains the reasoning behind this anti intuitive behavior as twofold. Advertising in a crowded field delivers less results on the dollar. Secondly, by creating greater demand for a monopoly the drug company can drive up the price. For more information on this report click here.

Not only is a busted appendix painful, but it can also prove deadly. Every year 300 to 400 people die according to the Centers for Disease Control and Prevention. The doctor who performed the surgery, in an effort to comfort me, assured me that the appendix was worthless. Still . . . since the experience, I have often wondered what the purpose of this organ was.

Think about it logically. This God person seems pretty smart. After all the human body is an amazingly sophisticated machine. Why would he/she just throw in an extra part? Well, turns out some scientists think they have figured out the appendix’s job . . . to produce and protect good germs for your stomach. A career hypochondriac, I am now left to spend my remaining years worrying about who will fight the bad guys in my tummy.

They’ll never get my tonsils!

We tend to joke that as boomers and seniors age, all they talk about is their ailments. To me, it makes perfect sense. After all, your health IS your wealth! If your retirement community is not capitalizing on this natural “obsession” by marketing or advertising a “preventive” health care approach you are missing a major opportunity.  Many of the boomers and seniors are just now beginning to discover their own mortality. This STAGE event, usually triggered by tragedy or illness causes a deeper reflection of their lives. A good example is my appendix … the what “ifs” of life become more meaningful.

As I’ve preached before, stage NOT age is what drives people’s behavior. This is why; despite tons of money being thrown at it, Eons has not been overwhelmingly successful … while WebMD continues to be a raging success.

Who couldn't use a little sunshine in December?

Mitch Albom

Mitch Albom, author of Tuesdays with Morrie and one of my favorite sports reporters will be the keynote speaker. Mitch is an author, playwright, journalist and screenwriter who has written seven books, including the international bestseller Tuesdays with Morrie, the bestselling memoir of all time.  His first two novels, The Five People You Meet In Heaven and For One More Day, were instant number-one New York Times bestsellers. All three books were made into acclaimed TV films. Plus, Mitch oversees three charities in Detroit.

Also presenting will be my good friend and client, Maestro David Dworkin of Conductorcise. If you haven’t seen his program yet, I can tell you it’s worth the trip. Here’s a TV clip that gives you a good idea of the fun you’re in store for.

Not on Mitch’s or the Maestro’s level … I’ll be (Tom Mann, Managing Partner of TR Mann Consulting and co-founder of Mature Market Experts) presenting “Becoming A Wellness Sherpa” which is all about relational marketing and becoming a trusted advisor. Here’s an article on the topic if you’d like a preview.

I hope I see you by the pool.

Mature Market Experts: more news and stats you can use on boomers, seniors and the mature market – Aging with Style Means a New Luxury Market. According to an ASID (The American Society of Interior Designers) survey of U.S. homeowners, 82% plan to stay in their own home for as long as possible, even if outside assistance and care is required. The survey also found that 52% of American baby boomer homeowners age 45 plus are interested in learning more about how they can age in place – with style not sacrificed for function. Designers see this as an opportunity to develop a new niche market of high end products for mature market homes. For example, the simple grab bar has been redesigned from a purely utilitarian object to something luxurious. So rather than detracting from the look of the home, it actually enhances it. Other modifications being brought into mature market homes include raising the toilet height, lever door knobs, hands-free faucets, lower cabinet heights, and nonslip rugs. To read more click here.