Item: 66% of first-time home buyers are Millennials (1).
That percentage is going to grow. Are you?
The Nintendo Coup
Years ago, I read a cute story. Nintendo was donating game consoles to senior centers. This wasn’t merely charity, it was a big bet.
The marketers and Nintendo recognized that a demographic can redefine itself. Seniors were healthier, more active, and more adventurous than ever before. Nintendo took a gamble that many of them would enjoy activities that are usually associated with teenagers.
They gave away free Wii to senior centers. Soon everyone there wanted to play, and the senior centers had to buy more. (2)
Today, nearly a fourth of all gamers are over the age of 50. (3) And if you think they’re just buying games as presents for their grandkids, guess again. Most of them play the games themselves.
Meet Your Newest Clients
The point of this story is to challenge you. How are today’s first-time home buyers different than they were 10 years ago? What new or different tactics will you use to reach them?
You’ve got niche markets you already work with. Ask yourself how these markets are changing, and be the first to change with them.
Better yet, think of the niches and demographics who, according to conventional wisdom, would never have a reason to do business with you. Then think of how today’s dynamic world can help you defy conventional wisdom.
A rather crude analogy: Maybe 10 years ago, you couldn’t sell ice to Eskimos. But now, with global warming, an ice vendor has a way in.
You could do what Nintendo did! Get creative and find out how to do what none of your competitors would dare (or even think about…).
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