February 21, 2019 | Article | by REQ Marketing | Advertising
Why the Homeowner Demographic Could Be the Most Valuable
The homeowner demographic is an interesting one to consider when you think of it comparatively to other consumer groups. Many times categories are broken down by age, gender, and region among others. With the homeowner demographic it’s broken down by one simple question: Are you a homeowner?
If the answer is yes, then advertisers can assume this demographic is interested in home insurance, lawn care maintenance, furniture, and energy savings. As of 2018’s Q3, the U.S. homeownership rate exceeded 64%, a majority. By understanding a consumer’s need beyond what can be an oversimplified categorization will allow you to create messaging that makes a more significant impact and delivers a better value.
Everything that goes into maintaining a home is a subcategory to the homeowner demographic and can prove helpful to these encompassing brands. When creating relationships with new customers that fall into this demographic, think through both their immediate and ongoing needs to strengthen your marketing efforts.
Real Estate Marketing and Homeowner Insurance
When someone buys a new home, insurance is one of the top to-dos on the list of things needed. Depending on the region, this might also include fire insurance or earthquake protection. Additionally, a probability of many homeowners is that they also own at least one pet. Insurance brands bundle these protection plans to ensure a property and all associated assets are covered when marketing to the homeowner demographic.
When creating ads that speak to insurance needs, create empathy in the copy and relatable imagery in the ads or social media posts. Don’t approach it with a one-size-fits-all solution. The needs of home buyers in Oklahoma are likely different from those in California. Start with the initial homeowner question and go from there to learn more about your customers’ specific and growing needs.
Insurance is not considered a “fun” brand compared to many other areas of homeownership but it is a necessity and can still be customized. Brands can stand out if they give their messaging a little bit of personality.
Home Improvement Brands and DIY Projects
Some homeowners will buy a property as move-in ready, but many decide to take on at-home projects like adding on a new deck or repainting rooms. Home improvement brands who typically sell to businesses directly should think about how to speak one-to-one to consumers. They can experience a brand lift by creating influencer campaigns with DIYers, writing how-to content for home improvement projects, or filming videos to guide a new homeowner through caulking a tub or replacing cabinet knobs.
Buying a home is an investment. Everything that comes after that also requires a budget. For home improvement brands who want to speak specifically to the homeowner (rather than the retailer) demographic, they should make their tools and products budget-friendly and easy-to-use for a homeowner at any stage.
Early buy-in can create long-term customer relationships because there will always be another need around the house; whether it’s a new lawn mower or a toolkit for simple repairs. While many brands will not abandon their B2B model, nor should they, it’s a smart idea to start shifting some investment to speaking to the B2C audience.
Home Energy Savings and Environmental Responsibility
There are states that honor a consumer’s ability to choose the energy provider they use. For brands like Constellation, for example, creating educational content for new homeowners can make them feel more economically and environmentally responsible for their choices.
Technology allows us to decide how to regulate temperatures and conserve energy while keeping our homes cool or warm depending on the season. It also gives us access to cost savings and value. Homeowners interested in budgeting for utilities, while also improving their carbon footprint can take advantage of these types of programs.
Furniture Brands and Home Decor
Lastly, making a house a home is an ongoing process, which is determined by personal style, taste, and functionality. Furniture is one of the first things homeowners shop for to create a welcoming space. Brands like Southern Motion speak to consumers’ interior design minds through their helpful content and home inspiration ideas. By creating content that’s helpful and delivering a great product, it’s easier to turn a one-time buyer into a long-term customer or encourage referrals to others.
When creating user experiences for customers, think of where they’re shopping. If it’s in-store, what kind of experience are you providing them compared to what they can experience online? Align your goals so your brand conveys a consistent message and customers can trust they’ll receive a good value regardless of where they shop.
Homeowners have invested their time, money, and energy into a property they will spend more time, money, and energy in maintaining and improving. Brands who are directly associated with the home goods market or even those who sit more on the fringe of what’s needed for homeownership should strategize how to reach this popular demographic. With the right approach and planning, brands can create long-term relationships with customers who answer the simple question of homeownership.