Marketing demographics still matter, especially to builders and remodelers. How do you determine your ideal remodeling or building client demographic? Our upcoming satirical blog on what makes an ideal remodeling client touches on some of the psychographic components of an ideal customer, like attitude, adaptability, patience, friendliness, and clear communication. Demographics are equally important for targeted marketing.
Marketing to your specific demographic is one way to get the most from your marketing budget rather than wasting time marketing to clients who are not a good fit for your company.
Determining your marketing demographics should include gathering the following information:
- Where is your ideal location? Your geographic service area needs to be accessible enough to your central location that you don’t squander resources getting to job sites.
- What types of homes do you want to work on?
- If you’re a home builder, you will target based on the types of homes you want to build in the areas where you want to build them. Ideally, you will be building the most profitable homes in neighborhoods where they retain their value.
- Ideal remodeling clients are homeowners, with homes old enough to need updates, but not so dated that they cause numerous headaches (unless your company is focused on historical restorations).
- Their homes need to have a market value of a specific minimum amount.
- They likely have a great deal of equity in their homes or own them outright.
- Income level is a consideration, as you want to make sure the client can afford your services; it will be frustrating to potential prospects as well as your company to market services out of their price range.
- Age is not as big of a determining factor as it once may have been.
- Many younger homeowners are choosing to remodel their homes rather than move.
- Younger homeowners may have both children and careers, lacking time to complete projects on their own.
- Age can be an indicator of financial stability, especially if marketing to retirees.
- Retirees are more likely to have paid their homes off and may have the liquidity to pay in cash for services rather than financing.
- Retirees may also be seeking out Aging in Place remodels to help them remain in their homes as long as possible.
Go Forward Empowered with Knowledge
Now that you know which factors help determine your perfect clients, select areas with a higher concentration of your ideal client to focus your marketing efforts. The bullet points above comprise the main relevant factors in determining your demographics. Things like education or marital status may be valuable knowledge for determining income. Once you have determined your marketing demographic you can concentrate your marketing efforts to specific households or neighborhoods meeting your criteria.