Digital Marketing Consultant * Building Industry Specialist – 19 Years • MIRM, MCSP, CAPS, CGA, AA, Broker • Past Chair National Sales & Marketing Council • Past Chair Professional Women in Building •2011 NAHB PWB Woman of the Year •2011 NAHB NSMC Bill Molster Award •2010 NAHB MCSP of the Year! •2 2009 NC Distinguished Associate of the Year!
As the housing market recovers, the new home industry continues to try and find innovative ways to gain market share over resale homes. Come hear BDX’s Tammie Smoot talk about the latest home buyer research and how that will shape your approach and messaging.
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Digital Marketing Consultant* Building Industry Specialist – 19 Years• MIRM, MCSP, CAPS, CGA, AA, Broker• Past Chair National Sales & Marketing Council• Past Chair Professional Women in Building• 2011 NAHB PWB Woman of the Year• 2011 NAHB NSMC Bill Molster Award• 2010 NAHB MCSP of the Year!•2 2009 NC Distinguished Associate of the Year!
Tammie Smoot
Digital Marketing Consultant* Building Industry Specialist – 19 Years• MIRM, MCSP, CAPS, CGA, AA, Broker• Past Chair National Sales & Marketing
Council• Past Chair Professional Women in Building• 2011 NAHB PWB Woman of the Year• 2011 NAHB NSMC Bill Molster Award• 2010 NAHB MCSP of the Year!•2 2009 NC Distinguished Associate of the Year!
BDX : Who we areA team of online marketing experts.Solutions to create the complete digital experience
May I Ask a Favor?
1. Facebook : Builders Digital Experience2. Tweet - #the_BDX3. Who is Bill Barnes?4. Thank You to our HBA Staff and Tony Birk
Agenda• What homebuyers are looking for in a new
home and how to position your homes better
• Messages that resonate with Realtors• Demystifying New Home Sales
• Start Fresh Buy new• The HomeBuying Time Line• Ideas to use today
• Insights & Implications
Strategic Industry Initiative
Expanding the New Home Market
The New Home Industry has a problem&
It is time to do something about it!6
What is Start Fresh. Buy New?– Large scale, industry wide campaign
promoting the advantages of newly-built homes to home shoppers.
– Comprehensive, national research plan to gain insights from both consumers and agents.
– First-of-its-kind consumer marketing & promotional campaign reaching millions of home shoppers in 2013 and 2014.
.
Examine Significant Industry Questions
How is the face of today’s home shopper
changing?How is the
generational cohort shift affecting the shopping process?
What are the primary barriers to “New” home
purchases?
Why is appeal for new growing/waning?
Capture “Pulse of Shoppers”How financially confident are
Realtors Primarily Rely on MLS to Learn about New Properties
26
None of theseOther
Radio advertisingTelevision advertisement
Local magazine/publicationSocial media (i.e., Facebook, Twitter, etc.)
National real estate listing websitesLocal newspaper articles
Billboards and roadside signageLocal newspaper advertisements
Online advertisement
Online search engines (i.e., Google, Yahoo, etc.)
Local Real Estate/New Home PublicationsLocal real estate listing websites
New home open houses hosted by buildersNew community/model home visits
Other agents/brokersBuilder announcements (e.g., e-mails, etc.)
Multiple listing service (MLS)
0% 25% 50% 75% 100%
18
557
1313
1616181820
2529
3738
4549
80
Sources of Information
% of respondents
Base: All, 3,044 ● Q14: How do you become aware of new homes offered by builders that are available to prospective (residential) buyers that you work with? Select all that apply.
Make it EASY
• Clearly State the REALTOR REGISTRATION & COMMISSION POLICY
• Add VIDEO Tours
• Include a PDF of your BENEFITS and STANDARD Features
Realtors’ Focus on What’s Most Important Does Not Align with Buyers Or What Helps Sell New Homes
37
Base: All (3,044) ● Q19: For each attribute below please indicate the extent to which you believe existing and new homes offered by builders differ? Use your mouse to slide the marker towards your answer. ● Q15: When working with a client to purchase a home, how likely are you to recommend they purchase….
0
25
50
75
100
A OS H J
LT
P KQ E D F
M C U V N R BG
I
Most Important Home Features for Driving Rec-ommendations to Clients
Overall Importance
Average
A Lower cost per square foot/More space for the money
B Lower maintenance costs (money and time spent)
C More living spaceD Less living spaceE Proximity to good schoolsF Convenient to
shopping/entertainment/activitiesG Safer neighborhoodH Character/Uniqueness of homeI Convenient to workJ Convenient to friends/familyK Larger yard or lot/More space
between housesL Established neighborhoodM Ability to customize house to best
suit you and your familyN Community amenities (pool, park,
golf course, etc.)O Quality of constructionP Architecture/Overall design
(appearance of house)Q Better floor plans for me and my
familyR Energy efficiencyS Sense of community within
neighborhoodT Mature trees & landscapingU Prestige/ExclusivityV Storage space
Impo
rtanc
e*
Attribute*Derived Importance: The scores are shown as relative importances using TreeNet Analysis
Top 10 Most Important Considerations for Home Purchase
Wave 1 New SegmentWave 1 Indifferent SegmentWave 2 New SegmentWave 2 Indifferent Segment
Average
Top Criteria Remain Largely Unchanged: Quality Reigns Supreme
42
Mea
n im
porta
nce
Source: BDX 2012 and 2013 Homebuyer Insights Study, Hanley Wood, Chadwick Martin Bailey
0% 25% 50% 75% 100%
30
21
33
31
39
38
41
49
58
61
80
31
20
31
23
36
35
34
47
58
63
77
New is BetterExisting is Better
0%25%50%75%100%
29
13
20
13
11
11
8
6
6
7
2
25
11
18
14
12
10
9
6
7
5
2
Prospect Wave 1 Prospect Wave 2
New Homes Have Improved/Maintained Performance in Many Areas But Lost Ground on Quality
Energy efficiency
Ability to customize house
Lower maintenance costs
Better floor plans for me and my family
Community amenities
More living space
Storage space
Prestige/Exclusivity
Architecture/Overall design
Safer neighborhood
Quality of Construction
43
Existing is Far Better (4pts)
No Difference(Middle 3pts)
New is Far Better (4pts)
Items rated on an 11pt slider scale with anchored ends. Data shown excludes middle 3 points. Items sorted by gap score (new-existing).
Attribute Performance (sorted from high to low based on gap between new minus existing)
Note: Movement of approximately 4 pp is considered meaningful
Source: BDX 2012 and 2013 Homebuyer Insights Study, Hanley Wood, Chadwick Martin Bailey
0 5 10 15 20
0
4
5
5
7
9
10
8
11
12
12
16
0
5
5
6
7
9
11
9
11
12
11
14
Prospects
Recent Buyers
Buyers Use Essentially the Same Factors to Determine Quality of New and Existing Homes
Durability
Workmanship/Craftsmanship
Structural Materials
Fit and finish
Warranty
Architectural Design
Performance specifications
Energy ratings
Built to specifications
Newest technology
Good for the environment/green
Other
44
0 5 10 15 20
0
5
6
7
8
9
9
10
10
11
11
13
0
6
6
7
8
9
10
9
10
11
11
13Existing Quality New Quality
Importance of Criteria for Determining Quality(among shoppers who will or did consider each type of home)
Source: BDX 2012 and 2013 Homebuyer Insights Study, Hanley Wood, Chadwick Martin Bailey
How do we combat this?
Builder Toolkit
Builder Toolkit
Available on….
Nashville
Nashville
Nashville
Nashville
Insights & Implications
The process is lengthy & emotional… the joy gap is real
JOY Gap
- Joy!- Relax – focus on your
“want-to-do” listJoy
OFFER ACCEPTED
BEGIN JOURNEY
Excitement“I’m ready for a new
adventure!”
Worried“I hope I make the right
choice.”“Who can I trust?”
Nervous“Can I afford it?”
“Did I buy a lemon?”
Exhilaration“I found the house!”
Tentative Excitement
“We did it, but now what?”
MOVE-INDATE
Cautious“Will the build process
go okay?” (new)“What will the
inspectors find?” (existing)
Life in an EXISTING home
Life in a NEW home
- Joy (guarded)- Stressed – list of “to-do’s” is long
9 out of 10 buyers start their new home search online.
Are your new homes on the HBA
Website?
For effective consumer messaging…
…illuminate shortcomings of Used homes
…and emphasize the attributes shoppers value most
Designed for Living
Low Cost of Ownership
Quality Construction
Energy Efficiency
*Focus our messaging on criteria that are considered most important to recent buyers, where gaps exist in perceptions of new and existing homes
Quality of ConstructionNeighborhood SafetyBetter Floor PlansLower cost per square footArchitecture/ overall designLower Maintenance Costs
• Keep in mind that those who purchase existing but PREFER NEW are likely to be young Families (working full time , aged 40-60, planning an increase in family size.
*Research across the Chartbeat network has shown that if you can hold a visitor’s attention for just three minutes they are twice as likely to return than if you only hold them for one minute.
Brand Awareness, Perception & Opinion
How do you stack up with regards to value?
What can I do to improve my image?
How would you rate each of these builders as far as construction quality is concerned?
What is your local brand awareness, aided & unaided?
How likely would a shopper refer you to a friend?
#1 Feature of Top Selling Plans
• They’re presented well. Make sure your marketing materials match your customer’s high expectations.
www.builderonline.com
Bad Photo = Bounce
“According to research from the National Association of Realtors, 98% of home buyers who searched for a home online said photos were among the most useful features of real-estate websites.”
Start with quality content: image quality
Average
+15%
-15%
Set Yourself Apart????
Start with quality content
VS
Images by BDX -media
MLS – Best Practice FLOOR PLANS
BDX Confidential Material - Please Do Not Distribute
De-Stressing
Entertaining
Flex Space
Storage
Livability At A Glance!Floor Plans Without The “Clutter”
EXAMPLE: This traditional Ranch home is perfect for entertaining, offers a Master Suite for peace and quiet, space for a home office, future nursery, or guest room, and plenty of storage.
BDX Confidential Material - Please Do Not Distribute
Interactive—take it up a notch!
Hot Spots
Drag & DropFurniture
CustomizablePlans
Social MediaIntegration
Interactive Floor Plans—let her play (and share)!
Whichxample?
Give them the tools they need - Video:
Compete Research results show 86% of new construction intenders identified community & home videos as a primary resource during their shopping process.
BDX Confidential Material - Please Do Not Distribute
• Model Home Tour• Community Tour• Outside The 100 Acres
• Company History• Company Philosophy• Message from the CEO • Meet the Team