How the Right Data Can Help You Reach Your Ideal Customer

Even when you have a crystal clear image of your ideal customer, you still need to know how to connect with them in a time-efficient and cost-effective way. By alerting you to trends and spotlighting opportunities, detailed data on local construction projects can lead you straight to the clients you want most.

Spot the Trends

Reviewing local building permit data can help you find neighborhood trends that show where your ideal clients might be within your area. If you’re a general contractor focusing on home additions, a neighborhood with a high rate of home addition, remodeling, and renovation permits is a rich source of clients. Neighbors take inspiration from each other and once a few start renovating, more are sure to follow. Do a great job for one client and your name will spread through word of mouth. For financing providers, keeping an eye out for new building permits can reveal clients who are in the market for construction or home improvement loans.

Track Their Habits and Interests

When you know your ideal clients well, data from a building permit can help you surmise what the property owner might be buying soon. A building permit for a large house in an affluent neighborhood is a good indication the owner might be interested in high-end countertops, cabinets, and floor coverings. If you sell eco-friendly or smart appliances, looking for house plans that include solar or geothermal heating can help you find homeowners interested in cutting-edge appliances.

Hoping to find more repeat business? Looking at the construction history of a building tells you who might become a long-term client. If a homeowner renovated their kitchen one year and built an addition the next year, that suggests an on-going interest in home improvement. On the other hand, if a home hasn’t been renovated in the last 20 years, the owner might be actively searching for someone to do the job. You’ll have a chance to reach them before your competition does.

To learn more about using construction data to reach your ideal clients, contact us at Construction Monitor.

Incorporating Consumer Trends into Your Marketing Plan

Paying attention to what consumers want isn’t only useful for discovering new markets. It can also help you develop a marketing plan that’s fully in tune with your ideal clients’ needs and interests.

Do Your Research

To get real value from using consumer trends in your marketing, you need to know what the relevant trends are. Your intuition about what’s trending is a good place to start, but make sure you can back it up with hard data before you incorporate it into your marketing. Maybe you’ve heard demand for co-working spaces is booming, but are you sure that’s true for your area? Review the market data, interview suppliers, and hold focus groups to really get to know if a trend you’ve spotted is worth paying attention.

Focus specifically on your target market. Millennials looking to build their first homes set very different trends than older couples who want to remodel their homes for convenience as they age.

Review Your Whole Plan

Every part of your marketing plan can take inspiration from consumer trends. New trends can open up new target markets. For example, you might take advantage of the growing escape room trend by putting together a package detailing how your company can build one. With the ever-increasing concern for environmental sustainability, it’s worth emphasizing your eco-friendly materials and methods in your marketing material.

Look to trends to guide you on where and how to market. Instead of sending postcards with a single marketing message, include a QR code that ties your message into a larger digital campaign. On social media, pay attention to what types of posts are trending.

Trends can also influence your voice. Today’s consumers are generally put off by formal, traditional advertising and drawn to transparency and authenticity, which calls for a more conversational voice. Style trends matter, too. Make sure your website and other marketing material doesn’t look like something from the mid-90s or your prospects might wonder if your construction methods are equally out of date.

Latest Trends in Kitchen and Bath Remodeling

Kitchens and bathrooms are probably the most functional areas of any home. Keeping up with the remodeling trends for these important rooms will give any construction company an edge over its competitors. Here are a few of the kitchen and bath remodeling trends that are driving current home renovation.

  • Simplicity of design: A lot of work is done in kitchens, and a simple, clean design makes it easier to accomplish the cooking and cleaning required in this room. Roomy countertops, flat cabinets, and easily accessible shelves are among the features that make these types of kitchens attractive.
  • Wood: Wood is returning as an appealing design feature in both kitchens and baths. Wood cabinets, especially those made of dark wood or specialty woods, are being used in both kitchens and bathrooms. Newer processes that make wood sturdier and more resistant to the effects of moisture and heat allow wood to be used as an attractive wall covering in bathrooms.
  • Universal design: Design that favors the needs of aging residents is now and will continue to be a popular trend in kitchen and bath remodeling. As the generation of baby boomers continues to age, many will want to stay in their homes, which is known as aging in place. Kitchens and baths will need to be remodeled to accommodate physical restrictions such as limited mobility and reduced eyesight. Remodeling to accommodate wheelchairs is also likely to become more common.
  • Tranquil design: Both kitchens and bathrooms can be busy places, so a recent trend is designing these areas to be as tranquil and calming as possible. This is especially true in bathrooms where some time in a soothing bath can be restorative. Simple designs, muted colors, and practical placement of fixtures contribute to this trend.
  • Open and roomy atmosphere: Open spaces are popular in kitchens and baths, created by freestanding tubs, floating vanities, strategically placed kitchen islands, and open shelving.

Construction Monitor provides up-to-date information on construction trends and current practices. Contact us today for more information on kitchen and bath remodeling trends and what they may mean for your company’s future.

Forecast of Trends in the Home Renovation Market

home renovation marketThe home renovation market can be a gold mine for contractors, but its cyclical nature means you need to keep track of the trends if you want to be ready when opportunities arise.

Sales of Existing Homes Set to Increase

The greatest demand for home renovations comes from buyers of existing homes. Not only do buyers want to remodel their homes to suit their preferences, but older homes often require repairs and upgrades.

In 2014, a sluggish economy and hard winter held back sales of existing homes, but the numbers are set to improve in 2015. With the economy and job prospects picking up, the National Association of Realtors (NAR) predicts the rate of existing home sales should grow by around 7 percent.

Economic Conditions Encourage New Home Sales

News homes also drive the home renovation market and NAR analysis suggest the rate of new home sales could rise by 30 to 40 percent in 2015. Predictions of higher interest rates are helping to fuel this growth. In 2014, analysts predicted mortgage rates would hit 5 percent by the year’s end. Although they rose to only 3.87 percent, the Mortgage Bankers Association found applications for home loans nonetheless increased by 49 percent.

Many analysts still project mortgage rates of 5 percent or more by the end of 2015, which could motivate prospective home buyers to take advantage of relatively low mortgage rates.

As the economy picks up, so does demand for homes, causing prices to rise accordingly. In 2014, home prices rose by some 6.4 percent and the increase is predicted to continue. Rising home prices may encourage some to buy while they can, but decreased affordability could limit the growth in home sales.

The way buyers intend to use their new property is another factor for contractors to consider. The younger generation’s preference for metropolitan areas, where they can’t afford to buy property, has increased demand for rental homes. Rental home owners spend primarily on maintenance, but hesitate to invest in major renovations.

To keep up with trends in the home renovation market, contact us at Construction Monitor.

 

Remodeling Trends for Kitchens and Baths Across the U.S.

Current kitchen and bath remodeling trends are more likely to emphasize smaller size, improved spatial flow between kitchens and surrounding areas, and better conservation of water. Here are some of the most recent kitchen and bath remodeling trends, as reported by Shelley D. Hutchins on the Builder website. Continue reading Remodeling Trends for Kitchens and Baths Across the U.S.