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How To Determine Target Audience (for Home Builder Marketing)

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4 min 15 sec read

 

Your target audience fuels your business. Learn the strategies it takes to connect with them.

 

Your audience contributes to the success of your company. Target audience is defined by a group of individuals who are considered the proper audience to purchase your product, whether that be a condo, house, community or office building. In other words, these people meet your home builder product’s specific criteria.

 

Understanding who your target audience is, where they can be found, how to reach and communicate with them are the steps for success when determining how to market to your buyers. I cannot stress enough the importance of knowing who exactly is in your audience. I have learned from experience how successful firms can be when they can pinpoint exactly who to market to.

 

Dangers of Not Knowing Your Target Audience:

 

It’s critical to know who you are trying to market to because without this information, you are shooting in the dark. Not knowing their income or other demographic-related information can be a waste of time, money, and energy not only for you, but on your marketing efforts. It’s vital to understand who these people are to have a successful strategy.

 

Who is Your Target Market?

 

When determining who is your target audience, demographic and lifestyle information should be your primary concern. Common examples of this type of information include household income, age, number of children, marital status, and even education level. Everyone is different, but those who are in your target audience all have one thing in common – interest in your product.

 

Where is Your Target Market?

 

Not only is it important to know who your target audience is, but it’s just as important to know where they live. Location is everything to the marketing world too, not just in world of real estate. By knowing where your target audience can be found, you can target them on a location basis. Strategic marketing plans have the ability to geo-target a specific set of people that best fit your target criteria.

 

How to Reach Your Target Audience:

 

Along with location, it’s also important to know how to reach your prospective clients. Let’s take social media as an example. There are millions of people on social media every day. Some use Facebook regularly while some only use Instagram or Twitter. There are many different platforms people use to communicate, but by knowing which ones are used the most can make all the difference in your firm’s marketing success.

 

Again, it’s not enough to just know who they are and where they live; your firm also has to know how to communicate with your target audience. Specific groups of people tend to congregate into similar interests and modes of communication. For example, the 55+ audience calls for an entirely different set of marketing criteria than the millennial audience. Take a look at different marketing strategies for each group.

 

Marketing Strategies for Seniors:

 

Seniors (55+) are big readers. They still read their newspapers, keep up with their magazine subscriptions, and can be engaged through the efforts of a print campaign that targets them. In order to maximize your marketing endeavors, you must correlate your online marketing strategies with your traditional strategies for increased reach.

 

For instance, it would be a mistake to overlook social media while marketing to an older crowd because many of them keep up with their friends and family through Facebook, Twitter, and other social networks. In fact, correlating a social media strategy in relation to an email or direct mail campaign will be ideal to market to the baby boomer audience.

 

When speaking to seniors, be sure to use a more sophisticated, formal tone. This is especially important during your pitch delivery or talking about a home listing. In order to increase the chances of turning a listing into a sale, be sure to use proper messaging in your marketing efforts.

 

Marketing Strategies to Millennials:

 

Millennial driven strategies are a whole new animal from traditional marketing methods. We know from previous research that this group of people, in particular, are prioritizing proximity for their future home. Common examples of this include being close to restaurants, bars, and other walkable amenities.

 

Different terminology appeals to different age groups. When speaking to millennials and the younger audience, utilize a more “hip” and “loose” messaging tactic in your marketing campaigns. Be sure to be upbeat, positive, and relatable when communicating with all millennials.

 

How to Market to Multiple Audiences:

 

In addition, you might have more than one type of audience for your product. Such as a community full of different ages of people. While young families just starting out with no kids are looking for one thing, people with a growing family and multiple children are looking for a completely different product.

 

Empty nesters, on the other hand, are also looking for something different than families. They might be in the market for a smaller house for downsizing purposes, amenities to enjoy during retirement or perhaps included maintenance for landscaping.

 

Multiple audiences are very crucial because if you skip over certain groups of people, then you are missing out on opportunities to sell to a broader market. It’s really important to identify the people in your target audience and be able to speak to them. How they communicate and what terms or phrasing will trigger their interest in your product.

 

To wrap it up, home builders need to determine who your target audience is, where they can be found, how to reach them, and how to communicate with them effectively. Then you can work with a marketing firm to determine which strategy best fits the needs of your specific product.

 

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About Terry Zelen

Creative Director | Consultant | Author | President of Zelen Communications

Terry Zelen is a seasoned Creative Director with more than 35 years of experience in Home Builder advertising and marketing.

He is the founder of The Punch List, which is an online blog to help inform home builders and developers on strategic marketing insights to fuel their firm.