Saturday, February 6, 2016

6 Stats You Need to Begin Marketing Modular Homes to Millennials

Who exactly qualifies as one of these dreaded millennials? According to the dictionary, a millennial is defined as anyone born in the 1980s or 1990s.

With an annual buying power of $200 billion, they are an immense force. It’s time for smart modular home builders to learn more about this demographic’s behavior and start adapting their campaigns to target these new home buyers. The bottom line is, you can love can love them or hate them, but you certainly can’t afford to ignore them.

Stat #1: 89% of millennials trust recommendations from friends and family more than claims by the brand. –Kissmetrics

Gone are the days where celebrity endorsements were the number one way to attract new business. Very few millennials are hitting up the Carl’s Jr. drive-through just because a scantily clad Paris Hilton loves their burgers. Instead, we’re heading there because we’ve heard great things about it from our friends and family.

This is great for small to medium-sized modular home builders. Let me assure you, convincing your existing Millennial home owner base to promote your brand is way cheaper than paying stars to pose with your products. So, how do you go about creating these customer evangelists?

First things first, it’s critical to ensure you are giving all of your new home buyers the best experience possible. In a world where anyone can take to social media and broadcast their dissatisfaction to thousands, every interaction with your business counts. Examine your processes closely to understand your buyers’ experiences and brainstorm new ways to delight them with your services. Sometimes tweaking the smallest details can make a profound impact.

Stat #2: Nearly half (44%) of millennials are willing to promote products or services through social media in exchange for rewards. –Aimia

Millennials are certainly not shy about sharing positive product experiences with their contacts, especially when there’s an incentive involved. We’re seeing an increasing number of businesses catch onto this trend and use it to their advantage.

Having a prospective new home buyer or an existing client promote you on social media and getting a $25 gift card if they get 100 ”Likes” could result in a lot more people visiting your website.

Stat #3: 84% of millennials report that user generated content on company websites at least somewhat influences what they buy. – Bazaarvoice

When marketing to millennials, know that they don’t just want to hear what YOU have to say about your product, they want to hear what your customers have to say about it. If there are no user reviews or testimonials readily available on your website, they’re likely to hunt them down elsewhere. 

Do you really want to risk having them leave your site? Instead, give clients the opportunity to share their experiences directly on your product pages.

Stat #4: More than 85% of millennials own smartphones. –Nielsen

Millennials are addicted to their phones. In fact, they’re guilty of checking their smartphones an average of 43 times a day! The bottom line is, if you want to market to millennials, your brand needs to be present on our favorite, omnipresent devices.

The biggest offense is not having your website optimized for mobile phones. If a Millennial gets a crappy version of your website simply because you haven’t optimized it, they will move on the next quickly.

Stat #5: 84% of millennials don’t trust traditional advertising. –Hubspot

When it comes to millennials, old school, traditional marketing is not the route to go. They’re skeptics of impersonal methods like radio and magazine ads, pop-ups, cold calling and direct mail campaigns, which feel disruptive. Instead of pushing your advertising on them, give them a reason to come to you.

When it comes to social media outlets like Twitter, Instagram and Facecbook, strive to create images which feel like native content on the platform. The goal is for posts to showcase your homes in a natural way that doesn’t make them feel like advertisements.

Stat #6: 90% of millennials can be found on Facebook. –Hubspot

They’re obsessed with Facebook—in fact, most millennials log more than two hours a day on the social media platform. So, if you’re looking to market new homes to millennial customers, this is definitely one of the best places to do it.

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