If you work in the retail industry, you should be engaging with Homemovers and riding the "wave".
Homemovers are the most valuable consumers in the UK, generating £12b in incremental revenue each year. For kitchen and bathroom retailers, homemovers are 8x more likely to buy these products than other consumers. Homemovers also account for over 25% of the spend in the home improvement sector.
The Homemover Wave tracks consumers through key milestones of a home move journey. The wave usually spans 18 months, from the moment a homeowner thinks about putting their house on the market, to 12 months after they move in. This analysis means that kitchen and bathroom retailers, for example, can pinpoint exactly when potential customers are making decisions about home improvement purchases, as the chart illustrates, and target them with the right message at the right time, with the right context - the key to successful marketing communications.
So if you're thinking about applying this approach, what might you consider for an effective programme?
- Pre-move - target consumers with inspirational messages about how their kitchen or bathroom could look. Don't bombard with offers just yet.
- Post-move - consumers are in purchase mode. Target them with relevant sales messages based on the value of their properties. As a general rule, 1.5% of property price will be spent on a new kitchen.
Homemover data can also identify consumers who are undertaking major home refurbishments and improvements, for example, anyone who has applied for planning permission is more likely to be in the market for a new kitchen or bathroom. Ultimately, driving desire and inspiration to a highly-targeted audience is the key to a successful marketing campaign and thus increasing ROI.
Would you like to find out more? Drop us a line or chat to one of the team today on 01908 829300.