As anyone who has bought, sold or rented a property will know there is often an inevitably about the transaction falling through. Covid-19 has brought into sharp focus how a “force majeure” can have a devastating effect on many in the process of moving home.
Fall throughs & withdrawn transactions are not uncommon. From our most recent Property & Homemover report published in January, we recorded over 225,000 in 2019.
For many brands this is the perfect opportunity to engage with the homeowner whereby the shock of the transaction failing is rapidly replaced with a “I have to stay & improve” philosophy, none more so in this current period of economic uncertainty.
Based on the significant category & sector experience we possess the “stay & improve” homeowner drives purchases across DIY, soft furnishings, kitchens, bathrooms & furniture. Furthermore, sectors at a tangent including automotive and leisure are also significant beneficiaries of a homeowner having the capital to spend on products and services other than a house move.
Since the 23rd March (when the initial lock down was announced) we have seen nearly 80,000 transactions fall through or withdrawn from sale within the UK creating a unique audience of homeowners who have been forced to adjust their spending plans in the short to medium term.
As marketers we are responsible for generating the footfall that will deliver the revenue into our respective businesses. As we plan for the lifting of lockdown the spotlight on marketing and our ability to deliver footfall & revenue quickly will be intense. Consequently, focusing on those consumers with the highest propensity to engage with your brand is key to cutting out inefficient marketing in a post lockdown world.
The "Stay & Improve” homeowners offer one “silver bullet” to accelerate footfall & revenue.
TwentyCi are the leading data & insight provider for the UK property market and compared to our next best competitor, TwentyCi have 67% more households. We are also multi-channel with engagement available across direct mail, email, social, digital display, mobile and television.
If you would like to know more, you can contact Nick McConnell at nick.mcconnell@twentyci.co.uk or Colin Bradshaw at colin.bradshaw@twentyci.co.uk.
TwentyCi | enquiries@twentyci.co.uk | 01908 829300