In a recent article for kb-network, Danny Crowe, TwentyCi's planning director, discusses why kitchen and bathroom retailers in particular 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, these consumers are 8x more likely to buy their products than other consumers. They also account for over 25% of the spend in the home improvement sector.
The "Homemover Wave" is derived from a data-led technique called life event marketing, that tracks consumers through key milestones, one of these being moving house. The wave usually spans 18 months, from the moment they think about putting their house on the market, to 12 months after they move in. This analysis means that kitchen and bathroom retailers can pinpoint exactly when potential customers are making decisions about home improvement purchases, as you can see from the graph, and target them with the right message at the right time, with the right context - the key to successful marketing communications.
- 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 rule, 1.5% of property price will be spent on a new kitchen.
Life event data can also identify consumers who are undertaking major home refurbishments and improvements, e.g. 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 sales.