Danny Crowe, Planning Director at TwentyCi, joins us to talk about the ‘homemover’ wave, and why kitchen and bathroom retailers should ride it:
“If you’re a kitchen or bathroom retailer, chances are your ears prick up the moment you hear a customer say they are moving house. After all, home-movers are the most valuable customers on the planet, generating £12bn incremental annual spend in the UK. Home-movers are eight times more likely to buy a kitchen or bathroom than other consumers. They may only make up 5% of the population at any one time, but they account for more than 25% of spend in the home improvement sector. So how can you tap into this valuable source of potential customers before your competitors do so?
Life event marketing is an effective data-led technique that tracks consumers across key milestones, one of them being moving house. The ‘homemover’ wave spans about 18 months, from the moment someone thinks about putting their home on the market until about 12 months after they move in. With ‘homemover’ data, kitchen and bathroom retailers can pinpoint exactly when potential customers are making major decisions about their home (see the home improvements line on graph). Successful marketing relies on delivering the right message to the right person at the right time, but life event marketing adds another element – the right context. People who are about to buy, or have just bought a house have a much higher propensity to buy than other consumers, so the communications you deliver during that time are likely to be more effective.
In the pre-move phase, your message should be about inspiration. Don’t bombard them with offers – give them ideas about how their new kitchen or bathroom could look and let them know you’re there when they’re ready. Once they’ve moved in, they are in purchase mode; this is the time to deliver relevant sales messages. Make sure the price point is right based on the price of their property – as a rule, customers will spend about 1.5% of the property value on a new kitchen. This consideration should follow through to your retail displays. While luxury kitchens with big islands and AGAs may look attractive, it’s the smaller kitchens that may be more relevant.
Using life event data you can also identify consumers undergoing major home improvements – people who have applied for planning permission are more likely to be in the market for a kitchen or bathroom. Another interesting trigger is equity release; people who take money out of their homes have a high propensity to buy a kitchen or bathroom. ‘Homemover’ data also helps you to exclude segments that are not relevant, such as renters or people moving into a new build who are highly unlikely to be in the market for a new kitchen or bathroom.
To maximise your life marketing campaign, look for opportunities to collaborate with manufacturers who may have budget allocated for local activities. Driving desire and inspiration to a highly-targeted audience can only increase showroom footfall and, ultimately, sales.”
TwentyCi | twentyci.co.uk