According to John McManus, the respected publisher of BuilderOnline.com, home builders will soon get a full dose of digital reality. Reporting from the CES (Consumer Electronic Show) in Las Vegas, McManus revealed that the digital age has fully transformed the purchasing of goods and services. To strengthen this sentiment, the NRF (National Retail Federation) reported that over 170 million Americans shopped online during the Thanksgiving holiday and only 51 million shopped in traditional stores.
These figures are a clear indication of the billions of dollars worth of opportunity for online stores as well as brick and mortar stores with an online presence. However, McManus feels that home building and residential developers have not kept up with the pace of change and intensity that has been realized by other consumer market segments. But, the reality is, these changes are now coming at lightning speed.
McManus has identified 3 areas where technology is expected to quickly turn around residential building operations. He suggests that about 75 percent of a builder’s marketing resources should go to technology and data-enabled experiences for consumers. According to one CEO, building one model home in every residential development will change the game completely. Currently, the focus is on building, warehousing, maintaining, and merchandising all these models instead of developing a rich experience that augments the virtual experience. This means it’s time for the home building industry to catch up with other consumer businesses.
Jann Swanson has a great read on Mortgage News Daily which goes into more detail about how home builders will be faced with this reality check regarding digital marketing sooner rather than later.
Based on these ongoing changes in the home building sector, ASTRALCOM can help to ensure that your business will be able to adapt to this ever-changing marketing environment. Read our recent post: The Proof is in the Conversions – Getting Better ROI in Homebuilder Marketing. Make your work easier by providing your business with much-needed marketing techniques that will bring your organization fully into the digital age. For more information, contact us today.