59% of Homeowners Want to Renovate in 2023

December 14th, 2022 by

Due to higher interest rates, many Homeowners are staying in place and renovating their homes. According to a survey by Survey Monkey,   59% of homeowners want to renovate their current home in 2023. This survey was of Homeowners with an October 2022 Zillow Home Value index of $357,589,.

In terms of paying for improvements, most (54.4 percent) intend to pay with cash. This is compared with 13.5 percent who intend to get a home equity line of credit (HELOC), and 11.4 percent who will use credit cards.

Home improvement companies and marketers who want to reach these homeowners can select a targeted marketing list from Dataman Group Direct. This list can be used for direct mail, telemarketing and email marketing.

Target by Modeled Credit Score

When you target your list successfully, you increase your opportunity to get a good response. In the home industry, some of the criteria you can select include:

  • Single family home
  • Home value
  • Household income – or – modeled credit score
  • Family composition (children, multi-gen, married)
  • Age of Home
  • HELOC prospects

Response rates increases dramatically with multi-channel marketing. That means that when you reach out to your top prospects using more than one marketing channel, you increase your odds that they will see – and respond to – your message.

That means you can order telephone numbers (scrubbed against the DNC) or email addresses, where they are available.

Direct Mail Postcards Are Proven Winners

A targeted mailing list gives you the chance to reach all these homeowners via direct mail. In the home improvement industry, many marketers use postcards to market their businesses. Postcard marketing offers a 100% open rate. There are lots of statistics showing its’ effectiveness.  And, the response rate increases when you mail to the same household multiple times. The experts suggest mailing three times for maximum effectiveness.

For home businesses who do not have a professional-looking mailer, myDMpostcards.com offers an easy, cost-effective DIY system. The best part about this site is that there are no minimum quantities. If you want “to drip” your mailing, you can – without paying huge costs. The system is really easy to use – and the list professionals at Dataman Group will walk you through it.

It may be a challenging year for businesses in the Home Improvement industry. But, by targeting your best prospects wisely, you can keep your advertising costs down – and get solid results.

BTW – you can click HERE for more info on the Zillow survey