At Bokka, we understand the challenges that home builders face when it comes to marketing their businesses. With so much competition, it's important to stand out and attract potential customers. That's why we've put together this comprehensive guide to creating a home builder marketing plan.
A home builder marketing plan is a strategic document that outlines the steps you will take to promote your business and attract new customers. It should include a detailed analysis of your target market, a breakdown of your marketing budget, and a timeline for implementing your marketing activities.
Having a solid marketing plan in place is crucial for any business, and home builders are no exception. A marketing plan for home builders helps you focus your efforts and allocate your resources effectively, ensuring that you are targeting the right audience and achieving your desired results. It also helps you track your progress and measure the success of your marketing efforts.
Before you can start marketing your home building business, you need to understand your target market. Who are you trying to reach? What are their needs and preferences? What are they looking for in a new home?
To get a better understanding of your target market, consider the following:
Having well-defined personas can help you better understand your target audience and develop marketing strategies that will resonate with them.
Once you have a clear understanding of your target market, the next step is to set specific, measurable, achievable, relevant, and time-bound (SMART) marketing goals. These should align with your overall business objectives and be specific enough to guide your marketing efforts.
Today's homebuilding marketer wears a lot of hats, so we recommend an agile approach to make it less daunting.
The agile process is a flexible, iterative approach to project management that allows you to quickly respond to changing requirements and priorities. It can be especially useful when setting marketing goals, as it allows you to remain flexible and adapt to new information as it becomes available.
To set marketing goals using the agile process:
For example, a goal for a home builder using the agile process might be to increase website traffic by 20% in the next six months. This goal is specific (increase website traffic), measurable (by 20%), achievable (with a reasonable amount of effort), relevant (to the business), and time-bound (in the next six months). However, if new data becomes available that suggests a different approach would be more effective, the goal can be adjusted accordingly.
Using the agile process allows you to remain flexible and adapt to changing circumstances, ensuring that your marketing efforts are always aligned with your overall business objectives.
Now that you know what you want to achieve with your marketing efforts, it's time to decide how much you are willing to spend to achieve those goals.
Developing a marketing budget is an important step in creating a home builder marketing plan. It helps you allocate your resources effectively and ensures that you are making the most of your marketing efforts.
When developing your builder marketing budget, consider the following:
With that in mind, here is a sample inbound marketing budget breakdown for small to medium-sized home builders:
Example: Total monthly inbound marketing for builders' budget: $7,000+
Keep in mind that this is just a sample budget, and the actual cost of implementing a successful marketing plan for home builders depends on specific business needs and sales goals. It's important to review your budget regularly and adjust as needed to ensure that you are getting the best return on your marketing investment with a cost-per-lead style report.
There are many different channels you can use to reach your target audience. Some options include:
For a more extensive list with descriptions, check this out.
It's important to choose the channels that will be most effective for reaching your target market and achieving your marketing goals. You may want to use a combination of channels, depending on your budget and resources.
A marketing calendar is a schedule of all your marketing activities, including the dates and details of each activity. This helps you stay organized and ensures that you are consistently promoting your business.
When creating your marketing calendar, consider the following:
The resources required for each activity (e.g., do you need to allocate funds for your marketing calendar, it's time to start implementing your marketing plan. This involves executing the activities you have planned, tracking your progress, and adjusting your efforts as needed.
To get started, here are a few tips:
Creating a home builder marketing plan may seem like a daunting task, but with the right strategies and some planning, you can effectively promote your business and attract new customers. By conducting a market analysis with personas, setting SMART marketing goals, developing a budget, identifying your marketing channels, and creating a marketing calendar, you can create a comprehensive plan that will help you stand out in a crowded market and sell more homes.
At Bokka, we've been helping builders utilize proven home builder marketing strategies to grow their businesses for over 20 years. We have a team of marketing experts who can help you develop and execute a marketing plan with a strategy tailored to your specific business needs. Contact us today to learn more about how we can help you succeed.
How do home builders get clients?
Home builders attract clients through strategic marketing efforts tailored to their target audience. By conducting thorough market analysis and developing buyer personas, they gain insights into their potential clients' needs and preferences. Effective marketing channels include social media advertising, email marketing, real estate websites, content marketing, pay-per-click advertising, traditional advertising, and referral marketing. Consistently engaging with potential clients through these channels helps home builders establish their brand presence and attract leads.
How much does marketing for home builders cost?
The cost of marketing for home builders varies depending on factors such as the size of the company, target market, and chosen marketing strategies. Industry experts recommend allocating between 5% and 15% of revenue to marketing efforts. Sample marketing budget breakdowns may include expenses for social media advertising, email marketing, real estate websites, content marketing, pay-per-click advertising, traditional advertising, and referral marketing. Builders should regularly review their budgets to ensure they are maximizing their return on investment.
How do you create a successful marketing plan for home builders?
Creating a successful marketing plan for home builders involves several key steps. First, conduct a comprehensive market analysis and develop buyer personas to understand the target audience. Then, set agile and SMART marketing goals aligned with overall business objectives. Develop a marketing budget to allocate resources effectively and choose the most effective marketing channels to reach the target audience come next. Finally, create a marketing calendar to schedule and execute marketing activities consistently, track progress, and adjust strategies as needed.