New Rules for Remodeling Sales - Foundation Finance

New Rules for Remodeling Sales

Many factors have changed the game for remodeling sales. The recession, demographic shifts and the availability of data has changed the average home improvement customer. Customers are skeptical of product and service claims and are averse to anything that seems like pressure. This has shifted the marketing and selling model for home improvement businesses. Today’s marketing is about the content produced to allow prospects to make informed decisions. In the past, home improvement sales were about the pitch – today, that can backfire.

Here’s why “the pitch” is outdated for today’s consumer:

  • Consumers know a lot about home improvement.

    In the past, homeowners relied on the contractor to tell them what they needed. Today’s homeowners have done their research.

  • They’ve been to your website.

    In the past, “visit our website” was a frequent call to action. Now, if a prospect is calling you, they’ve likely already been to your site and have read reviews on your company.

  • They are qualifying you.

    Instead of requesting three different contractors to come bid on their job, buyers are researching 4-5 companies online. Time is of higher value and doing their research online instead of having contractors visit the house saves them time and allows them to figure out which contractor they want to discuss their project with.

  • They don’t want to be sold to.

    Today’s homeowners are educated and have likely experienced the lengthy sales process associated with home improvement companies. Now they want the company representative to give them the information they need up front and be able to make a decision on their own time and not feel any pressure to do so.

  • Reviews are gold.

    If your crew is messy, disrespectful or irritates the homeowner, they aren’t going to keep quiet about it. Online reviews are trusted by 70% of consumers – so make sure you get a good one!

  • Younger consumers ignore call-to-action promotions.

    Consumers are more educated now and are not fooled by sales promotions meant to trigger a response. They value quality work, professionalism and good customer service far more than a Buy Four Get One Free promotion.

Using outdated sales tactics on a more educated consumer is only going to leave you with an empty project calendar. Make adjustments to accommodate the younger population of homeowners and be sure to provide good service and the 5-star reviews with be plentiful.

Read more here.

Note: Use of the terms "Loan," "Lender" and "Borrower" is for ease of reference only. Financings are in the form of retail installment contracts ("RIC").

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