Estimates for 2012 are all over the map, and most are cloaked in a waning degree of confidence. How good will your 2012 be? It’s directly related to your sales performance right now. The following is one of a series of quick posts to help local sales teams get a jumpstart on the competition … right now.
There is a huge opportunity for local media today, and it’s hard to miss — because this one is right at home.
As your local economy stabilizes and recovers, several categories related to the home need a high-performance marketing plan to outpace the market. Consider three key pieces of information:
- Homeowners are staying in their homes longer: This is true for a number of reasons, most notably the fact that financial and real estate markets still are thawing out from a deep freeze. When this indicator increases (as it has significantly, up from 6 years in 2008 to 9 years), homeowners are more likely to invest in their homes for the long haul.
- The remodeling market has heated up: Though the average job size is down from its peak, homeowners are considering and/or pulling the trigger on more remodels today than they have in a while. Remodelers are on the hunt for low-cost lead generation.
- Alternative energy is gaining momentum: Homeowners deciding to stay put realize they can tolerate “break-even” points for green investments in their homes. That’s good news, as is the fact that break-even points continue to shrink. There may be other incentives in your area that can boost lead generation, be sure to know if they fit the bill.
Local media reps need to reconnect with this huge opportunity, and demonstrate the value of profitable lead generation through efficient media planning. Some businesses have been silent for a while — and the media landscape has changed since they last made a big decision. They’ll need help putting their arms around the options and making an informed decision. Lead costs continue to rise; proof that flawed marketing decisions are still being made in this super-category.
Just like in the automotive category, there is pent-up demand. Will the marketers be able to meet the challenge? They will, with your help.
Dave Eckstein is a Partner in the firm ESA & Company. He specializes in highly profitable market share growth for local businesses and gets a kick out of demonstrating a declining cost of customer acquisition. He plays baseball, but isn't that Dave Eckstein.