When the going gets tough, the tough get going. This old-fashioned saying may seem trite, but the message rings true during these trying times. Now is the perfect time to get going. The economy at large may be in a funk but that doesn’t mean every facet of every industry is taking a hit. With the housing market remaining strong, as evidenced by a surge in new home sales, now is your opportunity to re-engage your brand’s marketing efforts and take market share.
In spite of the lulls seen in other industries as a result of the current economic downturn, the housing market remains a relative bright spot, with numbers continuing to head upwards due to such factors as supply and demand (especially in the low-density suburbs and exurbs) and historically low interest rates. As reported in August, according to Lawrence Yun, NAR’s chief economist, “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days. With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”
This is encouraging news for industry leaders and an opportunity to reach your customers at a time when your brand’s unique voice is poised to penetrate and truly make a difference. Experts argue, in fact, that marketing during a recession is not only prudent but downright imperative. Those who may be dealing with their own insecurities in light of these uncertain times will be looking for inspiration and solutions. Harvard Business Review, for instance, advises that at times when most firms are cutting back on their brand advertising, a firm’s “share of voice increases if it can maintain or increase its advertising budget.”
Here are five great reads on the strong housing market:
Getting the Message Out
By building brand awareness and strategically (and robustly) spending marketing dollars on connecting with your customers now, brand stewards can identify opportunities to not just stay relevant but also to take a leadership position in driving messaging.
Finding the right vehicles to get your message out will be a critical factor in this quest during a time where there is both an overall recession as well as relative strength in the housing arena.
Nimble Thinkers, a full-service agency, is ready and able to build custom programs to help you connect with your customer and meet those targeted advertising goals. Among the many options include custom content, web-based digital advertising, custom videos or podcasts, and lead generation promotion.
What to Do Now
Leveraging the robust housing market to build your brand and stay visible to your customers is smart business—even (and as the experts agree, especially) with the economy as a whole on uncertain ground. The Harvard Business Review, for example, encourages marketers to look at this economy as “an opportunity, because firms who are willing to be what customers need in a recession get to keep many of the new customers they get—and cement the loyalty of those they already had.”
Within the context of the overall economic recession facing the U.S., brands should heed this expert advice to reach out to its customer base through a variety of targeted media and marketing strategies in order to stay top of mind with customers, now and in the future.
As an independent marketing agency with the resources of a leading content publisher specializing in the commercial and residential construction market, Nimble Thinkers is your flexible, clever partner focused on helping to elevate your brand. Contact us to see how we can help!