Is your advertising working❓
How do you know?
Does everyone that could be your customer know you exist?
This is the question that businesses need to ask themselves to determine whether their marketing efforts are working. Has your market heard of you?
Fortunately for in the manufactured housing industry, we know who our core customer base is. Take a look at the charts from 2023 manufactured home loan data below…⬇️⬇️⬇️
There’s your buyer. The largest buying group is ages 25-34, and makes $40,000 to $70,000 per year. There are over 20 million people nationwide in that group, so we’ve definitely got plenty of people that might be interested in a manufactured home.
The next step is simple: Go out into your community and see if people that fit into that demographic have heard of your business.
Not sure where to start? I’ve got you covered, don’t worry. : ) Teachers, nurses, police officers, firefighters, and medical techs all fall into that demographic. Go to where you’ll find members of those professions, and ask them if they’ve heard of your business.
If most (75%+) have heard of your business, you’re doing something right. If most have NOT heard of your business, you’ve got room to improve. No one is going to buy a home from you if they haven’t heard of you. And that is the first step in advertising – ensure that your market knows who you are.
This might seem like a tedious task, but it’s the best way to see if your marketing is actually working like it should. You can boost Facebook posts until the cows come home, put up billboards all over town, line the fence with every lender banner imaginable, and have a promo every month, but if people haven’t heard of your business, you’re going to constantly be in a semi-panicked state looking for the next deal.
Don’t believe me that this is valuable? Have you ever seen anything like the question below on Facebook or YouTube? This is the social platforms doing the same thing. They run ads, then they ask users if they’ve heard of the brands that they’re advertising. If YouTube is doing it, I promise it’s valuable.
If it turns out that you need to get more attention, stay tuned to next week’s email. I’ve got a chart of where the 25-34 age group is hanging out online, and how you can reach them there. The most popular digital platform for the core MH demographic is probably going to surprise you.