Building an Advertising Strategy to Connect to Home Improvement Intenders
The DIY and home improvement market continues to grow at a rate of 4% annually and, by 2025, is expected to reach over $569 billion.
Whether the increase is due to rising property prices and mortgage interest rates or limited inventory and competition in many cities around the country, for some, renovating a home can often be more cost-effective than selling and purchasing a new one.
According to a survey by Lending Tree last year, 68% of homeowners had started or completed home improvement projects within the last 12 months, and 63% planned to begin one in the next year. Homeowners are spending nearly $10,000 on average and completing an average of 2.8 projects annually.
These home projects mean consumers gather ideas and shop for home-building materials, tools, and supplies, in-store and online.
By leveraging the strengths of television, streaming, and digital advertising, home improvement businesses can reach their customers across various touchpoints and reinforce their message through repetition and consistency.
Television: The Foundation of a Campaign
Television advertising remains a foundation for a strong marketing strategy for home improvement businesses due to its unparalleled reach and impact. Television enables home improvement businesses to showcase their products and services in action, visually captivating audiences through video. Television also leads the way in advertising response for home improvement intenders, and 63% have responded after viewing an ad on television within the last year.
In addition, niche networks like DIY, HGTV, and Magnolia Network have built dedicated audiences of passionate home improvement enthusiasts. These viewers tune in regularly to watch renovation shows, design competitions, and expert advice segments. Home improvement businesses can reach an actively engaged and targeted audience with relevant products and services by advertising on these networks.
Building Onto TV With Streaming to Target On-Demand Viewers and Cord-Cutters
As streaming continues to gain popularity, home improvement businesses can leverage data-driven insights and advanced targeting options to deliver personalized ads to audiences actively viewing on-demand or repeat episodes of favorite shows, like Fixer Upper and No Demo Reno, and other home improvement content. Streaming platforms enable businesses to meaningfully extend their message to cord-stackers, cord-cutters, and cord-nevers through precision targeting and customized recommendations, driving engagement and fostering brand loyalty.
Digital Advertising: A Powerful Tool for Success
Consumers increasingly turn to the internet for inspiration and information before purchasing. In the last month, 58% of home improvement intenders have searched for home repair information on a connected device. 1
Digital advertising offers home improvement businesses opportunities to connect with consumers throughout their search and buying journey across multiple screens through social media advertising, display ads, and video campaigns. With advanced targeting capabilities, businesses can reach consumers based on demographics, interests, behaviors, and intent.
Each advertising platform has unique benefits; the true power lies in integrating multiple channels to create a cohesive and impactful advertising strategy. For example, a home improvement retailer can target homeowners actively searching for kitchen remodeling ideas or individuals browsing DIY tutorials on social media platforms. While a television ad may pique viewers' interests and drive brand awareness, digital retargeting campaigns keep the brand top-of-mind and drive conversions and action among engaged viewers.
By delivering tailored messages to the right audience segments, regardless of the platform, businesses can maximize the effectiveness of their advertising efforts and drive meaningful results.
Where We Come In
In this ever-evolving home improvement landscape, advertising is pivotal in reaching and engaging your potential customers. From homeowners or DIY enthusiasts seeking ways to enhance their living spaces to property managers looking to improve their investments, our experts work with you to understand your motivations and pain points and help craft your advertising strategy to resonate effectively across television and all connected devices.
We look forward to working with your business to build a cohesive and impactful advertising strategy that drives engagement, fosters brand loyalty, and, ultimately, fuels growth in the home improvement industry.
2023 AudienceSCAN®