Although demand for home remodeling and improvement or repair services has cooled in recent months, Q4 2022 offers home services marketing opportunities to reduce cost per lead and acquire new customers. Gains in remodeling expenditures are projected to decrease as much as 7% by the 2nd quarter of 2023; however, spending growth for home improvements and repairs is expected to remain well above the industry’s historical average of 5%.
As we enter Q4 of 2022, nearly 20% of U.S. consumers are planning major home improvement or repair projects or to purchase home appliances within the next 90 days.
The most common issues homeowners are addressing?
- Drafty windows and doors (44%)
- Uneven heating/cooling (35%)
- Outdated HVAC systems (35%)
Now is the time to ramp up your home services marketing efforts to engage these consumers and finish the year strong!
Lower Your Cost Per Lead with Multichannel Home Services Marketing Campaigns
The average cost per lead for home improvement and repair providers often exceeds $100 and varies widely by service type, from $85 for general home improvements and repairs up to $275 for HVAC service providers. A multi-channel approach with online and digital raises awareness while direct mail increases activation and purchase intent, helping providers acquire customers at a lower cost.
Mspark’s unparalleled relationship with our national audience in the small towns and rural communities we serve stems from the value they place on our direct mail solutions. This relationship enables us to create offer-driven action for our clients. With consistently high response rates, our direct mail advertising solutions are the foundation of an effective multichannel marketing strategy.
Did you know?
- Print drives up purchase intent 175% more than digital campaigns alone.
- Print initiates online engagement: 61% of consumers visited a retailer’s website after receiving a print ad.
- Consumers who receive both print and digital ads are more likely to notice them (52%) and—more importantly—to remember the message (52%).
When print is boosted by the extended reach of digital ads, they create a truly powerful combination that drives results.
- Increase response as much as 30% by pairing print and digital ads.
- 60% of consumers are more likely to make a purchase after seeing an ad offline and online.
Check out our home services case studies to learn how other clients have achieved results from a targeted, multichannel home services marketing approach. Connect with us today to plan your strategy.
Sources: Remodeling Growth Cooling, Despite Projected Gains”, Qualified Remodeler, July 2022; ² Mischa Fisher, chief economist for Angi, July 2022; angi.com; Prosper Insights & Analytics; Invoca.com; Millward Brown Print Campaign Analysis; USPS Consumer Mail Moments Spring 2020, Summit Research; Valassis Awareness to Action Study; Connecting for Action – Canada Post Neuroscience Report; Valassis Purse String Survey