Marketing Home Products to Today’s Kitchen Remodeling Prospects: 3 Marketing Strategies that Work
Posted by Steve Kleber on Jul 20, 2009
Welcome to the Kleber & Associates blog! Here’s the latest on Marketing Home Products to Today’s Kitchen Remodeling Prospects: 3 Marketing Strategies that Work
As one of my earlier blogs points out, the status of the kitchen remodeling market is promising. Below are three proven marketing strategies to capture market share among kitchen remodeling prospects.
For manufacturers of kitchen products, create products that mirror the desires of today’s consumers – green is key! Improved energy efficiency and water conservation is a major concern that begins with the kitchen.
According to a study conducted by Moen, consumers rated convenient location, low prices, selection of products and customer service as higher priorities than a firm’s environmental consciousness. BUT the good news for green enthusiasts is that more than half (52 percent) still rated a firm’s eco-consciousness as “very” or “somewhat” important, compared to 32 percent who were neutral and only 16 percent who said this was not very important.
While the green movement is clearly growing, one of the key issues with advancing eco-consciousness is the cost associated with going green. Green experts generally estimate that designing a green kitchen will cost approximately 10 percent more than a non-green one.
But the Moen research points out that it’s not just price that drives consumers, but value. Products that conserve water, save energy or provide a healthier living environment offer tangible selling points.
Although the future of the kitchen remodeling market looks bright, homeowners still want enticement. We’ve heard about prominent builders offering to pay for closing costs, so it comes as no surprise that today’s remodelers and designers are offering their own financing options and creating their own loyalty programs. And it’s not a bad idea — incentives are a great way to make homeowners feel more comfortable during the remodeling process and feel that they are getting added value.
In addition, homeowners have the chance to capitalize on tax breaks such as the Existing Home Retrofit Tax Credit. As kitchen product and service providers, educate yourself on the available tax breaks for homeowners looking to remodel.
The future of the kitchen remodeling market will drive the success of the entire remodeling market. When marketing home products, remember to embrace the eco-friendly movement, offer value and provide incentives to your customers to capitalize on leads and boost your bottom line.