Issue link: https://read.dmtmag.com/i/696291
JULY 2016 20 THE JOURNAL Marketing to Millennials – We Need A New Message BY SCOTT STROUD MARKETING CONSULTANT These are exiting times for the manufactured housing industry. The market and the economy are back, we've seen five years of consistent growth, and last year we shipped an estimated 70,000 homes to new buyers. New families are being formed at an increasing rate and unem- ployment and wages are recovering, allowing more buyers the ability to buy a new home. And with the scarcity of existing homes available on the market, that means potentially more mar- ket share for us. What does the future hold? In a word: op- portunity. At least, there is a window of oppor- tunity open now – how long it will remain open is anyone's guess, but most projections are that we can expect relatively smooth sailing for the next five years or so. However, to take full advantage of that op- portunity, we're going to have to make some changes. A new generation of buyers is taking the driver's seat, and their wants and needs are different from those of their parents. The emerging group, now in their 20's and 30's, will dominate the market for the next decade. And if you want to keep selling, you're going to have to do it their way. The good news is that Manufacture Housing, in my opinion, is almost EXACTLY what younger buyers are looking for – they just don't know it yet! Yes, the design of our homes must evolve to adapt to new buyer preferences, but even more importantly, how we develop and deliver our message must change radically to at- tract a new generation of homeowners. The Millennial Mindset First, younger buyers have a different con- cept of 'home' than their parents. Rather than looking at the family home as a long-term in- vestment and a way to build wealth, Millenni- als are more likely to 'live in the moment' and consider their investment to be of shorter term. That 'moment' puts high emphasis on recre- ation and freedom rather than on putting down roots and investing time in home maintenance and upkeep. They want their home to be an ex- tension of their freedom, not an anchor that keeps them from doing what they want, when they want. Again, with a little ingenuity, both our homes and our communities can accommodate everything younger buyers want in a home. But reaching them with this message is the real challenge. In fact, many 'older' brands are scrambling to meet the challenge of remaining relevant to a new generation of buyer. Con- sider for example Buick. Buick is rapidly reinventing itself and its mes- sage. The message is evident in their current campaign, "That's not a Buick!" The theme emphasizes the dramatic changes the carmaker has made to attract younger buyers – sleek styling, a sporty image, even a convertible model! They have do connect with younger buyers or face the fate of their sister brands, Oldsmobile and Pontiac (RIP). Honestly, our message needs to be similar: "THAT'S not a mobile home!" And, of course, we must back the promise up with styling and function that appeal to our new target audience. And here are some of the features that will capture the interest – and the hearts – of the Millennials: 1. Curb appeal. Younger buyers have grown up in the Age of Apple, where form and design are integral with function and ease of use. If a product is not attractive, interesting and func- tional, it is summarily dismissed. This influence extends outward to every purchase, large or small, but particularly to their homes. Our homes offer exactly what they are looking for in- ternally, but the exteriors will need to continue to evolve to capture the interest of this genera- tion. Boring is simply unacceptable. 2. New, fresh and current design, particu- larly in their kitchens and baths. Clean con- temporary lines and current textures and colors are imperative. 3. Big kitchens and open floor plans. Formal living rooms are a thing of the past. Instead, give these buyers flex space to make their home what they want it to be. 4. Home Offices. More than 13 million Americans work from home, and that trend is growing. Show them how your home supports their work habits, and you're one step closer to the sale. 5. Location, location, location! Younger buyers prefer to be closer to the center of activ- ities – work, public transportation, restaurants, parks, etc. Their recreation tends to be more active than older buyers. 6. Low Maintenance. Millennials just don't have the time or interest in maintaining a home. That includes yard work too. They buy homes that require little upkeep and that don't challenge their play time. 7. Tech-ready. Not only must your home include the latest technology (Smart Home; charging stations, and every corner wired for cable), you'll need to think ahead and plan for new technologies on the horizon. The ability to control their security system, thermostat, water heater, etc. from their phone isn't optional, it's expected. 8. Energy Efficiency. With limited budgets and energy costs on the rise anything you can do to make your homes more affordable to op-