Here's How to Attract the Right Homebuyers for Your Business

You’ve just built a beautiful new home, but the people in line to purchase don’t qualify or want a ton of changes/upgrades/downgrades. Instead of altering your craftsmanship and build process to suit the desires of your buyers, consider how you and your business are positioning yourselves in the eyes of potential customers.

Define Your Audience, Define Your Customer

You know what you do best and you know your customer. If you can’t answer either of these questions, then you need to take a step back and do a bit more research.

Maybe you are a new builder and haven’t found your groove or you just simply market to homebuyers in your area based location. It’s time to dive deeper into who your buyers are. The more effort you place in determining who your audience/customers are, the better and more targeted your results will be.

We can save market research for another time, but for now, let’s move ahead to defining your audience.

Start with Your Ideal Customer Profile

Your Ideal Customer Profile (ICP) is another way of saying, your target market. Your ICP can contain buyer demographics, socioeconomic, psychographic (hobbies/interests), location, and needs. These are broad categories, but once you see the crossover between these areas it can quickly narrow down.

Here’s an example of how targeting an ICP is helpful. If you place ads in a local newspaper that has a circulation among lower-middle class families, but your homes are in the affluent price range, then you will have a disconnect in the ICP you are trying to attract.

Another example is building a home at a price point in an area that doesn’t have buyers who are looking at that price point. Location is nowhere more important than for a home builder when determining their ICP.

These are basic examples, but you get the point. Nail down your ICP starting with household income, first-time buyers (yes/no), kids (yes/no), single or married, and whatever other factors you need to help segment your buyer.

Buyer Personas are More Fun

Once you’ve nailed down your Ideal Customer Profile (ICP), it’s time to get even more specific. That’s where buyer personas come in. Think of a buyer persona as an actual person—someone who embodies the different characteristics of your ideal customer. You’re giving them a face, a name, and even a backstory, so when you create marketing materials or make business decisions, you’re thinking about their needs and interests on a more personal level.

How to Build a Buyer Persona

Here’s how you can start building out buyer personas that reflect your ideal customers:

1. Identify Key Demographics: Begin with basic demographics like age, gender, income, and family status. These are essential to determine the context of your customer’s life. You already have this from your ICP.

2. Dive Deeper into Psychographics: Understand their lifestyle choices, hobbies, aspirations, and pain points. For example, if your ideal customer is an executive who’s always on the go, their home needs may include convenience, low-maintenance landscaping, or smart home tech. An active family or one with dogs may value a pool or yard space.

3. Create a Story: Take it a step further by assigning a name and writing a small backstory for each persona. For instance, “Sarah is a 40-year-old working mom who values functionality, smart design, and a quiet neighborhood.”

4. Define Challenges & Needs: Identify specific challenges your personas face. For example, is Sarah looking for a home with a playroom or space for a home office? This makes your messaging laser-focused on what matters most to your potential buyers.

Action Items to Implement This Week

To wrap things up, here are three action items to take away:

1. Create Your ICP Worksheet: Use the steps above to define your ICP. Keep it simple and clear, focusing on factors like household income, family status, and key demographics. The clearer your ICP, the easier it will be to target them.

2. Map Out Two Buyer Personas: Get your team together and create at least two detailed buyer personas that represent your ideal customers. Don’t skip the backstory—it’ll help you keep these personas top-of-mind in all your decision-making.

3. Evaluate Your Current Marketing Channels: Look at where you’re currently marketing your homes and assess if your efforts align with your ICP and buyer personas. Are you advertising in publications and using platforms that your ideal customers frequent? If not, it’s time to realign.

Final Thoughts

Knowing your ICP and creating well-rounded buyer personas is essential to successfully positioning your home-building business. The more defined your audience is, the more focused your marketing efforts will be—and the less time you’ll spend trying to convince the wrong buyers to see the value in your craftsmanship.

Remember, attracting the right homebuyers starts with understanding your target and building your brand around their specific needs and desires. Implement these strategies today, and watch how your marketing efforts transform.

Catch up on other issues from the Builder Playbook to optimize your content marketing strategy.

To better building!

Timothy