Cutting-edge research conducted by Wick Marketing sheds light on the “post-rate hike buyer” attitudes and reveals opportunities to meaningfully improve the new home buying experience
AUSTIN, TX, June 05, 2023 /24-7PressRelease/ — Groundbreaking new research from Wick Marketing, a strategic marketing agency based in Austin, Texas, indicates 78% of new home buyers who purchased between November 2022 and March 2023 felt stressed, unsupported and even regretful about their new home purchase decision.
Findings from the study involving hundreds of homebuyers and prospective homebuyers across the United States were presented on May 25 at PCBC 2023, the largest homebuilding trade show representing the west coast region, in a session titled, “Beyond Buyer Profiles & Demographics: Who is Buying Homes Now and Why.” Led by Barbara Wray, SVP strategic growth at Wick Marketing, with Susan Baier, founder and president of Audience Audit, Inc., the presentation provided actionable insights for homebuilders and developers to improve the effectiveness of reaching, resonating with and converting ideal prospects.
“For an industry that works so hard to help people find the home of their dreams, we were stunned that only 22% of homebuyers surveyed said they felt confident and satisfied,” said Wray. “The builders’ competitive power now is in proactively providing the information and support that the research shows buyers are asking for – but are not getting.”
Wick Marketing commissioned Audience Audit to conduct the study to gain a comprehensive understanding, backed by statistically significant data, of the attitudes and perceptions of homebuyers when it comes to choosing a builder and purchasing a new home in a market that has included 10 interest rate hikes, inflation and other challenges. The study took a unique quantitative approach to uncover different attitudinal segments within the buyer audience. These segments encompass individuals who hold distinct, but common, perspectives on the home buying process, their confidence levels, their degree of trust in builders and real estate agents, as well as their priorities in the homebuying experience.
“There’s a unique window of opportunity right now for builders to differentiate themselves in the marketplace by becoming the homebuyers’ most valuable resource,” said Wray. “Buyers are asking new home builders to provide a better experience.”
Conference attendees were granted access to the presentation deck, as well as a fully interactive visualization of the research results, allowing them to explore, filter and utilize the data to enhance their marketing and sales efforts. To further benefit industry professionals, Wick has made the research deck and the free interactive tool publicly available at: https://wickmarketing.com/research. Additionally, Wick will host a free webinar on June 29, 2023 at 11 a.m. CST.
About Wick Marketing
Established in 1995, Wick Marketing is a strategic marketing agency in Austin, Texas, offering both digital and traditional marketing services, with expertise in developing and reinvigorating brands. Decades of productive client partnerships in the highly regulated real estate and insurance industries, as well as a service commitment to create a worry-free zone for its clients, differentiate Wick from other agencies. Representative clients include Crown Community Development, Framework Group, GFO Home, Texas Mutual Workers’ Compensation Insurance and Tri Pointe Homes, Inc. For more information, please visit www.wickmarketing.com.
About Audience Audit
Susan Baier is the founder of Audience Audit Inc., which specializes in quantitative attitudinal segmentation analysis to help organizations better understand their ideal prospects. A strategic marketer and researcher for nearly 40 years, she holds an MBA in Marketing and Entrepreneurship. Susan has conducted research for Gap, Pella, Jayco, AT&T, DMB, David Weekley Homes, multiple universities, healthcare systems and retail brands, and regularly presents attitudinal research results at conferences around the country.
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