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January 30, 2024

Get to Know Your Buyer: Jan 2024 BTH Recap

Too often we forget to include the buyer in the buying process. We collect data and averages surrounding our product but fail to recognize the very real, very important human element of the sale.

So, what if we reframed this mindset to put the buyer at the center of it all?

This month at Builder Town Hall we had the pleasure of chatting with Bob Moesta, CEO and Founder of The Re-Wired Group and author of Demand-Side Sales. After a fruitful discussion about his unique sales perspective, we discovered the importance of getting to know our buyers.

Read below to understand how embracing the multi-faceted home-buyer experience can allow you to be exactly what they seek.

Define the Struggling Moment

Humans are creatures of habit. Our collective resistance to change poses an interesting challenge: to get people to buy a product, you have to convince them that they want to change.

To uncover the root of this desire, it’s important to talk to people who have recently decided to buy a new home. In speaking with new homeowners, you’re able to define each individual’s “struggling moment” or the moment that pushed them to realize their situation wasn’t manageable anymore. These patterns can inform how you approach your current buyers so you’re able to give them exactly what they need.

Define the Context. Become the Outcome.

At the end of the day, consumers are seeking an outcome. When somebody buys a new mattress, they aren’t just buying a mattress, but also a good night’s sleep. When somebody buys a home, they are also buying somewhere to relax, raise a family, host events for their loved ones, and make lifelong memories.

When you understand your buyer’s context for purchasing a new home, you can ensure that you can offer them the best outcome. Rather than playing a guessing game, talk with your buyer and with past buyers so you can be ready and willing to adapt to their needs.

Understand ALL the Competition

Your competition is a lot broader than you might think. Oftentimes we fall victim to the false narrative that our only competitor is other new-build homes. Unfortunately, there are a lot of other elements within the buyer’s life that you are competing against — used homes, rentals, nonconsumption, and other factors beyond your control.

Once you understand your competition, you can more accurately market yourself. Find what purpose each of your competitors serves and focus on advertising the unique purpose your product fulfills rather than just the product itself. Discover what your product is the answer to and pose that question to your consumers.

Know Their Preferences

Everything in life requires give and take, especially such a monumental decision as buying a home. Get to know your buyers to fully understand what features and preferences they are willing to sacrifice for others. Frame your trade-offs in a way that is appealing to the buyer and convinces them that you are worth the investment.

Be Patient with the Process

The buying process is not linear. It also takes time, effort, and a lot of patience. It’s imperative to progress a buyer through each phase of looking: passive, active, and deciding. Each phase requires different approaches that may vary slightly from individual to individual.

It’s important to understand that we don’t possess full control over our buyer’s progress through the phases. Many external factors can cause buyers to shift from phase to phase. You should never attempt to rush a buyer along or skip any part of this process. Patience, adaptability, and an understanding of your buyer’s circumstances will ultimately help you succeed.

We look forward to seeing you at our next Builder Town Hall. Register now to join us on February 2 for more incredible industry insight. In the meantime, be sure to join our Builder Town Hall Facebook Group and keep the conversation going!

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