When preparing a marketing plan, one of the most important steps is researching the market and finding the patterns and practical numbers. Thus, the markets can define their target audience segmentation and deliver their message successfully. Although there are numerous opportunities in Canada for real estate businesses and construction companies, I will come up with valuable and vital statistics and numbers that bring up the importance of marketing research and analysis for a good marketing plan. Since segmentation is the key to marketing, such information can help companies and marketing managers increase their chances of success to have the best ROI from their marketing budget.

Age of the potential customers

According to NerdWallet, 36 percent of Canadians aged 35 to 44 plan to buy their house in the next three years. One of the most critical aspects of a marketing plan is targeting the proper and beneficial categories of society. The younger ages also tend to buy their home in the next three years, which is an excellent opportunity for real estate and construction businesses to consider the needs of these segments.

The reason for customers’ investment

Since millennials and younger generations are shaping the market’s future value, their statistics should be paid attention to make the most of the marketing budgets, especially in Canada’s real estate and construction industries. Forty-seven percent of people between 35 and 44 believe buying a home is a good investment. A good investment is an excellent reason for a customer to be a suitable audience for digital marketing or a marketing plan. When it comes to investment, people need to feel at ease for their future, and this is where the business can solve their problems. According to the statistics, millennials are now the largest generation in Canada, with over 23 percent, which is higher than baby boomer percentages for the first time till 2023.

Looking to the future, the next three years will be significantly crucial for most real estate and construction businesses to grasp the attention of this vast portion of society. Regarding a good marketing plan and innovative new tools, companies in this field can look for spaces that can influence the customers and help them find their homes or make a good investment. Finding a segmentation in society is crucially important; however, if the companies cannot deliver their messages to the customers at the right time and place, they will miss a huge opportunity.

Eighty-five percent of millennials like to buy from the brand they follow.

A marketing plan creates the best ROI for the company. Considering this critical point, market research is crucial as the first leg of the marketing planning process. If a real estate company considers the habits of its customers and target market, it will be able to create a competitive advantage and get ahead of its competitors. As mentioned before, the percentages of millennials can hugely affect the market’s future, and one of their habits is to trust the brands they follow on social media platforms. Attracting more followers for the companies on social media can help them increase the chance of engagement with different marketing strategies and enjoy the increase in the conversion rate.

Without a doubt, this is an unprecedented opportunity for all businesses to shape an integrated marketing plan, create channels of communication on social media platforms, and increase their chance for more profit and better services. A broad spectrum of strategies is available to help companies create engagement with content creation strategies and tables.

C-levels and VP levels, influenced by social media

Regarding marketing, the connection of the tools to deliver the company’s message to its target audience is crucially important. Speaking of social media and digital marketing, different marketing channels are the tools to help the companies send their message and evaluate it at the end of the project.  Regarding the portion of millennials and their interest in social media, some of the essential parts of society can be potential target audiences as well. HubSpot claims that social media hugely influences 84 percent of C-level and VP-level buyers in finalizing their purchasing decisions.

Again, there is a segment, and the company should find the right channel to send its message and grasp its attention. LinkedIn is one of the best channels for finding this category of society and targeting them for ads and digital marketing strategies. On this channel, several options exist to collect enough information about the target audience and designate the target with unique details based on their needs. Thus, considering social media’s influence on this social media category, the tools suitable for B-to-B marketing will be beneficial. However, the segmentation and channels could be effective if a marketing plan has been set according to the right goals.

Repeat client Rate

Maybe the final purchasing decision is the last part of the consumer decision funnel; however, according to the statistics in the United States, around 67 percent of clients are repeat clients. Therefore, a company can conclude that the high or cheap services have brought the customer back again. Although this is a fair conclusion, the role of marketing after the last step of the customer purchase decision is crucial. One of the most important channels to help customers make decisions faster and better by helping them with email marketing strategies. E-mail marketing can still generate a higher ROI for companies if the strategies are set correctly and effectively.

To wrap up the topic, this is just part of a chain of marketing planning and decisions that can help real estate, and construction businesses make the most of their budget in this competitive market. Researching the market is the first step when making a marketing plan, and a wide range of activities are involved. Then, the company can prepare the message it wants to deliver to the customers or target audiences. After these steps, a marketing manager can precisely determine the channels and tools to deliver the message to get the best feedback. After all these steps, a company can evaluate its marketing plan and its outcome.

For example, in this article, I mentioned the concept of the target audience, their segmentations, and where a company can find them to deliver the message. Evaluation can be done after implementing the marketing plan. To put it simply, I concentrated on the part of potential customers and revealed the importance of millennials, their portion in society, and their intentions for the next three years. Also, I learned how a marketing manager can find suitable channels. After seeing the proper channels, there may be opportunities to target new audiences with new tendencies, such as C-level and VP levels in society. The message is there to be delivered and bring profit.

resources: hubspot.com, Nerdwallet.com