How Women Influence the Building Industry
Last week I gave a presentation for the Pacific Coast Builders Conference (PCBC) in San Francisco, and then I hung around a bit to learn more. In addition to the fun evening at the brewpub pictured, I got a feel for the ways women are already influencing the industry - and where still more attention might be paid to them:
Green/sustainability - According to a March 2007 Autodesk "Design for Living" survey, a huge majority of Americans (87%) think it’s important for new building constructions to be green (healthier and more resource-efficient). In particular, a whopping 90% of those aged 18 - 29 ( the homebuyers of tomorrow!) believe that. Who first started to ask pointed questions about "green-ness" in previous years? I’m guessing women likely represented the cutting edge for consumers on this front.
Healthy communities - One of the PCBC sessions went into much detail about what defines a health community, on a variety of levels. If I could give you one word to impart what I got out of it? "Walking." New developments and communities are being designed all around making sure that there are paths that go places (not just paths to nowhere), playgrounds that other kids can see when they walk by (so they know if their friends are already there), schools built within the development - specifically within walking distance of all lots, partnerships with YMCAs or the like to teach swimming and fitness classes at the community’s centralized fitness center, and so on. I am reading a new book by Ron Rentel about today’s consumer profiles (which I will review on the 800CEORead blog within the next couple of weeks) that points to the new "Karma Queen" and "E-litist" C-types, both of which I’d say were part of this drive toward health-aware living.
Affordable homes are a priority - McMansions have gotten to be the rule, it seems - so it may be harder for builders/developers to take a step or two back and downsize. I spoke with a few people at a PCBC breakfast last week who are bravely doing just that - developing the "lower range"/affordable properties (for California, that is something like $300K to $450K), and feeling good about serving a market in serious need. With energy efficiency and walking becoming more important for women and their families, their buying minds might be particularly interested in smaller footprints in every way - including keeping their mortgages manageable for the longer term.
Their marketing is still old school - While, like every industry, there are those mavericks doing some great storytelling through their marketing campaigns, many builders/developers still don’t understand that today’s home buyers seek more emotional connection and context around the linear facts of their purchase. Women significantly influence home purchases, if they aren’t buying the homes on their own, so advertising has to be all the more relevant to their lives. Rather than posting bullet points or pitching the usual incentives, many an ad agency in the building industry would love to tell stories and leverage emotion - but, as I heard from a few of the agency folks who were in attendance, not too many companies are willing to risk doing things a new way, yet. There is no time like the present, however, for this industry (and a lot of others) to get on the bandwagon by making storytelling an integral part of their marketing.
All in all, the developers and builders I met seemed hungry for new insights and motivated by the challenges of serving today’s more demanding home buyers. And - a few of the audience members from my session seemed interested in using a customer advisory board to learn more about what women, specifically, are after. If they get back to me about their results, I’ll let you know.
