22 Apr Successful Builders Listen To Their Consumers
A recent BuilderOnline.com article provides us with a solid case study on how to sell homes during a recession. The funny thing is that this particular builder did it by increasing his prices. No doubt a risky move but he had a plan and a good reason. Be sure to read the article here. I think this is a good blue print for how we should be embracing consumer wants.
The article makes several key points when it comes to adding value to your product. The most interesting and beneficial information given has to do with initial building costs. According to the article, homes in this community cost the builder somewhere in-between $10,000 to $15,000 more to build once he began incorporating these new details to his homes.
The reported results were nothing but positive.
There are two things that I really liked about this article in regards to the building strategy described.
First, the builder was smart enough to realize that he needed to listen to his consumer. He did this by going to seminars and consulting sessions to learn what his specific consumer wanted in a house. He didn’t just provide these special home options; he included them from the start. The article compares this strategy to selling a luxury car. There is no need for options because these homes will already have everything you need.
The other is that he was willing to invest in his product and resist the urge to sell at a lower price point. This is proof that selling strictly on lower price points isn’t always the answer to increasing sales during hard times. By investing back into your product, you’re giving consumers something worth investing in.