It seems every planning seminar and conference for the last two decades has been about the impact of the baby boomer on discretionary real estate spending. Now, following a historical down cycle and its tremendous impact on personal savings and investment, many new questions emerge for real estate developers. Although the market segment as a whole makes for promising demographic studies based on shear volume, it takes a closer look to unveil the psychographic profile that will most likely represent the next wave of real estate purchasers. According to the U.S. Census Bureau, a baby boomer is a person who was born during the post-World War II baby boom between the years 1946 and 1964. Over 75 million strong, the market segment includes two generations… Read more »
It’s been quite the summer in Warsaw, Poland. We’ve enjoyed getting to know this country of proud people and its rich history that includes a period of Soviet Communist dominance from 1945 to 1989. Considering Cotton & Company opened for business in 1983, in some ways we had a five-year head start on an entire nation who only became capitalist following the Soviet fall. In contrast, we were humbled to learn that Poland’s Constitution is only second in age to the US Constitution, even though the establishment of a Polish state is identified with the adoption of Christianity in 966, far beyond the American Revolution in 1776. So what brings Cotton to the eastern bloc — JW Construction, the largest developer… Read more »
It’s a question we’ve frequently received. And the issue with answering it, is that it doesn’t totally make sense. ROI is a financial measurement. Marketing channels can be measured in goals and benchmarks, but ROI? Not really. You see, how can you possibly measure the ROI of having email versus not having email? Or the ROI of having a phone line? What about the ROI of the customer service representative actually answering that phone line? Can you measure the satisfaction of your prospect after that well-received customer service phone call? What about the ROI of that satisfied customer telling her friends about her positive experience? The answer is no. Which is why social marketing cannot be measured in ROI. However,… Read more »
A spirit of optimism is on the horizon for builders and residential developers as new home inventory continues to be absorbed and pricing begins to climb in many major US markets. As existing homeowners have the ability to sell their home, builders and developers will feel the effect of liquidity in the marketplace. Yet as buyers across the country return to new home sales centers, real estate professionals are wondering how have their priorities shifted? How has their perception of value been impacted by the lengthy downturn?Has the election cycle delayed their decision? As builders and developers strive to enhance 4thquarter sales results, it is crucial for them to recognize the shift in the market and thoroughly understand the changing buyer psychology…. Read more »
Analytics. Algorithms. Metrics. The new “buzz” words in marketing have hit a hot button with developers who have been seeking accountability in a field previously managed by gut reactions or feedback from the sales office. In today’s world, art is driven by science, providing clearer insight into buyer psychology.
With 95% of new homebuyers beginning their home search online, builders and developers infrastructure planning should not only include density, drainage and utility planning, but equally as important, Internet infrastructure. All too often web development is an afterthought that becomes a focus once the sales and marketing team is brought on board. “While everyone recognizes the importance of attracting homeowners online, building a strong Internet footprint isn’t their primary focus at the earliest stages of development,” says Laurie Andrews, COO of Cotton & Company. “Overlooking the importance of getting started early has a direct impact on the cost of lead generation at the time of the community’s sales launch later on.” Understanding the challenge begins with understanding search engines, especially… Read more »