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Home Ownership Segmenting

Determining home ownership status of your audience is a valuable tool for targeting certain programs and products

There are programs and products that have more value or higher adoption rates when targeted specifically to home owners or renters. For example, EV ownership is currently heavily adopted by drivers that have the ability to install a charger at their home. A home owner has more control over installing green appliances or electrifying their home as compared to a renter. Renters with higher incomes are a great target for a first time mortgage product. To capitalize on this, the BlastPoint Platform allows you to target your customers based on their home ownership status. 

Putting it All Together

  1. Build a segment for owners
  2. Build a segment for renters
  3. Create an exploration to analyze attributes for each segment
  4. Uncover insights and determine the best channels for each segment
  5. Craft targeted messaging and execute your campaign

Step 1:

Segment 1 - Homeowners

Step 2:

Segment 2 - Renters

Step 3:

Navigate to the Explore tool in BlastPoint. Select the "Homeowners" and "Renters" segment and choose relevant attributes to analyze, such as age, income, usage, and communication.

Step 4:

Analyze the visualizations for each segment to identify key insights and differences between owners and renters.

Example: You might find that homeowners tend to be older, have higher incomes, while renters are younger, and more price-sensitive.

Step 5:

Develop tailored messaging for owners and renters, addressing their specific needs, preferences, and motivations for adopting the program/product you want to target to them.

Execute your campaign using the identified channels for each segment.

Monitor campaign performance and adjust your strategy as needed based on engagement and enrollment metrics.

Conclusion
By analyzing the demographic and behavioral differences between owners and renters, you can uncover valuable insights to inform campaigns for your products that benefit from home ownership status. Crafting targeted messaging and selecting the right channels for each segment will help you effectively reach and persuade your customers to convert.