If you are looking to capture the hearts of Millennials and encourage first-time homebuyers to purchase a home, your marketing needs to let the dogs out.
A recent article in National Mortgage News reported that Millennials list dogs as the leading decision in making a home buying decision. In fact, they state 33% of millennials who purchased their first home said they wanted a bigger and better yard for their fur babies. Larger living spaces and building equity did beat out the dog factor with the first and second reasons for buying a home, but marriage and birth of a child are ranked lower than furry friends.
Perhaps this new data will shape the marketing of your mortgage department as you plan out your fall and winter seasons. It’s pretty common to see mortgage marketing target new families, growing families, newlyweds, and even young adults, but it hasn’t been heavy with a canine factor. Now might be a time to try some fun new animal based marketing efforts targeting dog lovers. Regardless of your future marketing efforts, home loans need to be marketed all year long to encourage ongoing growth for your lending department whether you are adding a puppy pal or not.