Log Buyers Are Outdoors Enthusiasts
By Charles Bevier
If you're looking for baby boomers interested in buying log homes, then look outside. Your best prospects are likely camping, hiking or cruising country roads on Harleys. That's because the same people drawn to log and timber homes are fervent outdoor enthusiasts, according to a new study that predicts which people will actually buy a log home, rather than just fantasize about it.
The analysis of buyer trends was recently revealed at The Log Home Leadership Conference in Scottsdale, AZ, which was produced by Home Buyer Publications (HBP) in Chantilly, VA.
"People love log homes because they provide a connection to nature and sense of sanctuary. We now know through a sophisticated Equifax Lifestyle analysis that buyers are equally as passionate about gardening, camping, hiking and fishing," says Laurie V. Sloan, group publisher at HBP, which is a division of Active Interest Media. "Our industry can use this information to engage prospects more readily and capture more of the baby boomer market, which will likely be moving into their final dream homes in the next decade."
Computer Modeling
Attendees from more than three dozen companies at the conference were treated to a wealth of information on buyer demographics, including household income, age and level of education. To obtain this information, HBP submitted its database of prospects from its magazine subscribers and show attendees to Equifax's computer modeling. Additionally, eight log home companies submitted the names of their buyers, which gave researchers the homeowner lifestyle and buying trends. "Compared to the general population, log home buyers are twice as likely to earn between $100K to $150K and three times more likely to earn more than $150K," says Nate Fristoe, director at RRC Associates (Boulder, CO), which was commissioned by HBP to perform an analysis of the Equifax results.
In addition to demographics, a dozen speakers at the conference made presentations on key growth opportunities for the log home industry, including best practices for discussing maintenance issues with consumers, capturing the attention of more builders to turnkey homes, working with developers and understanding boomers' buying motivations.
Attendees found the information enlightening. "This was very valuable information that we can use to market our products successfully," says Darlene Branim, president and CEO of Barna Log Homes.
David Gordon, president of Katahdin Cedar Log Homes (Oakfield, ME), says, "The conference gave us all a forum to discuss our problems and it's the best place we've found to come up with proactive solutions."
Steve Quarles, senior vice president of marketing at Southland Log Homes (Irmo, SC), says the demographic information helped fill gaps on who buys log homes and why. "I also enjoyed Tom Jewell's discussion about marketing our products to realtors, which we're already doing at Southland. His comments about the baby boomers, the first of whom are turning 60 this year, were very good reminders of the new- and second-home opportunities that all of us in the log home industry should work to capture in the years to come."
Jennifer Grimes, marketing manager for Precision Craft Log Homes, says it's clear from the conference that the industry is changing direction to meet a new set of challenges. "Focusing on builders and developers will be essential to our success. The most promising result is the opportunity to evaluate what we know and what more we need to know. Good research always evokes more questions that need to be answered."
Want More Info?
Want to get your hands on this kind of sophisticated research? Then attend the next Log Home Leadership Conference, tentatively scheduled for November 2007 in Lansdowne, VA.
The conference was initiated in 2005 as an invitational, but it is now expanded and HBP is encouraging all companies interested in growing this market to attend.
"Working together, we can capture more of the custom home market in the United States," says Sloan. "While our industry is a small percent of the home building market, if we can grow significantly it will be keenly felt by every company that touches this industry."
If you're interested in attending, e-mail lsloan@homebuyerpubs.com or jvarda@homebuyerpubs.com. |
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