People buying property for the first time is at a 20 year high. Recent research from Halifax suggests that the new UK average age for first-time buyers getting on the property ladder is 32 when 10 years ago, this number was just 29.
Meet them where they are
The first mistake lots of people make when deciding which social media platforms they should be on, is to guess the demographic that uses the platform based on their own preconceived notions.
For example ‘TikTok is for young people doing silly dances’.
Well, yes. But it’s also for a lot of other things. Let’s take a look at some stats.
In 2019 there were 6 million active monthly users in the UK, and 24.5% of those were aged 25 or older. That’s nearly one and a half million people, all within a good age range to be first time buyers.
Another useful statistic is that the average UK user spends 41 minutes a day scrolling through TikTok. That’s potentially 41 videos that are one minute long.
And it’s not just for silly dances! There are accounts on TikTok that provide knowledge on everything from DIY how-tos to information about getting mortgages.
With those facts in mind, all of a sudden it becomes less of a silly idea that TikTok could be a good platform as part of your digital marketing strategy to reach first-time buyers.
In 2021, 40.2% of Instagram users were aged 25-34, and adult Instagram users spend nearly 30 minutes per day on the app.
This highlights the importance of having content across all of the different features: stories, reels, videos, and grid – that way you have more chance of capturing someone’s attention in their 30 minutes, no matter how they spend them.
Another brilliant stat from Instagram is that 58% of users are more interested in a brand after seeing them in stories. This means it’s a great way to connect with your audience, and there are stats to prove it. These days, people are picky with companies they want to work with, based on the ethics, and ‘personality’ of that brand. This is why Instagram stories are great, they tend to be a bit more behind the scenes, lifting the veil and giving an insight into the people they might be working within the event of a house purchase.
Age is just a number
The stats involving age groups are only useful up until a point. If you have properties to market to first-time buyers, only marketing them to 30 year-olds would be daft. So while the ages are useful for telling us what platforms your audience visits frequently, what it doesn’t tell us is exactly where they hang out.
Something that is useful when it comes to looking for your ideal audience, is thinking about what sort of person they might be. If they’ve spent a number of years saving for a house deposit, then they’re probably going to be financially literate and into money/ investment content. If they’re looking for a do-er upper, then they might be interested in home renovations and DIY tutorials.
A useful exercise is thinking about all the different things they might be into (adjacent to their home purchase) and taking a look at some of the content in these niches. It might also be a great way to join in with comment sections e.g. on a 1930s renovation project video. ‘We’ve just had a similar property come up not that far from you, we’ve posted some pics on our page – it’s great to see what it might look like after a bit of TLC!’
Playing the long game
It’s also important to remember that first-time buyers are usually chomping at the bit to get started with their search. This means they’re likely to start looking a little bit before they’re able to buy.
When you come to planning your content, bear this in mind and factor it in when you think about all of the different stages a first-time buyer might be at in their journey. If they like what they see from you, they’re more than likely going to remember you and come to you first when they are completely ready.