Our primary target market is homeowners. Specifically, those who need home repairs and improvements.
Based on our experience worldwide over our three decades of trading, we have insight into the typical levels of consumer adoption of home assistance policies which enables us to segment homeowners into three groups.
- Want to avoid the disruption of dealing with a problem in their home.
- Like to budget carefully and avoid unexpected repair bills
- Tend to be an older demographic, often on fixed incomes.
This segment constantly renews as homeowners' circumstances change. Many buy a policy when they retire, and only give it up when they move into sheltered accommodation. There may be a demographic shift in this segment as younger homeowners accustomed to subscriptions in other areas of their lives - Spotify, Netflix - consider buying a policy, having been targeted through direct marketing and social media.
- Have the knowledge, skills and motivation to carry out repair work themselves
- These homeowners may call on a third party for jobs requiring specialist skills, equipment or qualifications
In most countries, there are fewer confident DIYers and younger homeowners are less likely to live closer the support network provided by their family.
- Find a trade when needed - by word of mouth, paper directories and increasingly online
- Finding a high quality trade with hassle is often just as important as financial considerations
- Typically appeals to a younger demographic whose instincts are to search online
There is big growth potential when we look to where consumers in other industries spend their time and money today compared to what we see in home services.
This segment is increasingly moving online, initially to 'online word of mouth' like community Facebook groups, but eventually to platforms which match consumers and trades.
For more market analysis, see our latest Annual Report.