Hanley Wood has expanded its data services to the consumer market. With the launch of its OnTarget consumer intelligence platform, the company can now connect its construction equipment and manufacturing customers with supply chain end-users—the folks who are looking for homes to build or remodeling their kitchens.
In effect, says Hanley Wood CEO Peter Goldstone, the company is now able to not only match up buyers and sellers in a business-to-business context, but adds in the consumer buyer as well.
“Marrying our data with consumer data to own the B2B supply chain and consumer activation is ground breaking,” he says. “Then marrying the data solution with the marketing services solution is the full end-to-end consumer targeting activation strategy.”
OnTarget’s main purpose is to collect and provide data to the trade on buying trends down to the household. Hanley Wood’s MetroStudy group has collected 10,000 data attributes on more than 100 million of them.
Using the service, Builders can identify consumers who are shopping for homes or are planning to remodel an existing one in a particular region. “Instead of buying a billboard on a highway, they get specific households to target,” says Goldstone.
Beyond that, the MetroStudy/OnTarget product captures the B2B holy grail—providing crucial, must-have insights that customers can’t get anywhere else.
MetroStudy has managed to smooth out the data challenges inherent in a market as complex as construction.
Andy Reid, Hanley Wood’s head of digital, explains: “At the heart of this complexity is the sheer volume of residential properties in the U.S., 100+ million in aggregate. Coupled with this sheer size is the fact that there is no one standard set of information about residential properties that span the entire U.S. Every state, county and municipality each has their own standards for reporting information about those residential homes.”
Others have been trying to crack this data challenge, too. Reid points to the emergence of services like Zillow that target the resale market with its pricing algorithm.
But the new construction market has been relatively underserved from a data perspective. “As a result, industry participants have had extremely limited information with which they can use about the marketplace,” says Reid.
MetroStudy has been collecting supply and demand data at the regional level, but the OnTarget launch adds consumer segment data to the mix.
“Up to this point, this data has not existed in the new residential construction market,” says Reid. “The exciting part is that consumer segment level data unlocks a vast array of targeted marketing execution capabilities that we can deploy for clients allowing them to achieve much higher levels of ROI on their marketing spend.”
So for Hanley Wood, the new service enables the one-two punch that marketers are so desperate for these days—targeted execution and ROI. And the icing on the cake is it opens up a new way to capture marketing dollars for HW.
“It provides a totally unique proposition for Hanley Wood to go after the huge consumer marketing spend of our existing B2B clients that we previously didn’t have a proposition for,” says Reid.