Online Marketing for Small Home Improvement Companies in a Bad Economy
If you run a business that provides home improvement related services, including services such as roofing, landscaping, well drilling, and so on, you're not alone in feeling the impact of slowed consumer spending. These industries have been hit hard in 2024 and (so far) in 2025. Other home improvement related companies across the country are facing the same challenges, as homeowners have cut back on renovation projects.
Below are just a few of many articles from 2024 and 2025 that highlight the decline in home improvement spending, and some that reiterate the need for continued (and even increased) marketing efforts. In fact, if you do a Google search for should I decrease marketing in a bad economy, you'll find plenty of results confirming that marketing should continue or increase during tough economic times.
Also read my blog highlighting some of the most important reasons why you should continue, and even increase, your marketing during a bad economy.
January 29, 2025
In 2025, homeowners are cutting back on renovations due to high interest rates and tight budgets. While industry growth is projected at 5.3%, it's driven by price increases rather than demand. Many projects are being postponed, but a rebound is expected in late 2025, potentially leading to a surge in remodeling by 2026.
https://www.cilio.io/2025/01/29/home-improvement-industry-forecast-2025-and-beyond/
September 18, 2024
When a bad economy sets in, many organizations resort to "playing it safe" and scaling back or halting marketing initiatives. While this may be a "safe" move in the short term, it may be harder to recoup lost brand recognition when the economy turns.
https://www.freshfinance.us/bad-economy-increase-your-marketing/
January 4, 2024
The residential remodeling market is on a decline. Homeowner spend on improvements and maintenance is expected to decrease in 2024 due to factors such as slowed post-pandemic growth, weak housing market, and low confidence in the economy. Even if your marketing campaigns aren't generating leads right now, keep running them. They raise brand awareness, which will be crucial when the time comes that people do need your services.
https://www.usehatchapp.com/blog/remodeling-spend-decline
Look at that dip in remodeling spending in the charts below that starts in early 2023. In the first chart, the 2025 numbers are projected, showing that 2025 may show a very modest improvement in home improvement spending.
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