It’s no surprise that new movers are a lucrative segment for many businesses. They’re known for spending money — and everyone is in competition to earn their dollars.
A recent Zillow survey found that 21% of movers spent $10,000 or more on products and services as a result of their move, from moving supplies to home improvements and furnishings. And now that these highly creditworthy buyers have the keys to their new homes, movers are still in need of local healthcare, daycare providers, restaurants, dry cleaners and more as they get established.
So why not reach them as soon as they hit their new neighborhood, just as they’re forming their spending habits?
New mover data: Know who you’re welcoming to the neighborhood
According to Move.org, roughly 35.5 million Americans move each year. That’s a lot of potential customers looking to build new relationships. New mover data can help you find out more about the consumers who are likely to spend money — and help you plan your segmentation and customer acquisition strategies accordingly.
In acquiring the right data, it’s important to compare different sources and test files to make sure you’re getting the newest and freshest information out there. Look for a high-volume direct compiler of new mover data for targeting and prospecting across multiple channels — direct mail, email, display and social media. Find out how many sources are used, and how often lists are updated and “hygiened” for maximum deliverability.
With the right data, you can create customized audiences to zero in on your ideal customer — date of move, zip code, income and more — target unique segments, build application-specific models and prioritize marketing budget to reach the right audience.
Get moving on your new mover campaign
People who have recently moved or are about to are already researching and spending money on moving-related products and services. But when you consider that 56% of major move-related purchases are made within the first two months after moving, your timing to reach them is limited. Here are some points to keep in mind:
- Segment and target your audience. It’s worth the time and money to identify the ideal new movers for your products or services, so you can deliver a more targeted approach. Why bother marketing teen-oriented home goods to a couple in their 50s with no children? The return on investment is worth the extra effort to gain a loyal customer.
- Be the first to say hello. Now that you know who you’re talking to, introduce your business before your competition steps in. Use move-in dates to pinpoint when and how to best reach consumers at their new home.
- Fine-tune your messaging. What language and offers will best resonate with your audience? Use the data to speak to their needs. Are the new homeowners busy executives who work long hours? Your online meal delivery service may be just what they’re looking for. Carefully craft a campaign that speaks to them. Again, the effort is worth the ROI.
- Generosity goes a long way. New movers are already spending a ton of money. From truck rental to temporary storage to moving supplies, their new home’s price tag is just the beginning. Why not give them a warm welcome with a free delivery offer or 20% off their first oil change at your location nearest their home?
- Stay relevant. You’re not the only business trying to win them over. Reach out more than once, and target new movers across multiple channels — email, social, digital display — to keep your message top of mind.
- Measure and optimize. Does a particular demographic respond well to BOGO offers? Or do they prefer receiving a postcard worth 50% off? Use your data to collect insights from your audiences’ responses to help to serve them better in future campaigns.
Digital vs. direct mail: The best of both worlds
To make an impact, your new mover campaign should cohesively deliver online and offline messaging to your prospects. Multi-sourced data that provides digitally addressable IDs is the key to a successful omni-channel campaign.
New movers use varying channels throughout the moving process to research and find different products and services. Direct mail can be a powerful sales driver — especially for new homeowners whose mailboxes are still relatively empty. Industry sources report that the majority (69%) of new movers say they enjoy checking the mailbox for postal mail, and 41% pay more attention to information received by postal mail than if it was received by email. And according to research by MarketingProfs, 40% of consumers try new businesses after receiving a direct mail piece. If you’re brand is first to hit their mailbox with an eye-catching discount, it may help you gain their business.
Nonetheless, you can’t ignore the power of email and digital. Industry sources revealed that the top influences for moving-related decisions are online. Fifty-nine percent of new movers found that online information was more helpful than what they received via postal mail. And when it comes to digital-specific initiatives, taking your marketing online opens the door to email prospecting, custom audiences and display ads that can further target your demographic.
Tap in to the new mover market
New movers are bombarded with information, advertisements and well-meaning recommendations as they’re settling in. But with the right data, your brand can generate awareness, meet their needs and build a valuable presence in their new lives.