Tapping into the New Mover Market: Data & Timing Are Key
What’s the #1 reason people move? A new or better home, according to Move.org. Yet 62% don’t go too far, remaining in the same county.
Regardless of why or where, roughly 43 million people in the U.S. move each year, according to USPS, creating lucrative customer acquisition opportunities for a diverse array of brands. Home buyers, for example, are spending $10,000+ in their first year alone on everything from home improvement and pet supplies to furniture, appliances, home décor, bedding, lawn equipment, home security and more.
Know who’s establishing their home sweet home
New mover lists are a hot commodity for marketers looking to acquire new customers and establish brand loyalty when consumers are in buying mode — the perfect environment to create new brand loyalties and high lifetime value relationships.
But not all new mover lists are created equal. Before buying any new mover data, be sure to ask questions like these: How is the data sourced? How frequently is it updated? Are you able to segment to create truly relevant offers? For example, renters exhibit different buying behaviors than home buyers; someone who relocated last week will have a unique set of needs and priorities compared to a mover who’s been settled in for six months or more.
A successful new mover campaign is all about speed — the freshness of the data and how quickly you get your offer into a buyer’s hands before the competition. Industry data shows that new movers are five times more likely to become long-term customers if you reach them first.
Making connections that last
With its tactile, high-value perception, direct mail remains the most powerful tool for engaging and acquiring new movers, especially when their mailboxes are still fairly empty. From a quick-read postcard to a mini-catalog with new mover-focused products, direct mail can be worth the investment to capture potentially high-LTV customers.
New movers can be segmented to allow for richer targeting, so you know you’re speaking directly to a need instead of simply a generic “Welcome to the neighborhood!” As with any marketing channel, it’s all about relevance.
In addition to stand-alone mailings, brands seeking to reach a broad range of new movers can also consider co-ops and ride-alongs for high-volume exposure at a cost-effective rate.
Of course, your new mover customer acquisition efforts aren’t limited to direct mail. Like any consumer, movers use a variety of channels to research their options, educate themselves and make choices. Industry data shows that 77% rely on online sources because they’re the fastest, so consider adding a digital component to your campaign’s mix of channels.
Choosing a data partner
If data and timing are key to reaching new movers, having the right data partner is equally important — a trustworthy original data provider that compiles data in-house and has extensive expertise. When evaluating potential data partners, here are some qualities to look for:
- Flexible pricing structure with top-notch service
- Weekly updates with fresh new movers added each week
- Multi-sourced file to achieve the best coverage
- Thorough data hygiene and append practices to ensure the highest level of targeting accuracy and deliverability
- Enhanced targeting capabilities so you can reach the most relevant audience
Remember those 43 million movers we mentioned at the start of this post? With so many people moving each year — and roughly a third never reporting their new address to the USPS — data sourcing and timing are vital, so choose your data provider wisely.
Specialists Marketing Services offers high-quality consumer and new mover data for targeting and prospecting across multiple channels. Our proprietary CC360 New Mover Database is built in-house from hundreds of sources, updated weekly and includes prior addresses on over 70% of the file. That means you gain additional targeting capabilities not commonly available in the marketplace, backed by knowledgeable guidance based on decades of new mover experience and successful campaigns.
Learn how to partner with Specialists to make your next new mover campaign your best yet.
What’s the ideal timeframe to reach the new mover market?
Much depends on your product or service, so consider how they fit into the typical new mover cycle. If you’re an internet provider, insurance agency or daycare organization, these are typically considerations made early on, so fresh data is critical. New car sales or credit card provider? These are better targeted once the consumer has settled into their new home.
Home décor and healthcare providers (including veterinarians) are likely decisions to be made within one to six months post-move, so you may have a little more flexibility on timing. Still, being the first to reach out can pay off in lifetime loyalty.
What’s the strongest offer for a new mover?
One size doesn’t fit all. Offers vary widely based on what you’re selling, its price tag, and the audience you’re targeting, of course. But speaking generally, generosity pays off.
Think of it this 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. So, offers with high perceived value — free overnight shipping, BOGO or bonus gift with purchase — go a long way to helping them feel welcome.
Relevance in an offer is also important, so be sure to use data insights to segment audiences and refine your message accordingly.