Let’s start with perspective. 60,000 people move every day. New movers spend an average of $9000 and make more than 70 brand decisions in the first 3 months. (Source: Speedeon)
New mover marketing is a strategy that both small and big brands are vying to excel in because of the many opportunities offered by their unique demographic. While the target audience itself may be niche, we are looking at customers who have the purchasing power, are in-market and ready to buy, and, more importantly, are open to new options!
But new mover marketing is a strategy as fluid as its audience. It needs to be adaptable to evolving consumer needs, housing market trends, and many other factors. If you think new movers are an ideal target for your brand, you are at the right place to get started.
Before that, let’s examine this strategy, its target demographic, and how you can fine-tune your campaigns to reach them effectively!
Who is a New Mover?
Typically, new movers are referred to as residents who have settled in a new house within the last 12 months. But, given that new movers go through different stages during the entire moving process, the addressable audience of new mover marketing can include anyone who is preparing to move, is in the process of moving or has recently moved. The mover life cycle includes 3 distinct stages to help you determine where exactly your brand comes in and refine your targeting approach.
They are:
1 – When the home is placed on the market.
2 – When the home is under contract or has a pending sale.
3 – When a consumer has actually moved.
What is New Mover Marketing?
New mover marketing is a highly targeted strategy that engages individuals or families who are in the process of moving or have just moved into a new home. Brands can use a variety of channels to reach new residents such as direct mail, social media, and even local events. Mover marketing solutions need to be very specific in addressing the customers’ needs, including only the most relevant products or services based on their needs at the time.
The Purchasing Behavior of New Movers
New movers are usually big spenders. In fact, this segment spends around $180 billion annually!
It has been found that a new mover spends more in the first 6 months after a move than an average customer would spend in three years. Our studies also show that this period is marked by essential purchases such as furniture, home appliances, home security systems, and local services, making it a prime time for brands to capture their attention. Some other top new mover purchases include bank accounts, utilities, and insurance.
Movers tend to be quick decision makers, providing only a narrow window of engagement for marketers. So, your mover marketing campaigns have to be executed almost immediately.
An older study by the Pew Research Centre also shows that affluent people or high-income earners are the most likely to move. With a higher financial capacity, it’s easy to see why new movers are a coveted demographic for brands.
Know Today’s New Mover
The majority of new movers in America today are millennials aged 25-34. So, any brand targeting this segment must know that their preferences and requirements are different to those of the boomers. Millennial homeowners are inclined to sustainable living, smart home technologies, and proximity to amenities like parks, schools, and shopping centers.
Knowing the motive of new homeowners is also essential to frame your offer in a persuasive manner. At present, people move due to many reasons, with housing (41.6%), family (26.5%), and work (16.1%) bagging the top 3, according to the U.S. Census Bureau. A lot of buyers today are also in favor of investing in ‘forever homes,’ and creating this appeal in your message can resonate a lot with their needs!
Interestingly, you can even launch your new mover campaign based on the time of the year when a lot of people are on the move. In the U.S., the majority choose to move during summer when the weather is favorable. However, if your product isn’t affected by seasonality, you can also run an always-on mover marketing strategy that reaches consumers when they start their moving process.
Where Do People Move in the U.S.?
When it comes to moving trends in the U.S., Florida, Texas, North Carolina, Arizona, and Georgia are the top states that people moved to. Dallas and Houston are the top metropolitan areas that people are moving into, while many are leaving New York and Los Angeles.
Benefits of New Mover Marketing
Moving is no easy process and involves a lot of decisions, whether you are moving within the state or interstate. For starters, everything from your address to your go-to grocery shop will change when you move to a new place. But that’s just the tip of the mammoth list of things new homeowners need to look into when they move into new homes.
When people are at this important juncture in their lives, they are looking for solutions that not only make the process of ‘settling in’ easier but also address their needs. We are looking at people who may be actively looking for your solutions in the market and are ready to spend. Here are some benefits of targeting them!
Ready to Connect
Our research shows that new movers are likely to engage with over 72 new brands. Whether you are an up and coming brand looking to gain a strong foothold or an existing business wanting to expand its reach, movers are an ideal target. New movers are more receptive, and with the right strategy, you can drive up acquisition.
Ready to Spend
New movers often have immediate needs for essential items to make their new home a comfortable space for them. They would also seek local services for laundry, repairs, in-house cleaning, and landscaping. These consumers are in the market, waiting for your offer!
Ready to Try
New mover marketing isn’t limited to essential solutions alone. As new homeowners settle in a new environment, they will be open to new experiences – whether it’s a local eatery to dine at, a gym, or a movie theater to relax. They have left their loyalties behind and will be open to fresh options. The key here is to reach them before the others do!
Why is Data an Indispensable Tool When Targeting New Homeowners?
If you want to convert new movers into your loyal customers, your mover marketing campaign has to be flawless to be competitive. This means, addressing their pain points accurately and resonating with their needs at the moment.
From identifying whom to target and how to target, data is a quintessential tool for marketing in need of the right direction. While first-party data is invaluable in this case, many brands don’t have a lot to begin with. Here’s when thirst-party data sources become critical. Primarily, you need to have access to actionable data that gives you specifics on pre-movers and new movers.
By enriching your first-party data with third-party mover data, you can tap into a plethora of opportunities. It will provide more context to your data, help with advanced segmentation, and even enable model creation based on your best customers. More importantly, you can eliminate waste spent on irrelevant leads and maximize your ROI.
How Can Speedeon Help?
We thought you would never ask!
Marketing teams can access the latest mover activity and insights with Speedeon’s high-quality mover data.
As a renowned data solutions provider, Speedeon has what it takes to help brands deliver meaningful marketing campaigns to their customers. Our mover database is a compilation of the latest and most accurate data sources on movers. It offers demographic, behavioral, and lifestyle data to give you cutting-edge insights about potential customers in your market area. Our data not only signals that a person has moved. It is also enriched with personal information to give you the intel on how to craft your message or offer.
We also offer a range of data-driven marketing solutions to make it easier. With our variety of services and tools, you can customize the format and frequency of your mover data to empower automated, always-on programming.
Download our New Mover Modeling Case Study >>>
How to Succeed in New Mover Marketing?
Identify the Relevance of New Movers to Your Brand
While new movers are a highly relevant and targeted audience for most brands, understanding the degree of relevance to your business can help you frame your marketing message more effectively. For example, are you fulfilling one of their immediate needs or is your solution an add-on to their basic requirements?
Did you know that it is actually possible to measure new movers’ engagement with your brand with backtesting? By comparing how a previous mover has responded to your brand, you can determine the level of impact of your future campaigns. Predictive modeling is an effective way to gauge how new movers in your area will respond to your offer and it is a tactical way to identify the most receptive segments.
Understand Your Target Audience
Targeting any new mover in your area will not bring the desired outcome. Therefore, invest in researching and understanding the demographic characteristics of the new movers, including their age, income level, and lifestyle. For example, targeting single, child-free households will not have an impact if your product is related to baby care.
In most cases, brands will have more than 1 type of ideal customer. Here’s when segmentation comes into play. Categorize your addressable audience into different groups based on life events, demographics, or behavioral patterns. Our database, with over 1000 attributes, helps you segment your target audiences for highly personalized campaigns. With Speedeon’s AudienceMaker, you can build a profile of your best prospects and target prospects who project similar behavior and interests.
Have Clear Objectives
You could be targeting movers to increase customer acquisition, determine the engagement level for your newly introduced product, or to improve loyalty. But, the approach for all these is not the same. So, well-defined objectives not just help brands tailor their marketing message better. It will also streamline your marketing efforts, making them more focused and differentiated from competitors. Objectives will also determine what KPIs need to be in place to measure the outcome of your campaigns.
Timing is Everything
Having a persuasive offer alone isn’t enough to grab the attention of new movers. You also need to address them at the right time. New homeowners’ decision-making window is shorter as they have immediate needs to fulfill and since they haven’t made up their mind on any particular brand, the earliest to reach out is likely to win the purchase.
When it comes to timing your message or activating trigger marketing campaigns, the mover life cycle is important to consider. Determine where your offer stands and send it as soon as the prospect makes the move. Here’s how a top insurance provider boosted retention rate with trigger marketing powered by life events data.
Be Relevant
Reaching new movers has to be a carefully curated strategy. As much as new movers are open to new choices, they don’t want to be spammed with excessive promotional content. They wouldn’t bother giving your brand a chance if the product recommendations aren’t relevant or your marketing message reaches them at the wrong time.
Personalization creates a more engaging customer experience. When new movers receive recommendations or offers that align with their circumstances—such as home improvement services or utilities—they’re more likely to respond positively.
What are the Best Channels for New Mover Marketing?
New movers purchase goods and services through multiple channels. For example, they may come across a product on social media, go through the website to know more about the product, but make the purchase at the physical store. So, when marketing, you have to tap into all the possible channels of your movers. As you segment your audience, you will also be able to identify the most appropriate channels to reach out to your prospects.
So, if you don’t want to miss out on opportunities, cross-channel activation is a must when targeting new movers. This way, your campaigns will meet leads in their frequently used channel, driving up engagement and conversion rates.
Also worth noting is that while digital channels like social media and email are convenient ways to reach new movers, direct mail campaigns remain an impactful channel to connect with them. It is a great way to get people to notice your brand as the mail piece is delivered to their hand! Here’s how a Luxury D2C brand increased customer acquisition with a shared mail marketing program.
New Mover Marketing Case Studies
Want to know how we have helped clients optimize new mover marketing and achieve their objectives? Here are some compelling case studies we’ve conducted!
An Insurtech company wanted to target prospects for their newly introduced solutions, and Speedeon identified new movers, especially those from different cities, as the ideal segment. These would be prospects open to try new solutions and are also ready to spend. With lookalike modeling, we were able to target them accurately and it brought a 77% lift in response.
Download our New Mover Modeling Case Study >>>
New mover marketing is a lucrative strategy even for industries like finance that face heavy competition. But, no two movers are alike, and the key lies in identifying the segment that will be responsive to your offer. Predictive modeling is a resourceful tool here in cloning your ideal customer profile and targeting movers who fit the criteria. Take a look at how Speedeon put this into action by downloading the case study.
Is Your Mover Marketing Program Ready?
If you are still holding on to ‘spray and pray’ techniques, now’s the time to let go. Narrowing down your targeting approach can actually bring in a better outcome than sending out generic promotional materials. Whether you are looking to penetrate into a new market or hoping to revamp your current strategy, new movers are a great segment to target for growth.
Marketers no longer have to bear the brunt of analyzing mammoth data sources. With our solutions, you can have access to customer insights almost immediately and segment your audience to get as specific as you like.
Want to learn more? Get in touch with us and we’ll connect for a one-to-one session!
