Do you know that in the United States, the typical family will change residences every 5 to 7 years? They’re buying all sorts of stuff every time they relocate. The first three to six months in a new house account for more of the $170 billion spent annually on the housing market than the following three years combined. Brands may build and strengthen connections with new and early adopter customers by promoting and advertising their products and services.
In addition to the retail opportunities, there are many other useful business opportunities associated with mover data. And it isn’t all a residential playing field either, as there are many business to business (https://en.wikipedia.org/wiki/Business-to-business) sales and marketing opportunities that present themselves once you have the data in front of you. The importance of having the correct data at your disposal can mean the difference between a lifelong client, or another lead that doesn’t pan out. It’s imperative that you work with current data and understand the impact that it has on sales and marketing in all facets of the business.
Retail Patterns Before and After a Move
Families in the process of relocating or who have just settled into a new home are likely to do research and make purchases from a wide variety of industries and service providers. They know what they want to purchase for their new place, an idea of which furnishings will stay or be thrown out, and even who the new veterinarian will be. That’s why it’s critical to connect at these 90-day windows prior to and after the move takes place.
As much as 70%-90% of a mover’s budget is decided upon before they ever leave their present home, making the months leading up to and after the relocation the most crucial for achieving maximum success with outreach initiatives. After moving into a new house, this time period is crucial for various activities like the purchase of furnishings, home improvements, and neighborhood services. Business owners often plan ahead and have new furnishings delivered to the new office, so there is no time to lose in that market. It’s too late once the purchase has been made and delivered.
Intentionally Direct Marketing Across The Platforms
Epsilon surveyed people to see how they feel about various channels for learning about and maybe trying new brands, services, and locations. The following assertions were supported by a majority of respondents in the survey:
- For 77 percent of research on moving-related topics, they turned to the internet since it was the quickest option.
- Seventy-five percent of people preferred talking to a real live human being about the upcoming relocation since it allowed them to ask more specific questions tailored to my situation.
- Seventy percent of those who moved maintained some kind of record to review afterward.
- Five to nine percent said they found online resources more useful than printed materials.
What factors have the most impact on a customer’s final choice for a moving-related service or product? A third of people use the internet to choose a moving firm, whereas almost half of the people prefer to make large purchases in person.
Marketing Methods for the Newcomer
It’s apparent that relocating customers don’t rely on a single research method while looking for new places to shop and services to use. Depending on their needs and where they are in the relocation process, individuals consult a wide range of resources, some of those listed at https://360datagroup.com/products/ you might never think of. Customers may go through many touch points before deciding to do business with you: direct mail, online research, and an email offer.
The Direct Marketing Association (DMA) reports that for every dollar spent on direct mail advertising, a company may expect a thirteenfold return, while a study found that forty percent of customers explore new firms after getting a direct mail piece. Clicking an ad on a social networking site is typically the first step rather than the final when it comes to digital advertising and ultimately making a purchase. For making purchases, 80% of customers claim they do “a lot” of internet research, with 46% relying on social media.
When making a purchase decision about a move, those under the age of 50 are more likely to rely on digital resources like internet searches, websites, and online reviews, while those over the age of 50 prefer human resources like in-person visits to businesses and recommendations from friends and family.
Incorporate Mail-Order Catalogs into the Formula
One of the most effective ways to get in touch with people who are moving is via direct mail. Sixty-nine percent of recent movers said they like checking the post for mail, and 41 percent said they paid more attention to physical mail than email. Three in ten people found reading moving-related letters the most convenient, and 18 percent found it more reliable than internet resources.
Should You Use Email?
The Epsilon study found that new movers valued email less than the more than those in the past reported. 72% of recent movers said they are inundated with emails every day, and even more, 75%, said they get plenty of emails but seldom read them. Although 44% of recent movers found reading email about their relocation to be the most convenient method, the sheer volume of emails received may have outweighed the benefits. Email, however, is still a vital part of a diversified communication strategy and should not be neglected. You should always aim for clarity, always test your subject lines and body text, and always personalize your messages.
After relocating, you’ll need to start over with your routines and create relationships with local service providers, retailers, and other businesses. This means recent movers are in the research phase and are receptive to potential deals. By focusing on this demographic, you may raise your company’s profile, solidify your brand’s position in the market, and attract a large number of potential clients.