Want a fast-growing, ever-changing, endless supply of willing customers to target with your marketing efforts? If so, don’t overlook the lucrative new movers segment.
According to the U.S. Postal Service, over 43 million address changes are processed each year. These movers (people who have moved) and pre-movers (people in the process of moving) are eager to spend money and build new relationships with retail and service businesses in their area, including grocery stores, banks, health clubs, restaurants, auto shops, and more. It’s a highly motivated, receptive audience that represents a tremendous marketing opportunity—if you know how to reach them.
MoverTrends.com reports that on average, new movers spend more in the first six months after a move than a typical consumer does in three years—totaling nearly $170 billion each year. And not only do they spend more, they also tend to be more loyal. Their interest in getting settled and establishing new relationships means new movers generally stick around when they find businesses they like. Which is why they are five times more likely to become long-term customers compared to the average customer.
Components of an effective new movers program:
- A high-quality list. Having an up-to-date, high-quality prospect list is probably the number one key to success. If you’re not armed with correct address data, you won’t reach the right people. Your list should be compiled from several sources and updated often. Since people are constantly moving and changing addresses, it’s important to use the most current information available.
- Frequent timing. Because of the shifting nature of the audience, it’s important to keep your marketing efforts going constantly, all year round. And since people often need a few communications before they decide to act, you should stay in front of them regularly—especially during the early months when movers are establishing relationships with businesses that may last many years. If you don’t stay top of mind with new movers, somebody else will.
- Attention-getting creative. New movers receive a fair amount of marketing pieces from neighborhood businesses. To reach them effectively, you need to stand out from the pack. This is the time to be creative, try something new, and ensure your marketing investment will get noticed.
- A friendly approach. New movers are an excited group. They’re happy to be in their new home and eager to learn about their new neighborhood. Don’t be too formal with them. A comfortable, friendly tone will go a long way toward breaking barriers and building relationships.
- A solid plan. For maximum effectiveness, any marketing effort requires a carefully considered plan. Don’t just run a smattering of random ads in local publications or send out a few postcards. Figure out what you’re doing and why. Have a strategy for how and when you’ll approach your target audience. Put systems in place for tracking your marketing efforts so you know what’s working and what isn’t. A solid plan will greatly increase your odds of success, while keeping you organized and on track.
Small investment. Big potential.
Creating loyal, active customers from a constantly changing supply of new movers can make a big difference to your bottom line, making this a key audience for growing your business—and a perfect one to target with your marketing efforts. The potential rewards are well worth the investment.
To find out more about how to effectively reach new movers, or for help in putting together a successful program of your own, contact Maureen at firstname.lastname@example.org or 612-436-0321.
To read more about the opportunities to market to movers, read two of our publications: