October 21, 2019
According to the USPS, 43 million people in the U.S. move each year, creating a unique, but often overlooked and undervalued customer acquisition opportunity. 62% of these new movers don’t go too far, usually staying within the same county. Why should you care about new movers? Home buyers are spending $10,000+ in their first year alone on everything from home improvement and furniture, to appliances, home security, and more.
New mover lists are a hot commodity for marketers looking to acquire new customers and establish brand loyalty when consumers are already in buying mode. A fresh start like a big move fosters the perfect environment to create new brand loyalties and high lifetime value relationships. New homeowners live in their new home on average for five to seven years.
Remember: not all new mover data is created equal. Be diligent with your questions before buying data lists. When you meet with your data provider, make sure to ask the following questions:
Speed, speed, speed. Select the data provider that can get your message in front of new movers FIRST. Industry data shows that new movers are five times more likely to become long-term loyal customers if you reach them first.
Make sure your new mover data list can be segmented: new homeowners vs. new renters, home values, and other demographics. Segmentation allows for customized messaging and offers, dramatically increasing engagement and conversion.
Direct mail is still the quickest way to reach this consumer group. While direct mail should be your initial touch point, consumers are more apt to do their research before purchasing products or services, so a digital component is necessary, as well. For a multi-touch direct mail and digital campaign, IP targeting (digital banner ads) has been proven to increase brand awareness and consumer engagement, as industry data shows that 77% rely on online sources to research and make choices.
All marketing campaigns should be data-driven; this has become an industry established rule. Data waste is often the most overlooked cost when evaluating the success or failure of a direct marketing campaign. As data becomes more and more important to a campaign’s success, here are some things to keep in mind when selecting a data provider:
Note: These above practices such as segmentation, data hygiene practices, data appends, and deliverability checks should be done to your own consumer databases as well.