Most marketers know the value of targeting New Movers, for both customer acquisition and retention. When a consumer moves, they make significant purchasing decisions for items such as furniture, electronics, appliances, and even textiles. They also make decisions around services, including doctors, dentists, and bankers. They choose new restaurants. They choose new service stations for vehicle repairs and maintenance. In fact, according to the Bureau of Labor Statistics, new movers spend $7,400 more than people who don’t move. And, they engage dozens of new brands post-move.
Given that nearly 20% of the U.S. population moves each year, moving-related expenditures are in the billions annually! It’s no wonder these consumers are the targets of sophisticated marketers. Data providers for targeted marketing compile different types of lists for marketers, identifying people who have recently moved.
The key to taking advantage of this marketing opportunity is to reach consumers early, before they’ve made their buying decisions and brand affiliations. As such, it is vitally important to not only obtain the data quickly, marketers must make sure the data itself is both fresh and reliable.
At Flatiron, we’ve found the best providers of moving-related data are our colleagues at Speedeon. Speedeon has comprehensive data from different stages of the moving process. First, their “At-List” data shows people who just listed their homes for sale. Then, “At Close” shows people who just closed on their existing home. Finally, “At Move” shows people who just moved. The best marketers act upon the At-List data, identifying consumers preparing to move, reaching them ahead of other marketers. Flatiron can provide a weekly feed of this data and help clients craft and execute programs specifically for this highly desirable audience.
Further, working alongside our colleagues at Speedeon, Flatiron develops Proof-of-Concept (POC) programs which allow us to demonstrate exactly what the opportunities are for specific clients.
When thinking of new movers, nearly all of the focus is on customer acquisition. Too often, the customer retention aspects are overlooked. This is especially true for service-related businesses where the consumer’s decision is often a zero-sum game. When a consumer finds a new financial advisor, tax preparer, or bank, it means they are leaving their current company. Knowing which consumers are at-risk for re-evaluating their brand relationships provide the incumbent an opportunity to retain their customers. Our POC includes this type of analysis.
For more information about how to best utilize new-mover data, please contact Flatiron Resources at (312) 242-3790.