New Movers: How to Tap Into This $170 Billion Market
Peak moving season has arrived. On average more than 40 million people move each year in the United States and it’s estimated that 80% of those moves occur between April and September. New movers represent a worthwhile opportunity for brands to establish new customer relationships and business growth. Why? Because new movers are actively looking to build local relationships while settling into their new communities. Feeling at home is essential and they are spending more money on home goods and services to accomplish this compared to established residents. Here are some interesting facts to consider:
- New residents typically develop 72 new business relationships within one year of moving
- New movers spend more in the first 6 months following a move than a typical consumer spends in 3 years
- Within the first 180 days, new homeowners spend nearly $10,000 on items for their new home
- New mover annual expenditures are a whopping $170 billion
- 43% of major purchases by new movers were made after visiting a business in person
Now, imagine if you focused part of your marketing efforts on making these new residents your new customers by attracting them to your business – a potentially untapped market that can help you boost sales. So, how do you reach these new movers and create awareness about your business? We have a simple way to do this through targeted direct mail. Done correctly, direct mail is an effective marketing channel for new customer acquisition and continues to be one of the best tactics for reaching new movers – even in a digital world. Not convinced?
- 72% of new movers felt that they receive too many emails in one day and even more (75%) receive many emails that they don’t open
- 69% of new movers agreed that they enjoy checking the mailbox for postal mail
- 41% pay more attention to information received by postal mail than if it was received by email
- 80% of new movers redeem coupons from merchants before, during, and after the move
- 31% felt that move-related information received by mail was the most convenient to read and more trustworthy compared to online
And, timing is everything. Contacting new residents within 60 days of their move is 80 times more successful than contacting an established resident, and they are 5x more likely to become long-term customers if you reach them first. An effective way to stand out in the mail and grab attention is by offering a “welcome to the neighborhood” greeting along with a compelling offer that entices response or a physical visit to your place of business.
Interested in testing this marketing tactic for your business? With access to over 23 million actively updated new mover records along with complete in-house design, print and mail services, Modern can help you put your business in front of these lucrative prospects through single, weekly or monthly mailings.
Contact us for a FREE list count of new movers in your area, and for more information on getting a new movers mailer program started.
Call a Direct Marketing Specialist at 800.959.8365.
Statistics sources: National Association of Home Builders, Zillow, DMA, Epsilon and the USPS.