Simply put…for every 10 families that move to a new trade area, 10 subsequently move out
These households must re-establish their driving patterns and retailer loyalties, equating to 10 opportunities for businesses to attract new customers every week. Deliver Magazine cites that new residents establish an average of 71 new business relationships in their first few months. Assuming these potential new customers will find you before they establish their loyalties to your competitor is not a risk worth taking.
Marketing to New Movers is very similar to the Grand Opening strategy of a new location, although its approach is reversed. Once your location has become established, you are no longer “New” to the area; instead, you are “New” to every person who has recently moved in around your location. Being the first to send a mail piece and a personal welcome message will play a significant role on your business’s short and long term growth. If having mini Grand Openings every week is not enough to convince you, read below for more reasons why New Movers are the group you should target.
1. New Movers have Great Credit and Disposable Income
Excellent credit and a large savings are two of the main prerequisites for purchasing a home. This is why qualified homebuyers are the best customers to target for any business. Marketing leaders in a wide variety of industries value this audience more than any other because they are willing and able to spend more than the average consumer, and you reach them when they are making buying decisions.
2. New Movers Spend the Most
According to a survey conducted by Furniture Today, New Movers outspend existing homeowners 5 to 1. It could be that these homebuyers are moving into a larger house. Or, perhaps they are downsizing. For whatever reason, their existing furniture does not suit their new home and they are willing to make more purchases. But how much do they typically spend?
3. New Movers spend on average over $3,800 in the first 90 days of their move
New Sofas. New Fridge. New Floors. New Movers make more buying decisions in their first three months after purchasing a home than established residents will in 2 years. It is the perfect time to ensure you are making an impact, as these New Movers are buying the items they need to furnish their home.
The three reasons above, supplemented by DBM Group’s quick and accurate data, make New Movers one of your best target groups. DBMG compiles NHO data daily and mails weekly, with a 100% deliverability guarantee. Targeting these recent movers as they begin to settle is fundamental to a successful New Homeowner program. The accuracy and speed in which we target these consumers ensures that they’re exposed to the best deals at the perfect time: when they need it most and are willing to spend!