Hitting the moving target
Most marketers would agree that identifying and reaching new prospects tops their list of challenges when it comes to executing marketing plans. But what can be even more difficult is timing your connection with prospects when they're most likely to respond and doing so before your competition.
A responsive niche that is starting to appear on marketing radars is new movers. Almost 14% of the US population moves annually, with movers listing lifestyle changes — including graduation, a new job or promotion, a larger home, the birth of a child, marriage, divorce or retirement — as their primary reason for relocating.
Of the 14% of people who move annually, 82% remain in the same state while 14.2% move to a different state. Additionally, nearly 33% of renters and 9% of homeowners move annually.
In further research, 91% of new movers reported that the Internet reduced the stress of moving.
After visiting a moving-related site, 14% of people go on to search for information about mortgages, education, credit cards and auto loans. An average mover has a 56-item “to do” list, and movers will spend, on average, more than $9,400 on goods and services related to their move, regardless of their reason for moving.
Experience and research show us that new movers spend more on goods and services immediately following their relocation than non-movers spend on similar goods and services in five years' time. They're in the market for home furnishing and home improvement products, as well as information about local restaurants, services and newspapers. Reaching this audience with information and offers first and fast is critical.
To reach new movers, work with a good data service provider who will be able to help identify this viable prospect group. Find a partner who can provide detailed segmentation, such as income and dwelling type, to more closely match your offer to the recipient. Your provider should also update files frequently, weekly, for example, for the freshest and most accurate data — and be able to turn them around quickly for use. An excellent provider checks data regularly to ensure that data hygiene and quality control benchmarks are in place and removes Do Not Call files as well as suppression files collected from the Direct Marketing Association.
Choosing the right data solutions partner will help your company identify and reach this responsive prospect group when they're most likely to respond to your offers. From there, you can better target customers with messages tailored to fit their needs which will help maximize your ROI.