During the first six months of 2020, over 15.9 million Americans decided to pack up and move. An average of 31 million people in the United States are moving per year and putting around $86 billion of revenue into the moving industry.
Needless to say, moving and buying a home can get expensive… quickly. Which is why new movers are often easily swayed to hang on to a postcard that will save them money. Most people visit dentists, so they may want to save a little extra with that $99 New Patient Special deal they got in the mail or use the offer for a free oil change because they know that’s coming up soon. New movers tend to be more conscious about their expenses, and now is a great time to be targeting this market with your mailer.
What effect does the current housing market have on my new mover campaign?
Currently, we are seeing a boom in the housing market. Costs for homes are increasing, houses are selling fast, and the active inventory on the market is 50% below what it was last year. The demand is high and supply is low, but that isn’t stopping buyers from entering the market. Mortgage rates are low, and the surge doesn’t seem to be stopping any time soon despite the effects of this past year on many families.
With the consistent influx of new movers, you’ll have great lead potential. By targeting these consumers with direct mail marketing, you won’t have to worry about as much competition as with digital platforms, you’ll see higher response rates than other marketing strategies, and your target audience won’t be as affected by brand loyalty as they look for new businesses. Plus, everyone gets excited to receive mail at a new residence!
We know this all sounds great, but don’t take our word for it. Take a look at the key statistics below as you consider building a new mover campaign strategy:
- Although many new home buyers are cost-conscious, they still tend to spend more in the first six months of a move than the average homeowner spends in 2 years.
- People buying a new home spend an average of $9,400 to get established. They have to find a new dentist, gym, an HVAC specialist, a new landscaper — whatever your industry, you could most likely be grabbing a cut of those profits.
- The median home sales price recorded in April was $341,600. This represents a new record high, a 19.1% increase from the previous year, meaning consumers are spending more for the house they want.
How a new mover campaign could help boost your business
A move sparks a change in needs and the use of services, so targeting at just the right time can not only put you ahead of your competition, but keep you fresh in the mind of your prospects. Typically the response rate for a direct mail campaign is around five to nine percent. By being highly targeted with this group of consumers, you could actually yield up to triple those response rates.
Wondering if your business could benefit from a new mover campaign? The answer is most likely yes! We have seen new mover marketing campaigns work exceedingly well for the following industries to name a few:
- Dental Practices
- Fitness Clubs
- Auto Repair
- Cable Service
Residents moving into your area should be a huge focus as they offer you profitable opportunities and can effectively grow your customer base. If you need help getting started, contact one of the experts at UpSwell to start planning.