Consumers relocating to new homes, whether across town or across country, are hot prospects for new services and household goods, according to a study published by data-driven marketing services firm Epsilon.
Top methods to research and locate new businesses in the community are word of mouth through new neighbors (67 percent) and the Internet (61 percent). E-mail falls lower on the list, at 23 percent.
“Marketers are looking to develop the ability to respond to relevant triggers,” said Ron Shevlin, VP of client solutions at Epsilon. “A move is an important marketing trigger to identify as quickly as possible and capitalize on from a marketing perspective.”
Movers are classified into three categories, with an average post-move spending of $7,300 in new products and services in the first 90 days. Mover-uppers account for almost 30 percent of new movers and relocate to a larger home or nicer area. The group spends an average $8,300 within three months following their moves. Mover-uppers are likely to use direct mail and e-mail to locate new businesses and are more likely to provide an opt-in e-mail address to obtain more information.
“With an e-mail address, you’re able to contact customers in a more timely way,” said Shevlin. He said the mover-upper group tends to buy furniture; home appliances; electronics, including high-definition televisions; and other products to enhance their lifestyle.
The next group is identified as the down-sizers, which comprise about 20 percent of new movers. For various reasons this group is moving to smaller homes and is less likely to make new purchases following a move.
Clean-breakers, the third group, comprise 10 percent of all new movers and are motivated to move to get away from family or friends, and start a clean slate. The group spends above average in the 90 days following a move, though it purchases fewer products than the mover-upper contingent.
Regardless of group and distance of move, consumers are likely to sever relationships with previous service providers. Of all movers, 39 percent are likely to stop dining at their favorite restaurant, and 38 percent will find a new grocery store. From a home service perspective, 38 percent are likely to find a new cable provider, 36 percent look for a new phone company, 33 percent look for a new Internet provider, 30 percent look for a new home insurance provider, and 24 percent look for a new bank. Cell phone providers (16 percent change) and car insurance provider (20 percent change) remain more consistent.
Epsilon conducted the study in partnership with GfK North America. The study involved a survey of 801 consumers identified as having recently relocated by Epsilon’s New Mover Data File.
Businesses near ‘PokeStops’ are enjoying a huge surge in footfall due to the popularity of Pokémon Go, according to our first major ... read more
An effective content marketing strategy needs to be customised to the demands of each industry. Here are five tips to increase your ... read more
We put China and United States head to head on smartphone sales and smartphone penetration; 4G subscribers; 4G coverage and speed; mobile internet users and m-commerce; to find out where the world’s biggest m-commerce opportunity lies.
New stats suggest that retailers are improving their customer retention rates, so is this the result of a focus on the customer ... read more