Leveraging rich data allows brands to distinguish between potential movers who have their homes listed and those who are not moving.
by Andy Frawley, Adweek
With over 30 million people in the U.S. moving each year (and likely even more due to the pandemic) and spending on average $9,000 per move, mover marketing is a significant revenue opportunity for brands to engage with this lucrative market.
Movers spend billions of dollars per year on numerous products and services, some more obvious than others. They open their wallets for home improvement, furniture, décor, utilities, telecom, insurance, automotive and more. Yet, brands, especially outside of home services, often overlook this valuable opportunity.
As we enter the summer months, the most popular time for U.S. consumers to move to a new home, more than ever, mover marketing needs a gut renovation. It’s time for marketers to prioritize mover marketing and modernize how they engage movers throughout the move process and beyond direct mail.
Cracks in the foundation of mover marketing
Brands have made substantial investments in technology and data to reach the right consumers but miss obvious opportunities in all of that complexity. Movers are the most economically valuable consumers across numerous categories, and brands are reaching them too late, and in the wrong channels. By leveraging technology-driven innovation, brands can now reach and monetize movers far more effectively than ever before.
Identifying movers earlier in the move cycle
For decades, marketers have been using the same outdated tactics to engage consumers moving to a new home. Data sources are often stagnant, based on limited sources of real estate data and self-reported change of address information provided to the USPS. As a result, marketers have little visibility into the complete move cycle. They can only target consumers after the move has occurred, often too late and after consumers have made their most valuable purchase decisions.
By leveraging rich data and cutting-edge technology, brands can identify potential movers or consumers who have their homes listed but are not moving. Over this stage, which lasts on average six weeks, brands can begin to build relationships.
Another lucrative audience for marketers to identify is verified pre-movers. These consumers typically have their home under contract and are in the inspection, moving or financing process. During this two-to-six-week period, consumers are actively shopping for move-related goods and services, making it one of the most valuable opportunities in the move cycle.
Article originally appeared on Adweek.
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