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*This content has been adapted from our Movers and Shakers podcast.
V12 has already driven some really powerful changes in the home retail vertical. Take us through those results and tell us how that came to be. These numbers are astounding.
The first case study for the vertical on the left-hand side is of a furniture retailer. You can imagine movers are critically important for them. So when someone is moving from one house to another, they may be thinking, “Hey, this furniture is not going to fit in this new house, so I need to replace it all.”
So imagine when you move, some of the things you brought with you, you’re like, “Why did I bring that? I need to update the look. And it’s a new home. It’s a new life.”
So this is the mentality of movers and this furniture chain, in particular, we’ve been working with them for a while. You can see the cumulative numbers over the course of a year or two where we have boosted revenue by millions of dollars because we helped them acquire thousands of new customers and over 6000 orders.
And it’s all on an incremental basis, right? Because when you identify consumers in your market, furniture might not be top of mind, and it costs a little bit more to make them understand or consider you and get them to go from a research state to a buying state. But the move is such a strong signal for furniture that whoever is moving, they are now evaluating all of their furniture.
And so being able to help them target those movers from the start of the planning of the move, through the move, even post 3 or 6 months later, we still see a big lift in conversion. Just knowing where they are and how long they’ve been in that address is huge. That’s a pure acquisition basis.
On the flip side, this home retailer is another interesting vertical that’s more about maintaining the home on a do-it-yourself basis. And so just understanding the move helps them with retention and understanding which customers are at risk because they’re moving. And then it also helps those consumers understand that they can use that retailer as they prepare their house and do some home improvement projects, before they move in, and then once they move in.
Because of the insights we have at Porch, we understand the move signal earlier and we understand it faster than anybody else. You can see the lifts there. Almost a 50% lift in scale. And reaching and identifying those audiences 35% sooner than everybody else.
And so once that retailer knows that they can change their CRM efforts to communicate directly with their known customers to make sure they are sending the right message about the products and services that that home retailer can provide to them in this critical time.
So, the CMO of the furniture chain store, his exact words were, “I don’t know why anybody would not run this program. It’s like printing money.” That’s just a fabulous comment.
In the second case study, one of the things that I think is really important is that a lot of times when people are evaluating the results of a mover program, they compare movers to other marketing programs that they’re running. And so when you look at some of the results, they’re comparing it to like another type of programs they’re running.
In this case, they actually compared our pre-mover data to other pre-mover data in the industry. And so, when you look at these results, that even makes it more powerful, right? Because this was taking our pre-mover data compared to all the other competitor premovers in the industry. And this was the lift above all the competition.
So that’s even better when you think about it because it’s pre-mover compared to other pre-mover data. One of the big things to understand about our pre-mover data is that we are out there 14 to 17 days earlier than other types of premover data that are out there in the industry.
When you’re thinking of a pre-mover, that’s a huge difference because that’s 2 to 3 weeks and you’re a pre-mover for probably at most 6 to 9 weeks. So that’s one-third of your time and so that is just key.
That’s another good point. This is a good example of audience planning, particularly that home retailer because they know the move puts consumers into a different buying pattern than everybody else.
And so you plan around the consumers rather than sending broad messages such as running an ad on a football game or direct mail inserts hoping to catch some people displaying an intent signal.
Whereas here are the people with this strong buying signal because it’s a move. You can talk to them appropriately so that you can capture a bigger share of their spend. It changes the way you plan and it changes the way you evaluate programs.
And you’re right, Michelle, it’s amazing when compared to other mover data. And it also changes the mindset of the retailer because they are looking at their consumer base and who is going to be the most valuable consumer over the next 12 weeks. Oh, it’s these people planning to move now, and then how do I plan my media spend so that most of my spend is going to the consumers that are going to be most valuable over the next 12 weeks.
It’s different than, “How much am I going to spend on this social channel? How much am I going to spend on this TV commercial and that sort of thing.”
Well, those case studies especially speak to a lot of what we’ve talked about, which is really just that predictability effectiveness and just the overall business results. I mean, what amazing results, and especially in the home retail industry, when you look at a large part of their business is B2B, it’s professionals and their contractors. But it’s also capturing those B2C consumers in that move event. How do you capture them early and keep them coming back during that whole homeowner journey.
The 2022 Marketer’s Perspective on Mover Marketing
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