New mover marketing, also known as “mover marketing,” targets consumers who are moving. The spending habits of movers are dynamic, changing drastically during the time of a move. With $11k on average spent throughout the moving journey, moving represents a major economic opportunity for businesses to acquire and retain customers.
Today, mover marketing uses rich consumer insights that enable marketers to go far beyond simple direct mail campaigns and contribute substantially to comprehensive customer acquisition and retention programs.
So, why are some marketers still on the fence about mover marketing?
V12 partnered with Ascend2 to field the 2022 Marketer’s Perspective on Mover Marketing survey to ask senior-level marketing professionals what was preventing them from implementing a mover marketing program. These were their top reasons why.
Top 8 Reasons Marketers are Not Using Mover Marketing Programs Yet & Why They Should
1. Mover Marketing is Not a Widespread Practice
Mover marketing has been around for a long time, yet the new mover audience often gets overlooked.
Nearly one-third (32%) of executives who do not use mover marketing say that the top reason for not implementing mover programs is because it is not a widespread practice in their industry. The most common industries amongst this group are retail, personal or professional services, and utilities or telecom, each of which provides ample opportunities to target new movers.
Most, if not all industries can benefit from mover marketing. According to research by V12 in partnership with The Harris Poll, 9 in 10 movers are willing to try new brands. This finding demonstrates that it’s more important than ever to make sure your brand gets in front of these moving consumers before it’s too late. If your customers move, your organization is at risk to lose them to a competitor who is running acquisition programs.
2. Inability to Identify Movers
Mover marketing’s highest value comes from being able to not only accurately identify those who are moving but knowing who these movers are early on. Identifying movers and reaching them throughout the move journey with a successful mover marketing program requires working with a partner that can help ensure all the aspects are handled seamlessly. Today, proprietary mover marketing audiences and insights from V12 and Porch identify moving consumers up to 6 weeks before they move, so your brand can reach them early on, and engage them through precisely targeted omnichannel mover programs.
3. Mover Marketing Doesn’t Align with Our Brand
Mover marketing serves brands in various industries. Chances are movers are buying the products and services you’re selling. Mover marketing users span several industries, including retail, personal services, technology, automotive, utilities/telecom, hospitality and travel, financial services, and insurance. Additionally, brands who use mover marketing are more than 2x more likely to report best-in-class success from their marketing strategies.
This points to the fact that those who are utilizing mover marketing programs report significantly more success than those who do not use mover marketing as part of their overall strategy.
4. Mover Marketing is Too Antiquated
Early on, mover marketing was based on post-move data, and campaigns were deployed through direct mail channels. Since then, it has evolved to be a dynamic strategy deployed across digital channels.
The landscape of how marketers target new movers is developing rapidly. New mover audiences can now be enhanced with rich insights into consumer preferences, lifestyles, interests, property data and purchase intent signals. By strategically utilizing these insights, marketers are making an impact with mover marketing programs.
In fact, nearly all mover marketing adopters from our research reported that they feel that mover marketing is changing for the better with 95% reporting that the effectiveness of mover marketing programs at achieving strategic goals is increasing.
5. Inability to Integrate Mover Marketing into a Digital Strategy
Mover marketing can be difficult for brands without the right insights to pursue digital strategies. Access to digitally addressable mover audiences has been a catalyst to the evolution of mover marketing from a simple direct mail piece delivered to a homeowner’s new address, to omnichannel campaigns featuring targeted content delivered across multiple channels and throughout the customer journey.
Mover marketing users are still splitting their mover marketing efforts nearly evenly between direct and digital channels, but our research indicates that marketers are starting to catch on to the digital trend with mover marketing efforts actually being more frequently executed in digital channels over direct.
6. Lack of Ability to Measure Performance of Mover Marketing
Two of the greatest challenges marketers face when executing mover marketing programs is making data actionable and measuring ROI. It goes without saying that being able to measure performance is key in determining the success of your mover programs.
The V12 team solves this problem of not being able to measure performance by helping brands understand, develop, and optimize the perfect mover marketing strategy by tracking:
- Overall acquisition, upsell, and retention goals
- The data and engagement strategies necessary to achieve those goals
- Previous campaign performance
- Program and campaign agenda
- Key KPIs and success measures
7. Lack of Timely Insights to Retain Moving Customers
If businesses can identify which of their customers are moving before they move, customer retention programs can be implemented before it’s too late.
V12’s MoverMatch solution allows brands to run mover retention programs that use CRM data and 3rd party data to identify which customers are in the moving process so they can be retained at their new location.
8. Mover Marketing Targets Consumers Too Late in the Buying Cycle
Brands have historically only been able to access movers after the move when it’s often too late in the buying cycle. Considering that 3 out of 5 movers are making major purchase decisions PRIOR to moving, brands must target movers in the premove phase.
V12 offer insights into premovers 35% faster than other vendors in the market, from movers who are considering a move to verified premovers 2-6 week from the move.
Having access to movers and understanding their consumer profiles pre-move is essential to reaching them with your message and turning them into new customers for your business.
V12, A Porch Company, and Ascend2 benchmark the performance of business strategies and the tactics and technology that drives them. With a custom online questionnaire, this survey was fielded to a panel of 253 marketing professionals in management and leadership positions throughout the United States. Respondents represented organizations with an annual revenue of $100M or more, operating in the B2C channel. The responses were collected during the months of February and March 2022.
The 2022 Marketer’s Perspective on Mover Marketing
Download the free 2022 Marketer’s Perspective on Mover Marketing Report and explore how brands are utilizing mover marketing strategies to increase their customer acquisition and retention.