New Mover Spending Habits
For years, we have known that new movers plan to spend more money in their first 6 months than the average person does in 2-3 years. We finally have survey results that show how much money the new movers will be spending, how they will pay for these purchases, and the products they plan to purchase within the next 3, 6, or 12 months.
Judge for yourself the value to your business that these new movers can bring. Now you can see exactly where and when these new movers will be spending their money. This is what makes new movers so special. When surveyed, 39% of new movers responded they will spend over $30,000 in the first month and 66% will spend in excess of $15,000.
When asked what upgrades and improvements were they planning to make to their new home they responded as follows: 28% will have their bathroom remodeled, 47% will require general handyman services. Other answers and percentages of people answering ‘Yes’ are as follows: Fencing 18%, Kitchen Remodel 21%, Landscaping 29%, Lighting/Outdoor 19%, Painting 35%, Patio/Deck 24%, Repaving Driveway 9%, Security System 61%, Sprinkler System 21%, Wall Covering 9%, and Window Replacement 17%.
People who just moved have a huge need for securing different contractor services as well. When asked what services they would require within 1-3 months they answered: plumber 28%, electrician 30%, mason 13%, fencer 18%, painter 35%, wallpaper 12%, carpet 29% and a carpenter 35%.
New movers also have a need to secure new professionals to handle these services. When new movers were asked 68% answered they would change their primary doctor, 59% their insurance agent, 41% their dentist, 24% their accountant and 77% their bank.
When asked what products they plan to purchase within the first six months 58% responded that they would purchase a new automobile, and almost 100% planned on buying some piece of furniture. Other answers included purchasing: Bathroom Accessories 70%, Bedding/Linens 54%, Carpeting/Rugs 62%, Draperies 36%, Flooring 61%, Mattresses 44% and Mini Blinds 83%.
As is evident, having a direct response mailing program targeted to new movers should not only be a critical part of your marketing mix, but will most likely prove to be your best source of new business.
When you contact the new movers that recently entered your community, you should plan to make a very compelling offer. These new families will be your customers for years and years. You want to do everything to encourage them to contact you. As you know, nothing works better than FREE. A free pool service, free lawn service, dry clean a garment for free, a free meal, a free check-up, a free pizza. All of these are “too good to resist”. If you can’t do it free, then meet them half way – free soda with pizza, a free bottle of wine with dinner, or 50% off your first visit, or $25 off your first visit.