The state of the housing market has been, and continues to be, a hot topic. It’s a hot topic in my personal life too because after years of waiting for the “right time to buy” I am closing on my first home on Monday. (Knock on my new hardwood floors.)
So after months and months of searching, researching, planning and hoping, it’s finally time for the move. After all of the anticipation, I can’t wait to get all of my stuff into my new place and begin making it my own. It’s exciting, but it’s also surprisingly expensive. Sure, I was prepared for the incidentals like the truck, the tape, etc., but what I have started to realize is that moving into a new home sets off a domino effect of spending that my wallet will feel for quite some time.
Not only am I excited to overzealously clean my new home, likely with a slew of new household cleaning products, I am also much more likely to make impulse buys when I see something that I imagine will look great in my new place. Moving, then, unlocks a treasure trove of opportunities for the savvy marketer.
A Zillow Mover Study found that 21 percent of movers spend $10,000 or more on products and services as a result of their move. What’s even more interesting is that moving seems to have a dramatic effect on brand loyalty. A recent mover is much more likely to try a new brand during this period. The same Zillow study found that movers are 62 percent more likely to use a new skincare brand and 85 percent more likely to try a new household cleaner than non-movers.
This purchase-minded, slightly self-absorbed consumer group is a huge marketing opportunity. From toilet cleaner to cars, the odds that a brand will successfully make it into my home, and potentially my lifestyle, are significantly improved.
But, as a marketer, where is the best place and the best time to grab my attention during this hectic phase? The change of address form leads to the standard coupons to places like Pottery Barn and Crate and Barrel, but I’m surprised that tell-tale purchases at the local supermarket and address changes on retail credit cards and other reward cards don’t produce a flood of enticing moving-specific email offers. Marketers can detect and capitalize on other lifestyle changes, like pregnancy, so why aren’t I getting more “new home” targeted eblasts?
If my lack of moving-themed offers is any indication, taking advantage of this opportunity is not as easy as it seems. And without persuasive marketing offers, brands are losing out on the opportunity to be my next window cleaner or lotion of choice. Being in the local coupon packet is not enough—it’s going to take some creativity to capitalize on this overlooked target.
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