Every company struggles to build a loyal customer base. The key is being there, with great service, when they need you most.
New Movers Need New Relationships
A great target customers who have not developed loyalties are those who have relocated to a new area. We call them New Movers are essentially a blank canvas. They have migrated away from easy and established business relationships and now must forge new business relationships. They are yours for the taking, if you know how to win them over.
A Responsive Marketing Niche On The Move
Americans on the move represent a massive marketing opportunity. According to the National Association of Realtors, people move every seven to nine years. They move because of marriage, change of job, births, retirement, divorce and sometimes “just because.”
New to an area, a person may feel uncertain, having severed social and community connections ranging from friends, neighbors, physicians, to even dentists and hairdressers. All of these things must now be replaced in their new location.
The Time to Strike
Timing is key to converting new movers into long term loyal customers. Once a person has relocated to a new area, they will spend an average of $7,100 on goods and services that can be directly attributed to their move. 80% of residents new to an area will try products and services from local businesses in the first 24 months.
Businesses are quick to seize on the opportunity of these new movers, but the problem is they are using the same conventional promotional offers they are using with everyone else. Offer them something more than the typical every day offer. To win new movers as a permanent customer, you should be offering these customers not only sufficient incentive to try your business, but also a gesture so sincere that they are taken aback by the generosity.
Look At Your Lifetime Value
It may be tempting to feel like that’s just too much to give away, but consider that if a family orders $25 worth of pizza most weekends, in four years, they will have generated up to $4,500 revenue for your business and a gross profit of approximately $3,500. A customer’s loyalty to an auto repair shop represents approximately $2,000 based on average turnover. A free dinner or oil change seems like kind of a bargain in comparison to what is to be gained. The question you should be asking is not can I afford to do a giveaway, but rather, can I afford not to do a giveaway?
New Homeowners are great targets for any business. Find out how many new homeowners have moved to your area, FREE. Click here or call 866-319-7109 today.