WHY TARGET NEW RESIDENTS?
- Up to 20% of your customers can be lost annually due to relocation. Replace them with newcomers who just relocated to your area.
- Newcomers are eager to turn their new residence into their HOME. They have a long list of needs — Welcome services target these newcomers during their initial 6 to 12 month “prime buy time.”
Spending & Loyalty Patterns:
- High level of excitement, optimism and momentum toward personalizing their home and finding new local services to replace those left behind.
- Less affected than regular consumers by economic factors: Within the first 6 months of their move they expect to spend and DO spend significantly more than other consumers.
- Less price sensitivity during the “settling in”process.
- The cliché,“only one chance to make a first impression” certainly applies to the newcomer, who is busy forming impressions and developing new habits in their new surroundings. Those businesses which serve them well from the start will be rewarded with long term loyalty.
- Newcomers provide great "word of mouth" referrals. As a "get-acquainted" tool, newcomers are far more likely than established residents to share their new lifestyle experiences with neighbors, friends, & work associates. Let their enthusiasm work for you!
- Why spend your entire budget doing repeat advertising to an established base in an effort to rise above the noise of your competition? Remember, newcomers are not yet someone else’s customer – but they don’t know where you are or what you do until you tell them.