& Why They Matter
As you may know, new mover marketing is a big segment for Strata and an offering we’re quite proud of. We believe we do it best – not only because of our experience and skill, but because of the multiple channels we use, the data we provide and incorporate, and the digital touches we implement. We’ve had trust in, and have been executing, great new mover campaigns for several years now. It’s no wonder we have an eye on new mover trends that may arise and behaviors within this segment – but we’re not sure anyone predicted or was prepared for the shift in the new mover market that happened at and after the onset of the pandemic. Today, we’re looking at how the new mover market has changed since March of 2020, and the increased need for new mover marketing solutions that it’s caused.
Stats You Need to Know
To get started, we wanted to give you a few recent new mover statistics to take in and think on:
- A fifth of US adults moved or knew someone that did due to the pandemic.
- Over 110,000 people moved away from New York City between February and July of 2020.
- 487% more people moved out of NY in 2020 than in 2019.
- Although there was no “exodus” away from urban areas that some were claiming, people did and do seem to generally be “drifting towards the suburbs”.
- Families have mostly chosen to move to the suburbs, while those living alone have more often chosen to move to metropolitan areas (In the first half of 2021, 7 in every 10 people who moved into urban areas were those living on their own).
- 35% of moves related to Covid-19 happened because of financial hardships.
- 36% of movers in a recent study claimed their reasoning for moving to a new place was because they felt safer there.
- 10% of them indicated that they moved to places with less stringent Covid-19 restrictions.
Overall, the pandemic has shown to accelerate some moving trends that have already been underway – and also create a few new ones. This, of course, has also had an impact on the effectiveness of new mover marketing (marketing specifically targeting new residents in your area).
What’s Causing all the Movement?
There are several reasons people are moving, some of them which we stated in the statistics above – and others that we’ll get into now. First and foremost, a big reason many have moved and are moving is financial stress. Many are moving to less expensive housing and apartment living to cut costs during these financially tough times. Additionally, apartment amenities or “big city” expenses that were previously valuable became almost meaningless during the peak of Covid-19, causing apartment-dwellers to rethink their living expenses.
Due to increases in work-from-home life and more flexible working hours and situations, people are craving more space. Because of this change, many are moving to larger spaces where they can work more comfortably. Additionally, they’re moving to where they truly want to be instead of where they previously “had” to be for their in-office employment.
For some people in different areas around the country and different industries within the workforce, finding employment during the pandemic has been tough, so this has caused some to find employment elsewhere and relocate.
And lastly, throughout the pandemic, the realization or reminder of the importance and need for family support during times of crisis and distress has been prominent – so many have moved and are still moving to be closer to the ones they love.
Overall – no matter where, when, or why they’re moving, people are definitely on the move since the onset of Covid-19.
How These Numbers (And the Causes Behind Them) Make Marketing to New Movers Essential
As you can probably imagine, as people move out of your area, you lose those customers, but as people move in, the opportunity arises for new customers to replace the old. So, more movers mean more new opportunity – but not if a competitor snatches them up by getting to them first and making a good impression.
That’s why it’s so important to be the first to put your brand in front of this niche audience, and to deliver quality marketing that welcomes, attracts, and entices them. New mover marketing programs are made to keep you connected with these new residents on a consistent basis, so that you’re never missing out on a new customer that, if targeted correctly, could become a loyal, repeat one.
Strata’s program, SmartMove, is a robust, multichannel, multi-touch, new mover marketing program that helps you find the right time and place to reach your target audience, right as they move into your surrounding area. We’ll help you reach this audience throughout their customer journey to build brand loyalty and trust and turn them into long-term, devoted customers. Interested in hearing more of our thoughts on the new mover market, or ready to start your first (or next) new mover campaign? Give us a call.