When is the right time to market to this audience?
The ideal time for a new mover campaign to begin is prior to the closing of a mortgage. This is because new movers spend an average of $10,000 on top of their closing costs1, and if you yourself have moved, you know that the expenses begin much sooner than the time you legally change your address.
Common expenses include: moving companies, new appliances, home improvements such as painting and flooring, new home furnishings like linens, kitchen smallwares, furniture, and more. The average mover also shows an increase in dining expenses and entertainment as they set up their new homes and explore their new neighborhoods.
For Financial Institutions, the prime opportunity to market credit cards and loan products is before these other big purchases are made.