Skip to content Skip to search

Insight Center Resources

Industry knowledge to help you grow your business

New Mover Programs Continue to Deliver Results

Despite the recent decline in the national relocation rate, new mover programs continue to deliver strong results for many financial institutions. Based on the April 23, 2009 Census Bureau release, US relocation rate had declined to a 60 year low. It is important to note that while the number has declined, it remains at 11.9% of the population or 35 million people. Rates vary significantly based on region.

Due to the declining home values in many markets, some homeowners are held hostage until values begin to increase again. The home price changes have impacted the profile of those moving with a greater portion of moves happening for renters in the 20 – 29 age bracket.

SU V1i2-graph

So What’s The Opportunity?

In this unique economic time, the new mover population represents a fertile ground for focusing on young professionals and young families. This population represents a significant portion of new movers. While young professionals and young families have always been one of the largest segments of new movers, given the decline in all other segments, they are now more prominent.

New movers remain a pool of the most responsive prospects for any financial institution. People who are moving spend more during the three months surrounding their move than non-movers spend in five years. The “Hot Period” for movers is 90 days before, during and after the move. During this period homeowners will spend over $9,400 on discretionary purchases within 90 days of moving (source: Movers may also be in the midst of other life transitions (new job, marriage, growing family). Consumers change behavior when they move, even if moving a few blocks.  New movers change financial institutions, grocery stores, doctors, service providers and products they buy because of altered traffic patterns. This transformation process can last for up to two years as the new mover develops their sense of home.

This population remains an identifiable group with deposits in play, therefore they are an excellent target for financial institutions to increase market share in deposits, loans and ancillary services.

Solutions for Maximizing Your New Mover Opportunity

3 keys to success:


  • Be First in the Mailbox: By arriving early in the move process with a relevant offer, your institution enters the consumer consideration set. With so many purchases happening within 90 days of a move, it is vital a consumer become established with their financial institutions.  An important part of the process to consider is the list provider. When choosing a provider of new mover names, it is important to determine both the timeliness and accuracy of the data you will be receiving. Sources and quality of this data vary widely; lists derived from multiple sources provide superior accuracy compared to stand alone phone hook-up lists. By utilizing compiled lists each new address is obtained from the fastest data source, allowing financial institutions to be first in consumer mailboxes.
  • Make Relevant Offers: Given the large percentage of new movers in the 20 – 29 age group, product preferences of this population need to be included. To ensure appeal to the younger target, products such as mobile banking, internet banking, online bill payment and money market savings should be at the forefront. Additionally, consideration should be given to a broader array of products that support the purchase new movers are likely making in the first 90 days after the move event. Some of the purchases being made early in the move process include:
  • 84% of home buyers plan major home improvements
  • 79% of home buyers plan to make an appliance purchase
  • 71% of movers will need a variety of insurance products
  • 71% of movers will change cable/satellite services
  • 67% of movers plan to buy new furniture
  • 52% of movers will change or open new financial services


  • Follow-up: Due to the number of messages hitting new movers in the first 45 days, it is important to follow-up with a second contact. The contact should reiterate the initial product offers and provide a strong call to action.

Since 48% of new moves occur between the months of June and September, now is an excellent time to implement this type of program or review your existing program performance. Given the ongoing battle for new deposit dollars, new movers is definitely a segment that performs strongly and should be included in a financial institution’s comprehensive acquisition strategy.

To learn more about deploying a best practice New Mover program, contact our Harland Clarke Account Executive or call our toll free number 1.866.609.8609.