New Homeowners have no set shopping or buying patterns. They do not have a favorite restaurant, dentist, plumber, hardware store, or clothing store. They do not know where to go for their goods and services. If a business can successfully invite a new homeowner to try their service, they might have a good, steady customer for years to come. (New Homeowners stay in their home for over eight years, while renters relocate every two years, according to a 1998 Census Bureau report. And an earlier report reported by U.S. News and World Report showed homeowners staying in their home for over 11 years!)
Both new businesses and established businesses can benefit from early and repeated contact to all the new families moving to the area. New businesses need to establish a presence and can project stability effectively to this market. Established businesses can highlight their success to new homeowners, knowing that The Homesteader is truly reaching potential new customers who might not know of them.
Most importantly, with all these needs, new homeowners do not have service providers picked out. Even getting referrals from friends is difficult when you are new in the neighborhood.
- New Homeowners have high income and great credit. In the greater Boston area, their 1999 median household income is $82,000, almost 8% higher than in 1998. Almost 89% are two-income families, with an average family size of 3.0. The average price of homes purchased is $241,500.
- New Homeowners replace lost customers. Businesses lose customers in a number of ways, including attrition, increased competition, or customers simply moving away. Using The Homesteader, a business can easily and effectively target every new homeowner moving in, not just during their first month, but for about two years. Advertising in The Homesteader can be an effective, long-term strategy for replacing lost customers. And businesses that wish to concentrate on new move-ins can use one of our First Contact programs, which reach new homeowners during their initial settling-in period.
- New Homeowners are the Best Consumers! They purchase many things for their home, including furniture, carpeting, decorating services, appliances, landscaping, contracting services, etc., and are much more likely to buy things than existing homeowners or renters. Because many new homeowners have children, all children’s products and services are a great match. Because of their high income, they are likely to be interested in high-ticket items like automobiles, jewelry, fashion items, personal services, and gifts. They are also in need of professional services from attorneys, medical, and dental care providers. They need financial services from accountants, banks, insurance agents, and financial planners. They are more likely to eat out at fine dining establishments, to travel, and to need catering and party services.