Last year, 11.6% of the entire U.S. population moved. While some moved within the same community, it is far more common for people to move to new areas in a city, new cities, new states, or even overseas. For many businesses, this means losing customers as people leave the area. However, in most geographies, new prospects are arriving to replace the recently departed. For high job-growth areas such as Texas (home to 4 of the 5 fastest-growing cities in the U.S. right now), new people are moving in literally every minute. When a person moves to a new area, they typically shed products/services from their last home -- either to physically make room or because a service, such as banking, isn’t available in the new location.
Savvy businesses seize the opportunity to target new movers, both to create awareness for their brands among a new pool of prospects, and to acquire new customers.