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New Movers & Social Media Purchase Power
We want to talk a little bit about social media. This is where we saw some really interesting data. More and more consumers are making purchases through social media. This isn’t new and we know as advertisers, there’s been an ever-increasing investment in social media advertising channels or organic channels. David, any thoughts about this data?
Just looking at the right-hand side, 56% say they have made a purchase because of a social media ad. Then, when you look at that box way on the right, you can see the numbers are even higher for millennials at 65%. Current owners are at 61% and 65% of first-time homebuyers are acknowledging that they’ve made purchases through social media advertising.
The data on the left is just an acknowledgment of what we all probably know and that’s that people are heavily using social media. Half are using it several times a day and another 15% at least once a day.
So, almost everybody, at some level, is on social media, whether a lot or fairly regularly.
And, I think knowing that, marketers then want to place their ads to try to entice people to make purchases and that’s a good way to reach people. When we look at the next slide, we can see that even more. People are acknowledging where they’re going and whether this is working for them.
Movers especially have good reason to really be on social media either letting people know that they’re moving and sharing that information that they are in a new home. And I think it’s also a very widespread way of looking for new services through social media. They are trying to become more familiar with the new area where they now live.
For example, I’m fairly new to the Tampa area and I follow a lot of different Tampa social type entities to keep up on the different happenings in the area or events and things like that. Or, another example, when I moved into my home, I was beginning to decorate it and started to follow a lot of Instagram decorating influencers to get ideas on different decorating hacks and things like that.
For brands, as you can attach yourself to really interesting relevant content for those movers, you’re really able to target those specific audiences and it’s a really great way to increase your ROI and focus on the audiences who are in the moving moment by talking to their specific needs. I keep going back to this dataset and this information and Porch Group Media’s ability to drive these audiences is just such a really unique thing.
I hope that the folks who are listening in today are able to take advantage of that because it is a very unique and time-driven dataset that can help you market to these folks. And Porch Group Media also offers marketing services to be able to help you with it if you’re a smaller or medium-sized company and don’t have the staff to necessarily do these more targeted audience segments. And then lastly, they have a great sales dashboard where you can really see your closed loop ROI, end-to-end, and a lot of the other companies that offer this type of service don’t necessarily have those tools. So you can really measure your closed-loop ROI. I would keep that in mind, for sure.
Social media is one of the channels in which Porch Group Media can really help find those audiences and do the sequential messaging and get the timing right.
So David, you were mentioning this next slide. Tell us what you’re seeing here.
Well, this does a bit of a deeper dive into where new movers are going and how they’re making purchases or how they’re going to be influence based on ads and where they are seeing these ads.
So looking at the top row, 65% or almost two-thirds are saying that they will be making a purchase going through a search engine like Google or Bing or Duck Duck Go.
62%, are being influenced to make a purchase based on an ad when using social media, whether it’s Facebook or Instagram or Pinterest or Tik Tok. And 61% are influenced to make a purchase based on using the search engine.
And even the last one, 58% are making a purchase through an ad using social media like Facebook.
So all of these are showing that basically, movers are acknowledging that they are likely to make purchases or be influenced by the ads that they see on search engines or social media.
I’m sure that’s good news for the marketers who are joining us today because it’s a little bit of job security, right? That the businesses count on them to put these ads out but also that we know consumers, especially moving consumers who are really influenced by these different marketing engines. And so it’s important to find them when they’re in their move journey.
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