Winning the Retention Battle: How Movers Alerts Can Help You Keep Customers on the Move

Introduction

Customer churn is a constant challenge, especially during significant life changes like moving house, when customers are more likely to switch providers.

For industries like telecommunications, gas and energy retailers, insurance, and debt recovery, retaining customers during this transitional period is key to reducing churn and driving profitability.

Of realestate.com.au users (Mar-24) with intent to move in the next 12 months (N12M):

• 25% have intent to change their electricity supplier in the N12M.
• 18% have intent to change their gas supplier in the N12M.
• 17% have intent to change their home internet service provider in the N12M, which 9% more likely than the average mover (N12M) population.
• 25% have intent to change their mobile phone service provider in the N12M.
• 13% have intent to change their STV bundle in the N12M, which 5% more likely than the average mover (N12M) population.
• 20% have intent to change their main financial institution in the next 6 months.

Source: Nielsen Consumer and Media View, 2024 Survey 03 National Online database. Time period May 23 – Apr 24, Fused Nielsen Digital Content Planning (Text): March 2024, realestate.com.au. Base: Intent to move N12M.

This blog will explore how leveraging Movers Alerts can help organisations proactively engage customers before they move, reducing the risk of losing them to competitors. By staying one step ahead, companies can offer new products, innovative services, and maintain a stable customer base for real growth.

The Customer Churn Problem During House Moves

Churn Rates During Moves: Moving house is one of the most common triggers for customers to reassess their current service providers. Whether it’s switching telecom plans, energy suppliers, or insurance policies, moving presents a prime opportunity for customers to explore alternative options, resulting in high churn rates across industries.

• Of realestate.com.au’s users in the last month, 19% have intent to move in the next 12 months, which is 13% more likely than the average population. Additionally, 35% have intent to move in the time period of 12 months or more, which is 5% more likely than the average population.

Source: Nielsen Consumer and Media View, 2024 Survey 03 National Online database. Time period May 23 – Apr 24, Fused Nielsen Digital Content Planning (Text): March 2024, realestate.com.au. Base: Australian population 14+.

Missed Opportunities: Without early warning, companies often miss the chance to engage with customers at a key decision-making moment, leaving them vulnerable to competitors' offers. This can lead to a constant struggle to balance customer acquisition with retention, stifling real growth.

How Movers Alerts Helps You Stay One Step Ahead

Data-Driven Proactivity: Movers Alerts leverages real estate listings from realestate.com.au and property data from PropTrack to flag when a customer is likely to move, giving organisations the insight they need to engage customers before they consider switching providers.

First to Market with New Offers: By identifying movers early, companies can be first to market with relevant offers, such as tailored service packages or innovative new products, ahead of their competitors. Whether it’s a seamless service transfer for telecom providers or an updated insurance policy for a new home, Movers Alerts allows organisations to stay ahead of customer needs.

Targeted Engagement: Movers Alerts empowers companies to deliver timely, personalised messages that resonate with customers’ immediate needs. Offering them loyalty incentives, new service packages, or special deals before they make a switch increases the likelihood of retaining them during this critical phase.

Real-World Application: Movers Alerts in the Telecommunications Industry

The Challenge: Telecom providers often see high churn rates when customers move, as new homes offer an opportunity to reconsider service providers. Without timely engagement, customers may be swayed by competitors’ offers.

The Solution: By using Movers Alerts, telecom companies can anticipate when a customer is about to move and proactively engage them with a tailored offer. This could be a service transfer to the new home, discounts on installation, or an upgraded plan that fits their new lifestyle.

The Results: Beyond reducing churn, this proactive approach creates a stable baseline of customers, enabling real growth rather than simply balancing acquisition against churn. A stable customer base allows companies to focus on expanding their offerings and reaching new markets.

Maximising Customer Retention Across Multiple Industries

Telecommunications: Movers Alerts helps telecom companies offer seamless service transfers or exclusive loyalty offers before customers look to switch providers.

Gas & Energy Retailers: Energy providers can offer customers customised deals or competitive rates for their new homes, ensuring continuity of service and reducing the risk of churn. With churn recently at the highest level seen for several years for one provider, often from elements that retailers can’t control, getting on top of other avenues like movers is paramount.

Insurance Providers: Movers Alerts enables insurers to update and tailor policies for customers moving into new homes, providing a seamless transition and reducing the temptation to explore other options.

Debt Recovery: Debt recovery firms can track customers who might relocate without updating their details, ensuring ongoing engagement for follow-ups and minimising delinquencies.

Optimising Retention for Greater Margins

A well-executed retention strategy doesn’t just reduce churn—it generates more margin from existing customers. By engaging customers early, offering them personalised solutions, and ensuring continuity of service, companies can drive more value from their current customer base. This applies across all industries, from telecommunications to utilities, as reducing customer turnover means better profitability without the costly efforts of acquiring new customers.

PropTrack’s Movers Alerts: Your Retention Strategy Powerhouse

The Power of Predictive Data: With PropTrack’s unique propensity models, companies can take it one step further and leverage transformative property data to predict customer movements and react before they even list.

Easy Integration: Movers Alerts integrates easily with existing CRM or marketing platforms, making it straightforward for organisations to leverage this powerful data and incorporate it into their retention strategies.

Industry-Leading Accuracy: PropTrack’s Movers Alerts offers unparalleled accuracy by tapping into real-time property listings and predictive data, ensuring organisations can make well-informed decisions to retain customers.

Conclusion

The period around a house move is a critical moment for customer churn. However, by leveraging Movers Alerts, organisations can stay ahead of customer behavior, offering timely and relevant engagement to keep customers loyal and satisfied. Optimising your retention strategy not only reduces churn but also creates opportunities to generate more margin from your existing customers, unlocking real growth potential.

Ready to reduce customer churn and keep your customers on the move? Learn how PropTrack’s Movers Alerts can help you retain customers before they switch to a competitor.