Anybody ever participate in Welcome Wagon, or market to "new movers" in some other way? I have done some research online, but can't find too many testimonials, though it does appear to work great for "services of need" (i.e. dentist, pediatrician, mechanic, etc.) that people need to find quickly upon moving to a new area.
Our service is just not one of those "gotta have it" services. I just thought this might be a source for a few good leads a month, and touches people that do not yet have any existing relationship in the area, or opinions of any existing advisors in the area (my biggest competition is the longevity of some of the advisors in our area).
I had a very bad experience with Welcome Wagon. They were charging me for names of people who moved across town, and they sent me several names that were the result of 911 address changes. Bottom line they do not have a sorting system. Their answer for bad names is to replace them with more bad names. I called every name, and never got even an appt. Finally had to get a lawyer involved to cancel the contract. That has been 4-5 years ago, so mybe it is better now.
What were the typical number of leads you would get per month?
I am also looking at buying a "new movers" list from InfoUSA, but scrubbing it out for movers within the same zipcode. It is far less expensive than Welcome Wagon, but you don't get any of then free mailings that go with it.
I'm not sure what InfoUSA charges, but you may want to look at MelissaData as well.
I used to use them, and they would email me the list weekly. The only bad thing is that a lot of the "new movers" were actually people who had just refinanced their mortgage. That's probably not happening as much anymore.
I've done WW. Just like everything else with prospecting, you get out what you put in. Don't expect ANY calls from those people. Changing investment firms is the last thing on someone's mind right after they've moved.
I was getting somewhere between 50-70 names a month. You contract with them to provide those names (printed form or email XL sheet) for a year. They'll quote you a number of guaranteed names, say 600 in 12 months. They'll keep sending you lists until their guaranteed number is completed. I got the lists for about 14 months before they were off the hook.
I've talked with a couple other Jones guys in the metro area that have used them. One said he did nothing with the list and got nothing out of it. The other said he used the list to go FTF on Fridays. He said it had been a great asset gathering tool.
PM me if you want more specifics.
Just curious if anyone else has heard of others that had success with targeting "new movers" either on their own or thru "Welcome Wagon"-type services.
B24 - spend your resources on something more effective. Prefer to spend ie. 200.00 and get live / warm people that you have an opportunity to sell your expertise and put a value on it.
Thanks Norway. I have actually ruled out Welcome Wagon. I am thinking more about contacting new movers directly with information from me directly. I can call them on behalf of the Chamber of Commerce (I am part of their board).
I am just curious if anyones had actually had success with new movers in general (WW was just one marketing idea to get to them). The cost to get the new mover list each month (from InfoUSA) is far less than the full WW marketing campaign.
B24 - to be honest , I would spend my dollars on a Client Appreciation Night ( with a friend to attend ) .... a glass or TWO of wine , light snacks and really a nice way to chat up clients and their guests. Invite 10 clients and a GUEST. Casual and a get to know you thing. Cost maybe 150-200.00
B-A top producer in my region did WW religiously, with much success, for a couple of years. New guys are doing it with no luck. The difference.....the top producer delivered the WW kit personally. The new guys are hiring some third party to schlep the crap out. One even came to my home with the new guys info pack. I told the WW lady he was a co-worker of mine. She didn't care, went ahead and charged him for delivering his info to me. Moral to the story, do it personally or not at all.
B- I believe it was a chamber package to welcome new community members. He is in an area that probably attracts retirees which I'm sure helped. It is a way to do targeted F2F contacts. You can pay someone to do that for you, unfortunately I don't think it will yield much. These new guys are trying, and I don't think it is sucessful. Take them a map of the area, coupons to a friends business, your card, hell take them just about anything, just go meet them and get to know them. Let them know what you do. The rest will take care of itself.