Predictive analytics uses big data to determine a person’s future actions based on past activities and behaviors. Using thousands of data points at the consumer level, property level, and online behaviors, a “likelihood to move” score is applied to anyone on your list. The higher the score, the more likely the person is to move in the next 6-12 months.
What data is used to determine a contact’s score?
Predictive analytics looks at publicly available data such as births, deaths, divorce, marriage, and other life events that may result in a change in their living situation. While this isn’t a guarantee that someone will move, it is an indicator that a change might be coming.
Looking at properties in a particular neighborhood or geographic location that mimic certain characteristics of other properties in the area that have recently sold can indicate there is a demand for that type of property and can impact the overall score. Combined with consumer data, someone that recently had a child and is living in a property with one or two bedrooms could indicate that they will need to upgrade soon.
If someone is searching for properties on real estate websites or has interacted with content on social media related to real estate, this could be indicative of their intentions of moving. All of this data is anonymous and we can’t see specifically what a contact did, but when all data points are considered—and match people’s activity that have recently moved—it increases their score and marks them as more likely to move.
How accurate is this data?
While no predictive data can be 100% accurate, we have found through testing that it will accurately predict 24% of home sales.
A good way to visualize this would be if there are 2,000 homes within an area, and that area has a 5% turnover rate, we know that 100 homes will likely sell in that area in the next 12 months. If 300 homes in that area are predicted to sell, 72 of those will have been identified as “likely to move” or “very likely to move.” So even though this will produce some false positives, it is still more accurate and cost effective than targeting all 2,000 homes or guessing which 100 will sell.
What does ReminderMedia do with this data?
ReminderMedia does not receive any information on what contributed to the “likely to move” score, we only receive the score of the contact and property. We never give out this information to anyone else and only you see this score. If someone else has the same contact in their list, they will also see the score.
What should I do with this information?
Reviewing people on your list that are “likely to move” after your magazines have been delivered are a great way to focus your follow-up phone calls. Don’t assume that the person has intentions of moving. We suggest the best way to use it is using the magazine as a reason to follow up. From there, feel free to offer a free market analysis of their home or any other offer that might give you more information about their intentions of moving. Use our free follow-up scripts to start following up today!
Can I find more people in my area that are likely to move?
Using our Targeted Mailing List, you can purchase a list of addresses in a zip code that are sorted by their “likely to move” score. While this data and these scripts are ideal for real estate, the list is available to any industry to help guide your targeted marketing.