We talk to dozens of moving companies every week. It gives us a pretty accurate view of the business, and on a national basis. Our findings:
- IT’S SLOW: Even by 2019 standards, business is down because home sales are down. This past June, home sales were down 18% from last year even.
- YOU CAN’T FIGHT THE FED: They are supposed to be independent of the President, but somehow they seem to be heavily influenced. The six or seven prime rate increases in the past year after an almost zero prime rate for nearly 20 years is a bit of a conundrum, to say the least.
- THE MORTGAGE RATE IS NEAR 7%: More than double about 18 months ago. Mortgages with a lower rate feel it unwise to move.
- SOMETHING LIKE 90% OF ALL CURRENT MORTGAGES HAVE A RATE UNDER 5%: I see different numbers here and there, but this is pretty accurate. It slows down people moving and your lead sources.
- ALMOST ALL MOVERS HAVE FELT THE LACK OF DEMAND: If people aren’t moving, they aren’t calling.
- BUT SOME MOVERS FARE BETTER THAN OTHERS: Yes, we have plenty of movers sold out already for August, maybe with fewer trucks on the road, but doing okay nonetheless.
- WHAT MOVING COMPANIES ARE DOING WELL: Those whose sites appear on the front page of Google. Since 90% of prospects don’t search beyond page one, any moving sites on subsequent pages don’t get considered.
- RIGHT NOW, IF YOUR SITE DOES NOT APPEAR ON PAGE ONE, YOU’RE PROBABLY STRUGGLING: It’s Marketing 101, those who keep marketing their businesses day in and day out will win. “Marketing” is not a button you can push, it’s a long-term commitment to optimizing your website day after day, month after month. Done well, it does pay off. We have case studies to prove it.
Even if your cash flow is not the greatest right now, you should be pursuing SEO with an expert of your choosing. There’s no “silver bullet,” but you will stabilize your sales.
Onward and upward!