To know if your real estate marketing actions are giving positive or negative results, it is essential to have some things in line.
After all, we only know that we are going the right way in two ways: either knowing the way (which is not always possible), or being guided by a GPS that does the reconnaissance work for us.
Of course, this is a metaphor. But it can – and should – be part of your marketing action analysis method for a simple reason: if you don’t know what results you want to achieve, any one will do.
And working this way (in random mode) is very bad: you waste resources, opportunities and bureaucratize your real estate growth.
Thus, to help you better understand how to measure the data of a marketing campaign (as simple as it is), follow the text by Blue world City.
Real estate marketing actions – How to measure results correctly?
To measure the results of your real estate marketing actions, you need to understand some important points. And it all starts at the beginning, where you are still defining and planning what you want to achieve.
As a way to make your work easier, there are numerous metrics that can be used, such as ROI, CAC, among others.
All metrics are good and useful. But at the same time, they can all turn into a sea of random information laid out on the table.
So our first tip is: don’t complicate! Using dozens of tools or metrics can be a mistake. Try to leave everything in clean cloths.
But how to do this? We’ll help you with a practical guide, with some topics that need to be considered to measure each marketing action you take. See below:
- It all starts with a good plan to guide the direction – Correct, clear and objective;
- Everything can be measured and interpreted – As long as there is enough data;
- The basics bring the most results – Don’t complicate your analysis with complex indicators;
- What is ROI and how can it be used to measure performance?
- CAC – Cost per customer acquisition – How much does each customer you bring to your real estate cost?
- Master the Real Estate Sales Funnel – It will bring you lots of insights and information;
Let’s explore each of the above topics in more detail to deepen your study. Follow it to understand everything about the subject!
It all starts with a good plan to guide the direction – Correct, clear and objective
Starting from a very basic principle, we need to understand that any real estate marketing action must start from a plan.
In other words, if you want to advertise a property, it is essential to do it thoughtfully. Otherwise, it will be at random. And, as you know, randomness is the enemy of metrics.
So, write your plan. It can be on a simple notebook sheet. This simple action will ensure that you do not deviate from your current plan and, at the end of the action cycle, you will be able to interpret the generated data more truthfully.
Define the primary, secondary, tertiary or however many goals. The step-by-step needs to be detailed and simple so that, when announcing, you only perform what needs to be performed (because everything is already thought out).
With a simple and objective plan, you will be able, at the end of the campaign, to make all the measurements to understand whether or not you reached the objective proposed in the plan. That simple.
Everything can be measured and interpreted – As long as there is enough data
Measuring results and reading real estate marketing action metrics can be very stressful or very quick and easy.
It will all depend on how you will structure your plan (see previous topic). And there is a big difference between reading the generated data, interpreting it and analyzing it.
For example, imagine that you are going to advertise a property on Facebook and hope to reach 50 people from a certain audience. However, you managed to reach only 45 people and, of these 45 people, one bought a product or service.
What can we extract from this data? Various information. See below:
- You only reached 90% of your target audience ;
- You only needed to reach 90% of your target audience to convert;
- 10% of your target audience was not impacted by the campaign;
- The campaign was a success as it reached practically the entire audience;
- The campaign was a failure as it did not reach the entire audience proposed in the plan;
- For every 45 prospects impacted, you make 1 sale;
Can you see how just one result gives rise to a series of different interpretations? This is because the analysis does not have a plan.
In other words, we wouldn’t have an idea of how good or bad this campaign was, without a plan/goal. She could have been excellent, or terrible.
Who will define, are the metrics? And the metrics will only be valid and true on the assumption that there is a plan.
The basics bring the most results – Don’t complicate your analysis with complex indicators
There is a certain romanticism established in the field of analysis and interpretation of metrics of a marketing action. Often, people end up preferring to “overcome obstacles” when they are complex. The sense of accomplishment is greater and generates more adrenaline.
However, this is not necessarily what will bring the best results. Because it will take much more time and money to analyze a difficult-to-read metric.
So, keep it simple. Make everything clear and objective. The simpler your actions, the simpler it will be to analyze.
You don’t want to be the biggest reader or reader of graphics. You want your real estate agency to walk along the right tracks. Always think about it.
Of course, we cannot confuse simplicity with simplicity. One thing is different from another.
A simple analysis is to understand that 1+1 is equal to 2. A simple analysis is to understand that 1+1 is obviously equal to 2 and, therefore, this information does not need to be analyzed. Can you tell the difference?
What is ROI and how can it be used to measure performance?
This is one of the most interesting and simple metrics you can implement during your real estate marketing actions.
ROI is the return on investment. In other words, how much did you get in return, after making ads on Facebook, Google, Newspaper or Outdoor ?
ROI will crudely deliver a number. This number is what can guide the rest of your actions: continue or stop. After all, when we advertise, we are looking for a goal, isn’t it? And this goal doesn’t necessarily have to be a sale.
That is, the ROI can be based on entries generated, subscribed to a list, attendance at an event or, of course, actually a sale.
It will all depend on your marketing plan . So, what is your goal? It is based on this that you will get the ROI of the campaign.
Cost per customer acquisition – How much does each customer you bring to your real estate cost?
Another really cool metric that you can consider to analyze your real estate marketing actions is CAC. That is, the cost per customer acquisition.
This data is what will inform the amount of money or resources that you invest, to be able to have an effective client in your real estate.
This data can make you deal much better with investing in ads and other sectors of your real estate. It can be a kind of GPS, which can help you find the best paths to reach your destination.
For example, if a product or service costs X, but it costs 2X to bring a customer to the real estate agency, you need to review your campaign. This is a simple, straightforward metric that ultimately pays off.
Master the Real Estate Sales Funnel – It Will Bring Lots of Insights and Information
Have you ever heard of real estate sales funnel ? This is one of the best ways to build a sales stream for products or services. After all, it is through a good funnel that you will understand which stage each prospect is at.
Those at the top of the funnel have just arrived and have just met your real estate agency. Those at the bottom of the funnel are almost buying a product and effectively converting.
This is a marketing tool that will help you sell more and target the right prospects. Plus, it serves as a great metric.
After all, you’ll be able to know in real time where each prospect is in your funnel. Which gives you an incredible amount of information about what to do and what not to do.
Tips for real estate marketing actions to bring good results
What is the best marketing tool? Which campaign converts the most? What is the best Facebook Ads strategy for real estate ?
All these questions are difficult to answer. After all, we would have to use a bunch of “depends” to answer them.
However, what can you do to get good results with your strategies and sell more? There is a process that allows you to “get there”.
And we’ll help you understand this process so you can put it into practice. Here are some tips to perform good real estate marketing actions:
- Don’t do anything randomly – Map all actions so you can measure them later;
- Make a long-range plan, but don’t forget today;
- Use dedicated tools for your real estate – Count on Ville Imob;
We will understand each point individually for your study to go deeper. Keep reading.
Don’t do anything randomly – Map all actions so you can measure them later
Randomness is the enemy of any management, organization, plan or process.
Doing things randomly can mean a company going bankrupt or even dismantling a winning real estate team .
Therefore, whenever you start any action, think the following: “Am I doing it randomly, or thoughtfully”?
We’ve already mentioned this during the text. After all, mapping all the actions is the only way to understand where the numbers are coming from.
You need to create a kind of “siege”, with everything that is done inside your real estate. Thus, the chances of you drawing real and not hasty conclusions are much greater.
For example, if you invest in Facebook, Google, Outdoor and Newspaper ads at the same time and, over time, start selling more, you need to understand what is happening to optimize those sales and profits.
You need to know where the sales are coming from, which vehicle people are making their decisions by, or understand if it’s the set of ads that’s building the value needed to convert customers.
This all sounds complicated.
But if you focus from the beginning the right way, understanding your target audience and setting the right goals, everything will be clear and simple to understand.
Make a long-term plan, but don’t forget today
Have a plan. Regardless of whether the plan is good or bad, have a plan.
With a plan, you will know how to map and analyze all real estate marketing actions. If the plan is bad, you already know that this is not the best way. And if it’s good, you can think of optimizations.
And to have a well-structured plan, we recommend that you think about the long term, but not forgetting the medium and short term.
For example, structure a marketing plan for 3 or 4 years. And, within this period, stipulate medium and short-term mini-plans.
It’s like a stepladder. You win one plan at a time and gain complete mastery of what’s going on and where you want to go.
Avoid taking action to get results for yesterday. And avoid putting together a plastered plan of many years without looking at today.
Use dedicated tools for your real estate – Count on Ville Imob
And finally, count on Ville Imob to find tools that will help you optimize internal processes and, consequently, make your real estate company sell more.
After all, it’s no use having knowledge, but not having the right tools so that results can happen, isn’t it?