Keeping leads up to date on developments that are being launched and the properties that are available is a function of email marketing for real estate agents. The tool also serves to do your after-sales work. But it is not enough to apply the strategy, it is necessary to measure the real estate email marketing metrics to know if it works or not.
In fact, perhaps a campaign has already earned you one or two conversions. But it is not possible to consider just a few isolated cases. Therefore, monitoring some specific indicators is extremely important to measure the efficiency of your actions. Maybe you can’t optimize them?
To help you out, we’re going to bring you five real estate email marketing metrics that every realtor should monitor. Stay tuned!
Clicks and opening of marketing emails
In principle, open and click-through rates are a great barometer to understand the reach of your email marketing. Generally speaking, the open rate indicates whether your title arouses interest in your contact base to the point that they open your piece. In turn, the click-through rate shows whether the links are well distributed within the message, as well as the relevance of its content.
In the case of the opening rate, it is important to emphasize that there may be a 5% margin of error. Some inboxes allow you to view part of the email without opening it, and that makes a difference.
At the beginning of the text, we already said that the fact that you have one or another return due to email marketing does not mean that the campaign was a success. However, translating those responses into numbers can mean a lot more, especially if the results are read in conjunction with other real estate email marketing metrics.
Quite simply, the response rate is the number of people who gave feedback, divided by the number of pieces sent. So if you sent the campaign to 100 people and 5 returned, your response rate is 5%.
The result can be affected by several variables, such as time of year and market situation, in addition to the campaign itself, of course.
It is also worth measuring how many leads reached by your email marketing closed business. Here, we are talking about the conversion rate, which is what really interests you, right?
The more conversions you make, the better your return on investment. So, this is a key metric. In addition to real estate email marketing, your conversions can also be improved with better approach to customers, good real estate deals and knowledge about the opportunities that the client has to achieve the dream of home ownership.
Finally, important information that helps you close the deal, after your e-mail manages to arouse the interest of the lead.
Cost per lead ratio
You can also (and should) try to identify the cost of each lead earned. Knowing this will give you a better insight into the cost benefits of your campaigns and which method was the most profitable to devote your energies to it.
After all, no broker wants to spend time on a campaign that costs a lot and doesn’t yield at the same rate. To find out, do the following calculation: divide the campaign cost by the number of leads.
ROI – Return on Investment
Monitoring your rate of return on investment is critical to any real estate marketing strategy you use. And with email marketing, the story is no different.
You need to be sure that your property advertising campaigns are having a return compatible with the amount invested. To do this, perform the following calculation: subtract the amount invested from the campaign revenue. Then divide that result by the investment amount and multiply by 100.
Boost your real estate email marketing metrics with automation
The key to improving real estate email marketing metrics lies in delivering the right message to the right target audience. Let’s face it, it’s no use sending out an offer for compact one-bedroom apartments for those with a family with three children. No chance of conversion.
First, therefore, you must segment your contact base to offer the right property to your client. In this sense, the use of a Real Estate CRM is recommended. In it, you concentrate all of your client’s information and even cross-reference the data with the captured properties.
Finally, you can save time using a marketing automation platform. One suggestion is vile Target that triggers your campaigns to targeted contacts. In addition, the tool provides all the real estate email marketing metrics you need to monitor.