5 Metrics Agents Can Use to Measure the Value of a Marketing Campaign

Written by Posted On Tuesday, 17 December 2019 07:35

Real estate agents must measure the performance of their marketing campaigns. Otherwise, they have no way of knowing the value or effectiveness of their marketing efforts.

There are numerous metrics agents can use to measure the success of a real estate marketing campaign. However, not all of them are useful. Agents must be careful to avoid vanity metrics – data points that may look impressive, but do not matter. Instead, agents should focus on actionable metrics that can help them make decisions and inform future strategies. 

Here’s a look at five key metrics agents can use to measure the performance of a real estate marketing campaign.

1. Email click-through-rate

According to a study by the National Association of REALTORS®, 93% of agents prefer to communicate with their clients via email, with 94% of them using email every day. Email marketing is one of the best ways for agents to grow their business, so they must measure their efforts in this area.

While open rates can show the effectiveness of an email's subject line and timing, agents need to dig deeper by focusing on one call-to-action in their email that draws users to their site. The click-through-rate (CTR) of an email shows agents how many people click links in an email compared to how many received the email.

For example, an agent may send an email newsletter inviting subscribers to download a home buyer's checklist. A high CTR for this particular email indicates that the campaign is successful in generating leads who are likely interested in purchasing a new home.

Agents can find CTRs in their email campaign reports. Email CTRs allow agents to see if their campaigns are engaging enough to drive action from their audience.

2. Social shares

Many real estate agents publish articles on their blogs as well as bylines in industry publications. Agents can measure the success and reach of content via social shares.

Social shares show the number of times an agent's audience shares their content on social media platforms. The more an agent's audience shares their content on social media, the more people will likely link to it, which boosts SEO.

Agents can use Buzzsumo to count the social shares of each blog post or article. By directly pasting the URL of the content into the Buzzsumo search bar, agents can view the total shares their content has received to date.

3. Marketing qualified leads generated 

When agents generate new leads, it's crucial to track them back to the marketing efforts that drew them in. It's also vital that agents monitor the actions leads take on their website before converting. 

Agents can track marketing qualified leads (MQLs) from content such as blog posts, bylines, or social media. Before starting a marketing campaign, they should set up Goals in Google Analytics. Neil Patel provides instructions on how to do this. 

Agents can see how many visitors came from an article or blog post and took action, such as filled out a contact form, subscribed to a newsletter, or downloaded a neighborhood guide. The calls-to-action will vary depending on the agent's goal of what they want the visitor to do when they come to their website.

Tracking new leads allows agents to see what works and what doesn't. For instance, if they publish an article in a real estate publication, they can find out whether or not these opportunities result in leads. Agents can make informed decisions about the type of content they publish and where they publish it based on this information.

MQLs are the first stop to creating more sales. Some agents neglect these leads, but, if nurtured correctly, they can produce many new clients. It’s important to have a clear plan on how to convert these prospects into clients. This means creating a sales funnel that addresses the buyer’s pain points at each level. It can be a huge waste of marketing efforts if MQLs are forgotten, so be sure to always follow up with these potentials.

4. Marketing originated customer percentage

One of the best ways for agents to measure the success of their marketing efforts is to calculate their marketing originated customer percentage. This metric shows agents how much new business is a direct result of their marketing campaigns.

To figure out their marketing originated customer percentage, agents should divide the number of customers who started as marketing leads in a given period by the total of new customers in the same period. 

This metric not only shows agents how much their real estate business has grown, but it also tells them how much of the growth is due to marketing.

5. Domain authority

Domain authority is a metric that the SEO consulting and research company Moz created to measure a website's likelihood to rank on search engines. Essentially, it measures the "trust" factor of a website domain.

Agents can measure the success of a marketing campaign by tracking domain authority before and after a real estate marketing campaign to see if specific keywords rank higher due to blog posts or articles. Before starting a marketing campaign, agents can use a tool like Moz to measure the domain authority of relevant keywords found in their content. Once the campaign finishes, they can look for a rise in their search engine rankings.

If an agent's marketing efforts are successful, their domain authority scores should reflect this.

Real metrics help guide real estate marketing campaigns

Without measuring the performance of their marketing campaigns, agents won't have any idea of what works and what doesn't. However, they must remember to avoid useless metrics like website traffic and clicks when measuring success. Relying on actionable metrics such as social shares, leads generated, and email click-through-rates will allow agents to make informed decisions and replicate success in their real estate marketing campaigns.

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Adrian Fisher

Adrian Fisher is the founder of PropertySimple, a social real estate platform. 

https://pro.propertysimple.com

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