Data-Driven Marketing: 5 Stats Real Estate Agents Should Watch

For real estate agents, growing your business and its success is fueled by getting in touch with new prospective clients. To accomplish this, you need to build a real estate brand that distinguishes your business, and highlight your real estate offerings, like your specialties, clients and markets served, and areas of focus. You also need to reach new audiences by growing brand awareness, visibility, and generating leads

How do you make all this happen successfully and make it scalable over time? With marketing. By leveraging marketing, you can grow awareness and visibility of your brand, establish trust, and reach a wide variety of audiences you may not have been able to access previously. In turn, you can position yourself as a trusted real estate expert and grow your clientele. For any business, marketing is a must. But you can’t just throw everything at the wall and hope something sticks.

The Importance of Data-Driven Marketing for Real Estate Agents

It’s tough to reach your intended level of success without a clear path to get there, which is where goals come in. Your goals serve as touchstones along the path to success, providing you with opportunities to measure your progress to ensure you’re on track — or course-correct. Your marketing strategy is shaped by your marketing goals, and to ensure you’re progressing to those goals effectively, you need to watch your marketing data.

Making marketing decisions informed by data will shape your ongoing strategies, help you optimize your efforts, and identify precisely where you need to improve or increase your efforts.

5 Data-Rich Marketing Stats Real Estate Agents Should Watch

Marketing data serves as the compass on your path to success, but what metrics do you need to keep an eye on for maximum efficiency? Here are 5 data-rich marketing stats you need to watch as a real estate agent.

#1. Your Return on Investment, or ROI

You’ve heard of your ROI, and in the marketing world, it’s one of the most critical investments to track. Marketing efforts and campaigns cost money to get up and running, so monitoring the revenue you’re generating directly from these campaigns will help you understand which marketing channels and strategies are delivering the best results. In turn, you can allocate your budget more effectively.

To calculate your ROI,  compare the cost of your campaigns to the revenue generated from leads and resulting sales.

#2. Your Lead Generation Volume

Marketing is important for building brand awareness, but the ultimate goal for you as a real estate agent is to leverage marketing as a lead generation tool. To maximize your campaigns and ensure they’re delivering towards this goal, watch your lead generation volume. Your lead generation volume is the number of leads you’re getting as a result of your campaigns.

To measure this data, review your campaigns and the number of leads each one is generating. This will give you a clear picture of where you can put more marketing budget for well-performing campaigns, and what campaigns you can turn off to reallocate your marketing dollars.

#3. Your Lead Conversion Rate

Once you get your lead gen volume clear, you need to track your lead conversion rate. Your lead conversion rate is the number of leads that turn into a successful sale. Not every lead you generate will close right away, and some may never close at all. Keep an eye on this rate to make sure the leads you’re generating are quality and relevant. The higher this rate, the more confident you can be that you've selected impactful marketing channels to reach the right audience.

#4. Your Email Open Rate

Email continues to prove its value as a communication tool in the real estate industry. NAR’s 2023 Profile of Home Buyers and Sellers found nearly half of all buyers valued their agent sending them emails about specific needs, as well as market reports on recent listings and sales. Email is also a powerful marketing tool: across a variety of industries, an average of 21.5% of users open emails.

This means for every 100 marketing emails you send, you can expect about 21 people to open it. Use this benchmark to make sure your emails are hitting the mark and getting people interested. Use powerful, clear, and exciting subject lines to encourage opens. To calculate your email open rate, divide the number of people you sent a marketing email to by the number of recipients who opened it. Always aim for the 21% or higher open rate. 

#5. Your Social Media Engagement Rates

Another data point to watch? Your engagement rates on your social media profiles and posts. This includes things like the number of likes, shares, and comments on your posts, as well as your follower growth. The more people find and engage with your profile and content, the more likely social media algorithms are to share your posts with similar audiences. Make sure these numbers hold steady or increase consistently.

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