• Sign In
  • Create an Account

Dizzy

  • Search
    • Brokers
    • Haves
    • Wants
    • Transactions
    • Marketplace Advertisers
    • Directory
  • Blog
    • tBL Blog
    • How To Blog With Us
    • Blog Contributors
  • Marketplace
  • Advertise
    • Advertise on tBL
    • Marketplace Program
    • Placement Opportunities
  • FAQ
    • tBL FAQs
    • Why theBrokerList?
    • In the News
    • BULK SUBMISSION
    • Buildout Syndication
    • Site Updates
    • Contact Us
    • Feedback

4 Metrics Every Real Estate Marketer Should Be Obsessed With

This post originally appeared on Marketplace Partner, VTS Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.

//?#
Share
Tweet
Share
Pin
0 Shares

iphone-410311_1280-710x473

 

The old maxim, “If you can’t measure it, you can’t manage it” holds especially true for real estate marketing. Tracking the success of your digital marketing efforts today can be overwhelming. As new channels and platforms constantly emerge, new metrics also need to be defined.

But what metrics really matter? Counting “shares” and “likes” are good ego boosters, but are not very significant indicators of your global marketing efforts and overall business success.

If nothing else, here are the 4 most important CRE marketing metrics that you need track today:

1. Visits

In simple terms, how many people have visited your website? This is a top-of-the-funnel metric that is a leading indicator for your marketing success. The math is simple:

More visits = More potential leads = More potential sales

Besides the total number of visits to your website properties, it’s important to break this down every month and track performance by traffic source (direct traffic, Google, social media, referral, newsletters, etc.). What traffic sources are working well? Where could you improve?

Also, look at trends (month-over-month and year-over-year) to gain an understanding of channel performance to make better decisions for future marketing efforts.

2. Leads

The effectiveness of your real estate marketing effort boils down lead generation. Leads are the lifeblood of both sales and marketing.

A lead (or prospect) can come in many shapes and forms and it’s a good idea to distinguish the different types of leads that you acquire from digital marketing activities. Lead types could include:

  • Users who downloaded a study or whitepaper
  • Users who registered for a webinar
  • Users who requested information on a property
  • Users who filled out a general contact form
  • Users who signed up for your newsletter

It’s important to track these leads and separate them accordingly based on the action performed. Why? Because the purchase intent of someone that requires information on a specific property is much different than someone that signs up for a newsletter.

Similar to visits, it’s crucial to look at channel performance of your leads and know exactly what traffic sources are driving your lead generation.

If you can’t answer how many sales-ready leads were generated from referral traffic last month, than you have some homework to do.

3. Lead Conversion Rate

Once you start tracking visits and leads, you can then start tracking conversion rates. Knowing the absolute numbers of visits and leads is good, but understanding the relative impact (conversion rate) is crucial. Lead conversion rate is simply:

Leads / Visits = Lead conversion rate

Tracking your conversion rate is a very revealing indicator regarding the quality of your marketing efforts. It lets you very clearly understand how efficient your marketing activities are in converting a website visitor into a lead.

Moreover, breaking down conversion rates by channel gives you key information about what traffic sources you should think about scaling up and where you need to improve.

Make sure to look at trend data and keep track of conversion rates over a period of time and compare YOY to normalize for seasonality issues. In an ideal world, your objective should be to steadily increase your conversion rates as your marketing improves over time.

4. Cost per lead

Marketing costs money and, although, it’s important to track overall costs, you should consider putting this cost structure into a framework.

Cost Per Lead (CPL) gives your marketing activity a quantitative structure and context to better understand the efficiency of your marketing spend.

It lets you answer the following question: if I spend X on marketing, how many leads can I generate?

Just like all the other metrics described above, it’s important to keep track of your CPL on a monthly basis by channel and look at trend data (MOM and YOY) to keep your marketing spend in check.

Ongoing tracking

For any commercial real estate marketing effort, it’s important to measure your success, track the right metrics, and create a report on a monthly basis.

The four metrics above provide you a global view of the overall health of your marketing efforts and impact on business. To get started you simply need Google Analytics (or any other analytics platform) and make sure you setup your lead tracking correctly.

New Call-to-action

Aug 27, 2016VTS
3 years ago Best Practices, Marketplace PartnersCRE Technology tools284
VTS

VTS is the leasing and asset management platform for commercial real estate, enabling the world’s top landlords and brokers to increase revenue, improve productivity and reduce risk across their portfolios. In November 2016, VTS and Hightower merged, bringing owners, investors and brokers from around the globe together on one platform. With over 5 billion square feet under management, VTS is the driving force behind the industry’s shift toward real-time data. For more information, visit VTS.com.

What is Your Personal Brand?Leadership of RealNex and AREAA Combine to Honor Veterans
  You Might Also Like  
 
4 Ways to Use Instagram for Your CRE Leasing Business
 
Q1 Office Activity Foreshadows Rest Of 2016
 
New Apto National Broker Buzz Poll reveals: What commercial real estate brokers really think about WeWork, coworking trend

You must be logged in to post a comment. - Log in

 Advertisers 
 Categories 
  • Best Practices (1,011)
  • Brokerage Life & Leadership (228)
  • Business Trends (211)
  • Commercial Real Estate Is (6)
  • CRE Market Reports (227)
  • CRE Marketing (60)
  • CRE Promotions/Job Changes (16)
  • DNA of #CRE (4)
  • Done Deals (240)
  • Events & Conferences (86)
  • How To Use theBrokerList (91)
  • Marketplace Partners (1,911)
  • Member Blogs (14)
  • Press Releases (169)
  • Shout-Out (1)
  • Sponsored Blog Posts (3)
  • theBrokerList Podcast (1)
  • Top 10+ CRE Blogs (6)
  • Uncategorized (123)
 Company 


Contact Us
Technology Partner Program
Terms of Service
Privacy Policy

Copyright 2019 - theBrokerlist
 Connect 
Become a Member
Subscribe to theBrokerlist Daily
Subscribe to Property Announcements
Submit a Property Have
Submit a Property Want
Submit a Property Transaction
Submit a Blog Post or Feed
 Advertise 
Advertise with theBrokerList
Join the Marketplace
Custom Media Opportunities
Property Promotion Advertising [coming soon]

Heap | Mobile and Web Analytics
2019 © theBrokerList Blog