When you hear the words “digital marketing”, the first thing that comes to mind is likely the creative side of marketing: developing Facebook ads, writing email copy that converts your prospects into clients and finding new ways to engage your audience in the digital space. But there’s another side of marketing that’s not as well known but just as important: analytics.
Analytics are an absolutely essential element in a successful digital marketing campaign. In order to get the best results, you need to understand where your audience is coming from, the behavior that they’re exhibiting and how they’re reacting to your campaigns. Understanding your analytics is powerful; it gives you the ability to continually optimize your digital marketing strategy to get more optins to your email list, drive more conversions and turn more of those prospects into clients.
Here’s are some analytics that you’re definitely going to want to track in your real estate digital marketing campaigns:
Website Traffic Sources
Knowing where your traffic is coming from is hugely helpful as you’re developing and evolving your digital marketing strategy. Tracking traffic sources is going to give you meaningful insight into what avenues you want to invest more of your resources and which areas of your strategy need improvement.
For example, if you see a 50% traffic spike to your webpage from your social media after you post a real estate market guide on your Facebook page, you know that creating valuable content for your social media is a great avenue to focus on moving forward. Or if you notice that your email marketing isn’t referring any traffic to your site, even after launching a new campaign, you know you need to rethink your email strategy.
The best way to track traffic sources to your website is through Google Analytics.
Email Opens and Click Through Rate
You’re also going to want to have a firm understanding about the performance of your email campaigns, particularly opens and click through rate (CTR).
Opens are exactly what they sound like; they track the number of people on your email list who open any given email. The click through rate is how many of those people actually followed your CTA and clicked on the link within the email.
So, for example, let’s say you sent an email to your list of 1,000 people highlighting a new property that’s going on the market. Within the email, you included a link that drives them to your website and a form to fill out to receive further information about the property and scheduling a viewing. Let’s say 352 people opened your email and 75 clicked the link. Your open rate would be 35.2% and your CTR would be 21.3%.
Understanding your open rate and CTR can help you understand what’s working in your email campaigns, how to best optimize them and how to estimate the success of future campaigns.
Conversion tracking is a must use analytic when you’re running Facebook ads.
Here’s what Facebook has to say about conversion tracking:
“Conversion measurement lets you track actions people take after viewing your Facebook Ads across multiple devices, including mobile phones, tablets and desktop computers.
By creating a Facebook pixel and adding it to the pages of your website where conversions happen, like the checkout page, you’ll see who converts as a result of your Facebook Ads.
The pixel will continue to monitor the actions people take after clicking on your ad. You can see which device they saw the ad on and which device they ultimately converted on.”
Conversion is super helpful because it allows you to calculate your ROI on your ad spend. So, if you’re running ads to get people to sign up for your next open house, you can see how many of your registrants came from Facebook and then divide that by your total ad cost, giving you the cost per acquisition (CPA) and allowing you to determine whether or not Facebook ads are a worthwhile investment for that particular initiative.
Be sure to check out Facebook’s tutorial on how to set up conversion tracking for more details on how to implement this awesome analytic in your next campaign.
.While the creative side of digital marketing is arguably more fun, really digging into the analytics is what’s going to bring real value to your marketing campaigns.
At Rogue Print and Mail, we understand the real estate industry. Our proven track record of delivering the highest quality print services to real estate professionals speaks for itself. With fast turnaround times, real-estate specific templates and designs and an in-house team to guide you in all of your branding, design and printing needs, Rogue Print and Mail is the preferred design and print partner for real estate professionals across Australia.
I sincerely hope that you found this information valuable. For advice on effective branding, design and cross media marketing, please don’t hesitate to call me on 1300 65 85 00 or email me at firstname.lastname@example.org to arrange an obligation free 10 minute discussion with a member of our expert team.