How’s your email marketing going these days? Believe it or not, but email marketing is really important in the modern, online world. As an estate agent, you should be able to use email metrics in order to understand how effective your email marketing tactics are.
In a traditional sense, evaluating email effectivity was a marketer’s job. Real estate agents provide content and then forget about the email being sent at the end. But this is all about to change.
Understanding how you communicate with your contacts and audience is key to developing longer lasting and stronger relationships, as well as developing a more impactful strategy.
Here are 5 email metrics that you need to get your head around in order to fully make use of your email marketing strategy.
1) Open Rates
Opening rates depict how many of your emails are opened, compared to the number that you send out. In real estate, the average percentage of opened emails is 13-15%. This could be due to impersonal, generalised content sent out in a lazy manner. This comes across to consumers, who just simply delete the email without opening.
You can double that figure with personalised customer journeys, and interesting content that captures the attention of your audience. If you send emails on an agent’s behalf, you can even increase opening rates by over 100%.
2) Click-Through Rate
Having a click-through rate measures the percentage of people who have clicked links in your email, as opposed to those who just open it.
This is a revealing statistic that many marketers use – especially in relation to real estate. Agents love it because it unveils how many people have been directed to your website. This can be equivalent to the number of people who have viewed property stock. This may increase enquiry on your listings and potentially lead to sales of homes.
3) Conversion Rates
Conversion rates are when a person complete a form from within an email that asks them to do so. This is the most common call to action in the real estate industry – sometimes known as an appraisal request.
This is a great way to measure your objectives and results against one another. There are however, a number of poor indicators that you’re not measuring the right factors.
4) Number Of Emails Sent
Emails are being sent to everyone in your database. This will lead to a massive number in your sentbox, but gives no indication of engagement with said emails. Make sure that you do not use this figure as your benchmark.
5) Unsubscribe Rate
People unsubscribe from email lists for a number of reasons. A whole multitude in fact. Most of these reasons don’t have anything to do with the content of your emails, so don’t take it to heart too much.
The bottom line here is that there’s no point in spending time, money and manpower on something that you can’t measure. Make sure that you routinely check up on campaign reports, and make sure that your email marketing strategy is helping you meet your goals.