Measuring consumer engagement can be tricky. How can you effectively gauge the level of interest of a lead? What metrics should you use to see how likely a person will be to become a client or convert to a sale?
Onboard has information on every property in the country and their surrounding areas. Our clients use that information to engage their customers and create more sales opportunities. Because of the role we play in consumer engagement, measuring our clients’ success in this area and helping them improve those metrics is extremely important to us.
Through the combination of our existing data, the acquisition of AddressReport, and the simplification of content integration with Accelerate we can now provide a more complete consumer engagement system. We now see how data-driven engagement is working for clients and what they find important. If you’re in real estate and thinking of incorporating this type of content to engage prospects, these metrics might be a good place to start.
Time on Site
How long someone spends on your site is extremely important. One metric that really effects that is how long a visitor spends on a given page, like your Listings Page. The best way to increase time on site is to have more content on each page that visitors can spend time with. According to The Daily, sites like Zillow and Realtor.com understand this. They have a lot of content on their sites and visitors spend an average of 1:27 per page on Zillow – that’s almost double the industry average.
Local and area content from Onboard achieves the same effect. When we look at our clients that use a plug-and-play solution we can measure the average time per page historically and at any moment. The more time people spend on your site, the more engaged they are and typically this is because they are getting content of value. These visitors are more likely, then, to convert to a lead. But they are also more likely to return because a significant majority of consumers are actually in their “research” phase.
If you are doing outbound email marketing, an easy metric to study is open rates. This is the percentage of recipients who actively open your email. This shows a certain level of interest in the content you’re sending and conveys ahigher level of engagement. Open rates in real estate average 18.48% according to Chris Smith from Inman News. One easy way to increase those percentages is to deliver personalized content to each consumer.
AddressReport is a content marketing system that does just that. We have several clients utilizing this system today including Redefy and Home Actions. When we look at the first 90 days of their implementation, we see average open rates at 59%. As we saw in our recent white paper on Data-Driven Marketing in Real Estate, using data to connect to consumers is a great way to increase engagement rates. You can also see that it can lead to more than triple the brand impressions with that consumer. And being top-of-mind is a major part of the battle to winning over a consumer’s business.
Click Through Rates
When consumers take an action on a piece of content you’ve developed, it’s a good sign they are engaged. Click through rates can happen on your Facebook posts, Google Ad Words, and outbound emails.
Ultimately, the action you want them to take it to pick up the phone a call an agent, but all these little indicators – like the time they spend on your site and the effort they take to open or click through on something you’ve put out there – are great indicators that they are engaged and more likely to become a client. If you’re interested in finding out more about measuring consumer engagement and data-driven marketing, fill out the form below.