Let’s face it. Marketing real estate projects can be tricky and often marketing efforts don’t help you achieve your ultimate goal: To sell your properties quickly for the right price. We often see our clients create innovative, attention grabbing, not to mention expensive marketing campaigns for their upcoming projects but forget about one key element, how to measure the success of their marketing campaigns on an ongoing basis.
Nowadays we know that traffic to your website is an essential component for lead generation, lead nurturing, and eventual lead to sale conversion. Simply put, 95% of homebuyers turn to online sources when searching for a property. But how can you learn about the traffic coming to your site and gain insight into the users behaviour? Enter, Google Analytics. Very quickly, Google Analytics is a free tool offered by Google to help users analyze their website traffic through data, graphs and measurement tools. Essentially, if used properly, the data it provides can be crucial in making you a lean, mean, property-selling machine.
However, as one might expect from Google, Google Analytics is a robust platform, providing us with a plethora of information to choose from which can be overwhelming. Understanding strategic marketing for real estate projects, we have provided The Blueprint to help you get strated.
In this post, we will outline The 5 Most Effective Reporting Tools Google Analytics Offers for Real Estate Projects in order to help you promote your upcoming projects and listings with success.
1) Traffic Sources: First and foremost this data point tells you exactly how many people have visited your site and where the traffic came from.
There are four main fields:
Search Traffic – Found your website using a search engine (ie. Google).
Referral Traffic – Clicked on a link from another website that linked back to you. (ie. local property management portal, social media).
Direct Traffic – Typed your URL in the browser (ie. from print material campaigns).
Campaigns – Visits that are tracked through pre-defined campaigns. (ie. direct mailing campaigns entered directly into Google+, Google Ad-Words).
2) Organic Search Traffic Source: This report tracks what keywords people are searching to connect with your project’s website. For instance, you should ask yourself, “what percentage of my search traffic is from non-branded keywords?” Of course visitors are going to find your website if they search your project’s name, but what if they search other terms related to your property? Specifically, you want people to find your website with terms they associate with real estate in the particular geographic area of your project. For example, if you own “Development Skyscraper Company” in Toronto, keywords that you might target are “GTA luxury condominiums”.
3) Social Media : Right now Social Media is everywhere and it’s here to stay. Being able to view your social media data holistically and understand how the social behaviour is affecting your brand is often over looked. As a company, it is important to learn the level of interest it is generating and ensure it is being viewed by a wide audience. You may be surprised by the results but remember that social media isn’t only about your goals of prospecting and generating new leads, it has many other benefits including building genuine relationships with all stakeholders and communicating how great your company is with the world for free.
Blueprint Advanced Tip: Google Analytics shows you how visitors are using the custom links in your social media to link with your company’s website. You can analyze this information to better understand where your referral traffic is coming from and then adjust your social media strategy accordingly.
4) Location Report: This report helps you learn what locations your clients are viewing your site from. It is ideal for regional and international real estate marketing campaigns since you can see which neighbouring cities are most interested in your properties and focus your efforts accordingly.
Blueprint Advanced Tip: Data at the country level is accurate worldwide and great for gauging foreign buyer interest. You can also drill down to both a province/state level and city level.
5) Bounce Rate vs. Exit Rate and Average Visit Duration: Bounce Rate measures the percentage of visitors who landed on a single webpage and then left without visiting any other pages. This means for a visitor to be measured in the Bounce Rate metric they must look at only one page on your site and leave immediately, demonstrating their lack of interest. Exit rate on the other hand, shows visitors who came to your site and visited multiple pages, showing increased interest. You can also view which pages visitors view for the longest periods of time and exactly how long they visited them for. This will help you see which pages are popular and adjust your marketing campaign accordingly.
Blueprint Advanced Tip: Bounce rate and exit rate are metrics that tell us a lot about the performance of specific pages because they let us know which pages are attracting attention and which are not. However, it’s important to interpret these metrics based on where the visitors came from, maybe they aren’t interested in a new home and found your link in the online news.
Remember, when you’re just starting out it is important to limit yourself to metrics you will use in order to make educated decisions on future marketing spend and possible strategic changes. Google Analytics indicates where you are achieving success and we all know that building on a success makes any marketing campaign easier.
Before starting, make sure you understand your project’s goals and objectives. Having a clear understanding of what your website is trying to achieve will help you define your success and improve your results.