As I managed a couple of US based realtor’s Google AdWords campaign and I am the digital marketing manager of the market leader real estate listing site in Hungary I collected a lot of experience in develop successful digital marketing strategies in the real estate industry. Occasionally I check real estate market segment to see what real estate agents are doing at the online marketing field and I realize many mistakes where they are wasting their money. I guess in many cases they have no idea about this fact that they are doing wrong their digital marketing management. Obviously real estate agents need to be professional at their industry, so that is not expected to be professional at digital marketing field.
This is the reason why I am going write these blog post series to help realtors to manage their digital marketing activities as efficient as possible and get real advices from an expert who has deep experience in performance marketing campaign management at real estate industry.
Digital marketing, performance marketing, Google AdWords, Facebook
Let me make all the phrases clear and understand relationship between them. Let’s start on the highest level with digital marketing.
Generally we could say that if you are advertising online, you are running digital marketing campaigns. Within digital marketing there is performance marketing. Performance marketing is a marketing trend where we would like to get the real results of our spending. Let me give you a really simple example.
Reach or leads?
Let’s say in one case you spent $1,000 budget on Facebook and as a result you have reached 5,000 people. In the other case you spent $1,000 budget on Facebook too and as a result you have generated 5 leads. Both cases we used $1,000, but what were the measureable outputs? Reach 5,000 people or generate 5 leads. Which is closer to your business goal, reach 5,000 people (probably they are not really interested to buy or sell a real estate) or generate 5 leads? I guess you would be more satisfied if you generate real results by your budget than possible results.
If we are running performance marketing campaigns on real estate industry field we focus on only how much did we spend and how many conversions/leads did we generate.
Within the performance marketing we have ad platforms like Google AdWords and Facebook where we can setup and manage performance marketing campaigns.
Performance matters, so we need to understand how an ad platform or a specific campaign within an ad platform performs. Google Analytics will help you to evaluate your digital marketing performance. It’s a free digital analytics platform with great standard reports, so you don’t need to configure too much to see the right data.
The goal of real estate performance marketing
So what is the goal of performance marketing activities in the real estate industry? If we have a given budget generate as many leads as possible or if we have fixed amount of leads spend as low as possible.
How could we reach our goals briefly? Monitor and analyze our campaigns spending and the number of leads. Optimize them to decrease cost per leads.
How could we reach our goals in details? These blog post series will show great techniques what you could use for yourself.
I hope that you are interested in about this topic. Since I would like to write about practical solutions, feel free to comment on this post or send me an email on the contact form.