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Measuring Content Marketing Success? Check Out Our Top 3 Posts for Analytics and ROI

Measuring Content Marketing Success? Check Out Our Top 3 Posts for Analytics and ROI

Measuring content marketing success for real estate can seem like a daunting task. Our top 3 blog posts on analytics and ROI will keep you on track.  

We talk a lot here at Fronetics Real Estate about the importance of a data-driven approach when it comes to measuring content marketing success for real estate. Without a documented strategy, your efforts are likely to be scattershot and aimless. To grow your business strategically, you need to track your efforts, analyze successes and failures, and determine ROI.  

This year, we’ve focused on analytics and ROI several times on our blog. Measuring content marketing success can often seem daunting, so we’ve aimed to share some tools that work for us. We’ve discussed why it’s important to benchmark your content marketing efforts against competitive properties, published a guide for real estate marketers to measure that ever-elusive brand awareness, and offered up a monthly marketing reporting template to help you track the right metrics. 

Here are our top three most read analytics and ROI posts for 2018. 

1. What Metrics Should You Track in Real Estate Marketing? (It’s key to measuring content marketing success) 

Traditional real estate marketing involved a lot of “post and pray.” That is, marketers would place ads in local publications, on billboards, and with other traditional media outlets and hope that buyers and tenants would read them and take interest. 

Our monthly marketing reporting template for real estate will help you measure success, drive strategy, and demonstrate ROI. Read more. 

2. Why You Should Benchmark Real Estate Marketing Against Competitive Properties 

When people are searching the internet for apartments or condos, what are they seeing? Part of an effective, data-driven marketing strategy is regularly taking the time to benchmark real estate marketing against competitive properties. 

We all know that competition drives results. Take Elaine Thompson and Michael Phelps. In August 2016, Thompson claimed the title of the world’s fastest woman, and Michael Phelps became the most decorated Olympian of all time.  They achieved these incredible feats by continuously pushing themselves to do better — and they weren’t just tracking and measuring their personal performance.  Read more. 

3. How to Measure Brand Awareness: A Guide for Real Estate Marketers 

When it comes to selling property — particularly luxury properties — growing brand awareness is an important goal. Prospective buyers need to know that your property exists and that it can provide the kind of lifestyle that they’re looking for. 

Measuring how well you’re doing at getting the word out about your brand and property/properties is critical to optimizing your marketing strategy. But measuring brand awareness can be tricky. Read more. 

A final word

Thank you for making us your go-to source for real estate content marketing insights. Please join us in 2019 to learn the latest on measuring content marketing success and everything else you need to grow your real estate business.

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What Metrics Should You Track in Real Estate Marketing?

What Metrics Should You Track in Real Estate Marketing?

Our monthly marketing reporting template for real estate will help you measure success, drive strategy, and demonstrate ROI.

Traditional real estate marketing involved a lot of “post and pray.” That is, marketers would place ads in local publications, on billboards, and with other traditional media outlets and hope that buyers and tenants would read them and take interest.

With digital marketing, we can do so much more. Real estate marketers can measure the success of their efforts — if they’re tracking the right numbers.

Measuring success

To effectively sell or lease property, you need to take a comprehensive, data-driven approach to marketing. Metrics enable you to measure success, drive strategy, and demonstrate the ROI of your marketing efforts.

You need to know that what you’re doing is working (or not) so that you can adjust your marketing strategy as necessary. And you need a visual, executive-friendly way to show your bosses or investors that the marketing dollars you’re spending are paying off. We’ve got you covered.

Monthly marketing reporting template

We’ve created a monthly marketing reporting template just for real estate businesses. This template tracks your marketing metrics and generates graphs you can use in reporting and presentations.

Metrics captured in the template include:

  • Total website visits
  • Website visits by source
  • Leads
  • Leads by source
  • Investors
  • Investors by source
  • Visit-to-lead conversion rate
  • Lead-to-investor conversion rate
  • Ranking
  • Competitive analysis

The template (an Excel document) will save you time figuring out which metrics to track… not to mention, how to present them to your boss/investors. It’s very easy to use, but feel free to reach out to us if you have any questions or need us to walk you through it. We’re here to help.

Start tracking the right metrics in real estate marketing and improve your marketing efforts by downloading our Monthly Marketing Reporting Template below.

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Monthly Marketing Reporting Template

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Measure Social Media Success in Terms of Potential, not Dollar Amount

Measure Social Media Success in Terms of Potential, not Dollar Amount

Social media gives you access to aspirational buyers and their networks, a benefit that can’t be quantified in dollars. It’s time to redefine social media success. 

One of the trickiest things about implementing a social media strategy is that social media success can be difficult to measure. While most real estate professionals acknowledge that a social media marketing presence is important, it’s hard to make a case for resources when you can’t precisely quantify the value in terms of dollar amount. 

Of course, you shouldn’t stop recognizing the importance of social media as part of a robust marketing strategy. You need to start thinking about value in terms of potential, rather than an immediate sale or rental. 

Social media success in real estate will seem more attainable if you: 

  • Shift the focus from short-term sale to the long-term value of social media. 
  • Trust your efforts will pay off, even if not immediately. 
  • Find new ways to measure results over time.  

Social media success comes from access to a new audience 

Social media allows real estate professionals to discover and engage with a new segment of the market: aspirational buyers and renters. Suddenly, you are faced with an exciting prospect: access to a population that businesses in the past could not reach. Now that we can find out who they are, their long-term value cannot be overstated: 

  • They are your potential buyers. 
  • They can build brand loyalty for your business. 
  • They can engage with your properties.  

According to a recent study published in MIT Sloan Management Review, aspirational buyers are likely to follow multiple brands on social media sites. Over half follow at least one brand that they haven’t made a purchase from. But, “our data suggests that they do plan to purchase in the future,” say the study’s authors. “Today’s followers are very likely to be tomorrow’s customers.”  

It’s easy to see the implications for real estate marketing, as you can target your messaging for individuals who may not yet be ready to sign a contract, but who are following your properties with interest. 

The social network = social media success 

There’s another factor to consider regarding the value of social media marketing. At its core, these are networking platforms. That means you not only have access to a new audience base, but to their connections as well.  

Your followers’ engagement on social media can expand the reach of your brand and properties, as they engage with their own networks. Putting a dollar value on such social reach is fairly meaningless — but it has the potential to add to your bottom line both now and in the future. For social media success, reach is an important part of the equation. 

What’s more, a recent McKinsey study attributes word of mouth to be the primary influence for up to 50% of all purchase decisions. The study authors go on to say, “Followers who are not yet purchasers can share their experience with the brand, and deepen their commitment to the brand, even prior to that first purchase.” 

It’s time we start thinking about social media success in this new way: in terms of potential and expanding value, rather than just immediate dollar amounts. 

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The Metrics You Should Be Measuring in Real Estate Marketing (Hint: Not Vanity Metrics)

The Metrics You Should Be Measuring in Real Estate Marketing (Hint: Not Vanity Metrics)

Don’t waste your time reporting on vanity metrics, which won’t tell you whether you’ve achieved your ROI.

We all want to see the fruits of our labors. Whether renting a new property or launching a social media campaign, we look for instantaneous numbers that will affirm we made the right choices. But here’s the problem: not all metrics are created equal.

So-called vanity metrics are measurements that have no bearing on your bottom line but can give you an inflated sense of success. Generally, they are easy to calculate but are influenced by too many factors — and are too vulnerable to random external events — to be reliable.

Website visits and number of subscribers are two classic examples. A spike in homepage hits may be the result of your marketing efforts, or it may be because of ghost spam. (Or both.) Regardless, more visits do not necessarily correlate to increased revenue — just more visits. In the same vein, having 100,000 email subscribers means nothing if only 1% are opening them. You actually could be losing money in terms of resources allocated if the emails aren’t helping drive sales.

Investment vs. vanity metrics

That’s why it’s crucial to focus on return on investment instead of vanity metrics. You could waste hours reviewing a hundred different analytics that tell you nothing about how revenue was affected by a particular effort. Or, worse, you could use vanity metrics to justify decisions that don’t achieve their ROI.

As a simplified example: say you spend $1,000 on a display ad for a new apartment complex targeting established professionals on a local news website, and your analytics report that 100 people clicked through. This sounds like success! But don’t celebrate just yet. When you dig past the vanity metric, you find an extremely high bounce rate. That means most of those click-throughs left your site immediately, neither engaging with your property nor moving any closer to becoming a tenant. In fact, you find that only one click-through converts. Was it worth paying $1,000 for this one potential tenant? Probably not.

But say you ran another $1,000 display ad, one that targets a younger audience than you think your property fits. Only 20 visitors clicked through, which sounds less successful than the other ad. But when you follow those 20 click-throughs, you find that 5 ended up renting units, meaning the ad pays for itself many times over. You’ve also learned that perhaps a younger audience is more suited than you thought to your property. The ROI proves that the vanity metric was quite misleading in this case.

Metrics that help you make decisions

Lean-startup pioneer Eric Reis, who coined the term vanity metrics, said, “The only metrics that entrepreneurs should invest energy in collecting are those that help them make decisions.” In other words, measure the things that will tell you if an effort was profitable so you know where to put your time and money.

While vanity metrics tell you nothing about your bottom line, ROI can help you determine whether it was worth spending your resources in a particular way. This is extremely useful on platforms like blogs and social media, where things are constantly changing. Using ROI as a litmus test, you can keep experimenting and making sure you’re using these tools effectively. Tracking a vanity metric like number of followers, which is likely to build over time regardless, gives you no indication of which experiments were successful and which weren’t.

Your resources are limited, so it’s crucial to evaluate your efforts with meaningful numbers that illustrate their effect on your bottom line. Calculating ROI might take some time — both in the few extra minutes to do the math and the amount of time that needs to pass before all the data is available — but that number will be infinitely more valuable to you than any vanity metric on your Google Analytics report.

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How to Measure Social Media ROI with Google Analytics for Real Estate

How to Measure Social Media ROI with Google Analytics for Real Estate

Measuring social media ROI can be a daunting task, but Google Analytics can help. Gauge the effectiveness of your social media strategy using these four data points in Google Analytics. 

Many real estate businesses struggle with measuring social media ROI. Even for seasoned content marketers, the collection of data is one of the most daunting tasks. But it’s important to get it right, for several reasons:  

To understand how your strategy is working. 

  • To determine where changes need to be made. 
  • To allocate appropriate resources.  

Don’t waste time trying to track down information on your various social accounts to measure social media ROI when you can find the most pertinent information with a single tool. The best part is: You’re probably already using it. (And it’s free!)  

You need data to measure social media ROI 

Google Analytics is an incredible tool for businesses large and small looking to gain insight into the who, when, and where of their web traffic. And while it may seem intimidating to the novice, it’s very easy to use once you know where to find what you’re looking for.  

Here’s how to start gauging the effectiveness of your social media strategy — and measure social media ROI for real estate. 

Step 1: Look at where your traffic is coming from. 

How much of your traffic is coming from social media? Google Analytics will provide an overview of the overall traffic sources that deliver visitors to your website, including traffic from social media. This high-level view of your traffic includes: 

  •  Search (people clicking through from Google or Bing) 
  • Social (Twitter, Facebook, etc.) 
  • Direct (people typing your site in their browser or bookmarks) 
  • Referral (people clicking links from other sites to get to you) 
  • Email 
  • Paid search 
  • Other 

To access this report in Google Analytics, go to Acquisition > All Traffic > Channels. 

Go a step further and review the volume of traffic that comes from specific social media networks, by clicking on Acquisition > Social > Network Referrals. 

It’s important to have a diverse mix of traffic sources, which should be reflected in the traffic sources report. If a large portion of your traffic comes exclusively from one source, especially if that source is not social media, it is time to reconsider your social media strategy. Similarly, if one network is driving most of your traffic, you should examine when and what you are posting in the non-performing channels. 

Step 2: Determine revenue derived from posts. 

Make sure to include links back to your site when you post on social mediaso thatGoogle Analytics can track and analyze them. You’ll want to add a UTM code (aka UTM parameter), which is text added to the end of a URL (after the “?”) to identify the success of a campaign. As an example, the UTM code is in boldface below: 

https://www.fronetics.com/microsoft-linkedin-product-synergies-floor-b2b-marketers/?utm_content=36244275&utm_medium=social&utm_source=facebook 

You can set unique UTMs for all of your social media, per channel, or even per update. By analyzing your different UTM parameters, you can determine which URLs are most effective in driving users to your content. 

Set UTM parameters through Google’s URL Builder.Once your parameters are set, you can go to Acquisition > Campaigns > All Campaigns to see the revenue from any individual UTM tag, like a post or tweet. 

Step 3: Look at how your content is being digested. 

Analytics allows you to see how long a visitor stayed on your site, (use the Duration goal to find out). Examine how content and properties resonate with the social media audience by using Set up the Pages/Screens per Session goal or learn how many times visitors from social media play website video with Create an Event goal for specific tracking. 

Step 4: What is social media bringing you in conversions? 

Google Analytics has conversion funnel reports that show how much social media is contributing to conversions. To set up conversion funnels in Google Analytics: 

Use the Goals section and connect any type of conversion event. 

  • Access your funnel report through Conversions > Multi-Channel Funnels > Top Conversion Paths. 

These four insights from Google Analytics can help you determine how effective your social media strategy is in terms of traffic, direct revenue, visitor behavior, and conversions. Use this information to continually measure social media ROI and refine your strategy to get the most out of your social media presence for your brand and properties. 

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