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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)
- 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 media so that Google 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:
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.
Related posts:
- What Metrics Should You Track in Real Estate Marketing?
- Measure Social Media Success in Terms of Potential, not Dollar Amount
- The Metrics You Should Be Measuring in Real Estate Marketing (Hint: Not Vanity Metrics)
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Using Online Virtual Tours to Sell and Lease Property
These 4 tips will help you create virtual tours that drive prospective buyers and tenants to buy or lease your properties.
As a real estate marketer, one of the most powerful tools at your disposal is the imagination of your potential buyers and renters. You’re most likely to sell them on your property when they can envision themselves in the space.
Today, nearly all prospective buyers and tenants research properties online before visiting them in person. This is great if you have a strong digital presence. It’s unfortunate for the many properties that are underrepresented by dated websites and listings. And, for those with adequate web presences — even if your content is decent, prospects may be crossing your property off their list if they can’t imagine themselves in your space.
Enter the virtual tour.
A virtual tour gives potential buyers and renters the chance to fully immerse and imagine themselves in your property. Virtual tours help prospects fall in love with places before they’ve even visited. They are becoming almost as important as any showing or open house in today’s market.
As more and more real estate marketers hop on the virtual tour bandwagon, it’s important to keep pace, and make sure your offerings are hitting the right marks. The National Association of Realtors published a list of ways to dress up your virtual tours. We’re summarizing the key takeaways below.
4 tips for creating property-moving virtual tours
1. Create an interactive floor plan.
Vendors like TourVista, Flyinside.com, VHT, MapsAlive, and floorplansonline allow you to create interactive floor plans, so your buyers and renters can get a sense of how the space is laid out. You can display an illustrated map, allowing users to click on areas of the floor plan to see an image or, better yet, a video clip from that perspective.
2. Guide them to the improvements.
Rather than relying on your buyers to imagine how new carpets or cabinets would look, show them. Tools like Obeo’s StyleDesigner allow you to virtually decorate your space, send the images to prospects, or allow them to do the decorating themselves.
3. Use plenty of high-quality images.
The more photos you include, the more effective your virtual tour will be. Using high-definition photos allows your clients to experience your property even more realistically. This goes for photos within the property and photos of the neighborhood, views, and surrounding city or town.
4. Use 3-D.
Microsoft rolled out its Photosynth stitching technology several years ago, taking two dimensional images and re-rendering them in a navigable 3-D image. You can create these renderings with pictures from any digital camera or mobile device and free software from Microsoft. Your buyers and renters can navigate through the property from the comfort of their living room sofas.
Related posts:
- Social Media Trends for 2018 Real Estate Marketers Need to Know
- Social Media Can Be a Strategic Weapon in Real Estate Marketing
- 4 Steps to Building a Successful DIY Content Marketing Strategy for Real Estate
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Survey: Social Media Use in Luxury Real Estate
We want to hear from you!
Take our luxury real estate marketing survey.
Luxury real estate doesn’t exactly sell itself — if you’re a real estate marketer, you’re well aware of this fact. The relatively limited customer base and competitive marketplace make it crucial for luxury real estate brands to set themselves and their properties apart.
When it comes to marketing luxury real estate, social media can be one of the most effective tools in your toolbox. Since real estate is inherently personal, even at the corporate and luxury levels, marketers can use social media to cultivate productive relationships with leads. The problem is, there is a lot of misinformation out there about best practices in social media marketing for luxury real estate.
That’s where you come in. We need your help to get the latest information on how real estate companies like yours are using social networking to move luxury real estate. We want to know: which networks are you finding to be the most helpful in generating leads? What’s working? What’s not?
If your company markets luxury real estate, we invite you to take the survey. It should take less than 5 minutes of your time. Responses will be reported in aggregate, and no identifiable information (individual or company) will be shared with anyone.
Responses are due June 30, so act now so your voice is heard. Provide your email address, and we’ll share the results so you can see how your company compares to the industry at large.
Please contact [email protected] with questions.
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How to Increase Leads with Chatbots
Real estate brands are all too familiar with the challenges of generating leads. Here’s how chatbots can help by improving user experience and engagement.
Highlights:
- Within one day of adding a chatbot to our website, we had a meeting set up with a prospect. That was in the first 24 hours.
- Using a chatbot for your properties means that your real estate brand is working even when you aren’t.
- Conversational chatbots help build trust in your real estate brand while creating a positive customer experience.
We have talked a lot about the popularity of chatbots and how to implement them into your digital marketing strategy. But beyond the initial set up, have you really squeezed the juice out of this automated tool to help increase leads?
We decided to dive into the chatbot pool and our firm’s results speak for themselves. Within one day of adding a chatbot to our website, we had a meeting set up with a prospect. That was in the first 24 hours. This prospect turned out to be our next client and the initial connection was all made through the chatbot.
Lead generation with conversation
Buying or leasing a property is a huge decision, one which usually involves a range of emotions. One of the best ways to connect with potential buyers is through a thoughtful and informative customer experience.
Chatbots can help bridge the gap between your brand and potential buyers. Conversational chatbots help build trust in your real estate brand while creating a positive customer experience. They typically handle conversations with clients that are at the top of the funnel — generally people you don’t know and who might be unsure of whether they are actually going to buy/sell the property.
An article in The Startup on chatbots for real estate concludes they bring many benefits:
“The bot can be programmed on tasks like collecting basic information in the form of asking relevant questions and generating relevant answers resulting in an e-mail capture. Additionally, the chatbot can even transfer the conversation to a human agent, if need be.”
Other lead generating opportunities with chatbots
Real time answers 24/7
Questions about your new property or specific amenities? These are questions that chatbots can immediately answer. Don’t leave prospects waiting for you to return their email or form submission. Bots can answer questions about your property instantly.
The other benefit of using chatbots? They don’t need sleep! Real estate questions don’t always arrive at convenient times. Using a chatbot for your properties means that your real estate brand is working even when you aren’t. Prospects can get their questions answered 24 hours a day, seven days a week.
Virtual tours
Nurture prospects with catchy images of your property and amenities. With the click of a button, your chatbot can offer prospects a virtual tour of your property without ever leaving the page. The impact: prospects leave the chat armed with informative and helpful information about your real estate brand.
Tracking
Most chatbots automatically log interactions with leads that engage with your bot. Once you’re ready to engage with prospects, you can easily access past interactions to know where the prospect is in the sales funnel, as well as key preferences they may have expressed in earlier conversations.
Follow up
Real estate brands are constantly juggling marketing tasks. Use chatbots to help alleviate your workload with follow–up automation. Users can identify how they want to be contacted or specific questions they need answered, taking the guess work out of the follow up process.
Real estate brands need to experiment with chatbots for the ease and convenience of automation, along with the positive audience experience. But to get the most out of your chatbot make sure you’re tracking your success and tweaking interactions along the way.
Need help setting up your chatbot? We’re here to help.
Related posts:
- Using Messaging Platforms for Real Estate to Deliver Content
- Good Real Estate Marketing Gets Personal
- Social Media Trends for 2018 Real Estate Marketers Need to Know
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Wellness Amenities are the Biggest Trend in Luxury Real Estate
The latest trend in luxury real estate focuses on peace and tranquility. Here’s why wellness amenities, like meditation gardens and yoga decks, are growing in popularity.
Highlights:
- Modern luxury residents are trending away from the traditional flashy displays of wealth, and toward the peace and tranquility of wellness amenities.
- Luxury condo residents are just as likely to look for meditation gardens and yoga studios as gyms and on-site spas.
- Lush plantings, meditation studios, and sky-lit seating areas attract residents and require very little maintenance because of their simple, inherent beauty.
When most people think about luxury real estate, extravagance comes to mind: car elevators, helicopter pads, two-story gyms, and fine–dining restaurants inside glassy residential towers. However, modern luxury residents are trending in a different direction, away from the traditional flashy displays of wealth, and toward the peace and tranquility of wellness amenities.
The Rise of Luxury Wellness Amenities
Personal wellness is a cultural trend on the rise. Now, that focus on the soul-body-mind connection has also reached luxury residential communities across both the United States and the globe. While private theaters and state–of–the–art lobbies are still a big part of the equation, we are seeing increased demand for amenities that promote tranquility.
These days, luxury condo residents are just as likely to look for meditation gardens and yoga studios as gyms and on-site spas. They treat peace of mind as a precious commodity — and luxury residential communities have been racing to adapt to the change.
Some of the biggest names in luxury real estate are leading the way:
Providing Tranquility and Communion with Nature
In Hallandale Beach, Fla., 2000 Ocean has created a tranquility garden where residents can take a walk or relax in their very own lemon tree grove. At 1030 Kings in West Hollywood, an outdoor yoga deck has been constructed to offer a breathtaking place to breathe and unwind. And, in New York City, One Manhattan Square recently opened one of the largest private parks in the city, reserved exclusively for residents and their guests.
Using the Space You Have to Create Luxury Wellness
An interesting aspect of this new trend is that buildings don’t necessarily need access to large outdoor areas. You may not have an expansive courtyard or an open lot nearby to transform into a tranquility park. Or, perhaps, your outdoor areas are already dedicated to family-friendly amenities like a dog park or playground. The good news is you can use existing space to include wellness amenities — although not every community has the resources to go as far as Gramercy Square in Manhattan.
Gramercy Square has forgone the idea of the open-air retreat and built an 18,000-square-foot subterranean amenities club with a sky-lit pool, yoga room, and studio staffed by reps from a Manhattan meditation center. Other high-rise luxury buildings are using their upper floors and roof access to provide outdoor serenity, including features such as private, sunlit spas and planter gardens.
Luxury Real Estate and Wellness Amenities
If you are developing or managing a luxury condo building, this trend cannot be ignored. Not only are today’s luxury residents clamoring to live in buildings that provide wellness amenities, but these amenities often come with very reasonable overhead. Lush plantings, meditation studios, and sky-lit seating areas attract residents and require very little maintenance because of their simple, inherent beauty.
Are you raising awareness around your wellness amenities? If not, let us help.
Related posts:
- Using Content Marketing to Market and Sell Luxury Real Estate
- The Role of Social Media in Luxury Real Estate Marketing
- 5 Luxury Real Estate Brands that Use Content Marketing to Sell Property
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