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Five Ways to Improve Your Real Estate Email Marketing Metrics

Let’s find out how well you’re doing with your email marketing, shall we?

To do so, let’s see how you stand up to industry standards. Do you know what the email marketing open rates and click-throughfeature_email rates are for the newsletters and drip campaigns you’re sending?

To make the most of your digital marketing efforts, brokerages and agent teams should be tracking baseline metrics around open rates and click-through rates and know how they measure up to industry standards.

After all, your database of leads and clients is your lowest hanging fruit for new deals. This business is built on repeat and referral business. Tracking your email metrics, and comparing them to real estate industry benchmarks, will help you understand whether or not you are effectively reaching and engaging your database with your email marketing efforts.

Real Estate Email Benchmark Data Source Median Open Rate Click-through Rate
Silverpop Industry Benchmark 21.4% 2.8%
Mailchimp Industry Benchmark 22.12% 2.68%

Benchmark email marketing metrics for the 2014 for the real estate industry show a healthy open rate and fall at the high range of the typically anticipated 1-3% click-through rate benchmark for email in general.

If your current email performance falls below these real estate industry benchmarks, you should revisit how you’re approaching your email marketing to see if you can fine tune for better results.

Five Ways to Improve Your Real Estate Email Marketing Metrics

Here are five areas to consider that can help improve the email marketing open and click-through rates for your real estate business:

1. Subject Lines: The subject line is your first impression – make it count! If you do not A/B test already, this can really help improve your overall email metrics.

For example, consider A/B testing two different subject lines on 10% of your database – 5% with one subject line (List A) and 5% with another (List B). You send the same email body copy with two different subject lines to see which one gets the higher open rate. The one that wins the A/B test is the one that then goes out to the remaining 90% of your list.

  1. Email Copy:  The content quality and graphic design of your email are important. Make sure your email templates are mobile friendly, well-written, and nicely branded and designed for the various use cases you have for your business – e.g., open houses, special events, market insight reports, listing updates, blog newsletters, and so forth. Make sure you always test all your links and spellcheck everything before you send too! Your emails represent your brand.
  1. Calls to Action: You should always ask yourself prior to sending an email to your leads and/or clients, what do I hope the outcome is when the recipient reads this email? What do I want to communicate? Do I wish for them to take any specific action? Answer this question first and then make sure your calls to action are very clear and obvious.

As an extra aside, keep in mind that you can also A/B test your email copy and call to action button size, button placement, or button text to see how this impacts your click-through rates. You can also use different tracking codes on your email links to see where people are clicking the most if you have multiple calls to action pointing to the same landing/destination page.

  1. Audience Segmentation: We no longer live in the world of spray-and-pray email marketing in any industry. But for an industry that requires that personal touch to stand out, this is one way you can truly differentiate yourself in real estate marketing.

It is important to think about the ways you want to be able to target messaging to your clients and prospects. For example, buyer vs. seller, customer vs. prospect, geography, budget, and so on. Use your real estate CRM and real estate email marketing software to your advantage by leveraging the data you have in your database to customize and personalize your email communications.

  1. Industry-Friendly Email Marketing Software: It is a bit self-serving to discuss the merits of real estate marketing technology since that is what we live and breathe here at Boston Logic. But it’s relevant and important to this conversation. Because there is so much data that is unique the real estate world, it makes a difference when that data is baked into your marketing operations.

So whatever real estate marketing software you use, make sure it offers integration between your MLS, email marketing (tools, templates, and automation) and CRM within one ecosystem. This will help you more intelligently execute your email marketing and see better results and higher levels of engagement.

We hope you found this blog article helpful! If you likes this, you may also be interested in our Email Marketing Infographic.

For more information about Boston Logic’s email marketing solution, LogicReach, please call us at 617-266-9166 or schedule a demo here.

Benchmark Data Sources:

http://www.silverpop.com/Documents/Whitepapers/2014/Email-Marketing-Metrics-Benchmark-Study-2014-Silverpop.pdf

http://mailchimp.com/resources/research/email-marketing-benchmarks/

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Formed in 2004, Boston Logic is an online marketing and software firm focused on the real estate industry, providing software, online marketing, and design services to real estate companies. Boston Logic helps works with real estate developers, brokers, and agents to help them grow and succeed by leveraging technology, marketing services and the web.
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