WHAT IS THE VALUE OF YOUR DATABASE? PART TWO: CHALLENGER
Get an insight into the latest property-marketing trends with our resident content-marketing expert, Ben Metheringham. Discover how to use content marketing effectively to generate more valuations, instructions, and financial service revenue from targeted property campaigning.
In part two of my new five-part series looking at database value within estate agency, we turn our attention to the challengers.
Over the next few weeks, I’ll also be looking at three other types: Established, Rising Star and New Joiner. We’ll examine the average Return on Investment you should expect to generate, what the overall marketing strategy is, and what the most effective marketing tools are that are generally being used by these agents.
You’ll also get to hear from an agent in these groups who are using the platform, as they discuss their Return on Investment in terms of valuations and/or instructions generated within a business quarter.
In case you missed part one, click here to find out more about the market leaders.
All the figures used are based upon results generated by agents using BriefYourMarket.com and are based upon a £2,500 selling fee.
If you’d like to get a better understanding of what your database is worth, request your free database appraisal by filling in our database questionnaire at the footer of this page. We’ll provide you with your free assessment of what you could generate by directly marketing to your archive data, and you’ll qualify for our money-back Return on Investment guarantee if you join us in the future.
For now, let’s take a look at the challenger.
What are typical challenger characteristics?
“The challenger was an early adopter of digital marketing as a long-term growth strategy. They are happy to invest the time creating bespoke digital campaigns, sending them to select contacts in their database. This means their campaign strategy is more focused on segmentation rather than blanket canvassing. They often have 7+ branches, are no.2 or no.3 for instructions in the area, they’ll be a recognised high-street brand, and will be focused on ways to scale to market leaders.”
Average number of valuations, instructions and Return on Investment generated for a challenger using BriefYourMarket.com:
Average number of valuations generated per quarter:
48
Average number of instructions generated per quarter:
21
Average Return on Investment generated per quarter:
£52,500
No. of contacts in database
Average number of property email campaigns sent per quarter
%
Percentage of database contacted per property email campaign
Average website visitors driven per quarter
Marketing strategy: Invest in data
How do challengers invest in their data?
– They send, on average, three email campaigns per day to segmented lists of their database using automation.
– They send to around 250 people per campaign.
– Data quality is key, and they recognise the importance of entering and maintaining data parity within their CRM.
– Digital prospecting is a daily activity.
– Data quality enables them to be heavily reliant on automation and segmentation to mine their data effectively.
Most effective BriefYourMarket.com marketing products used by challengers:
BuildYourMarket plays a part in generating new leads, growing their database and winning more instructions. Challengers are generally committed to actively prospecting on-market opportunities that are being sold with another agent in the area. BuildYourMarket presents all on-market opportunities in one dashboard and enables them to quickly canvass for secondary instructions via digital and print campaigns.
Digi-Val helps them to actively grow their database. Digi-Val is an integrated online estimation tool. Challengers are looking to build their database to compete with market leaders. Digi-Val captures a prospective seller’s details and provides them with an estimated value of their property using Land Registry data and recent sale prices of nearby properties in the area. Challengers then use these details to implement automated nurture-marketing journeys that prompt physical appraisals up to six months after the initial estimate.
The Campaign Library contains over 100 top-performing, pre-built, ready-to-send property campaigns and templates. This enables challengers to quickly customise their campaigns quickly. There is a great mix of campaigns to choose from: market updates, financial services, topical, review, seasonal, and educational.
Automation plays a key role for market leaders. Targeted nurture-marketing journeys are used to ensure that all cross and upsell opportunities are made during a transaction. Post-completion nurturing ensures that they maintain a stay-in-touch policy to generate repeat business.
Request your free database appraisal today…
How many valuation and instruction opportunities can we find in your database?
Answer ten quick questions and we’ll provide you with a bespoke database analysis that will help you to benchmark what you could generate by marketing directly to you archive data.
Thanks for your time!
Ben Metheringham
Head of Sales