WHAT IS THE VALUE OF YOUR DATABASE? PART ONE: MARKET LEADER
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.
“Ben, what is my expected Return on Investment?”
One of the key questions I’m always (quite rightly) asked by agents when discussing marketing is: “What is my expected Return on Investment”. So, in the first part of a new five-part series, I wanted to offer some context as to what different agents can achieve based upon strategy, size, and the number of contacts within a database.
Over the next few weeks, I’ll offer an insight into what the predominant digital marketing strategies are of five agency types, including: Market Leaders, Challengers, Established, Rising Star and New Joiner.
We’ll examine the average Return on Investment we’d 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.
All the figures used are based upon real 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, you can fill in our 10-step 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.
Without further ado, we’ll begin week one with the market leaders.
What are typical market leader characteristics?
“The market leader is at the forefront of technology. They market to remind people of the quality of their brand. Database size, website, and data capture are key contributors to their continued dominance within the market. The often have 20+ branches, are no.1 for instructions in their area and will usually be the most recognised brand.”
Average number of valuations, instructions and Return on Investment generated for a market leader using BriefYourMarket.com:
Average number of valuations generated per quarter:
Average number of instructions generated per quarter:
Average Return on Investment generated per quarter:
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: Maintain brand awareness
How do market leaders maintain brand awareness?
– They send a property email campaign to their database every other working day.
– They engage with an average of 34,829 people per campaign.
– They send a weekly ‘hot property’ campiagn that showcases recent instructions.
– Their websites are constantly updated with new content, and they use this within their property email sends to drive direct enquiries via their websites.
Most effective BriefYourMarket.com marketing products used by market leaders:
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.
The Portal Lead Responder is used to ensure that all portal enquiries receive an instant reply. The automated response includes all relevant property details, prompts the recipient to request a valuation and links back to the property on the website. 100% of portal enquiries are followed up.
BoostYourMarket collates website interactions and campaign engagement, helping market leaders to quickly identify the potential buyers, vendors, landlords and tenants in their database. By tracking real-time website interactions, they can see exactly what services individuals are interested in. This allows them to make outbound calls to individuals or follow up with highly-targeted campaigns.
The Property Matcher automatically sends a set of properties that meet a prospective buyer’s search criteria daily, helping market leaders to connect relevant properties to buyers quickly. This is current available for Reapit clients only.
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