The real estate sector is one of the most rewarding industries. However, in the last decade, real estate has evolved into one of the most vigorously competitive industries.
Studies have shown evidence that:
Realtors need to improve their strategies to ensure survival and growth in this highly competitive business. Email marketing is a great way to ensure they remain relevant.
As the world shifts towards a more digitally dependant era, emails continue to serve an important role to keep clients and prospective customers updated.
Studies have shown that:
(Source: National Association of Realtors)
Here are some of the reasons realtors are turning to email marketing:
Let us take a closer look at some commonly used real estate email marketing strategies that have proven to be effective:
Once you create an email database, it is important to segment your audience based on several factors such as their preference, location, budget, family size etc.
For example, if you are segmenting a list for senior citizens, you can provide them with property options near parks and healthcare facilities.
If your subscribers have mentioned their location, you could give them options nearby. This helps to increase the likelihood of conversions.
A landing page is a part of your email marketing strategy. This is where your subscribers visit first and then proceed to subscribe to your email list.
This is a specialised page on your website with targeted information. The page contains information regarding availability, home search, property listing, home valuation tools and other specialised information.
A user is directed to a landing page from different sources such as email or through ads on social media networks such as Twitter, Facebook, Instagram etc.
Some tips to create an effective landing page include:
Studies have shown that personalisation is the key to success in marketing through emails.
Another study done by Epsilon has indicated that personalisation can increase the likelihood of purchase by 80%.
The graph below shows the Marketing email open and click rates in the United States by the degree of personalisation.
Marketers have developed several tools and techniques to personalise messages in accordance with the purchasing decision of their customers.
Webforms are becoming increasingly popular among the realtors. These require the user to fill in with their contact information.
You can use the forms to collect information such as phone numbers, email etc. The collected data will be stored within the CRM and will be in sync with the email marketing software.
Automated emails are usually triggered emails based on certain user action.
Say for example; an email is sent whenever a prospect fills out an online form, subscribes to your service or downloads an ebook from your website. That’s the power of automation.
Some other benefits of email automation include:
While designing emails for your campaign, make sure to design targeted emails that are specific to your marketing goals.
For example, your weekly newsletters should have different content than a property bulletin or an appointment confirmation email.
Your emails have to be optimised based on a specific purpose. The email design, style and structure should be specific for your brand. This is because your email is just one amongst many others (of your competitors) to hit the inbox of your subscribers.
With so many real estate agents out there, your prospects can get confused.
Even if you create an excellent email, there is no guarantee that it will be opened and read by the user.
However, creating a compelling subject line ensures that you maximise your email-open rate.
Although you could incorporate several elements which can improve the conversion rates, including video ads in your email is one of the best ways to create engagement and deliver a message.
For realtors, video emails offer unlimited possibilities to showcase their business. You can include a video to guide your readers on various properties that you have to offer.
Certain studies indicate that emails with a video attached have an open rate of 81% when compared to other emails.
Video emails help to reinforce the trust factor and give an assurance regarding the effectiveness of the services that you have to offer.
Various email marketing tools are available to help you upload the videos and embed them within the email.
In the real estate business, developing a personal relationship with your customer is a vital step in growing your business.
One of the most effective ways to do this is by sending emails that contain valuable information. The information can be provided in the form of blog links, videos, checklist, event invites, eBooks etc.
Closing on a real estate sales takes time. You need to carefully plan every email that you send to your customers.
Your prospective customers won't plan for an immediate purchase after receiving your email. They might thoroughly research other properties before doing so as even a single purchase will cost them thousands of dollars.
Including social media icons within your marketing emails is a great way to continue building impressions with your customers. Expose them to your other marketing platforms and over time, you can build trust with your prospective customers and eventually create a conversion.
Social media also makes it easy for your subscribers to share relevant content with their friends or family.
As a marketer, you need to constantly monitor the results of your campaign. Some of the metrics that help to improve your email open rates are :
Getting business and then surviving by making a sale in the real estate sector is not an easy job. Marketers have to use the most innovative methods to stay ahead of the competition.
In this article, we have described the applicability and benefits of email marketing in the real estate business.
The great thing about email marketing is the flexibility that this technique offers along with a multitude of possibilities for the owners to showcase their business.
With minimal investment, they can drive business sales worth billions. By employing some of the techniques mentioned in this article and investing in a good email marketing software you can propel your real estate business towards success.
Check out some ready to use templates if you are a realtor looking for a head start on your email marketing campaign.