A rundown of the technology that could transform your marketing processes
New tools and technologies are enabling businesses to effectively monitor ROI on marketing campaign spend and improve back-office marketing processes.
Until recent years, many property agencies have lacked the ability to properly monitor their real estate marketing campaign returns, or improve marketing processes. As a result, unauthorised marketing transactions may have taken place, and agencies may have failed to recover vendor-paid advertising contributions. These inefficiencies can damage performance and profitability and ultimately compromise a business’s reputation, both in the community and with its peers.
It’s time for agencies to move away from antiquated or paper-based systems to track real estate marketing campaign return on investment, and improve the efficiency of back-end processes.
Insights and analytics tools
Online analytics tools can be used to turn information about the people who visit a real estate website into competitive intelligence that can be used to target marketing spending more effectively.
Document-sharing tools can eliminate hours from the time required to deliver contracts and other time-sensitive information to buyers and sellers, and receive signed copies.
Campaign monitoring tools may enable a real estate business to see whether email campaigns are resonating with a target audience, and make adjustments as required.
Finally, automation tools can be used to streamline back office processes such as property entries and collateral creation, and share relevant information with customer relationship management and accounting systems.
A range of tools and technologies are available to help real estate marketing teams achieve these benefits.
Selecting the right technologies for real estate marketing
To track return on spend in digital marketing, agencies may monitor customer activity using Google Analytics, iTunes Connect (mobile), Google Play, Tweetdeck and bit.ly. They may use DropBox or Google Docs to scan contracts and share them electronically with buyers and sellers. In addition, they can use tools like Campaign Monitor or SurveyMonkey to track the performance of email campaigns. Then there’s the split between agency and vendor paid spend, which can be managed by real estate specific technologies such as Campaigntrack.
But with any technology deployment, a real estate business should select the tools that best meet its individual business and technical requirements, and engage users early in the selection and implementation process to minimise resistance.
In a climate where marketing dollars are at a premium and businesses can switch to different services with relative ease, the return on investment for each tool deployed should be measured and monitored on a regular basis.
These tools should help the teams gain more knowledge of buyers and sellers, provide more effective customer service and operate more efficiently. In an environment where real estate businesses must direct marketing budgets across a range of channels – and interact with clients and prospects anytime from any location – harnessing the efficiencies of technology is vitally important.
Agencies that fail to seize the opportunity to transform their real estate marketing risk becoming outdated and losing clients to competitors that do. Now more than ever, businesses need to interact with their clients in ways and times of their client’s choice and nowhere is this matter more prevalent than in the real estate industry.