The Key to Effective DRIP Campaigns: Real Estate Market Data
Real estate market data can help agents bust through the email clutter when it comes to creating effective DRIP campaigns. Here’s why that is so important today: According to recent data, 293.6 billion emails were sent out in 2019, and 99% of consumers check their email every day.
Now you might ask, how can that be? We still have a couple months to go in 2019. To clarify, that’s the number of emails that are sent out DAILY. That amount is truly staggering. It’s expected to grow to 347 billion daily in 2023. Here are a few other email-related facts that might boggle your mind as well:
- The average office worker opens 120 emails per day
- Marketers using segmented email campaigns note as much as a 760% increase in revenue
- More that 50% of US users check their personal emails more than 10 times a day
- 93% of B2B marketers use email
- 59% of B2C marketers state email is their biggest ROI source
- 5 out of 10 emails are spam
It’s easy to see that consumers today are slammed with incoming email campaigns. The news is not all negative, however. According to research, consumers like email with about 99% of consumers checking their email every day. Therefore, the average real estate agent has a challenge ahead of them.
So, how do you get consumers to read your real estate emails? And how do you maximize the efficiency of your DRIP email marketing strategies?
Real Estate Market Data for DRIP Campaign Key Content
Most agents know DRIP campaigns can be a very effective way to keep in front of prospects and existing customers. A DRIP campaign is a direct marketing tactic used for lead nurturing by sending information to prospects over long periods of time to guide them through the marketing funnel.
These automated types of campaigns are distributed on a consistent basis and were traditionally used with direct mail using snail mail. But now that email has become such a prominent delivery system in our daily lives, it is the most commonly used format for DRIP campaigns.
When it comes to big ticket items with long sale-cycles, such as homes for sale or listings, a DRIP campaign is essential. An agent absolutely must stay in front of prospects on a regular basis. People don’t buy homes or sell homes every week. But when they do, you want to be in front of them. You certainly don’t want a competitor to come in at just the right moment and take that prospect away. Especially if you have spent a considerable amount of time marketing to them.
As you can see from the numbers above, persuading consumers to see your email can be quite the challenge. That’s where you need more than fluff to succeed. That’s where an automated real estate marketing program, such as Listing Leader, can play a big role in getting those emails opened and maintaining top of mind awareness.
How Big Real Estate Data Helps
Here’s the key: this is the era of big data. Big real estate data. Agents now have the ability to feature hyper-local real estate market data on their own websites. Consumers don’t need to go surfing all over the web to find trends in Property Sales or School Data (or turn to those mega real estate portals). An agent can now provide all that information… on their own website. And they can provide information about local market conditions and trends in an email campaign.
In fact, with Listing Leader, the program will not only send out an email on a pre-scheduled, consistent basis, it will also provide readers with updates and current real estate market data. If someone is looking for a home, they are going to be very, very interested in seeing in which direction the market is going.
Are home sales slowing down? Are home prices picking up? What are the median prices? Average days in inventory? Etc. With a purchase the size of a house, those trends are extremely important to consumers. Because of that, those emails should have a very high open rate.
What’s even better, for those consumers to read about local market conditions, they have to return to the agent’s website (or micro-sites that can be created for specific neighborhoods). That creates a great lead nurturing opportunity. Maybe a phone call. If anything, it also helps build brand recognition and implants in the consumer’s mind that this agent truly possesses hyper-local knowledge about the neighborhoods they are farming.
Use Real Estate Market Data for Social Campaigns, Too
In this age where social media is such a dominant force, the DRIP strategy can be applied to this medium as well. (And, what’s even better, social media is FREE). But just like email, there are a massive number of social media posts out there all battling for the attention of consumers. It’s certainly not a vacuum. Other marketers, including competing real estate firms, love to reach out to prospects on social media as well.
As the old saying goes, constant repetition yields results. Listing Leader can send out pre-programmed, automated social media posts on a regular basis. And more importantly, it can supply real estate market data in those social media posts. That’s the powerful real estate market data that will catch the attention of people looking to invest in a $500,000 home or contemplating the sale of their $1 million-plus property.
The incredible benefit of real estate marketing automation today is that at this point in time, it is not very expensive. An agent doesn’t need to hire a programmer to create an automated program. They don’t need to hire an editor to fill those emails and social media posts with content. There are companies out there, such as Home Junction, that have developed software programs which already provide automated real estate marketing services. At an incredibly low monthly rate.
This is the 21st century. There are tools out there that can help agents stay engaged with their customers. But the competition for people’s attention is fierce. By combining hyper-local real estate market data with automated tools and sending out consistent DRIP emails and social posts, an agent can rise above the fray and provide prospects with information they want, need and will read.