The Real Estate Marketing Terms Agents Need to Know
Marketing is a major part of what you do as a real estate agent, and you have to be somewhat of a marketing wiz to stand out amongst the overwhelming amount of content floating around these days.
Not everyone has the time to master everything there is to know about marketing, which can often sound like a language entirely of its own, so here are a few important real estate marketing terms and definitions (in no particular order) that will come in handy as an agent:
Marketers are completely obsessed with them, to put it lightly. They are the key to analyzing the effectiveness of your marketing efforts and help determine what changes need to be made in order to see the ROI you need. As an agent, analytics will help you determine whether you’re running the right kinds of ads and content, for the right kind of people, at the perfect time.
Most of the tools that you are likely using (Facebook, Instagram, etc.) will have their own analytics systems built in. The key is to not only look at what the numbers are, but to look further into what they really mean for your business and what you can do to strengthen them.
Clearly, we are massive fans of the strategy here at MoxiWorks. A blog is a website or web page that is consistently updated with fresh new content. The latest pieces usually appear first, and the oldest last. Blogs can be authored by one person writing all of the content, or large groups of people all contributing different pieces and types of content. The main point of having a blog is to create a platform for you to communicate directly with your target audience in creative and engaging ways. With social media being so essential in today’s business world, blogs also serve as rich content to share across all of your channels, meaning much more bang for your buck.
Being successful at marketing requires you to have some idea of what your target client base or audience looks like. For example, if you’re selling luxury real estate, your audience is going to be much more specific and focused than if you are selling the typical middle-class neighborhood home.
Knowing who you should be targeting will help guide your entire business in the right direction. Not only will it help you create content that will be more relevant to the people that count, but it will also make all the difference in the level of success your ads experience.
If you’ve ever posted an ad on Facebook (if you haven’t, better start ASAP), you are likely familiar with the options it gives you to specify who you want your ads to reach. It usually asks for things like age and what types of keywords might be associated with the people you are wanting to reach. Having an accurate picture of your target audience will help you target these ads correctly and increase the amount of leads they generate.
They are the heartbreakers and the game makers of your website. Put simply, your bounce rate is the percentage of visitors that leave your site after only viewing one page, as opposed to browsing through multiple pages. it’s an important stat to keep your eye on, as it can tell you a lot about where you should focus your efforts when it comes to optimizing your site. Although it can be disappointing to see a high bounce rate, don’t let it get you down. Especially as an agent, your clients may only need what is on the one page that they visit. For example, if they are simply looking for your email address, which happens to be front and center on the first page, it isn’t necessarily a bad thing for them to leave after quickly jotting it down.
The explosion of the internet has made content marketing the norm for most successful businesses. Instead of simply marketing your product or service, content marketing allows you to go deeper and actually build value and brand loyalty in the minds of your clients. Not only does this create more reliable and sustainable business, but it gives your brand an opportunity to have a much more significant and defined voice. This may include using content such as blogs, the Moxi Neighborhood News tool, and newsletters.
Cost per lead.
Every marketing activity that you put time and effort into costs you in some way. Cost per lead is the amount you pay to generate a new lead. If it is organic marketing (non-paid), then the cost is the time that you spend creating the content that you could be spending doing something else for your business.
And just like that, you’re on your way to becoming a marketing aficionado. Trial and error will be your best friend, but make sure to use data to guide your decisions and keep the error minimal.
Keep checking the Moxi Blog for more marketing tips and tricks you’ll want to know to stay ahead and keep up your tech savvy image.