What are the most common mistakes RE firms are making (that you can learn from)?
Adfenix conducted research that gathered actionable, qualitative insights from the most influential firms in the industry to inform our whitepaper “The 2021 Digital Marketing Benchmark Report for Real Estate” (available for download below).
We apply a digital lens, focusing on three critical elements of a competitive marketing strategy, which are:
1. The digital-first approach
2. Effective demand generation
3. Genuine customer journey ownership
Our research led to the creation of a detailed scoring criteria for each of those three elements, and then data gathered allowed us to score each firm against the criteria. We found that most firms score quite well on at least one element. Some: two of them. Yet few do all three well. Our discovery of these ‘weak spots’ reveals new opportunities to compete and provide solutions.
Most common mistakes RE firms are making:
Limited marketing automation - with many firms actually scoring 0/10, with no integrated use of marketing tools at all.
Limited digital efficiency - ie. Monthly number of visits vs number of listings. Arguably firms that have a high amount of digital traffic per listing are more digital-first than firms with a low amount of traffic per listing (relying instead on more non-digital contact with prospects and buyers). Of course there are other factors at play alongside other metrics.
Limited mobile speed - Derived from Google PageSpeed Insights, with many firms scoring under 30/100. Limited mobile responsiveness is not conducive to reaching the digital agent’s business goals - because most consumers tend to be mobile-first when it comes to their researching and buying activity.
Below-average web usability - This ‘metric’ of website usability score is based on best practices, but unfortunately, many score 5/10 or less. The good news? Although usability is not easy to solve, it can be outsourced to specialists relatively easily, and unlike many other areas of a firm’s digital marketing strategy, it does not need continuous attention. A website can be redesigned along with a firm’s information architecture, navigation and interface as a discrete project for a fixed fee, and then may only need to be re-evaluated one or two years later.
Download our whitepaper to find out what the highest-performing RE firms are doing right in order to score high results on all these different criteria.