Homebuyer Registrations: Use market research for the (online) win
November 29, 2017
“Half the money I spend on advertising is wasted; the trouble is
I don't know which half.”
– John Wanamaker (1838-1922)
We now know!
Thanks to Google Analytics, we now know the source(s) by which people are registering — this data allows us to analyze and know where developer's budgets are best spent.
The “Rule of Seven” states people need to see your ad seven times before they take action. Whether or not you believe seven is the lucky number – you need people to see your ad. Not just any people. Your target audience for registering for your real estate development.
When you know where your people are, you can better target your marketing dollars.
Jelly Marketing wanted to know more about the impact of different marketing channels on prospective homebuyer registrations for residential real estate developments. They pulled the data and crunched the numbers, and shared their findings with BC New Homes:
“The biggest surprise for developers might be in the impact of paid Facebook advertising,” says Darian Kovacs, managing partner, Jelly Digital Marketing and PR Agency. “But the ads are easy enough to set up, and unlike traditional media, they can be targeted toward your audience. Targeting can be as simple as city of residence, and get down to specifics of age, hobbies and more.”
STORY CONTINUED BELOW
Where do registrations come from?
Using Jelly’s market research, a full two-thirds of registrations come through Facebooks ads, online search by the homebuyer (using generic terms, or a specific development’s name), and online referral – following a link in a website/blog article.
Another quarter of registrations were found to come as a result of direct advertising – the registrant typed in the website name, presumably seen elsewhere through advertising, signage, etc.; and through paid search ads – paying for top placement of through Google or Bing search engines. The remaining 10% of registrations came through social media channels and online display/remarketing ads.
“Online is an important space to be in, whether clients connect with you there or not. People go online to compare and contrast, conduct their own research – before engaging through social media or traditional methods,” says Kovacs. “Advertorial is a big win for developers, with the ability to share meaningful content and also drive homebuyers to websites and registration pages.”
Bottom line, according to Kovacs, is that “it all piles up.” The best approach is to spread out your budget, and be seen frequently, in the online channels where your future clients hang out.