Many people talk about real estate email marketing, but have you ever wondered why emails are becoming one of the most popular methods of communication day by day? A first fundamental fact, which should make you think, is the following: 95% of customers who surf online have at least one email address that they check periodically during the day. From this simple number, you can easily understand that one of the most effective tools, through which you can get directly to the heart of your potential customers, and therefore seize interesting opportunities, is certainly that of emails.
Why is real estate email marketing so important?
If you are still not convinced about the important role that emails have in the management process of your customers, here are some interesting ideas to think about:
1. Thanks to emails you can send information that you would not be able to convey through a simple phone call
When you contact potential customers through emails, you can immediately send them photos of apartments, information on the price and size of a property, as well as other fundamental information related to the sale/purchase process. In this way, you will get a much more effective and persuasive communication, since the images, together with all the other information, will be able to describe the house much better than you can by telephone, or in any case in words. On the other hand, you know… a picture is worth a thousand words!
2. Most users prefer emails
In numerous surveys, respondents admitted that their preferred contact method for commercial communications is email. The reasons behind this answer are essentially two: firstly, it is the user himself who spontaneously chooses to receive certain newsletters, by registering, thus communicating his will to stay in touch with you; secondly, because in this way abrupt and unexpected communications are avoided.
In fact, if a person receives a call at an inappropriate time, they will feel annoyed by the interruption and will not pay due attention to your communication, thus causing you to have an extremely negative effect, such as the loss of a potential customer. Conversely, if an individual receives an email while he is busy with other activities, he can read it later, paying due attention.
Furthermore, if the prospect wants to review the characteristics of a property to carefully examine the details or simply to refresh their memory, they can simply return to the email that was sent to them, rather than calling their real estate agent directly. Everything is faster and smoother!
3. Emails are one of the marketing tools with the best return on investment.
On average, email marketing campaigns provide a return on investment (ROI) of 4,300%. Thanks to this tool, you can therefore reach your potential customers in an increasingly efficient way: careful and careful planning will allow you to lower the acquisition cost per contact and at the same time increase the net profit of your real estate business in a more than proportional.
4. Real estate email marketing is one of the best tools for generating returning customers
After helping a couple find their ideal apartment, they will likely still need you if their rent increases, or when their family grows and needs more rooms to live in comfortably. For this reason, we recommend that you stay in touch with them, periodically sending newsletters that have real value for them.
Share tips on how to make improvements to an apartment, how to decorate it and make it more welcoming, or even information about local attractions and events. By staying in touch over time, you can significantly increase the likelihood of being their first thought when they need a real estate agent again.
5. Thanks to the email you can get relevant conversion rates
The conversion rate for email communications is three times higher than what you could get through social media or other digital tools. It has been estimated that agencies that organize a real estate email marketing strategy for sending newsletters on a regular basis have 50% more leads than those that don’t.
Another important aspect is that these subjects generate more profitable sales, with a value greater than approximately 20%. All this, as mentioned above, with very low use of resources.
6. By sending newsletters, you can manage communication with your contacts much more effectively
Thanks to Email Service Providers, such as MailChimp, Vertical Response, MailUp, SendinBlue, and others, you can segment your contact list based on the area or type of apartment they are looking for, for example, by sending ad hoc communications. This allows you to convey greater value to your potential customers, who will certainly be more interested, without wasting too much time in individual calls which, as explained above, can also be annoying.
Clearly, when you define, for example, communications based on the area of origin, check that the subject of your email is also consistent: 33% of those who receive communications via email declare that they open the message based on what is written in the subject.
As you may have understood, then, real estate email marketing is certainly one of the best ways to increase the effectiveness of your online marketing strategy.
To give you a further confirmation, here are some of the latest statistics related to this marketing channel :
- 63% of real estate email marketing campaigns are characterized by a very positive level of engagement.
- 77% of people declare that they are happy to receive emails from those in whom they have shown interest by subscribing to the newsletter.
- By using email marketing to nurture relationships with their leads, real estate agents generate 50% more leads ready to buy, at a cost 33% lower than any other marketing strategy …
… and that’s just the tip of the iceberg!
There is a lot of data that supports the importance of using the email marketing tool in real estate: but you have to be careful because it is often easier said than done. To obtain good results, in fact, it is necessary to follow some precautions in organizing your newsletter!
Tips for implementing an effective real estate email marketing plan
We have already talked about how to build your real estate agency’s newsletters so that they are performing and able to achieve the goal of converting the contact into a potential client. But we want to offer you further ideas, also based on what emerged from the latest webinar created by Inman, one of the most authoritative sources in the field of technologies and new trends in real estate. Speaking of new trends, did you know that today the real estate agent, to adapt to the needs of new generations of buyers, must also be pet-friendly?
We now come to our tips to best implement your real estate email marketing plan:
- Focus on the conversion rate related to relationships, rather than actual contacts. Remember to send newsletters with various themes, not exclusively related to the real estate market, to avoid falling into monotony and keep the user’s interest high.
- Find out when is the best time to send emails. Generally, the highest opening rate occurs on days in the middle of the week (Wednesday-Thursday), especially between 2pm and 4pm.
- Send emails from your personal email address, rather than from a company address, as these have a higher open and click rate.
- Segmentation should be a must. Filter your email lists in order to better organize the newsletter and send only relevant information. Doing so will certainly increase your CTR (Click-through-rate).
- Insert links within the text and limit the use of buttons or CTA (Call-to-Action). This will allow you to obtain better performance since the user does not classify the email received as a promotional communication but as something more personalized and of value. In any case, if you send multiple newsletters to the same group of contacts, inserting a button on the fourth or fifth email generates a reactivation of interest from users and therefore an increase in the click-through rate.
The rules to follow after the entry into force of the GDPR
Since the entry into force of the GDPR on 25 May 2018, i.e. the new privacy regulation, particular attention must be paid to your real estate email marketing campaigns, in order to align with what has been established by the new legislation. Therefore, it becomes very important for real estate agents to understand which activities are allowed and which have been foreclosed or limited.
The GDPR was born with the aim of protecting the consumer thanks to a series of new rights, regarding the collection, management and use of data that he is required to share with companies when not only purchases a product or service but also when it takes information (it is the case that interests us). So how to manage the personal data of users to align your lead generation and lead nurturing activities with the dictates of the new legislation?
How the GDPR affects real estate email marketing
The influence of the General Data Protection Regulation – writing it in full – on your newsletters is significant since it lies in the definition of something that you find yourself dealing with on a daily basis in various ways: the personal data of users, potential customers, customers themselves.
Let’s start with the definition. Any information that can be used to identify an individual, alone or in combination with other data, is considered personal data. This means that the personal data and the email address that you collected from a registration form on your website are sufficient for your real estate agency to be bound by compliance with the GDPR legislation.
Since May 2018, real estate email marketing means collecting freely given, specific, informed and unambiguous consent. The subsequent profiling and prospecting activities of users also fall within the scope of the now famous GDPR.
How to behave in practice
Here is a check for you to do in your agency in order to start a risk-free real estate email marketing campaign and therefore sanction-proof by the GDPR legislation.
Check your current database :
– do you know the geolocation data of your contacts?
Collect the right legal information of your contacts and the acquisition procedures :
– have you requested express consent (opt-in)?
– do you have any trace of the origin of your contacts?
– how did you register them in your database?
– do you have enough information about the legal permission your contacts have given you?
Communicate and periodically review your data management methods :
– is it clearly understood by your recipients?
– do you update it when the conditions related to the data change?
Let’s now answer some of the most common questions that real estate agents ask us on the subject.
Am I allowed to purchase contact lists to send my newsletters to?
As mentioned, the GDPR prohibits sending emails to users who have never expressly requested to be contacted. There are lists purchased with a clear declaration of consent from the user upstream, and under the GDPR these can be used for your email campaigns, although we would strongly advise against this procedure. Time and money wasted!
Can I profile my contacts in order to send them personalized and segmented emails?
Contact profiling presupposes one more step than the collection of personal data, as it contains in its concept some aspects relating to the individual and one’s personality. Although the GDPR allows user profiling, it is nevertheless necessary to comply with the requirements to guarantee the rights of individuals.
In fact, your users have the following rights: to be forgotten, to be informed, to be able to delete or modify their data, to be able to have (within a month and completely free of charge) a copy of their personal data held by your agency, right to data portability and right of objection. It goes without saying that you must be able to fully protect all the rights of every single user in your databases.
Can my contacts ask me to stop their profiling?
Following an explicit request by the data subject pursuant to the new GDPR regulation, its profiling must cease, except in the event that the data controller demonstrates that the objection prevails over the interests, rights and freedoms of the requesting interruption. Our advice is to politely interrupt it at the first request from the user.
Now that you are also in line with the GDPR legislation that came into force in May 2018, you can really make a difference with your agency’s newsletters, by implementing an effective real estate email marketing plan in full legality.
According to recent studies, the average opening rate in the real estate sector is around 18%. By using these tips and continuously working to improve your real estate email marketing plan , you can easily reach and exceed this figure, as well as identify an extremely qualified and valuable database of contacts for your real estate business.