As much chatter as there is online about newsletters, they are still one of the most effective ways to engage with your audience. Studies show that email is 40 times more effective in generating new leads than social media.
Email is 40 times more effective in generating new leads than social media.
The Data
In a recent article published by Agent Drive, they compared real estate marketing channels and came back with some interesting results:
- The most popular marketing channel is email, more than double the amount of users over social media
- 98% of top-performing agents (making $100K+) say email is the best real estate marketing channel for converting leads
- Real estate ranks 4th (behind government, banking, and advertising) for being one of the most annoying industries on social media
- Email marketing ROI is about 3800%
- 75% of Gmail’s 900M users access their accounts via mobile devices
A benchmark study conducted by Mailchimp dives into email campaigns by industry a little deeper:
Showing the average open rate for real estate is 19.17%, with an average click rate of 1.77%, where the average benchmark across all industries is 21.33% and 2.62%, respectively.
What they also found is that hobby-focused emails have the highest click rate, of a whopping 5.01%!
Why does real estate rank lower than average?
This actually isn’t surprising. The industry results should be higher, but there are a lot of boring real estate newsletters out there.
So many real estate emails can be so industry-focused, where they should be focused on their customers instead (market report emails statically get the lowest open-rates!).
Instead, you need to lead with your reader’s interest first.
It is interesting is how the stats jump when you combine hobby or interest-related themes in your newsletters.
Take this example:
What this real estate newsletter does well, is that it entices the most general audience (in this case, meat-eaters in Los Angeles), and then tackles the more specific audience (luxury buyers in Los Angeles).
They also use a beautiful layout, with clear CTAs.
Trulia also has some great email campaigns, that could easily be adapted to fit your market and current inventory:
This email is a great example of engaging your audience, compelling them to click through to action.
The button CTA is also fantastic!
Looking outside of real estate can also be a great place to get ideas. Take this example from Invisioneer:
As a team or a broker, this would be a great way to introduce newer agents, or lean on your more experienced agents to offer advice or share expertise.
Combine this with a live Q&A on your social channel of choice, and you have created a whole new audience of engaged readers.
The Bottom Line
Email is here to stay. It is your biggest audience, but don’t just send market reports or open-house listings. Give them a reason to click, and a compelling action to take.
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Tap into your target market’s hobbies. Selling waterfront properties? Why not share the best waterfront restaurants (followed by upcoming open houses in that area).
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Need to unload some inventory? Try highlighting options within your market in an engaging and compelling way (clicking over to a blog post that highlights current listings).
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Looking for first time home buyers? Offer advice on how to renovate on a budget, or the top playgrounds in your market (then follow up with available houses in that area).
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Want more exposure? Share your story, introduce yourself or your agents, and give your readers a way to engage with you online.
What has been your most effective email campaign?
