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Real estate marketing is a tough job. You're expected to manage a vast array of campaigns, customized for your communities, across a range of platforms and on- and offline activity. All of these marketing actions are generating data - but are you really analyzing it to make data-driven marketing decisions? Or are you relying on your experience and intuition (in other words, your "gut").
If the latter, you're not alone. There are key challenges that make it (really) difficult. The good news? You can overcome them.
That's exactly what our CRO, John Peragine, spoke about at the recent International Builder Show at the Sales Central stage. You'll gain a summary of key points, but if you want to download the full presentation, you can! Claim your copy.
You'll learn the two major problems that hinder data-driven decisions in real estate marketing, and a new approach to including consumer insights into real estate marketing analytics to drive growth.
Let's jump in.
Two Major Problems for Today’s Real Estate Marketers
There are two big challenges that make true real estate marketing analytics effective:
- Gut Feelings Drive Decisions: This leads to risky marketing decision-making that's based on assumptions, not evidence.
- Acquisition Confusion: Most real estate marketers aren't sure where leads are coming from, because their lead sources and path-to-purchase data is silod.
It's a little bit of a chicken-and-egg problem: lack of quality data leads to gut-based decision-making, which then leads to less prioritization of data-driven decisions.
The good news: there is (finally) a solution.
The Solution: Integrated Real Estate Marketing Analytics
It's one thing to collect all your data from different marketing platforms, like Meta, Google Ads, and Google Analytics, in one place. It's another to get that data to "talk to each other" so you can truly understand the story it's telling. But the true gold standard is aligning your own marketing performance data with powerful consumer intelligence.
This is exactly what big brands are already doing; Amazon, Walmart, Samsung, P&G, The Home Depot, Ford, Target, and more are all successfully analyzing their historical marketing performance, leveraging consumer insights, and using that to guide future marketing decisions. And this process is exactly what makes these brands so successful at reaching viable buyers for higher conversion rates.
Until now, there hasn't been a purpose-built real estate marketing platform that makes this possible. But that's exactly what Audience Town does.
Audience Town empowers you to gain confidence and recognition by tracking your marketing performance and proving your wins with clarity and impact. It’s a crucial step for avoiding costly mistakes from flawed targeting and strategy. To learn exactly how Audience Town does this, you'll want to book a free demo.
But if you're not yet ready for actionable insights that can improve your marketing performance, keep reading. We'll be digging into real estate consumer trends next.
Important Real Estate Consumer Trends for Homebuilder Marketing
One of the benefits of our platform is that we have data covering more than 10,000 attributes for 124M US households. There is simply no other company with this level of insight and data about US movers. We know if they own property, their financial health, and even if they’re likely to move. (And yes, as a real estate analytics platform customer, you get access to this data to deliver consumer insights about the people who are actually engaging with your marketing.)
With this data, we can provide powerful US housing market data. Here are a few insights John shared in his presentation.
Housing Markets Insights
Based on our specialty with real estate audiences, we observe two distinct housing markets for renters and buyers: Market Rate and Upscale.
For almost 60% of homeowners, Market Rate reflects home prices within the national average that also rely on mortgages for ownership. With 42% of homeowners, the Upscale market does not require financing and generally owns homes worth over $1M.
The implications are clear: a one-size-fits-all approach won't cut it. Understanding these segments is vital, especially in a scenario where housing is expensive, rates are high, and the inventory is limited.
Who Is Your Luxury Urban Audience?
This population, currently residing in $3 million-plus homes, demonstrates a unique mobility, often buying with cash and selling to cash buyers. Their ability to navigate the market with ease sets them apart, emphasizing the contrast between market rate movers and their upscale counterparts.
While this audience has significant buying power, they can also be more demanding from a marketing standpoint. Thorough knowledge of their lifestyle and habits is critical to closing any deal. We're here to help with your luxury real estate marketing plans. For example, here's a quick look at the luxury audience in Dallas:
Become a Luxury Audience Expert
Your luxury audience is likely to be:
- Under 55
- C-Suite Management
- Higher Income and Cost of Living Range
- Have Kids
- Owns Their Own Business
- Looking for 2nd Home
Enhance your luxury audience persona with key insights:
- 2x more likely to be in Finance, Engineering/Software, Healthcare
- 2.39x more likely to be C-Suite/Management
- 2x more likely to have a professional, masters, doctorate degree or higher
- 1.6x more likely to own Audi or BMW
- 1.5x more likely to choose Tesla
- Regularly enjoy international travel
- Interests include working out, yachting, and outdoor sports like skiing, tennis, golf, etc.
Knowing the luxury audience, we can predict other real estate behaviors:
- 40% more likely to buy another home (second, third, vacation, investment)
- 2x more likely to sell their home in the next 12 months
Audience Town equips your team with the tools needed to create detailed profiles for your target customers on their home journey. We offer user-friendly analytics for real estate professionals looking to understand key target audiences, implement strategic marketing plans, and continually improve performance measurements. Our platform delivers unprecedented consumer-centric insights, setting a new standard in data granularity. Get a demo today.
Do You Know Where Your Leads Really Come From?
As you grow and engage with your audience, don’t let prospect attribution get lost in the churn. It's essential to know where your best leads are coming from, so you can attract more of them! For example, make sure to look at:
- Marketing Chanels: Google, Facebook, Ads
- Lead Sources: BDX, Zillow, Realtor, Walk-ins
- Engagement: On- and offline
With Audience Town, top real estate leaders, including homebuilders, can see where their best and most qualified traffic is coming from. And that's just the tip of the iceberg. Out actionable insights empower you to implement data-driven strategies that reduce the risk of costly targeting errors and ad spend while driving ROI, engagement, and lead attribution. Get clarity, build confidence, and score big wins for your organization.
Get percentage breakdowns for:
- Listing sites
- Paid search
- Paid social
- Traditional signs and billboards
Better data lets you make smarter business decisions. To become an expert and key driver of home sales in your organization, identify your greatest needs for making the most impact.
Look into:
- Optimizing your CPL per channel
- Eliminating ad spend to non-viable audiences
- Upgrading your website
Drive Sales Like an Industry Leader
Real estate marketing is shifting away from gut feelings to embracing a more data-driven approach. While other industries are pushing ahead with consumer intelligence platforms, real estate has enormous potential to follow suit. Top developers and home builders are now integrating these tools into their marketing strategies.
Most consumer analytics platforms like Google Analytics don’t possess a deep understanding, specific to real estate audiences and marketing teams. As the only marketing analytics platform for real estate, Audience Town provides granular insights into buyer segments like urban luxury audiences, demographics, and locations.
Leading homebuilders use data-driven approaches to enhance their marketing strategies, execution, and attribution. Our platform provides consumer intelligence - and so much more - that helps save time and money, keeping you out of trouble and avoiding costly mistakes, while improving your ROI, reducing ad spend, and driving sales like never before. Where Google Analytics falls short in real estate, Audience Town delivers actionable customer analysis for data-driven marketing wins.
And don't forget to download John's presentation to get an even deeper dive into insights about the real estate market!
