Turn Web Leads into Buyers #3: Behavior Tracking
Email open rates and click through rates are good indicators of a successful email program. But identifying which person on your email list is most likely to buy a home this weekend can feel like searching for a needle in a haystack. Open rates and click through rates only tell part of the story. The true measure of email success is signed contracts. So what is the direct link between click through rates and contracts?
The answer is behavior tracking.
In part one of the “Turn Web Leads into Buyers” series we talked about the power of personalizing your message. In part two we reviewed how optimizing the performance of your email marketing campaigns with A/B testing can improve results.
By now you may be asking, “But what about sales person follow up?”
Behavior tracking is the process of gathering data from your email service provider and translating it into actionable insights for your sales team. It’s a tool that connects online marketing to on-site appointments. Behavior tracking is most effective when used in conjunction with a consistent, bi-weekly email newsletter or RSS-to-Email campaign.
Here are four actionable insights of home builder email marketing and how to use them to convert more web leads to appointments.
Who Are My Most Engaged Prospects?
If you have a large email list, a small team, or both it can be a challenge to maintain high quality relationships with each one of your prospective buyers. Using data from your email campaigns, prioritize your follow up based on which prospective buyers are most engaged with your email marketing.
Potential buyers indicate a higher level of engagement when they:
- Open every email that you send
- Click on multiple links within the email
- Click through to your website and view several pages
- Open your email repeatedly, even days or weeks after it is originally sent
Prioritize sales team follow up based on these buyer behaviors, even if they are not on your sales team’s radar as an “A” prospect.
What Stage of the Buying Process Are They In?
Want to know what percentage of your email list is just starting to look for a new home and how many are ready to buy now? An email newsletter that includes topics that are appropriate for each stage of the buying cycle can provide valuable insight.
For example, let’s say that you are a home builder with 10 new home communities throughout the Dallas area. Your email newsletter can include links to four recent blog topics such as:
- Special Pricing on Move-in Ready Homes This Weekend Only
- Found Your Dream Home? Download a Free 10-Point Buyer’s Checklist
- Which Floor Plan is Right for You? See 10 of Our Most Popular Plans
- New Homes in Dallas: A Neighborhood-by-Neighborhood Guide
Buyers that do not plan to buy a home for six months will be less interested in special pricing on move-in ready homes this weekend. If a potential buyer has already narrowed down their search to a few new home communities within a specific neighborhood, they probably will not click on a link to read a neighborhood-by-neighborhood review of the entire region.
Use this data to identify potential buyers on your email list that may be purchasing a home in the next 30 days. Focus follow up efforts on these buyers and ask for the appointment.
How Can I Bring Added Value?
In part one of the Turn Web Leads into Buyers series we talked about personalizing your email marketing messages with audience segmentation. Using the same principle, you can create follow up emails that provide additional information to move buyers to the next stage of the buying cycle.
Here’s how it works:
- You send an email with four topics. One of the topics includes a call-to-action for prospective buyers to schedule an appointment with your preferred lender to get pre-qualified.
- 50 people on your list click on the link about financing.
- Of these, only 3 take the desired action (schedule an appointment with your preferred lender).
- You send a personal follow up email to the remaining 47 prospective buyers with a message such as, “15 Benefits of Getting Pre-Qualified Before Your Find Your Dream Home.”
Look for opportunities to increase the effectiveness of each email campaign with targeted follow up emails that give prospective buyers the additional information they need to move to the next step.
Behavior tracking provides a road map for sales and marketing teams to work together, especially when used with a good Customer Relationship Management (CRM) tool. Review email data with your sales and marketing teams on a regular basis for a low cost way to turn your list of web leads into home owners.
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Want a smarter solution for your email marketing? Find out more about our email marketing services for home builders and developers.