There are over 3.8 billion email users worldwide today. And Gmail alone has over 1 billion active users worldwide (Statista,2016). MarketingSherpa, a reputable marketing resaech company reported that, 91% of Americans want companies they do business with to send them emails. This statistics presents a big money making opportunity for you. As a Real Estate Agent who wants to make it big, what are you doing to take advantage of this revealing data?
Email marketing is a great cost-effective way to build relationship with your prospect that will drive business success. In today’s challenging economic times, this cost advantage makes email marketing arguably the most powerful tool for building your real estate business.
The main advantage of email marketing is not just the low cost of running it. Email is simply the most effective way to stay in touch with your customers in real time, educating, entertaining and selling to them.
With email marketing your marketing efforts becomes faster, more relevant, less expensive, and more valuable. That’s why you should take advantage of this marketing tool and begin to grow your business now.
The Goal of Email Marketing
The goal of email marketing is primarily Relationship – relationship marketing. Most real estate agents approach their customers and prospects more like a one-night stand affair than a long-term relationship. This is not a good way to approach your real estate business.
Hear what Tom Stevenson has to say, “Those organizations that make it a top priority to create deep relationships with their customers have a distinct advantage in their competitive marketplaces”
The primary goal of marketing should not be just customer acquisition. It is not just for higher and quick turnover or a campaign to sell more real estate. It is first of all a relationship. If you focus on the relationship, all of the other goodies will also follow.
Take the time to get to know and treat your customers as individuals. Pay attention to them. Communicate with them like human beings, let them know and feel you as a human being rather than an institution. The goal should not be based on “hits,”. The goal needs to be something that really drives your business. The goal is to build long-term relationships that result to lifetime value.
You can build great relationship with all your prospects by treating them in a way that makes them feel appreciated, unique, and valued through emails. You should reveal your true self and your expertise to them. They want to know you and do business with you. People do business with people not with institutions.
Great relationships are the gateway to maximizing customer lifetime value. This should be the main goal of marketing generally. I am taking time to emphasis this so that we will begin this email marketing series for you as a real estate agent on a good platform and the right mindset and motive.
Benefits of Email Marketing to Real Estate Agents
- Easy to use: Anyone can do email marketing. It is the easiest of all forms of marketing. It may seem difficult if you don’t have knowledge but that’s why i am here. I will put you through. If you have sent an email before then you can do it.
- Frees up your time: The life of a realtor is a busy one. Every day you have clients to manage, settlements to attend to, house tours to make, family to attend to and maybe other personal issues. If you go for email marketing you can free up time for other pressing needs without anyone of your duties and responsibilities suffering.
- You own your list: I will teach you in the 3rd set of these series, how to grow your email list fast. And once that is done you have it as your own list and have full control of it. You don’t have anyone anywhere to disturb or unduely influence your marketing efforts. You’re simply in charge here unlike social media marketing where the site owners or managers can influence how far you can do.
- Email marketing is inexpensive: There is no marketing medium that is less expensive than email. Just make an enquiry on the cost of advertising in Print, television, telephone etc and see for yourself. It can range from a few dollars per touch to several thousands or even millions.
The price of an email can be as inexpensive as a penny or less. This means that real estate agents of any size can afford it. For a small real estate agency, email is a great equalizer. You don’t need a huge budget. To be successful with email marketing, all you need is desire and the right information.
- Email Is Interactive: This is the real magic of email. Interaction. You can track your emails. You can see exactly where an individual clicks within an email and also which links are ignored. This means you can measure the overall interaction with your message. You can integrate the email with other systems in order to measure actual behavior (purchases, etc). This is equivalent to listening in the interactive world.
When was the last time you were able to talk back to a commercial and have your voice heard? But with email this is very possible. Just hit the reply button. You can decide to take email interaction to the next level by even adding forms and surveys.
- It’s what people want: Do you know that 86% of consumers prefer to receive promotional emails from companies they do business with at least monthly, and 15% prefer them daily (Statista, 2015)? Are you aware that 91 percent of US adults like to receive promotional emails from companies they do business with (MarketingSherpa, 2015)? This is for sure the most prefered way your prospects want to be interected with and marketed to, so why not do it?
- It has proven ROI: According to Direct Marketing Association, email marketing delivers a whooping return of 4,300. According to Econsultancy, three-quarters of companies agree that email offers “excellent” to “good” ROI. And according to Hubspot, 40% of marketers say proving the ROI of their marketing activities is their top marketing challenge and 72% of organizations that calculate ROI say their marketing strategy is effective. Email marketing is an easy way to market, monitor and easily calculate your ROI. This marketing strategy is simply effective and reliable.
- Reach customers in real-time: Your customers get your message as soon as you click the send button. You need not wait a minute. Your message get straight to them and wait for them to read and digest. You reach your prospects on-the-go, in real-time because according to Litmus, 54% of all emails are opened on a mobile devices.
- Targeted Messaging: Your list are those who on their own volition hopped unto your list by giving you their details and permitting you to send them Newsletters, Updates etc. You are marketing directly to those who need what you have to offer, who are already eager about what you have to sell to them.
- Email converts: It’s easier to buy from someone you already have a relationship with. You can develop trust and build a solid relationship with your list. The relationship they already have with you makes them think of you first whenever they need what you sell.
- It’s measurable: Email marketing is easy to measure, you can determine the ways in which your email efforts are impacting your business by reviewing information such as open rates, click rates, traffic to your website and more. You may not be able to do this with other available forms of marketing.
Most email marketing tools offer the ability to track what happens after you have sent out your email campaign. You can track delivery rate, bounce rates, unsubscribe rates, click through rates, and open rates.
In summary, email is easy to use, inexpensive, interactive and data driven. This is really a powerful marketing tool that makes great relationship building possible. I believe you won’t want to miss out trying it out.
Email marketing is a powerful marketing tool, but it also can be a challenge because the inbox can be a hostile environment.
Whether the emails you send are noteworthy or not-worthy absolutely depends on your ability to play by the rules of relationship building with your customers via email. That is why i’m doing this series. Watchout for the next post – How to Setup your Real Estate Marketing Campaign.