Email & Real Estate


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  • Email & Real Estate

    1. 1. RP Data Email & Real Estate David Smerdon Head of Strategy - Vision 6
    2. 2. Agenda <ul><li>30 seconds on Vision 6 </li></ul><ul><li>Why consider email? </li></ul><ul><li>Why direct makes sense? </li></ul><ul><li>The age of accountability </li></ul><ul><li>Email stats </li></ul><ul><li>Is your business in e-denial? </li></ul><ul><li>Design, construction and deliverability – 5 best practice tips </li></ul><ul><li>Transactional emails </li></ul><ul><li>3 list growth tips </li></ul><ul><li>Spam compliance </li></ul><ul><li>3 ideas for the Real Estate Industry </li></ul>
    3. 3. 30 seconds on Vision 6: <ul><ul><li>We provide an online hosted eMarketing platform called VeMail </li></ul></ul><ul><ul><li>Australia’s leading email marketing software & services provider </li></ul></ul><ul><ul><li>6,500+ business users of our technology </li></ul></ul><ul><ul><li>Founded in 2001 with a current team of 28 based in Brisbane </li></ul></ul><ul><ul><li>IBM, Stella Resorts, RACQ, Lonely Planet, Dick Smith </li></ul></ul><ul><ul><li>Host over 150 million contact records </li></ul></ul><ul><ul><li>We sent over 45 million emails last month </li></ul></ul>
    4. 4. Why consider email?
    5. 5. Campaign Finishes Customer contact is broken with no details captured The prospect or customer is gone without a trace…
    6. 6. Speed to market Why email?
    7. 7. Tailored one to one communications that can inspire action - one click away from a sale
    8. 8. More relevant dialog more often = deeper customer relationships and a more profitable, loyal customer base
    9. 9. Cost Sending 5,000 emails per month; Access fee $50.00 Email send costs $100.00 $150.00 per month Monthly access fees Total Records Monthly Fee 0 - 1,000 $30 1,001 - 5,000 $50 5,001 - 15,000 $90 15,001 - 50,000 $150 50,001 - 500,000 $220 Cost per email Number of Emails Cost per Email 1 - 200 4 cents 201 - 2,000 3 cents 2,001 – 10,000 2 cents > 10,000 1 cent
    10. 10. <ul><li>Your Message </li></ul>Why direct makes sense? Gatekeepers State newspapers Local newspapers Letter box drops Online i.e. Intended recipient
    11. 11. Why direct makes sense “ Myer will this year spend more on direct marketing to its Myer One customers than all of its other advertising put together, according to Chief Executive Bernie Brookes”
    12. 12. Will maintaining a relationship with existing customers help or hinder your business into the future? Word of mouth will always be one of your most cost effective tools. Positive word of mouth propagates leads and email keeps you front of mind…
    13. 13. We’re in a time of microscopic accountability “ I know at least half of my advertising is wasted I just don’t know which half” Henry Ford
    14. 18. Email stats Vision 6 Email Metrics Report July – December 2008 (based on 182 million messages from 186,000 campaigns) <ul><li>Average open rates 22.5% </li></ul><ul><li>Open rates Real Estate Industry 28.3% </li></ul><ul><li>Average click through rate 4.8% </li></ul><ul><li>Click through rate Real Estate Industry 4.9% </li></ul><ul><li>Bounce rate 8.9% </li></ul><ul><li>Bounce rate Real Estate Industry 6.2% </li></ul><ul><li>Hotmail represents 24.9% of all email recipients </li></ul><ul><li>Highest volume of emails sent are on a Friday 20.6% </li></ul><ul><li>Highest open rate is Sunday 32.2% </li></ul><ul><li>Time taken to open an email </li></ul><ul><ul><li>21.6% in the first hour </li></ul></ul><ul><ul><li>73.1% in the first 24 hours </li></ul></ul><ul><ul><li>92.7% in the first 5 days </li></ul></ul>
    15. 19. Is your business in e-denial?
    16. 20. Design, construction and deliverability 5 best practice tips
    17. 21. <ul><li>1. Keep email width to 550px – 650px. This will display emails without horizontal scrolls on most standard screen resolutions with vertical preview panes. </li></ul>Width 550px fits in vertical preview pane without horizontal scrollbars
    18. 22. Width over 650px. Recipient has to scroll left to write to read the email
    19. 23. <ul><li>2. Avoid scripts, video, flash in emails. Direct users to landing pages + have a plain text version </li></ul>
    20. 24. <ul><li>3. Include call to action within first 400px </li></ul>
    21. 25. <ul><li>4. Avoid background images as some email clients such as Outlook 2007, Hotmail, Gmail & Lotus Notes ignore body background images </li></ul>Email width over 650px. Recipient has to scroll left horizontally to read the email
    22. 26. <ul><ul><li>5. Make sure the message is understandable in an images ‘switched off’ environment. </li></ul></ul>
    23. 27. Images switched off Images switched on
    24. 28. Transactional emails Often a missed opportunity
    25. 29. Transactional emails can give you permission to converse <ul><li>What are they? </li></ul><ul><li>Any communication that forms part of the sales process i.e. confirmation email for subscribing to a weekly newsletter, receipt email from a deposit, outline of critical dates i.e. building and pest due by x date, settlement etc </li></ul><ul><li>Transactional emails get through more spam filters because they consist of important customer information </li></ul>
    26. 30. My trip to the coast…
    27. 31. “ Transactional email offers the highest open and click-through rates of any type of email – 70% open rate for transactional email v 33% for opt in email” ¹ “ Less than 1% of email marketing funds industry wide are spent on transactional emails” ² Source: 1. Harte-Hanks metrics, 2005 2. JupiterReasearch, “E-mail Model” November 2005
    28. 32. Advertising is working hard to get new leads But the conversion engine is letting the team down…
    29. 34. Apple's iTunes Transactional e-mail receipts contain three &quot;if you liked this, you'll also like&quot; recommendations, an approach that turns a cost center into a profit center Clickz 5 th October 2007
    30. 35. 3 list growth strategies
    31. 36. 1. Best practice enews registration 1. Website registration 2. Registration web form 3. Thank you page 4. Confirmation email 5. Confirmation page 6. First eNewsletter
    32. 37. 2. Phone / in-office registration
    33. 38. 3. Audit existing assets
    34. 39. Spam compliance
    35. 40. The Spam Act 2003 Three key conditions <ul><li>Consent (express or inferred); </li></ul><ul><li>Identify ; and </li></ul><ul><li>Unsubscribe </li></ul>For all commercial electronic messages: Julia Cornwell McKean Manager, Anti-Spam Team
    36. 41. Consent <ul><li>1. Consent </li></ul><ul><ul><ul><li>Express consent: </li></ul></ul></ul><ul><ul><ul><li>Completes an online form and ticks a box </li></ul></ul></ul><ul><ul><ul><li>Fills in a hard copy registration form and requests commercial information </li></ul></ul></ul><ul><ul><ul><li>Hands over business card and verbally requests information </li></ul></ul></ul><ul><li>Inferred consent: </li></ul><ul><ul><ul><li>Easily visible publication of ‘work related email address’; e.g. on a website, trade magazine, newspaper </li></ul></ul></ul><ul><ul><ul><li>Long standing customer, good business relationship; a once off purchase or use of service is generally not enough </li></ul></ul></ul><ul><ul><ul><li>Keep good records </li></ul></ul></ul><ul><ul><ul><li>Silence does not mean consent </li></ul></ul></ul>
    37. 42. <ul><li>2. Identify </li></ul><ul><ul><ul><li>Must identify the body that authorised sending of message </li></ul></ul></ul><ul><ul><ul><li>Sender information must be reasonably likely to remain accurate for 30 days </li></ul></ul></ul>Identify
    38. 43. <ul><li>3. Unsubscribe </li></ul><ul><ul><ul><li>Must be functional, simple to use, low or no cost. Automatic link within email or return email with unsubscribe request </li></ul></ul></ul><ul><ul><ul><li>Must be honoured within five working days </li></ul></ul></ul>Unsubscribe
    39. 44. A common sense take <ul><li>Just because it’s legal doesn't make it right </li></ul><ul><li>Spam is; Any email the recipient doesn’t want, even opted in email </li></ul><ul><li>Having ‘unemotionally subscribed’ contacts in your database isn’t good for either party </li></ul>
    40. 45. Ideas for the real estate industry 1. Lifecycle Marketing <ul><li>Lifecycle Marketing is the evolution of the broadcast email </li></ul><ul><li>Moving from one list to segmented lists to deliver the right message to the right person at the right </li></ul><ul><li>Basic Lifecycle Marketing can be as simple as; </li></ul><ul><ul><li>An SMS when your dry cleaning is ready </li></ul></ul><ul><ul><li>Email reminder of your dentist check-up </li></ul></ul><ul><ul><li>Email receipt or thank you for your purchase </li></ul></ul>
    41. 46. Lifecycle marketing, conditional content and geo-targeting Header Footer Standard introduction Conditional content based on area of interest Property listings Open houses
    42. 47. Ideas for the real estate industry 2. Automated triggers <ul><li>If a prospect sends you an email about a particular property on your website </li></ul><ul><ul><li>The prospect receives an instant automated email designed in the agencies branding with further details about the property (additional images etc) and a personalised message </li></ul></ul><ul><ul><li>At the same time an automated email and SMS notification is sent to the relevant sales people </li></ul></ul><ul><ul><li>Additional ideas: Congratulations email on settlement, dining voucher in the local area, key dates branded email, local area buying / selling resources (building and pest etc)… </li></ul></ul>
    43. 48. Ideas for the real estate industry 3. Signs on steroids <ul><li>Virtual SMS for real estate signs </li></ul><ul><ul><li>“ Text your email address to 04… to receive full details about this property” </li></ul></ul><ul><ul><li>Also triggers an email and SMS to the agent to follow-up </li></ul></ul>
    44. 49. Questions? Contact: David Smerdon [email_address] Ph. 07 3123 5005