To provide additional information on e-mail marketing, industry standards, and best practices.
As an added value to assist our agents in their marketing, we provide contact information to reach out to the leads within licensed territories. We purchase this contact information from the top sources for contact information and even provide a tool to help fill in the gaps of contact information if necessary. In this article, we will specifically be covering purchased e-mail addresses and what to expect.
It is industry standard for any data provider dealing in e-mail addresses to have around a 20 - 30% bounce rate, meaning that 20 - 30% of the e-mail addresses provided will not connect. We find this to be true for our providers as well, hovering around 15 - 25%. Any e-mail address that bounces will automatically be removed from our system, and if there are alternate e-mail addresses, we will use that e-mail address for marketing instead.
Your e-mail open and click through rates will also be lower from a purchased list, with the average open rate for a purchased list being around 10 - 15% with a click through rate of around 1.5%.
What are some ways to boost your e-mail campaign effectiveness when using a purchased list?
- Take a personalized approach - if it's from your own private company e-mail address, it's more likely to get opened. The title should also be eye catching, clear with the message, and not soliciting. The first e-mail should be as if you're beginning a conversation with the person.
- Keep the body short - only one or two short paragraphs at max. Click through rates drop severely after the second paragraph. People have short attention spans. Keep this in mind!
- Do not over send - keep the amount of e-mails to around two for every 15 days. Nothing will get you unsubscribed and reported faster than over-marketing an e-mail address, even if you do know them!
All that being said, it would be improper for us not to mention the best way to e-mail market - having the lead opt in. When a person provides their e-mail address and knowingly signs up for your marketing, they're almost twice as likely to open and interact with an e-mail than from a purchased list. There are several ways to get a person signed up for your e-mails.
- After having a good conversation and gauging their interest in the real estate market, ask them for the address in parting.
- Have an online lead capture site that has some additional value, such as a home evaluation tool.
- On your home page, have a pop up that allows them to subscribe to your real estate and local newsletter.
E-mail marketing, if used correctly, can be an extremely cost effective and efficient tool to stay top of mind and massively increase the amount of traction you have in your market! If you need any additional assistance with marketing best practices, let us know and we're more than happy to give you a hand.
Thank you for reading this article. We hope we were able to help!
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