REVEALED: How to measure the effectiveness of digital marketing

Digital marketing encompasses a wide range of strategies, including email campaigns, social media marketing, and websites. But to ensure estate agents can gauge the true impact of their efforts, it is essential to track specific metrics that provide insights into the performance of their digital strategies.

Here are a few recommended key metrics that estate agents should focus on to determine whether their investment into their digital campaigns is paying dividends.

WEBSITE TRAFFIC

Website traffic serves as a top-of-the-funnel metric and an initial indicator of a digital marketing strategy’s success.

By analysing the number of visits by channels or traffic sources such as social media, Google search, and direct traffic, estate agents can understand the potential for lead generation and subsequent sales.

Website traffic is essential because website visits lay the foundation for successful lead generation. The more visits to your website, the more potential leads, which in turn, will result in more potential sales. Understanding where your traffic comes from empowers estate agents to optimise their marketing channels for maximum impact.

LEAD GENERATION

Lead generation stands out as one of the most crucial aspects of digital marketing for estate agents. Collecting contact information from website visitors allows agents to nurture leads effectively, increasing the likelihood of converting them into customers. Timely responses to inquiries are vital to maintaining engagement and preventing potential leads from slipping away.

CONVERSION RATES

Measuring conversion rates is paramount for estate agents, providing insights into which webpages are most effective in generating leads. By calculating lead conversion rates, agents can understand the percentage of visitors successfully converted into leads, enabling a clear assessment of digital efforts.

Conversion rates are a window into the effectiveness of your digital marketing strategy. It allows you to pinpoint areas for improvement and optimise marketing channels for better outcomes.

COST PER LEAD

For estate agents investing in advertising, calculating the Cost Per Lead (CPL) is crucial for evaluating the return on investment. By dividing marketing costs by total leads, agents can determine the CPL, ensuring that their spending aligns with the value of acquired leads. Tracking CPL is essential to identify the most cost-effective marketing efforts.

EXIT PAGES

Analysing exit pages provides valuable insights into user experience and identifies areas where website visitors lose interest. Identifying and optimising pages with high exit rates is essential for maintaining engagement and preventing potential customers from abandoning the site.

Tracking the right metrics is mandatory for measuring digital marketing success. The key metrics mentioned provide a comprehensive overview of the overall health of digital marketing efforts, enabling estate agents to build cost-efficient and effective strategies.

Ben Sellers (main picture) is Co- Founder of Starberry, part of the nurtur.group