You’ve created targeted messages along with relevant and attractive calls to action. You’ve started reaching out to clients via eBlasts and have a solid commercial real estate strategy in place. Now all that’s left to do is wait for the clients to start flowing in, right? Wrong!
While that’s definitely the end goal you want to focus on, there’s more to it than just sitting around and waiting for success to happen. How do you know that your commercial real estate email blasts are performing well or not? Your eBlasts are getting opened and the engagement is strong. You are seeing an uptick in clients and both are good metrics to track, but there is a lot of real data out there that you can use to measure your success.
Knowing how to measure the success of email blasts is crucial to the overall success of your marketing campaign. Let’s take a look at some of the real data points you can use to track performance.
Conversions are often the most visible and talked about number when it comes to measuring the success of a marketing campaign. Simply put, the conversion rate is the number of clients you emailed who completed your call to action, whether that be clicking to download an Offering Memorandum or Marketing Package on a specific property, navigating to other properties on your site to obtain more information, or writing an offer on a particular property you are marketing.
Success Depends On: The success and level of conversions are often dependent on many of the other metrics listed below. If those don’t perform well, it’s likely that conversion rate won’t perform well, either. Conversion rate can also rely on the quality of the content and relevancy of the call to action you have in your eBlast.
Number of Opens
Opens tell you the total number of recipients who have opened your eBlast. This metric is important to track because it gives you a frame of reference for how well your campaign is working and helps you identify exactly where you can improve. If only a small number of customers opened your email but each one of them converted, you know your actual eBlast is good, but you need to get more people to open. This could mean a better subject line, property content or email design.
On a large database like ours, you should aim for around a 4-9% open rate. If you are targeting your own database or much smaller sets of data, the open rate is generally higher.
Success Depends On: The success of your open rate depends largely on not appearing to be spam. Look at the sender name and your email subject line. If these look suspicious or unfamiliar, many recipients will ignore the eBlast entirely or mark them as spam.
Number of Clicks
Clicks tell you how many potential clients are clicking a link in your eBlast. Getting them to click that link is often one of the most important aspects of your email marketing strategy, so this is an important metric to measure.
Success Depends On: The success of your click through rate depends largely on the subject line of your email and how the sender name appears for the recipients on your list. You can present value directly in your subject line. Ultimately, your subject line should give your potential client a reason to open the email.
What You Can Do
Starting and running a successful eBlast marketing campaign can be intimidating, especially when there are so many metrics to track. If you don’t know where to start and you want someone to help, sign up with our Email Blast service. We not only help you create and schedule your eBlast, but we also help you track the results so you know where to improve in future campaigns.