Marketing

Why building an email list is best possible advertising investment

Email is far more effective than Facebook or Twitter

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Takeaways:

  • Email marketing is one of the most important arms of any digital strategy.
  • Email’s organic reach beats that of Facebook and Twitter.
  • Email’s click-thru rate is better than Facebook’s and Twitter’s.

Email marketing is one of the most important arms of any digital marketing strategy. Neglect email marketing and you are doomed to fail.

Despite the hype of social media, email marketing is still far ahead of both Facebook and Twitter in terms of reach and click-thru rates.

According to amyhall.biz infographics, here is a screenshot of email marketing view rate versus Facebook and Twitter.

view rate

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In the infographic above, email marketing is clearly far above social networks in terms of view rate.

Now let’s compare their click-thru rate (CTR):

click rate

In the picture above, email marketing click-thru rate is 3.2 percent higher than Facebook and Twitter combined.

Facebook vs. Twitter versus email marketing comparison

comparison

 

comparison 3

The key to a successful email marketing campaign starts with first building an email list. An email list is a gold mine — that is why some agents pay handsomely to purchase one.

Email marketing success rate is heavily dependent on how good you are in building your email list. You can build an email list, or you can buy them from one of the vendors that sell real estate leads.

There are two types of email lists:

1. Contact list building

This type of email list is the most difficult to generate because it requires the prospect to give out more information about themselves — email address, phone number or contact address.

Although it’s more difficult to generate, it converts easily because those who are willing to give out more information about themselves are more eager and willing to buy.

A good example of this type of email contact list building is free consultation forms or request viewing forms.

2. Email list building

This type of email list building requires the prospects give out only their email addresses. Although it’s not as hot as contact list building, it generates the highest amount of leads.

A good example of this type of email list building is newsletter subscription and blog opt-in subscription.

How do you build your email list?   

Building an email list involves devising a lead bait strategy whereby prospects will exchange their contact details for something that is valuable to them.

It’s more like give and take (trade by barter). Let’s face it, no one will ever give you their contact details if they don’t need what you are offering.

Effective lead bait strategies

  1. Free real estate consultation
  2. Webinar with Q&A section
  3. Offering a free buying or selling online course
  4. Offering free buying or selling e-book
  5. Industry report
  6. Case study
  7. Save listings/request showing
  8. Newsletter/blog subscription

Why building email list is crucial for agents

1. To nurture your leads through the sales circle

Getting the email contacts of your prospect will enable you to nurture, educate and engage your leads through the sales circle.

2. To be on the minds of your prospects

The average buying time of a potential buyer is between three and six months. Getting your prospects’ email address for nurturing will enable you to be in their minds until they are finally ready to buy.

Which real estate lead bait strategy are you currently using to build your email contact list? Let me know in the comments.

Ibemere Obinna is a Realtor and an Internet marketing expert. He blogs about real estate Internet marketing and SEO on his blog, Realtor Guide.

Email Ibemere Obinna.