Data-driven decision management is the business practice of backing actions with verifiable data. Recent technological developments have allowed professionals to mine data with little to no information technology knowledge. Data can help large and small businesses make educated decisions based on credible insights into their business’s performance. Ever wonder how online leads made it from sites like Trulia, Zillow, or Facebook to your website? Or what types of blog articles seller leads are most likely to click on? Data opens removes the veil on your entire company’s performance.
Big data isn’t just for big name brands, here's how your real estate brokerage can benefit:
Data Can Answer Questions
Focus on metrics that will answer your questions. For example, if you want to measure social engagement, extract analytics on each of your social media platforms. Facebook, Twitter, Pinterest, and Instagram all have analytics dashboards for business profiles (it’s important to measure what content buyer and seller leads value most!).
Data Can Predict Performance
Big data can connect trends between local and national real estate trends, in addition to a single company’s performance. Agents can leverage data from their MLS boards to create marketing pieces on local markets.
Data Can Improve Internal Operations
There are countless software companies out there that offer solutions to otherwise time consuming office duties. Programs like Zurple send instant text message and email replies to online leads by analyzing data from their online search history. Also, be efficient by streamlining your data extraction. It’s important your team members know how to use your office’s CRM, website’s back office, and other platforms.
It Can Help You Understand Your Customers
It’s impossible to receive insights into each of your customer’s experiences without analytics. Whether you like it or not, a lot of the companies you are a customer of have a lot of data on you. Have you ever shopped online for an item, then later saw that same item in an advertisement somewhere on your web page browser? While big data can feel intrusive, it also can prove helpful. Have you ever forgotten about an item shopping online, but only found the item saved to your online shopping cart? Real Estate agents can also use data to understand their online leads.
44% of home buyers start their home search online, before meeting with an agent, according to a 2016 NAR study. Forward thinking agents are taking the time to understand online leads so that they have a higher likelihood of closing them.
Zurple tracks online lead’s search history, from previous homes and neighborhoods viewed. We send leads personalized email and text messages on your behalf. Each message references specific properties and neighborhoods a lead viewed online. These messages not only nurture leads, but also educate you (the agent) on your leads’ preferences.