What is a marketing funnel?
It is a simple way to breakdown a customer journey into typical stages. Customer journeys online are not that straightforward as they were before.
Google Ads – Website – Contact – Sign
Google on Mobile – Google on Desktop – Visit 3 Websites – Checked Social Media on mobile – Read on Desktop – Read Google Reviews – Sign (List can be longer)
Users go through certain steps that can be grouped in the marketing funnel stages.
It is essential to distinguish real estate marketing funnel stages in order to understand your audience and correctly address their needs.
Nowadays people have a lot of information sources at the tip of their fingers so they take time researching and educating themselves before committing to something.
On the funnel below you can see that from the 100% people who are aware of you only 2-5% become your customers.
Real Estate Funnel
For example, a furniture marketing funnel would be on average one or two weeks long. It takes up to 14 days for people to go through awareness to action.
In contrast to furniture Real Estate funnel on average is 4-6 months long.
When you calculate your own funnel it will be clear where are you losing your potential customers.
It will help to answer these questions:
- Which stage am I losing most people?
- Do I produce the right content?
- Do I capture the right audience?
- Where should I allocate more budget/efforts?
Suggestion: Since the funnel for the Real Estate industry is very long, try to plan your marketing activities well in advance.
Note: Not necessary people will go through all the stages of the funnel or/and do it in sequential order. Some people can give you a call or submit a form right away from Paid Ads or after visiting your website for the first time, but the quality of these leads will be lower.
Tips to Improve Your Real Estate Funnel:
- When you create Paid Ads, think of the funnel stages. Is it awareness or interest stages? Your message should be different for each stage of the funnel.
- How do you introduce yourself at the awareness stage and what people see first on your website?
- How do you make them interested in your services? (think of property sold ads)
- Desire – come up with a good call to action. EX: “Free home evaluation”
- Measure every stage of your funnel and adjust your efforts accordingly (Use Google Analytics)
- Ideally, we want to prepare our potential customers before we contact them in person or over the phone. We show credibility online and then close them offline. Create as much content as possible
- Every marketing stage can be promoted through different platforms
- Be consistent with your branding (colours, font, main theme) But tailor the message for each stage individually