A Brutally Honest Case Study
For a weeks I have been searching high and low, attending webinars and a two day marketing conference, scouring through forums, spending countless hours on the phone with vendors, and countless more Googling everything and anything I could think of to reinvent my site that targets San Diego real estate. Finally it occurred to me that I have access here on Geek Estate Blog to the best and brightest minds, and that we could use my San Diego MLS site as a case study of what to do, not to do, and how to improve. Here it goes….
Objectives:
- To improve the experience buyers and sellers have on my website with something much more powerful and compelling. I will measure this using the bounce rate, which is currently at 71%.
- To improve my conversion rate to sale. I am currently at just over 1%.
- To implement a state of the art lead management and drip email system to better manage my buyer agents and hold them accountable.
- To reduce my current cost per lead of PPC campaigns with a high converting site and IDX solution. I am currently roughly at 9% on paid traffic. I do not have the data for organic traffic.
Current Assesment and Possible Solutions:
Website Front End:
- This is what clearly needs the most work. On the home page the first thing that I think needs to be done is to take the main space just under the nav bar that is currently hosting my latest blog post and turn that entire space into a nicely designed quick search form to search listings. This on it’s own should create considerably more lead conversions. The main blog post would then be relocated under the popular neighborhood search area.
- I think I need to remove the big orange “find a home” button in the header and replace it with my team’s phone number for easy reference.
- I also need to remove the quick post section on the home page given that I have not tweeted anything in about a year.
- IDX – I am thinking of making a change. What is the highest converting, most user friendly, system out there right now? As a bonus, it would be great for it to also be an index-able IDX. I am currently considering staying with Diverse Solutions or switching over to Real Geeks or REW. Am I missing any good options? I am even open to a custom IDX if you have any good suggestions.
- What else needs to be done in your view? I am sure I am missing something….
Lead Management and CRM:
As you know, finding a strong real estate specific CRM is a challenge. I am currently just working off the Diverse Solutions back end system. While it has served me well, I think it is time for a more advanced solution.
I want a system that can do as much of the following as possible:
- Allow me to run reports on my agent’s lead follow up to see who is and who is not doing their job.
- How long is it taking each agent to respond to leads?
- What leads have not been called in 30, 60, 90, or any amount of days I choose?
- Lead preference reports such as who is looking for a 3 bedroom home under $500,000 in Carlsbad so I can alert them all of a strong new listing.
- Favorite property alerts when one is chosen.
- Drip email integration and the ability to see who is opening what email and when.
- The ability to assign every lead that comes through to a lender as well as an agent. The lender should be able to produce their own drip email as well.
- And of course all of the traditional features such as listing alerts, round robin or manually assigned leads, and auto responders that any of us would expect.
What system do I go with to achieve as many of these goals as possible?
I have seriously considered customizing my own CRM on Propertybase. I am also under the impression that Real Geeks and REW both offer strong solutions. It is just so darn hard to find an all inclusive package that excels in all aspects. I will probably have to compromise something, but what is the best solution or combination or systems to get as much of what I want? (Top Producer is not an option).
Open to constructive criticism and suggestions. I will absolutely be making some major changes based on the discussion and my continuing research. I will update you all later in the year to report back how it all went.
Drew Meyers
Posted at 04:43h, 03 JanuaryFor IDX, I’d recommend taking a look at Displet. @ericbramlett:twitter can answer any questions you have
Daniel Beer
Posted at 09:18h, 03 JanuaryThanks Drew!. Their IDX looks interesting. I will check it out for sure.
Drew Meyers
Posted at 22:10h, 07 JanuaryYour desire for advanced customization is what displet is built around. I have not used it personally, but that’s my understanding from talking to a few people who are working with it right now.
Ben Fisher
Posted at 10:24h, 03 JanuaryDaniel take a look at the LEC 6 from REW. I know a few guys who have it who have very low bounce rates and increased their conversion significantly on the change. The backend also accomplishes a majority of what you are looking for in your requirements.
Jeremy Nerdgasm Rivera
Posted at 15:49h, 04 JanuaryI suggest you use Website A/b testing, and see if adding a listing or two in right column can draw some attention.
Joe Segal
Posted at 18:06h, 04 JanuaryIf the goal is generating leads, I totally agree with this: ” turn that entire space into a nicely designed quick search form to search listings.:” get them searching then hit them with the forced registration (like you are doing) on property details pages.
Its always nice to clearly state what your usp (unique selling proposition) is on the homepage, like why they should stay and use your website.
re>
To improve my conversion rate to sale. I am currently at just over 1%.
I’m not sure how you could improve your conversion rate to sale with the website, unless you are talking about tagetting better keywords. That conversion rate is more about agent management, follow up and rappor with clients once the lead is generated.
I would suggest a goal of improving your website visitor to lead conversion rate, that is more of a website goal that will reduce your PPC costs (one of your stated objectives) and improve the volume of organic at the same time. Semantics I know.
re>To improve the experience buyers and sellers have on my website with something much more powerful and compelling. I will measure this using the bounce rate, which is currently at 71%
perhaps use time on website as well as a way to measure that goal.
Looking forward to seeing your website progress with before and after numbers!
Q
Posted at 21:17h, 19 Aprilforced registration is ANNOYING, and as a user, i’ll just go to the next site that lets me search. you may get a “lead,” but do you really want junk leads? i wouldn’t.
Nick Kremer
Posted at 22:18h, 04 JanuaryWorking with brokers/agents throughout the US, I have seen that the most important thing to do, is collect data from day one. I always go back to Google Analytics to explain why something is performing better or worse in a different setup. A/B testing is only as good as the person reading the data at the end.
I have used IDXBroker, IDXPro, RealGeeks, and a few other smaller services for RE firms in the last few years and have seen a bounce rate of around 23%-29% in recent months with our PPC campaigns. I have started to phase customers out of using everything but Real Geeks, because its less of a hassle for me and the backend system competes with the big boys of the industry. It’s starting to show its worth in SEO work as well. Don’t get me wrong, we built some sites that performed well on the WordPress model and created our own special landing pages using Gravity Forms, but the time involved in development wasn’t worth the money we charged. The move to Real Geek has killed 90% of our develop work and allowed us to put more emphasis on studying Google Analytics non stop for areas of improvement.
I also recommend having a separate site for your main RE site and your lead generation site. It seems that the less people are bombarded with Agents stories, faces, and stats of buying/selling, then the less they seem threatened by the site. The Lead Gen site can be stripped down and give the buyer exactly what they want. Sorry for rambling, but that’s a few things I have noticed.
Dan Bacon
Posted at 09:42h, 05 JanuaryInteresting project Daniel. After about two years I’m getting 3,000 hits a month with a bounce rate of 56%, but our conversion leaves a lot to be desired. Partially this is because our primary market is vacation properties and second homes, which invites a lot of “just looking.”
I built my site around Diverse Solutions technology but would be curious to see conversion and bounce rates/time on site for sites using different IDX technologies and site designs (just property search as opposed to agent info, etc.).
I’d love to see a series on a site (or several sites) built from the ground up with input from everyone over in the side bar and the geekestate followers. That could be a great learning experience for all of us. I’ll be the first volunteer…
Geordie
Posted at 16:51h, 06 JanuaryDan- Let’s talk. I too work in a second home market and would love to bounce ideas off you. It would be great to have a partner to look at benchmarking some data points.
Daniel Beer
Posted at 22:41h, 10 JanuaryDrop me an email anytime you want. You can find my contact info on the contact page of my website. I’d be happy to help in any way I can.
Spencer Rascoff
Posted at 22:42h, 10 JanuaryHi,
Traveling on business all week. Might be slow on email.
Thank you,
Spencer
Jessica Morgan
Posted at 08:52h, 06 JanuaryHey there. I discovered your blog post through Bing at
the same time since hunting for a related issue, your web-site got here upward.
It looks wonderful. We’ve saved it in my search engines bookmarks to travel to
later on.
Anonymous
Posted at 13:29h, 07 JanuaryGood article Daniel. Thanks for writing… Have had several similar thoughts/goals for my new site (904Living.com). For A/B testing – have you seen reedge.com? I haven’t used it personally, but have heard it’s pretty effective and user-friendly.
Spencer Rascoff
Posted at 21:58h, 07 JanuaryHi,
I’m not checking email today (Saturday), but am reachable on my cell phone if you need me urgently. Otherwise I’ll be back on email late tonight, and all day tomorrow (Sunday).
Thank you,
Spencer
Trent Blizzard
Posted at 14:00h, 30 NovemberDaniel: OK, so I know this post if 5 years old, but clearly you like your data! I think you might like loading your website into http://www.blizzardmetrics.com to see how it compares to other sites… reach out to me if you have any questions.