As a consumer, there’s not much worse than being bombarded with marketing that has nothing to do with your current interests; and as a marketer, there’s not much worse than people engaging with your marketing too late or too early in their journey from lead to client. After all, successful marketing is all about reaching the right people, at the right time, for the right reasons.
That’s where behavioral marketing comes in.
Behavioral marketing is the process of fine-tuning your marketing strategy to get in front of your target audience, at the right time, based on their behavioral traits, like their intention, location, and other data-driven marketing insights.
Essentially, by looking at the specifics of someone’s journey from lead to client, you can identify the key points at which people make decisions, and eventually, when they take action.
With that information, you can adjust your marketing efforts so they’re more specifically addressing each person’s needs and interests, at the right time.
In behavioral marketing, you create more personalized experiences for people by leveraging data about their behavior and preferences; and it works because it allows you to build deeper relationships, increase customer engagement, and ultimately, get more business.
Gathering, Analyzing, and Segmenting Data
To be truly successful, your behavioral marketing strategy should be based on data, not guesses.
Depending on what tools you have in place, you could get that data from your website analytics, your email marketing analytics, or anywhere else that you can get information about how, when, and how often people interact with your marketing and then identify where and when they’re most likely to convert (and then segmenting them into groups). For example:
- Through your website analytics, you can see how people interacted with your website, how long they visited, what pages they went to, and where they converted.
- Through your CRM analytics, you can see the demographics and personal information of the people in your database.
- Through your email marketing analytics, you can see what emails people opened, when they opened them, and what they engaged with.
Once you have the information you need, that’s where your marketing strategy comes in.
★ Want to learn more about segmenting your marketing database? Have a look at these posts:
- Why You Should Never Stop Building Your Email Marketing Database
- How (and Why) to Build a Real Estate Marketing Segmentation Strategy
- Automating Your Email Marketing List Building
Delivering the Right Message
At this stage, to be successful, you have to focus on personalization, based on your understanding of where people are in their journey and where they’ve converted in the past.
Personalization is key to reaching the right people, at the right time, by making them feel like your marketing was created just for them.
There are a number of components of your marketing strategy that are opportunities to do this, like targeted advertising, personalized email campaigns, customized landing pages, and even marketing automation.
For example, if you know that most of your buyer leads converted, after an average of 30 days, and after viewing specific content on your website, then you can set up email drip campaigns to send them that information, automatically, just before the 30-day mark.
Or, if you know that there’s a trend that more of your seller leads convert after learning something specific about the market or the selling process, you can create ads to target those people, for those reasons, with that information.
By delivering relevant and personalized content, at the right time in someone’s journey from lead to client, you can increase the likelihood that’ll respond to and engage with your marketing, and eventually, become a client.
★ Want to learn more about personalization in marketing? Have a look at these posts:
- Using Personalized Marketing to Get Better Engagement (and Leads)
- Carving a Niche to Get Better Real Estate Leads
- Why Personal, Targeted Marketing Means Better Real Estate Leads
- How and Why to Build Buyer Personas For Your Marketing Strategy
Testing, Refining, Rebuilding
Personal behavioral marketing is an ongoing process that requires constant testing and refinement; in short, you’re never done.
You should regularly review what’s working, and wasn’t isn’t working, to get the best results.
If you’re not getting the results from your marketing efforts, you need to make adjustments (like to your targeting or messaging); alternatively, if your marketing efforts are performing well, you may want to double down on what you’re doing to build on its success.
With up to date marketing trends relevant to today’s market, our report is a selection of curated content, information, and data that will give you an outline of what’s working right now in real estate marketing.