Split Testing For Your Real Estate Marketing Campaigns- Part II
Before you read this 2nd part of this article, we invite you to read the part one.
How Do I Split Test?
When split testing change one variable at a time and test it against the control. Let’s say you wanted to see if a shorter web form will increase your real estate leads. You would have half of your traffic go to the original form and the other half go to the newer form that has less fields to be filled out.
Depending on the amount of traffic your website receives and what your current conversion rate is will determine how long you will want to test for. Split test for a day or two and you are cutting yourself short (unless you have a ton of traffic) and run the test to long and you can be hurting your efforts by the new form being worse than the original.
You will want to keep an eye on your analytics data when running your tests so you can see which one is out-performing the other. This is where setting up goals in your Google analytics (if you use this) will come into play.
A conversion rate increase of 5.5% may not seem like much, however that increase generated 55 more real estate leads. Think of that increase like money, every little bit adds up and can add up quickly across multiple marketing campaigns.
Do I Only Test Conversion Rates?
No you will want to test various aspects in your real estate marketing as conversion rates are only one piece of the puzzle.
Other things to test for would be:
- Email open rate
- CTR’s (click through ratios)
- Bounce Rate
For email marketing you should be split testing your open rate. This is done by using different subject lines as well as what time of the day/night you send out your email. Email marketing is still a powerful tool to use and if done properly can really help increase your conversion and retention rates. One thing to remember about open rates is you want to have a clean email list. Having a high amount of undeliverable addresses and even a high amount of remove requests can skew your results.
CTR’s can be tested for various marketing campaigns such as pay per click, email blasts, banner ads, or any other online marketing that you can test your impressions vs. your actual clicks. This comes in handy when determining what websites you will continue to advertise on and which sites you may cancel. If you are paying one site $xxx/month and your ad’s CTR is low, you might be better off putting your advertising money somewhere else. Measuring your CTR is important when determine which PPC ads to run as that is a big metric you use to judge which ad out performs the others.
Bounce rates are important to test as well as the lower the number the better. A bounce is determined when a visitors hits your site and then leaves shortly afterwards without doing or looking at anything else. That visitor did not interact with your site and they surely did not convert into a lead/sale. Split test your web copy, image or images used and the placement of your call to action. If what they need to do is hidden from plain site, move it into the open and almost tell them CLICK HERE NOW.
What If It Fails
When split testing you are going to fail, it is impossible to always create something better each and every time. If B did not out perform A, then go back to the drawing board and come up with a new idea for B and test it again. You will want to keep track of what has worked for you and what did not, this way you know what to avoid trying again in the future with your campaign.
Take a look at what the big real estate companies are doing, their advertising budget is probably a lot bigger than yours and they have more resources to test what is working best for them. You can implement some of their elements into your local real estate campaign. One thing not to do is use every single keyword they are using. You can use a tool like keywordspy to see what keywords websites are bidding on. Copying all of their keywords can set you up for total failure and blowing through your PPC budget in a matter of hours and not a day/week.
ABT – Always Be Testing. Split testing is a must, especially in today’s competitive market you want to give yourself the best chance you possibly can. Tweaking things within your various marketing campaigns is a sure fire way to find things that will work better then what you started out with. At the end of the day it is all about your ROI. If you can increase your ROI by split testing various aspects in your real estate marketing campaign then you are one step ahead of other real estate agents and brokers as they are probably not taking this advice.
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