Learn the advantages of drip marketing when selling luxury homes within a planned community.
Drip marketing can also be known as marketing automation, lifecycle emails, behavioral emails, and autoresponders. This type of marketing is the process of crafting, pre-scheduling and sending a series of emails to a prospect that keeps a listing top of mind.
Drip marketing is not an e-newsletter. It's a series of emails that:
• Combined convey a narrative about the unique attributes of your property
• Positions your firm as the trusted expert in your market
• Increases both your sales velocity and closing rate
Drip email campaigns are automatically and sequentially sent to your prospect when they sign up to receive them on your landing page (you are using dedicated landing pages, right?). E-newsletters are sent to an existing prospect list once. They are never seen by new prospects who make contact after the newsletter is sent out.
Email newsletters are a wasted effort
Most luxury real estate communities send email newsletters to announce a new amenity, get the word out on a new model home, or to boast about a sale. They are usually inward facing and provide limited value to a prospect who does not yet live in your community. An average Gmail inbox has 8528 unread emails. Contrary to popular belief, they are not all spam. They are merely uninteresting to the recipient. E-newsletters lack urgency, often miss the target audience, and rarely convince a prospect to view the homes in your portfolio or initiate broker contact.
Sending e-newsletters as a primary way of communicating to a prospect is a waste of your time and budget.
How to use drip marketing to sell luxury listings
Drip marketing has one purpose. They're used to keep a targeted audience engaged in an expressed interest and to move a prospect towards a sale. They work primarily because they are based on an action taken by a prospect who wants more information. When a prospect signs up on a website landing page for information, they are giving you permission to market to them.
Once you get a sign-up here is what should happen:
1. The first email sent should be a welcome or introductory email with contact information and a description of the home.
2. In a few days, the next email goes out highlighting home features with links to a website page on the neighborhood and testimonials from residents in the community.
3. A third email should be set to automatically go out five to seven days after the second email.
4. This process continues until the email series ends or the home is sold.
Every email in your campaign should contain hyperlinks to your website where they can see an additional call to actions and sign up on a landing page for a different drip email campaign. A Call to action is a graphic element on a web page that links to a landing page. (You can view one at the bottom of this page.) Early in the campaign, you should include links to website pages that spell out your unique sales proposition with an option to learn more, through a different campaign, about your firm's bespoke approach.
As you craft drip emails that are later in the process, it's a good idea to start to include links to web pages with home styles and price points that have another set of call to actions and landing pages that spell out the attributes of a different property with a separate drip campaign.
The advantage of drip marketing is that allows you segment and contact groups of prospects based on their interest in a single type of home. When a buyer expresses an interest in a home in the $750K to $1.5 million dollar range, you can be confident that a $3 million home will have limited interest to them.
Drip emails are sent automatically saving you the drudgery of one off correspondence. The average drip marketing queue for a luxury property is eight to ten emails in length. Drip marketing emails work best when personalized with a name. Names, as well as other information, can be setup to auto populate your campaigns emails. (tip: don’t make the mistake I did and get their first name from their email address then address them by their name in the email, only do it if they have given you that information). Drip marketing can be used to move buyers along the buyer's journey. By providing home buyers requested information you reduce unsubscribes and position your homes as the best choice. Keeping an eye on your analytics and giving people information that is of interest to them will lead to fewer unsubscribes and greater sales.
Sending too many drip emails without a specific goal that may or may not match your prospect's decision-making process will cause unsubscribes and spam complaints(not good).
However, a well thought out drip campaign will tell a story about the home you're trying to sell, promote your community, and get subscribers back to your website so that you can strengthen your value proposition. Writing audience specific emails that speak to each of your audience segments will encourage a positive reaction from your subscribers.
If you haven't already, I strongly encourage you to go through our free guide on using virtual reality to build and sell luxury real estate. It's packed full of useful information and it's applicable to anyone involved with the design, development, and marketing of the built environment.