An email list is a must have for all real estate agents. That doesn't mean everyone is building it the right way.
Today's post will be about building and segmenting your email list the right way and the common mistakes to avoid so you can have greater value out of it.
It's helpful to know the purpose of this email list in the first place. Why do you even need to have an email list?
You could think of it in a way as you "own" this type of communication.
If you were to go out every single day and attract new people, new sellers, new clients, think about how much money you would spend in getting this type of traffic.
This would be an extensive amount of money you would have to spend everyday.
With an email list, however, you own this type of communication; meaning that these people that are signed up to your list, they have some sort of interest or some sort of an engagement with you that they have committed to be signed up to your newsletter - this is huge.
As long as they're engaged with what you have to say, and they are interested in what you have to say, you can think of it as owning this type of communication. This means you're not gonna have to go out and spend new money to get people into your marketing funnel, only to have them disappear when your advertising budget runs out.
A lot of realtors I've spoken to have a massive email list.
Some of the other ones are just starting their list which is fine. It's not about the numbers - what you want is to have an engagement with this list at a level that is going to surpass your competition.
The right way to do this is to build trust.
BUILDING TRUST IS KEY
Send ONLY relevant information
Think about the fact that it's useless even if you have a huge list but you're not engaging this list with sending relevant information. How do you make the content more relevant?.. by segmenting the list into different types of potential sellers, potential buyers, casual acquaintences, etc.
Try to analyze their ultimate goals
If you're sending something that's relevant to one customer that's not relevant to the other, pretty soon the other customer will stop opening your emails, you're gonna get lower open rates and lower engagement in your marketing plan.
Find your customer's hopes, dreams, and fears - then address those specific points in your content
The way to achieve this is by doing a technique called email segmentation, and refining those segments over time by listing and engaging with them.
Having only ONE list (not segmented)
I see this all the time where realtors only have one list that contains buyers, sellers, and other realtors in it.
What to do instead: Divide this list into smaller lists, or "segments" so you will be able to send relevant information targeted to a specific group based on what they want to accomplish, instead of sending it to your whole network.
Sending too much information to that one list
Realtors send or spam everything into this one list they have: general market reports, sales data, static MLS reports - this just isn't gonna cut it.
Especially in the luxury market where you have high net-worth individuals who are used to being catered to according to their specific want, need, hope, fear, and all other emotional aspect in pursuing their dream home.
What to do instead: Send polls, surveys, etc, but most importantly carry on actual conversations with your subscribers when they write to you.
This will give you tips and hints as to what appeals to this particular segment so you can formulate a content plan which addresses those specific needs. Chances are, if several people keep bringing up the same issue or pain point, then the rest of that segment is likely experiencing the same pain.
I understand that automation is practical and useful in your email marketing strategy but you have to learn how to do it the right way - thru highly targeted and specialized campaigns.
Having an email list is a powerful tool in the real estate business when utilized correctly. Growing your list is not enough if you don't know the right way in building it.
I hope you find this post helpful and if you need help in getting started with your email list or need help with segmentation - any topic! I would love to hear from you. Send me a message thru firstname.lastname@example.org and I hope to see you on my next blog!
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