Data-driven marketing is a huge force in and out of real estate with 95.7% of brokers and agents using data and 100% of technology providers in real estate utilizing data in some capacity in their marketing efforts. 100% of companies outside real estate also implement data-driven marketing in some capacity. What is data-driven marketing?
Data-driven marketing is essentially using data to drive marketing decisions. It can mean anything from collecting consumer data to decipher buying signals to matching consumers to content they care about to increase engagement.
The type of data and the ways to use that data is what we explored in our latest white paper: Data-Driven Marketing in Real Estate. We surveyed nearly 100 real estate marketing professionals and discovered that most real estate companies use data to make decisions (72.9%) and large majority also use data to engage consumers (68.6%).
Real estate technology providers put more emphasis on using data to better target consumers (66.7%) and better understand existing customers (60%).
Overall, data-driven marketing is critical in real estate for everything from consumer engagement to targeting. Real estate professionals are primarily interested in using data to acquire new customers and let agents know when a lead is likely to make a transaction.
Less than half of brokers and agents use data to understand their existing customers, however.