Falcon & Fire Case Study | Email Marketing for Real Estate | Fire Up Your Marketing
Real Estate Brokerage Raises CTRs 302%
Case Study Snapshot:
This real estate brokerage outside of Miami, Florida, specializes in office and medical/healthcare locations in the surrounding area. This brokerage came to F&F for email marketing optimization and implementation that would reignite their disengaged following and create space for new people that would be delighted in their offerings.
After 3 months, F&F managed to reduce bounce rates by almost 90% and tripled the brokerage’s click-through rates through a tailored and manageable strategy.
About The Brokerage
Specializing in healthcare, medical, and office space, this Miami commercial brokerage has facilitated the sale and lease of many properties in the surrounding area.
Established in 2014, the brokerage grosses on average about $17M annually.
The brokerage decided they needed help with their own brand marketing in conjunction with their internal strategy and implementation.
Real estate was getting almost too hot to handle. To keep up with everything happening, they knew they needed to strike hard and strike fast.
302% Rise
In CTRs in 3 months time
90% Drop
In bounce rate
The Challenge
It's Not Free Real Estate
The brokerage wanted more from their email marketing; something robust and would get people to open and – dare we say – click through to the website. They saw the value in email marketing and automation not only for available properties but other content on their website.
The brokers, agents, and REALTORs® had little time to channel their focus into constructing and implementing this strategy. This led to a weakening of brand engagement and website traffic that in turn led to missed opportunities for sales and leases.
The Solution
It's Still Not Free Real Estate
The brokerage had heard about Falcon & Fire through the referral of a colleague in the Tampa Bay area and decided to get in touch. “I had explained what the situation was, and I was impressed at how Jo really got to the heart of the matter, asking different questions that I had not considered. The level of detail that they thought about as well truly put everything into perspective.”
“It was really a comprehensive plan they had put together. I could see that they were aiming to engage and re-engage our prospects to increase interest in what we had available. I was hesitant at first because of how long this was going to take, but after showing me the industry benchmarks and the competitor analysis compared to where we were, I saw the potential this had that could add to our revenue and sideline our competition.”
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The Results
It Wasn't Free Real Estate
From 7.8% to 15.1% Open Rate
Through a blend of tactics, the brokerage went from 7.8% open rate at the beginning to 15.1% after 3 months. That's a 93.6% increase!
From 1.5% to 6.3% CTR
Through dynamic content and A/B testing of different aspects of email, the brokerage found what their people wanted to see. And gave it to them by the handful.
Conclusion
Do we need to say it?
Email marketing is at the forefront of strategies to utilize especially with increased privacy restrictions on internet browsers that can throttle 3rd party data. Stepping up email marketing served this brokerage that ultimately flowed down to their bottom line in terms of revenue.
When asked about how other businesses could use email marketing for their advantage, the broker spoke about the more holistic view on marketing that others should take. “Email can be a tour de force when used in a way that makes sense. If done right, the returns can really bring dividends that impact the entire marketing strategy. Sometimes, you have to get the job done right the first time, rather than trying things yourself and wasting time and money.”
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