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Vanity metrics are everywhere, even real estate

(MARKETING) It is often easy to fall for vanity metrics, everyone does it. But “being number one” is so stupidly subjective, don’t cave.

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How many times have you seen or heard “#1 in sales,” “x number of satisfied clients,” or “highest grossing broker?” Probably more than once. What do these phrases mean? Are they even really measurable? More likely than not, phrases like these come under the heading of “vanity metrics.”

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Vanity metrics are things and data sets that are easily manipulated. For tech, it can include things like the number of downloads, page views, and registered users; rather than components that are truly important, such as profits and customer retention.

Vanity Metrics in Real Estate

Real estate, like any other field, has their share of vanity metrics. “Being number one” is ridiculously subjective.

While some associates/brokers/offices have absolutely earned the right based on hard data, many have not.

“Being number one” could mean receiving an award from a random blogger friend, buying an award online, or just plain paying to have the title printed on business cards and in the newspaper; it really doesn’t mean there’s anything tangible or concrete behind the statement.

Nothing tangible

Take for example the person that might say, “over 2,000 satisfied clients.” Sure, that sounds great on the surface. They must be doing something right if they’ve made that many sales. Wait? Does that mean they’ve made over 2,000 sales, or does it simply mean they’ve met 2,000 people?

It doesn’t say, “I’ve successfully sold over 2,000 homes and I have the documentation to prove it.”

It’s also another vanity metric that is intensely subjective. You need more concrete information to make a judgement on the validity of blanket statement such as these.

Also, should you really choose a Realtor® based on something so subjective?

Show me a Realtor who has been in business for more than ten years with no marks on their record (ethical or otherwise) with their local association, and has the documentation to show they’ve successfully sold homes to “happy” customers (read: they come with many recommendations) and I’ll show you someone I’ll put my faith in.

What you can focus on instead

Every team is different. This isn’t to say that major (and minor) sales milestones shouldn’t be celebrated, because they should. Rather, this is meant to be a reminder to us all the vanity metrics are so easy to fall for; we’ve all fallen for these lines, likely more than once.

Instead of looking to data sets with no meaning, teams should focus on internal metrics.

How many clients do you have right now? How many of those clients have bought a home from you? How many showings have you done in comparison to sales? Are you getting positive recommendations and feedback? How much money are you making?

Things like this can tell you where you need to improve; it is concrete data (the recommendations might be a bit fuzzy, but you get the idea).

This isn’t to say that some vanity metrics, like Facebook polls and Pinterest posts aren’t useful, rather just be mindful of what you believe and where you invest your time.Click To Tweet

Listen to your team. Listen to your clients. Set attainable goals and reassess them as needed. Don’t worry about those catchy little phrases, because you know what you need to do to close your sale and keep everyone happy.

#MetricsManaged

Jennifer Walpole is a Senior Staff Writer at The American Genius and holds a Master's degree in English from the University of Oklahoma. She is a science fiction fanatic and enjoys writing way more than she should. She dreams of being a screenwriter and seeing her work on the big screen in Hollywood one day.

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This habit tracker shows you insights you may not want to know

(SOCIAL MEDIA) The Haptic Life Tracker app documents your (good and bad) habits. But how much do you want to know?

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Haptic, a habit tracker app for Apple, shows you almost too many data points.

Ah, Facebook. We hate you for being a massive time suck. We love you for documenting our lives (seriously, that memories feature toys with my emotions daily).

If that time suck becomes too sucky and you need to break up with your feed – but you want to keep a list of what you’ve been doing – check out the brand-spanking-new app Haptic Life Tracker for iOS.

The benefits, according to the makers: “Track your habits and activities in one timeline and get insights based on your actions. See what your life looks like at a glance.”

This habit tracker lets you track useful things like how many glasses of water or cigarettes you’ve had, music you’ve listened to, or what books you’ve read. If you need another reason to feel bad about yourself, you could also track how many times you got wasted last week vs. how many times you worked out – information you may or may not want to see in the cold, hard light of your phone screen (Hey, single people. It’s COVID-19 Time, so can we all just agree not to track the number of days since we’ve had a date? Thanks).

The free version of the habit tracker starts you off with seven preset categories, including music albums, games, and flights, and lets you add five customized categories. You can also auto import data from the iOS Health app.

Paid membership ($1.49 monthly or $12.99 for a year, with a seven-day free trial) gets you a virtually unlimited number of areas to obsess over. The membership also includes more ways to get insights and parse your daily, weekly, monthly, or yearly data.

With any tracking app, the big question is privacy and who gets to see your data. The app makers address privacy right off the bat. According to them, all content lives only on your phone and is not synced with external servers. So, hopefully, Google won’t learn how abysmally low your water intake is compared with your wine log (Am I projecting a lot onto this app? I think I’m projecting a lot onto this app).

Having all that data in one place could let you delete some of the more specialized tracking apps. By way of comparison, take a look at The Muse’s “The Top 50 Apps for Tracking Everything in Your Life.” There should be at least one habit tracker you could cut to whittle down your list. Although maybe not PooLog, which tracks your bowel movements by “type, time and volume” to help identify health issues. The Muse adds: “Or it’s just great for poo aficionados.” I did not know, nor did I need to know there are “poo aficionados.”

Haptic Life Tracker was recently featured on tech-product watch site ProductHunt.com, where comments from maker Alexey Sekachov reveal they’re working on versions for Apple Watch and Android, as well as potentially adding a social component.

Also on the informational treasure trove that is the Product Hunt comments feature, one commenter nailed the app’s minimalist look and feel: “Both beautiful and creepy. Black Mirror meets black turtleneck (Steve Jobs would be proud).”

The ability to use tech to gain insights into our habits and chronicle our lives is the same: Both beautiful and, if we’re honest, just a titch creepy. Haptic Life Tracker certainly has the potential to help us become more self-aware. Its potential pitfall is becoming another time suck: Obsessing over every detail of our lives. I’m looking forward to user reviews to see which idea wins.

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Real Estate Marketing

Improve your SEO research with this free browser extension

(MARKETING) Ubersuggest makes search engine keyword research insanely easy–and free. This Chrome extension can help you boost your visibility.

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Search engine optimization (SEO) research is a fairly gatekept process, and it can be challenging to break into the industry without spending either a lot of time or a lot of money. Ubersuggest, a keyword extension for Google Chrome, disrupts that process considerably.

Ubersuggest Chrome Extension 2.0: The Ultimate Keyword Research Tool is an extension similar, in many ways, to any extension you might use in your Chrome browser: easy to install and largely contingent on browser integration. However, Ubersuggest puts prime keyword research results right in your URL bar, making it both incredibly useful and supremely convenient to access.

And, like most extensions, Ubersuggest is completely free to install and use.

The way Ubersuggest works is relatively simple. After installing the extension, a user simply types a word or phrase into an empty URL bar; Ubersuggest will then display pertinent information about that word–namely how many searches per month it has and the most recent cost per click value.

Upon searching for the word or phrase in question, Ubersuggest will also generate a sidebar chart with comparable terms and the pertinent usage and CPC values for each word, a breakdown of shares, domain score, and the SEO conversion percentage (e.g., how many times users clicked that word) for Google-based searches.

Ubersuggest even works in YouTube and Amazon search bars provided you’re on the pertinent websites, and you’ll notice information about domains appear under search results even when you’re not looking for SEO information.

The only noticeable shortcoming of this service is that it doesn’t necessarily account for searches performed in other engines–Bing, DuckDuckGo, etc.–but given that Google encompassed almost 92 percent of search engine activity last month, it’s a minor shortcoming indeed.

Neil Patel, Ubersuggest’s creator, promises to keep updates to the extension coming. “My goal is to make major releases to Ubersuggest every month if possible,” he mentions in a post for the latest release. One such release looks to be a dashboard expansion for the extension icon when clicked.
Patel also wants to ensure that users of prior versions of Ubersuggest uninstall and reinstall the extension in order to utilize YouTube and Amazon keyword features.

Given how expensive keyword research can be, this extension is a godsend for anyone looking to beef up their online marketing for virtually no overhead.

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Real Estate Marketing

Steal this Apple marketing method to crush your competitors

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Apple is a $2 trillion monolith of a company, and for countless good reasons. One of the primary reasons is their powerful marketing – one could argue they’re more famous for that than their actual product. Alex Garcia has a clear and concise guide to the process Apple uses to create compelling website copy, and it’s something you should absolutely try in your next round of marketing.

Garcia, a known marketing expert, breaks Apple’s copy down into 13 distinct techniques, the majority of which can be lumped into 3 categories:

  1. Appealing to customers
  2. Appealing to experts
  3. Appealing to the algorithm

Like any good marketing scheme, the majority of Apple’s techniques fall into the first category, but the overlap between these groups is what makes Apple’s copy stand out.

When appealing to customers, Apple tends to make things as simple as possible, sticking to a modern adaptation of the phrase “less is more.” This is a process that involves anything from rhyming (yes, seriously) and using alliteration all the way to creating short, energetic sentences that place the reader in the driver’s seat.

Apple also likes to focus on specific product details – edgeless screens, faster chips, camera abilities – as individual selling points, complete with supporting images. In theory, this makes it easier for the consumer to keep track of the benefits of the product.

And that energetic copy, often stemming from short sentences with the words “you” and “your” appearing organically, always accompanying those product details.

For what Garcia identifies as “scanners,” the most impressive information comes first (and uses the largest font), with the rest of the information following an “inverted pyramid” format in which details taper down from largest benefits to smallest benefits.

Apple’s overlap between experts and consumers is similarly notable. For the casual consumer, mentioning the new chip speed or information about the retina display on an iPhone stands out as impressive. And for experts who know how to read the specs they’re seeing, that first impression means just as much. Apple’s inclusion of those specifications in their copy (often in finer print than the bold, consumer-oriented headlines) makes all the difference.

Finally, search algorithms can flawlessly index Apple’s marketing copy due to copious use of keywords (words that don’t feel like keywords to the average consumer) in order to ensure that Apple products are recommended to as many undecided would-be buyers as possible.

Make no mistake: Apple has a metric truckload of other reasons for their success, many of which are well-outside of the grasp of most companies. But their marketing copy, and the confidence with which it is implemented, is something from which any business can learn. Before your next marketing push, consider how you’re appealing to all three categories, while your competitors only consider one (consumers).

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