This is the third part in our series on media and marketing terms every real estate agent should know. These are terms that may be familiar to media and marketing professionals, but aren’t part of the everyday real estate vocabulary.
For the last two weeks, we’ve focused on media terms: first photography, then video and 3D. Now we’re shifting our attention to marketing terms. We’ve got so many to share that we’re just doing A-E this week – check back next week for the rest!
A/B Testing
Simultaneously running multiple versions of a marketing campaign or piece of content, to test how people react to the different versions. For data to be reliable, you should change just one element of the campaign at a time (for instance, the headline of an ad OR the photo in the ad, but not both). A two-version test is an A/B test, three versions is an A/B/C test, and so on. Keep in mind that your audience must be a minimum size for any differences in response to be statistically significant.
Backlink
A link from someone else’s content to your website. Legitimate backlinks – such as those from quality blog posts on a related topic – can help boost your SEO. Don’t pay for backlinks or list your website in generic online “directories” that promise to get you large amounts of traffic or links. These are shortcut tactics that can cause search engines to downgrade your site.
Bounce/Bounce Rate
When an email can’t be delivered to the intended recipient due to some kind of error. Common reasons for bounced emails include incorrect or invalid email addresses, the recipient’s inbox being full, server/connectivity problems, or spam filters. To avoid high bounce rates, keep your email list up-to-date. Consider setting a reminder on your calendar to clean up your list on a quarterly or semi-annual basis.
Call to Action (CTA)
A clear statement encouraging prospective clients to interact with your content or take the next step in the sales funnel. It’s a good idea to include a CTA in all your marketing emails, and your website should have a clear CTA on every page. But make sure the CTA makes sense in context. For instance, don’t use a “List With Me Today!” CTA in a marketing email to people who just moved. Pro tip: yellow is the most effective color for a CTA button.
Click-Through Rate (CTR)
The percentage of people who clicked a link in an email or ad. For emails, this might be measured as a percentage of the people who received the email, or a percentage of the people who opened the email. For ads, this might be measured as total clicks divided by total impressions, or number of people who clicked divided by number of people who saw your ad. Make sure you understand how your platform or provider calculates CTR.
Content Management System (CMS)
An application that allows you to update and manage the content on your website – the “backend” of your site. WordPress is a popular and easy-to-use CMS. If you are planning to build a new website, evaluate the CMS carefully. The types of content it will accept and how easy it is to use will have a major impact on your ability to keep your website relevant and attractive to potential clients.
Content Marketing
Marketing centered around providing useful, engaging content to potential clients, rather than making a “hard sell.” The core purpose of content marketing is to establish yourself as a trustworthy resource and build relationships with potential clients so that they want to hear from you. Blogs, informational or entertaining videos, and webinars are common components of a content marketing program. Content marketers typically distribute this content through platforms such as social media, email, and their websites.
CPC/PPC
Cost-Per-Click/Pay-Per-Click. A type of advertising that charges a specific amount for each time people click on the ad. Marketers typically use the term CPC or PPC when referring to search engine-based advertising, such as Google AdWords. The term CPC can also refer to the actual cost paid per ad click.
Drip Campaign
A pre-constructed series of emails sent to potential clients. A drip campaign can be automated, or you may send each part manually. To be effective, a drip campaign should be highly targeted and relevant to the recipient. Welcome series are one of the most effective types of drip campaigns – consider setting one up for new leads.
Dynamic Content
Content that changes automatically based on the viewer’s interests or previous behavior. Dynamic content is used most often in emails, in ads, and on webpages. For instance, you might vary the photos in an email or ad based on the type of homes someone is interested in. Or you might set up rules on your website so that it doesn’t display lead-capture forms to people who have already filled them out. Using dynamic content is a highly effective way to improve user experience, make your marketing relevant, and improve conversions.
Engagement
Interaction with your content. Engagement can range from minimal (someone clicks “Like” on your Facebook post) to highly meaningful (someone watches your video all the way to the end). If you are dealing with an audience that is actively pursuing home-buying or –selling, you should be focusing on engagement as your primary metric. Engaged leads are higher-quality and more likely to convert to paying clients.
ESP
Email Service Provider. A software program or web-based application where you can maintain your email list, create and send email marketing campaigns, and view results data. There are many ESPs available, ranging in price from free to very expensive. If you are choosing an ESP, look for one with the following characteristics:
- Integration with your CRM (if you have one)
- Ability to segment your email list
- Easy-to-use email builder or templates that can accommodate visual content
- Average delivery rate of at least 95%
- Compliance with anti-spam laws
- Reports that will help you evaluate the effectiveness of your campaigns (at minimum, metrics should include open, click-through, and opt-out rates)
Got marketing terms you’d like us to define in our final installment? Share them in the comments!
