Data: It’s not just about owning it
Data has stamped its mark on businesses of all shapes and sizes, not least those in the housebuilding industry. Housebuilders, large and small, have become conscious of the value of vast pools of data when it comes to gaining an advantage. Our industry is a hugely competitive one and a well-executed, data-driven strategy allows sales and marketing teams to get ahead.
We at Prospect Generator are all too aware of the importance of capturing data. It can be a highly daunting task and brings with it as many challenges as it does opportunities. So, what do those challenges look like?
We believe that whilst the ownership of data is an indispensable part of any successful sales and marketing strategy, it can be rendered useless if not managed in the right way. What is more important is how you use that data.
Housebuilders are, on the whole, extremely competent when it comes to gathering commercially advantageous data. But when it comes to processing, analysing and translating it commercial use, the picture is slightly more varied.
Making use of your data
Data needs to be structured to make sense of it.
It’s all very well and good having spreadsheet upon spreadsheet of information around your target buyer; their current living situation; how much they have to spend and so on, but it doesn’t mean much if you’re unable to optimise it.
Our budget calculator, for example, transports invaluable customer information directly into your Customer Relationship Management System in real time. It’s already been tried and tested by some of the U.K.’s most prestigious housebuilders and they have seen brilliant results.
A well-stocked and easily accessible CRM system offers numerous benefits to housebuilder sales and marketing teams, as you will be all too aware. But what other benefits can be accrued through a data-heavy sales and marketing strategy?
At the end of the day, not everybody likes to crunch the numbers. Some housebuilders simply don’t have the capacity to do so. That’s where we do the hard work for you.
We do all the heavy lifting when it comes to data capture, analysis and reporting. You don’t need to worry about spending hours on Google analytics to deep dive into the performance of your latest sales message. You don’t need to worry about whether you’ve just spend precious marketing budget on someone who’s just moved into a new home.
Not only does it mean that agents won’t be scratching their heads from behind a computer screen, but it also means that precious time can be spent on pursuing pre-qualified leads. That’s our speciality.
That’s what we mean when we talk about the difference of owning and using data. Let us do the work.
Learning what works for you
Sales and marketing strategies are fast-moving and ever changing. They require an open mind and a willingness to adapt with your failures and successes. That’s bound to be the case in an industry that is so volatile to fluctuating economic conditions and the corresponding consumer behaviour which follows.
What proved highly successful one week may turn out to be underwhelming the next, so it’s important that data from your house hunters and web users is interpreted in the right way to enable a fleet-of-foot response.
That is no easy feat, especially for those SME housebuilders who don’t boast the manpower of the Berkeley’s and Galliard’s of this world. But our team can do it for you.
Our advanced reporting system provides you with an in-depth analysis of the performances of your marketing outputs and ultimately, shines a light on their cost effectiveness. We look into key metrics including:
- Who is really visiting your website?
- Where are you generating your best leads?
- Which developments are customers interested in?
- How much do they have to spend on their next home?
- Are your homes the right price?
Informing your strategy
Ultimately, successful interpretation and use of data supports and builds a strategy for you. It allows you to figure out not only what marketing platforms and messages work for you, but also how those insights can inform your future sales processes.
It might well be that a successful data-driven campaign at one development can be applied to a similar one down the line. It can allow you to look beyond that development in isolation.
Data can be an extremely confusing aspect of the marketing machine; there is little doubt about that. But once you’re able to make sense of it, structure it, and put it to good use – it becomes an indispensable part of the marketing tool kit.