by threshold | Jul 10, 2023 | Digital Marketing, Marketing, Tech/Web, Thought Leadership
Abby Barnes
AI: ever heard of it?
As the digital marketing landscape continues to rapidly evolve, artificial intelligence (AI) is emerging as a critical tool for marketers. At Threshold, we’ve witnessed how AI is reshaping customer interactions and enabling marketers to make more informed marketing decisions.
To fully unlock the potential of AI and create personalized customer experiences, it’s crucial to understand its fundamentals, select the right AI technologies, and measure its impact. We’ve created a guide to equip you with the knowledge you need to really harness AI’s capabilities, enhance your marketing campaigns, and drive your team toward success.
Let’s get started, shall we?
what is AI?
AI simply refers to the ability of machines to perform tasks that traditionally require a human. In digital marketing, AI plays a critical role in helping businesses automate and optimize their marketing efforts to create more personalized experiences for their customers. Cool, right?
One use of AI in digital marketing is through the use of machine learning algorithms. These algorithms can process and analyze large datasets, including customer behavior and preferences. AI can help identify patterns and predict future behavior, allowing marketers to develop more strategic and personalized marketing campaigns.
But it doesn’t stop there. Another application of AI is through the use of chatbots on your websites. Many property management companies have already started adopting these bots as they can serve as valuable virtual assistants, capable of delivering instant support.
what are the benefits of AI in Digital Marketing?
We’re so glad you asked.
enhanced efficiency
AI helps with automating tedious tasks like data collection, analysis, and segmentation, freeing up valuable time for marketers to focus on strategic initiatives.
personalized experiences
Leveraging AI tools allow marketers to gain insights into customer needs and preferences, providing tailored campaigns that resonate with your target audience.
real-time optimization
AI-powered analytics provide real-time insights into customer behavior, enabling marketers to optimize campaigns quickly. By leveraging AI’s ability to analyze vast datasets, businesses can make data-driven decisions that enhance marketing strategies and deliver better results.
automation and scalability
AI automates various marketing tasks, including customer service, data analysis, and social media and email scheduling. This automation allows businesses to scale their marketing efforts efficiently as their customer base expands.
identifying the right AI technologies
Choosing the right AI technologies that align with your specific needs is crucial for successful implementation in marketing. A wide range of AI-driven tools, from customer service bots to data analysis platforms, are available. Like any technology, AI in marketing carries inherent risks that should be addressed. Privacy concerns may arise when collecting and analyzing customer data using AI-driven tools.
That’s some serious business.
It is crucial to ensure that data is collected and used securely and in compliance with regulations. Additionally, being aware of the potential for bias in AI algorithms and taking steps to ensure accuracy and fairness are paramount.
integrating AI into your marketing strategy
Once the appropriate AI technologies have been identified, integrating them into your marketing strategy is key. As digital marketers, we’re already using AI-driven initiatives in Google Ads campaigns. Responsive Search and Display Ads are the perfect example!
By providing multiple headlines, descriptions, and creative assets, Google’s AI will generate ad combinations and learn over time which combinations drive better results.
AI-driven tools enhance efficiency and campaign effectiveness, but it is crucial to track and evaluate results. By measuring campaign performance, you can identify areas where AI has the most significant impact and make informed adjustments. Plus, (last point, promise), considering factors such as cost and return on investment helps ensure you make informed decisions about implementing AI technologies.
to sum it up
The potential of AI in marketing is vast, and understanding how to harness its power is vital for marketers. This comprehensive guide gives you a quick overview of the fundamentals of AI in marketing, along with how you can see success in implementation.
By embracing the benefits and mitigating the risks associated with AI, you can unlock your marketing team’s potential and drive better results.
Tired of spending precious hours trying to decipher AI, ad trends, and where to put your spending? We don’t blame you. Luckily, we have a solve. At Threshold, we are well-versed in AI technology and can guide you through this transformative journey.
Contact us today to explore the revolutionary possibilities AI offers for your marketing initiatives.
before you go
For more tips and information about marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram and Facebook!
by threshold | Dec 29, 2022 | Digital Marketing, General, Marketing, Tech/Web
 Ava Page
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What is SEO?
Search engine optimization (SEO) is the process of utilizing optimized content in order to improve your ranking on search engines and increase traffic to your website. The best ways to ensure this practice is completed at maximum success are to create high-quality content, ensure quick load time for your website, and create a user-friendly website across all platforms.
Why should I focus on SEO?
The bottom line is that SEO is what will make your website visible, and will in turn ensure long-term equity for your business or brand. Higher visibility will result in higher organic traffic for your site, all without spending a dime on advertising.
Improving your SEO rankings is one of the easiest and most cost-effective ways to drive traffic to your site. 65% of users who search on Google say they will choose organic results over ads, proving that securing a solid SEO campaign can be more effective than paid ads in this arena.
What SEO content should be included on my website?
At Threshold, we happen to know a thing or two about SEO. In fact, it’s pretty much our specialty. So much so, that we’re offering some insight on the top ways to ensure SEO success for your business or brand and how we provide for our clients on custom websites, social media management, and other digital marketing services.
Alt-text
First things first, it’s worth noting that 22.6% of Google searches come from image searches, hence the importance of your website images’ SEO.
Alt-text – sometimes referred to as alt tags or alt attributes – is an included written description of an image within the website. This helps in giving your site and its images a higher search engine ranking, as it enhances the accessibility of your site.
Meta descriptions
Meta descriptions allow you to provide a snippet or summary of your website and all its pages to be shown in the SERP (search engine results page).
A good meta description will entice viewers to click on your page in search engines, increasing your CTR (click-through rate), organic traffic, and lead generation.
Without effective meta descriptions, search engines will rank your website lower, and those potential viewers who do make it down to your listing will turn away from site descriptions that don’t interest them.
Page titles
We’ve all heard not to judge a book by its cover, but in most cases, it’s inevitable.
Page titles on a website are no different! When creating your page titles, you must be sure to let your clients know what they’re searching for, while also drawing their interest.
As far as page titles go for SEO, it’s a pretty similar idea. Search engines are never going to prioritize a website without clear page titles to indicate where they are sending their users.
Keywords
Keywords are where things can get tricky in SEO, and why we recommend you leave it to the professionals – like us!
However, for the sake of giving you a better understanding of why we do what we do when choosing keywords, we’ll let you in on some tricks of the trade.
Keywords are what most often will attract users to your website in search engines. Think about what clients will be plugging into their search engines when looking for a business such as your own – these are the starting points for choosing your keywords.
Another tricky part of keywords is knowing how many to include per page, per site. Include too little, and search engines won’t recognize your site. Include too many, and search engines will avoid promoting your sites due to spam triggers.
Lucky for you, keyword research and implementation are a huge part of our premium SEO services when creating our custom websites.
Linking
Whether it’s to provide examples, deeper dives into the information you’re promoting, or simply linking to other locations within your own website, this is a step you’ll want to pay attention to. Both internal and external links let search engines know that your information is relatable, and oftentimes, verified.
Mobile-friendly
Creating a website that is user-friendly across all devices is something that will contribute largely to your SEO rankings, and it’s because of one simple fact: nearly 60% of online users access the web using a mobile device.
Gone are the days of simply using laptops and desktops to access the internet, and mobile-friendly websites are here to stay. Google and other search engines are simply not going to prioritize a website that isn’t designed with the majority of online users in mind.
This is why creating a mobile-friendly website isn’t something that can be pushed to the back burner to be resolved later – it’s something to look at now, or else your SEO rankings will suffer exponentially as a result.
Before you go
Don’t forget, we’re experts when it comes to crafting high ranking SEO friendly custom websites, and we are here to help! Reach out to a CSM or any of our team members to get started on taking your website’s SEO to the next level, and see an increase in traffic, and watch the leads roll in.
For more tips and information about digital and real estate marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram, Facebook, and Twitter!
by threshold | Oct 16, 2022 | Design, Digital Marketing, Tech/Web, Thought Leadership
Angel Roa
Now more than ever, people are accessing the internet through their mobile devices and tablets. Long gone are the days of desktop-only users! According to StatCounter, a web traffic analysis website, a whopping 59.25% of global online traffic came from mobile users alone, followed by 38.53% desktop users, and just 2.22% tablet users.
This displays the importance of where we must start our design, and where we should be focusing our efforts in making an effective and dynamic real estate website that drives leads. Designing mobile first, and then expanding to a desktop friendly site, is the most user-centric and accommodating to most target audiences.
What is mobile first design?
A philosophy which aims to create better user experiences by starting the design process with prioritizing the smallest screens first. This strategy is often referred to as the concept of progressive advancement. Once a mobile design is in place, designing for larger screens becomes easier and we have the core elements of the design established. Starting a design with mobile also enforces aspects such as bandwidth, screen size, and multitasking capabilities. As you progress onto larger devices, it’s easier to expand the functionality with supplemental elements and features. Remember: it’s always easier to add than to take away!
We’ve put together a few design principles to get us started in our mobile first design stage.
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Users should be at the forefront of your design
- The design of your real estate website must help users solve a problem or complete a task quickly and effectively. Users should easily be able to view floor plans, virtual tours, check availability, call or contact your community, and ultimately, apply and sign a lease. Keep in mind user flow – convenience is key to generating more leads!
- Look at your competitors’ mobile websites and check out what they do and don’t offer. How can you improve your user’s experience compared to your competitors? Maybe it’s adding a floor plan filter to make it easier for prospects to find exactly what they’re looking for. Or maybe you notice that a competitor doesn’t have virtual tours on the website. As crazy as it may sound, over 80% of renters apply and secure a lease without ever visiting the property, thanks to online marketing. Adding virtual tours to your website can increase website engagement and provide a convenient option for people who prefer to tour virtually as opposed to in-person.
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Keep it simple
- Improve content clarity on your mobile site while helping the user focus on what content is most important. This can be done by reducing links in your navigation menu, reducing the number of pages, and keeping borders wide and lines clean.
- Use white space to your advantage to make the layout less cluttered and more readable, which will also improve your SEO and increase organic traffic.
- Prioritize the content you want displayed on the website: Ex: Floor plans, Location, Gallery, Amenities, Blog, etc.
- Prioritize the hierarchy of that content. Understand what the user flow is and how to display the most important content. For example, we recommend prioritizing floor plans because data confirms that people spend the most time looking at floor plans on the website, and it’s usually the first stop after visiting the homepage.
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Incorporate bold and consistent CTAs
- A call-to-action needs to be easily located by users throughout your website. Not doing so can lead to a loss of leads and decreased conversions.
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Adhere to mobile friendly practices
- Choose fonts that are web safe and keep font styles to a minimum.
- Select contrasting colors and make text legible according to Web Content Accessibility Guidelines (WCAG).
In Conclusion
Now that you know what a mobile-first design is and its importance moving forward, we hope you will incorporate this new knowledge into your real estate website to generate more leads. By remembering to put users at the forefront of your website design, improving content clarity, and incorporating consistent CTAs, maximizing your lead generation should be a walk in the park.
For more tips and information about digital and real estate marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram, Facebook, and Twitter!
by threshold | Sep 27, 2022 | Digital Marketing, Marketing, Tech/Web
Abby Browning
Google has announced that Google Analytics is getting its most significant update ever with the release of Google Analytics 4 (GA4). On July 1, 2023, GA4 will officially replace Universal Analytics (UA). Each day after this date, your UA will stop processing new hits. To make sure that your real estate marketing isn’t disrupted, we’ve put together a list of some key differences in the new instance and what you need to do to prepare.
What are some of the key differences between UA and GA4?
1. New & Improved Data Model
Universal Analytics relied on a hit-based data model tracking items like pageviews, events, and more. While UA has worked for simple site tracking, there was a need to keep up with the ever-changing and increasingly complex web and in-app environments to gain valuable insights and collect quality data. So, GA4 was built on an event-driven data model. This means that everything is an event from a pageview to a click to a file download.
2. Events
Because GA4 is built on an event-driven data model, events in GA4 have gotten an update. You may be used to seeing Events in UA structured with a Category, Action, and Label. GA4 has simplified events by requiring only Event Name and Event Parameters and automatically collects certain events on your website.
- Automatically Collected Events are collected by default and measure basic interactions with your website. These events include first visit, page views, session start, and user engagement. A comprehensive list can be found here.
- Enhanced Measurement captures optional events automatically that can be enabled/disabled at any time and measures additional engagement opportunities on your website, like scrolls, outbound clicks, file downloads, site search, and video engagement. More information about Enhanced Measurement can be found here.
Plus you can modify events, create custom events, and if you’re using GTM, you can easily push events into GA4.
3. Goals vs. Conversions
Because the events in GA4 have been improved, conversion tracking has been simplified to understand conversions based on specific events. Instead of creating goals, we can now use events in GA4 and mark them as conversions. Instead of setting permanent goals, GA4 gives us 30 conversion slots that can be turned on and off in order to keep the data we’ve collected while freeing up slots for the future. You won’t want to mark every event as a conversion but take advantage of modifying or creating custom events to drill down on the conversions you want when someone takes a specific action on your website (ex: view a “thank you” page view after a form completion).
4. Front-End Redesign and Navigation
The entire front-end and back-end was redesigned to offer more flexibility and insights across all of your digital properties. Because the front-end has been redesigned, when you log-in for the first time, your left hand navigation will look slightly different. You’ll be used to seeing your ABC’s in UA – Audience, Acquisition, Behavior, and Conversions. GA4 has restructured the nav to Reports, Explore, and Advertising. Don’t worry, everything you need will still be there (and eventually more), but it’s a little easier to navigate and understand. You’ll find a bulk of what you are looking for by using the Reports section to view acquisition and engagement.
5. Behavior Flow Vs. Exploration Templates
If you’re like us, you may use Behavior Flow in UA to understand the user journey on your website. Behavior Flow will be replaced by two new Exploration Templates in GA4.
- Funnel Exploration Report – a funnel is a specific, pre-designed path you want your user to take while visiting your website. For example, if you want to track users who look at a specific floor plan and make a purchase, you could set up a funnel to track a series of events like “floor plans” > “check availability” > “select unit” > “start application.” The funnel exploration report will give you insights into where users are falling off in your desired funnel.
- Path Exploration Report – a free-flow user journey report that is not predetermined like the Funnel Exploration Report. The Path Exploration report lets you follow your user’s journey to see where they go and how they interact with your site. This is a great way to measure organic behavior and gain valuable insights.
Within Explore, there are several other Exploration Templates that you can take advantage of now, like Segment Overlap, User Explorer, Cohort Exploration, and User Lifetime.
6. Terminology
GA4 has adopted some new terminology that better fits with the event-driven data model it has adopted. By measuring events, we’re able to measure and track engagement on the site, so you might see terms like “bounce rate” going away.
The first term to keep an eye out for is “Engaged Sessions” meaning a session must last longer than 10 seconds, include at least one conversion, or includes 2 or more pages views.
“Engagement Rate” will replace “Bounce Rate” currently found in UA and will measure the percentage of engaged sessions on your website. For example, if you had 100 sessions and 70 of them were engaged (Engaged Sessions above), your engagement rate would be 70%.
What do I need to do to prepare for the switch to GA4?
1. Create a GA4 Property
As soon as possible, the first step you need to take is to create a new GA4 property and implement GA4 alongside your existing UA to begin data collection. This will allow you to gather the historical insights you need to measure your results over time when UA stops processing hits on July 1, 2023.
Most likely, you are already using Universal Analytics. The easiest way to create a GA4 property is to log in to your UA, navigate to Admin, and select “GA4 Setup Assistant” in the middle column labeled Property. This will prompt you to create a new Google Analytics 4 Property.
After your GA4 property has been created, the screen will prompt you to go to your new GA4 property, so let’s do it!
2. Implement GA4
The next step you’ll want to complete is implementation. You can implement GA4 one of two ways. You can add code directly to your website or you can implement GA4 using Google Tag Manager. Adding via GTM is very easy, so let’s explore that option together.
First, you’ll want to grab your Measurement ID from GA4 by navigating to Admin > Data Streams > Web. Copy your Measurement ID.
Open up your Google Tag Manager account and navigate to the correct container. Go to Tags > New Tag > Google Analytics: GA4 Configuration. Copy and paste the Measurement ID and set a trigger to fire on All Pages. Save your tag and publish.
Congrats! You have successfully completed the implementation of GA4.
3. Set Up Conversions
If you are currently not tracking any goals in Universal Analytics, you don’t need to worry about this step right now. If you are tracking goals, now would be the perfect time to convert those to conversions in GA4. This is also very simple and can be done from the Setup Assistant in your Admin view in GA4. Under Setup Assistant, look for the section labeled Property Settings and select “Set Up Conversions.” You will see a prompt that says “Import From Universal Analytics”
You will see the available goals to import. Click “Import selected conversions.” It may take up to 24 hours for data to start populating, but to view these new conversions in GA4, navigate to Configure > Conversions > Conversion Events.
Amazing work, you’ve successfully created, implemented, and imported goals into your new GA4 property. What’s next? Start getting familiar with the new instance and keep an eye out for more features and capabilities in GA4 overtime. Don’t worry, we’ll keep you posted.
In Conclusion
In summary, we’ve covered some of the key differences between UA and GA4 and the creation and implementation of GA4. We hope this gives you a better understanding of how to prepare and what to expect for GA4 in the upcoming year. As new features are released, we’ll be sure to keep you updated. If you have any questions about how GA4 will affect your real estate marketing efforts, we’d love to connect with you.
by threshold | Aug 12, 2022 | Design, Digital Marketing, Marketing, Tech/Web, Thought Leadership
Anooj Francis
How does website development impact lead generation?
Did you know that in today’s digital age, over 90% of prospective renters and homeowners begin their search for a new home online? Miles before most people decide to contact a realtor, online searches are the most common way to discover available properties. How are these properties found so easily? Strong website design and development.
When building a real estate website, there are two significant aspects to consider: your customers and search engines. When prospective customers search for properties, you need a well-optimized website to show up on Google or other search engines. Though, you can’t just leave it at that; you also need a well-designed and user-friendly website so customers can find their desired future home quickly and efficiently.
Additionally, websites are able to do the work when humans are not. Unlike landlords, property managers, and real estate agents, websites don’t have office hours. A prospective renter or homeowner could visit your website at any time, of any day, of any week. Let’s not forget, websites allow you the chance to brand your company as well as your properties. First impressions can be tough, but when it comes to having a well-developed website, the first impression of your property will always be a positive one.
Don’t forget, your website is a way for you to not only showcase your real estate properties but also your organization. Include a section that can showcase all of your accomplishments, and show why you and your properties should be chosen over the competition. Any awards, client testimonials, and other ways to (tastefully) brag on your success is a great way to subtly set you aside from the crowd.
Why is optimized web design important during website development?
Nearly 80% of prospective renters will sign a lease without ever visiting the property. You read that right – without visiting the property. What makes them so sure about making such a commitment? Having all of the information they need right at their fingertips. High resolution photos, videos, and offering virtual tours are more often than not the deciding factors for prospective renters when it comes to committing to a lease. None of this could be done, however, without an optimized website design.
When we talk about optimized site design, we’re referring to the design process that is used during development which allows the site access to prime optimization for search engines such as Google and Bing. It also covers the on-page SEO best practices designers and developers must follow when building websites.
Think about it: how can you expect to generate leads online without a website strong enough to rank on the first page of the SERP (search engine results page)?
Any traffic to your website that is not the result of paid advertising is referred to as organic traffic. These are customers who landed on your site after performing a Google search based on its suggested results. Referencing an article from Smart Insights, the top ranked search result receives nearly 40% of all organic traffic clicks, followed by the second result at only 18.4% – less than half of what the first listed website receives. The third search result? Only 10% of clicks.
Ask yourself: when you’re conducting your own Google search, where do you start?
Because there are an astronomical amount of real estate websites out there to choose from, the challenge for many website owners and developers alike is finding a balance between user-friendly and SEO-friendly websites. Many organizations have independent teams for web development and digital marketing, which – while often formed with good intentions – can sometimes further complicate matters if not handled properly.
While the goal of the digital marketing team is to ensure the site has enough content for Google to rank it effectively for user search queries, the development team focuses on keeping the visual and user aspects of the site as simple as can be. Collaboration is only possible in companies that know the importance of digital marketing even before the site is designed. At companies like Threshold, the marketing team and the development team work hand in hand to give valid inputs to be considered at the time of creation.
How does Threshold Agency develop well-optimized websites?
If someone is searching for a specific floor plan in your area, how can you ensure that your listing will populate first in the Google search results? There are a few ways we can help with that. At Threshold, we know high-intent organic traffic is more valuable than any other traffic form, which is why we develop highly optimized websites to increase search engine rankings leading to more high-quality leads.
During the discovery phase, the marketing and creative teams ensure that we are creating websites that work well and are easy for visitors to navigate so they can find the information they’re looking for.
The designers will then take that information and design the website based on the ideas evolved from the discovery phase. Included in this second phase, a writer from our creative team will develop the website copy, which focuses on the target audience and a high-intent, high-quality organic keyword strategy.
Once completed with the second phase of development, the designers pass on their design to the developers. In this stage, the developers ensure everything the designers envisioned is working effectively with the site’s optimization so as not to cross the search engine boundaries.
To give you more of a focus, here are a few areas that our developers make sure to optimize during the early stages of development that impact the final rankings of a website in a search engine.
Website Speed
One of the most critical factors of Google page ranking is website speed, simply due to the fact that no one likes a website that takes an extended period of time to load. Anything past a couple of seconds and most users will bounce to a new site. To help decrease load time, our developers optimize the file sizes (images, videos, scripts), only use trusted plugins, and use an advanced caching system from the host site.
Mobile Responsive Design
Based on an article from CNBC, in the next three years, 3/4 of the world will use mobile devices to access the internet. A responsive website ensures your target audience has a seamless experience whether they are browsing your site from a computer or mobile device. This also helps to boost your search engine ranking, seeing as Google promotes mobile-friendly websites above those that are only desktop friendly. With 3/4 of the world moving to only using mobile devices, can you blame them?
As the website is created, run data scans and collect metrics through each phase of the development process. This allows for any changes to the website’s design or coding to remain monitored.
Sitemaps
Even though search engine bots are brilliant, it’s a good idea for us to point them in the right direction, and we do this through sitemaps. Sitemaps include all of the indexable web pages and links on a website. If we have a sitemap declared in the robots.txt, the search engine bots will first crawl through those pages. Simply said, if search engines are not finding your pages, this means means that organic traffic won’t find your pages. And as we said earlier, organic traffic is the most important traffic you want reaching your website.
Accessibility
While getting customers to the website is the main focus of an optimized site, many forget that the website needs to be accessible by everyone. At Threshold, we use Google Tools and User Way to ensure the website meets all the accessibility standards. This means your site is easily ready and accessible for people with physical and situational disabilities, as well as socioeconomic restrictions on bandwidth and website speed.
Indexable Content
Nowadays, in the web industry, we say content is king. Search engines use more AI technologies to crawl through the entire content of websites. If it can’t be crawled, it is not an SEO-friendly site. It means the likelihood of that page appearing in the search engine results is very low. At Threshold, creative writers write content for the targeted audience, and developers use the WordPress editor to apply the content where the content is in HTML and is easily indexable by search engines like Google.
The key to creating a well-optimized site is to bridge the gap between web development and search engine optimization. The collaboration between various teams from the start ensures that your website is fully optimized for SEO and usability. Providing value for customers is the key to impressing search engines. Where there is high-quality content, strong on-page SEO and excellent user experience, you will improve your presence on the internet and increase qualified leads.
In Conclusion
As the need for strong digital marketing in real estate increases seemingly by the day, so does the need for having a well-developed website. Today, real estate website optimization is so much more than metrics on a chart, it translates directly into potentially hundreds, if not thousands, of new leads.
So, ask yourself: are you confident in your real estate website?
by threshold | Jun 27, 2022 | Digital Marketing, Marketing, Tech/Web, Thought Leadership
For some, real estate marketing can feel like a shot in the dark; throwing money at separate tactics, crossing your fingers, and praying to whatever deity you believe in that people see your ads and there will be a line of a thousand future tenants at your leasing office’s doorstep the next morning.
Fortunately, it doesn’t have to be that way. A Business intelligence (BI) tool leverages technology to allow your team to collect, prepare, visualize, analyze, and present your performance data across all marketing channels. These insights help inform several types of business decisions, allows you to optimize your budget in the most efficient way possible, and improves marketing processes and outcomes.
So why should your business invest in a BI tool? Let’s go over the main benefits a little more in detail:
Identify trends and recognize opportunities
With a BI tool, you have the ability to splice, drill down and analyze large amounts of data at the few clicks of a button. This gives you full visibility into your marketing campaigns as well as allows you to derive external insights such as current events and the economy that may be affecting performance.
With regular analysis of both campaign performance and external factors, your team essentially creates a self-optimizing feedback loop that continually improves your campaigns over time.
Determine how to allocate spend
It’s hard to know how to allocate marketing spend when your current view of your data is limited by factors such as time, metrics, attribution, or visualization features that prohibit you from extracting valuable insights. When using BI for marketing, you can assess which tactics drove leads—both in quality and quantity—and which tactics didn’t.
When you assess which strategies were effective and which weren’t, you can optimize your investment by shifting your budget towards the most effective methods and away from those that underperformed.
Understand your audience
As you begin to collect more data and create more robust dashboards and reports, you will begin to get to really know the types of future tenants to go after with your marketing efforts. Using BI, you can begin to understand your audience’s demographic characteristics, their interests, the technologies and platforms they use, and so much more.
This will give you a better idea of what messaging and imagery to incorporate into your ads that will resonate with your target audience.
Improve internal efficiencies
Not only can you use business intelligence to make your marketing spend more efficient, but you can also use it to detect inefficiencies within your internal processes. Project management tools often provide limited insights into how your company is spending its time and what it’s spending it on. Once you pipe the data from your project management tool into your BI dashboard or report, you will be able to extract custom insights around inefficiencies within your internal processes. As you uncover and address more of these insights, your marketing processes will become more efficient, improving your overall return on marketing investment (ROMI).
An advantage over competitors
There’s a good chance that some of your competitors are already leveraging business intelligence to identify and target the same potential tenants that you are. Investing in BI will not only level the playing field but potentially surpass them as well as any competitors who haven’t yet made that investment.
Revenue growth
Ultimately, leveraging a BI tool helps you drive revenue and reach your leasing goals faster. As you make better decisions and continually improve your processes, you’ll see improved results from your marketing.
Now that you understand the benefits, it’s time to go out and implement your tool of choice. Looker, Tableau, PowerBI, and Domo are all tried and true options. No matter what the tool, you’ll want to identify your goals in using it, set up processes for collecting your data from various sources, and begin organizing it into dashboards and reports for your team to analyze. Business intelligence is an ongoing process. As you extract more interesting and valuable insights, your reporting and visualization needs may change and you will continue working through these steps and refining your techniques.
Congratulations, your team can now begin to make truly data-driven decisions. The insights that were once difficult, impossible, and/or time-consuming to gain are now readily available at your fingertips. Your team is now able to take action much much faster on valuable insights, increasing your ROMI and leasing up your property in a much faster and more efficient manner.
