Another year old and another year wiser so these weekly write-ups should be gettin’ real good. As is so often the case, reading these combined with presenting our monthly client reporting leads to themes that unfold and present themselves in such an obvious way that they might as well have knocked me upside my head.
This month’s themes are rising digital ad costs, nurturing existing leads, buyers, and relationships, and first party data. This week’s news puts itself right into those boxes very neatly.
This is my new fave buzzword in digital marketing. It makes my heart skip a beat and it checks a lot of boxes. Customer Data Platforms keep track of all the first party data that you gather and allow you to use it to execute more effective marketing campaigns. Take a look at some of the benefits of investing in a CDP here.
One of the interesting things about a CDP is that while you can buy a preexisting solution, you can also build your own. And since we all know that home builder marketing is a unique beast, this option is super intriguing to me. Wouldn’t it be amazing to have access to your first party data in a way that makes sense specifically to a home builder and their marketing funnel. Ecommerce is typically what is considered when I read about CDP’s but relating information back to how a home buyer is interacting with your digital assets is critical to shaping the future of your business. Imagine the possibilities of knowing specific stats on the square footages, bedrooms, amenities and features that a potential buyer is interested in and then using that information to send targeted and personalized drip campaigns to them. Or knowing specifically that your new buyer came to your website first through a Facebook ad and then took 6 months to sign the contract. The possibilities are endless.
Of course the number one reason that CDP’s are on the brain these days is because of the loss of third party cookies, specifically on mobile phones (cough, cough, iphones to be exact). Using a CDP can help combat the data loss and keep your mobile marketing targeted.
Not only can these help with personalized and segmented marketing, they can also play a critical role in nurturing existing leads.
HAPPY HOME BUYERS
The buyers that love their homes and are happy with the process, are more likely to buy again, and also to refer you business. CDP’s and things like buyer portals, can help to ensure that the buyer who signed a contract is nurtured and communities with through the move-in date on their new home so that they are happy home buyers. This is the theme that we’ve been honing and refining over the last several months. What information do you need and what tools should you use to ensure that every qualified lead and buyer is made to feel special and cared for in a way that makes them want to leave a glowing review on Google and tell all their friends what a smart decision they made when they bought their new home. It’s more cost effective to invest in these people than it is to look for new customers.
They don’t go as far as they used to and it’s not letting up. Between increased ad demand driven by the holidays, and an overall increased demand thanks to an increase in online businesses, Facebook and Google ads have increased in cost more than 100% since this time in 2020. Yikes! And it’s not just our clients that are feeling this, it’s a universal trend. For the most part, there’s not much you can do about it other than be aware that for the foreseeable future you’ll be seeing fewer impressions, clicks, and goal completions from your paid digital efforts if your budget remains the same.
If you’re as into the CDP idea as I am, drop me an email and we can geek out and talk about it. It’s definitely worth your consideration as it ties into basically every facet of your marketing efforts.
As always, thanks for reading. Have a great weekend!