[Updated Data – August 2020] How Has Lead Generation Changed During COVID-19 for Real Estate? – Exclusive Data and Action Plan
The COVID-19 crisis is impacting all of us in some way, shape, or form. So what I wanted to dive into is what data we have in our system with over 10,000 real estate investor and agent websites. What data are we seeing right now and how the lead flow has been impacted by COVID-19 for real estate buyers and sellers? [Updated August 6] New Data Pointing to Conversion Rate Increases New Research There has been a clear shift towards new lead generation, and how our members are acquiring those in the past two months during the COVID-19 pandemic. According to our Google Analytics data, when comparing April and May to June and July, there has been a conversion rate increase of 10.92%. Paid Search has seen the largest shift, jumping 39.48% over the past two months. Compared to what we reported in April, it seems paid traffic has begun to normalize. Sessions are coming down as more people are feeling confident in the house selling process. Here are the numbers for the eight common channels: Organic search: 3.21% increase Direct: 7.84% increase Social: 10% increase Paid Search: 39.48% increase Referral: 21.23% increase Email: 36.72% decrease Other: 0.26% increase Display: 21.43% decrease In May, our data was showing sessions steadily increasing: We also saw conversion rates have begin to increase since a dip in mid-April: Here’s what one Carrot member said recently… Overall traffic from all sources has continued to increase week over week… meaning there is more demand right now for buyers and sellers needing solutions to their problems than before. Conversion rates stayed low for a few weeks but are now on the uptick as the overall sentiment in the US is improving and people are starting to get out more. Predictions: I predict once the stay at home orders lift we’ll see conversions go up above where they were for a short period then settle into normal zones. Double down on why it’s important to NOT stop your marketing even if lead costs are higher from lower conversion rates… because the people are still searching… so you need to be getting content in front of them NOW while they’re researching and followup w/ them through retargeting so you’re in front of them when they’re ready. This should create a surge in demand once stay at home orders lift… but only those who stayed in front of the market will capture that demand. Additional COVID-19 Articles: What The Coronavirus Pandemic Means for Agents & Investors & Why We’re Doubling Down The Coronavirus Podcast Series: For Real Estate Investors & Agents How to Win with Content Marketing During COVID-19 | Playbook Emerges I pulled up our own Google Analytics account, which is a master account for all of our member websites that are generating the top rankings in Google for motivated house sellers. So we have crazy, crazy cool data from every major market in the country. The first thing to notice is a report from March 1st through the time that I’m diving into this data, which is April 7th. Number one, we’ve reported this data in the past, Monday’s tend to be the hottest time when your sellers and buyers are hitting the internet to search. Now this includes Google searches. It does include some direct search, where people are typing your URL directly, but mostly Google search and Google pay per click. When people have that pain point the most, is your Monday or Tuesday. Monday and Tuesday have the highest demand for searches. Now here’s one thing that we saw as soon as the stay-at-home … Continued