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Don’t Forget Email Marketing!
Presented by: Matt Goyer, Redfin@mattgoyer
July 13, 2010, Real Estate Connect SF
Don’t Get Caught Up With Social Media Hype
Redfin Survey, 450 site usershttp://bit.ly/FacebookNotTwitter
Classmates
MySpace
No social networks
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
3%
8%
16%
19%
44%
73%
100%
For Redfin: Email > Social Media
Redfin’s #’s:• Facebook: 1,100 fans• Twitter: 4,571 followers• Blog:
– 1,400 email subscribers– 200 page views/day
• Email newsletter: – 210,000 subscribers, growing 250% year-over-year– 15-35% open rate
• Alerts for new listings: millions of emails a month
5 Things to Get Right
1. Do It For the Right Reasons
• Have a clear goal– Build trust by telling it like it is
• Know your audience– 25-45 year olds, net-savvy, highly educated
• Commit to a schedule– Twice a month
• Don’t spam, make it easy to unsubscribe
2. Pick the Right Tool
• Will it integrate well with your site & blog?• Can you personalize your mailings? • Can you test different subject lines?• Can you figure out what’s working? Is it easy-to-use?
• Recommendations:– MailChimp– Whatever you use now for email
3. Make It Easy to Signup
• Prominent sign-up box on your site & blog
• Landing page describing what you get, links to past ones
This is something we have not done well!
4. Test, Improve, Repeat
• The basics– Proof read– Check all the links– Does it look right in every email client? (Check
out LitmusApp.com)• Getting fancy
– Best time of day? (Afternoons)– Best day of the week? (Undecided)– Subject lines? (Catchy!)
5. Get The Most Out of It
• Post to your blog• Then link to your blog post from:
– Facebook– Twitter– Website
• Make it easy for promoters to share• Respond to replies & comments
Proof Email Marketing Works
“Great job to the Redfin team for the stats on the current market. As a consumer, I appreciate that Redfin has a policy of being open and honest with information and data; a good contrast to [removed]. In fact, I would now say that this transparency is now a bigger motivator for me to use Redfin for my purchase than the 1.5% refund.”
- Seattle Redfin Customer
Industry vs. Redfin NewslettersOpen rate Click rate Unsubscribes
Real estate industry average
22.84% 4.24% 0.30%
Redfin May Report(Seattle)
30.86% 0.94% 0.30%
Redfin June Case-Shiller(National)
18.38% 1.22% 0.20%
Real estate averages from MailChimp report: http://bit.ly/EmailBenchmarks
Thanks!
Email: [email protected]
Twitter: @mattgoyer @redfin
Blogs:http://activerain.com/blogs/mattgoyer http://blog.redfin.com
