Our data analytics services consist of data mining, big data, segmentation, time series, predictive analytics, dashboards, interviewing, focus groups, consumer surveys and experimentation.
Data analytics is a high level of statistical analysis of internal and external data used to answer questions to specific marketing problems. We have a marketing Ph.D. on staff to work on your most complex marketing problems.
We use an enormous number of quantitative analytics tools to analyze the market, consumers, and competitors. Our Data Mining solutions take a deep dive into analyzing internal consumer and agent databases to leverage insights about events and behavior that affects performance. We work with your KPIs to identify variables in your data that influence or help predict outcomes. Using advanced statistical tests, we compare outcomes based on activity, behavior and sales to determine factors that predict success. Data driven organizations are more agile, more competitive and more transformative.
A study by McKinsey & Company suggests data-driven companies are 23 times more likely to outperform competitors in acquiring new customers and 19 times more likely to achieve above-average profitability (Hoblitzell, et. al., 2018). However, 72% of Companies have not created a data culture in their organizations (NewVantage Partners, 2019).
Big Data Solutions take live data to the next level. Traditionally, we analyze data using statistical algorithms in a static spreadsheet such as Excel, or SPSS. With Big Data, we have data coming in as a stream. Streaming data may be collected by the minute, hour or day. Whatever the case, there may be essential KPIs which can provide valuable insights in real time. Instead of downloading and analyzing the data in a spreadsheet, we develop the algorithm using R or Python to allow a program to collect information from a live database that is collecting a stream of data. The program then directs a flow of data through the algorithm to conduct analyses as the data is received. From there, we are able to customize Dashboards (desktop, or mobile) that will allow you to track various KPIs and measure your business activities with real time data visualizations.
Segmentation, Targeting and Positioning Strategy – Segmentation is the process of dividing your audience to identify only those who are likely to purchase your services. The audience for real estate is different in every market, and every sub-market. What is the buyer looking for? How much do they want to spend? Where do they want to live? These are all important questions, but perhaps an even more important question is: “Which segment of customers do you want to reach out to and have reaching back to you? Segmentation is essential to online marketing performance. In fact micro-segmentation is the mainstay of ad targeting. Online to Offline traffic generation is a common goal utilizing segment analysis, specific targeting and event marketing for open houses, customer appreciation, or a Parade of Homes type of event.
Do you want to know how your customers feel about your services? How you might be able to improve those services? Or do you want to ask them quantifiable information about their interactions with your agents? A customer survey can provide insights about how you are doing as a service provider. Do they like you? Do they want to do business with you again? Would they recommend you? Do they know of a friend, family member, investor or another company who is interested in buying or selling? Ask them for a quote about how you did? Did they enjoy working with you? Why did they choose you? What sets you apart? Customer surveys can deliver significant insights about your customers. Have a question for your customers? We’ll show you how to ask questions to maximize response and gain actionable value.
Experimental designs help define the appeals, ads, templates, audiences and budgets that work best for your objectives. We can do pair by pair comparisons of every ad and post to see which types of marketing communications work best. We will conduct split samples on your ad audiences to identify buyers and sellers, and we can use data about your site visitors to re-target and adjust re-marketing budgets and time periods to keep putting your ads in front of potential customers for periods of 30, 60, 90 or 180 days or longer depending on the client’s time frame to take some pre-defined action (i.e. listing or buying intent). We refine and improve your communications based on performance measures including views, cost per click, lead quality, customer feedback and sales outcomes.
Often our research is based on Focus Groups. Agent and team based Focus Groups can be valuable for extracting activities and behaviors that drive your top agents earning capacity. How can this information be harnessed and taught to other agents? In addition, your high value clients can provide a wealth of information. Companies that are working with you consistently want to see you do better and are typically more than willing to participate in focus groups (either in-person or virtually). Not only do we gain significant insights but focus groups also tend to create a bond over improving pipelines between client and service providers.
With the advent of advanced digital marketing analytics, some analysts have predicted a decline for use of the focus group, but the reality is that while a good algorithm can identify relationships in data, the data analytics can’t explain WHY! Companies spent $2.2 billion on Focus Groups in 2017 to answer the WHY behind the data.
We can also glean a wealth of information from top performers and high value customers through Structured Interviews. We will conduct structured interviews by phone to gain insights from your best performers, as well as your high value clients, tenants, or investors to evaluate how they are working together with your representatives, and the value customers are receiving from your services.
Have you ever though it would be interesting to see what people are saying about you on social media. There are multitudes of unstructured sources of data – essentially text. Pull insights from social media posts, blogs, websites, articles and more. If your company is mentioned, we can analyze it. Are men saying different things than women? Are there positive or negative sentiments? Can those be influenced through marketing?
Data analytics is a very personalized process. An in depth study of your business is necessary to develop an analytics plan.
Data analytics can be set up for a single platform or project or can be a multifaceted tool used across your company for a comprehensive view of your prospects and clients marketing psychology.