With interest rates hiking and a quickly changing sales environment, we decided to look at how some of the industry leaders optimise Rex Reach (formerly Spoke) to ensure prospecting and buyer enquiries perform at a full capacity.
Taking REB’s Top 50 Sales Offices, we’ve crunched the numbers and done the math. Here are 3 ways you can set yourself up for success.
1. Consistency is Key
With a huge lead volume growth of 1249% within 12 months, Rex Reach (formerly Spoke)’s REB top 50 sales offices all show a level of commitment and consistency over time.
We often see these accounts being familiar with the performance trajectory of digital ads, they have an understanding of the importance of the long haul run.
It is crucial in ensuring your campaigns not only reach buyers and sellers you want to engage now, but also provide a constant brand presence across the sales journey.
One of the biggest pitfalls of digital advertising is that it’s so accessible, meaning we simply expect them to perform like a gold mine from the first campaign we place. We often hear success stories and try to replicate them only to find disappointing results. What’s rarely mentioned is that those success stories come off the back of persistence. Running a campaign long enough to let optimisation take place.
This is particularly evident with some of Rex Reach (formerly Spoke)'s highest performing accounts, they understand that to success with digital ads can require a few takes. The reason is simple, ads on Rex Reach (formerly Spoke) learn more about you and your target audience the more you advertise on the platform.
Similarly to how ads on Rex Reach (formerly Spoke) require a few days to learn which prospects are most likely to engage with your campaigns, those learnings are accumulated across every ad. The more campaigns you place, the more data points ad platforms have to target the right people from the beginning. What this really means is that the results compound over time and you see improved lead quantity and quality.
Where should I start?
It’s simple, the more listings or brand campaigns you publish, the better the results. An easy way to get started is by ensuring as many of your listings are published through Rex Reach (formerly Spoke), the more campaigns you place, the faster your campaigns reach optimal levels.
Standardising Rex Reach (formerly Spoke) in your VPA offering is an easy way to do this as it gives you the ability to not only enable lead capture that aids in the selling process but also get your brand out there without having bearing the cost directly.
If you have trouble selling Rex Reach (formerly Spoke) to vendors, we do have vendor collateral you can use, which you can download here.
2. Leverage Volume
High performing Rex Reach (formerly Spoke) users see opportunities in ensuring both agents and the agency's brand maximises their exposure. It's not just to find new ways to list properties, but to also extract the ability to maximise brand exposure.
List to prospect, that really is the mantra of our top accounts. Every seller starts as a buyer and staying top of mind as the expert to those buyers who will eventually, be sellers, mean you’re the obvious choice when they finally decide to sell. By increasing your listing volume on Rex Reach (formerly Spoke) you are not only reaching both buyers and sellers, but keep the brand in the spotlight.
Look at it this way, instead of paying for a sign on a bus stop that’s only visible to those that frequent the stop, advertising online means your brand reaches where people are more receptive with fewer distractions. Not to mention the fact that you reach more people than you ever would on a bus stop, for a fraction of the cost.
Where should I start?
The first thing is to look at what other opportunities you could create for your brand to engage with your target market. As an example, listing through Rex Reach (formerly Spoke) reaches people outside of the listing portals. Making it a great way for you to reach both buyers and sellers.
Instead of limiting yourself to those likely to engage with your letterbox drops, you can actually reach everyone within your patch.
3. Invest in Your Brand
We’ve spoken a lot about brand awareness, but this is because one key themes across all high-performing accounts is that they focus on their brands. This isn’t rocket science, brand building is the one key element to long-term growth. For them, it’s all just a numbers game.
Think of it like this; if 6% of the properties are up for sale within a patch each year and you are able to sell 5% of those properties, your sales can only be increased through improved market share, which requires engagement far before someone decides to sell.
This is because sellers often already have an agent or agency in mind before they even sell, and if they don’t, you are likely fighting amongst a pile of other agents or agencies with seemingly similar messaging.
Sellers are buyers at some stage, and as such, taking the opportunity to build long-term relationships means you have the ability to create compound growth by giving your brand the right exposure as the buyer steadily progresses to become a seller.
It’s important to remember the motivators of sellers, they don’t just want a great sales result, but they also want to trust that you are the right person to handle what often is the biggest transaction in their life, and that trust is rarely built over a letterbox drop or appraisal booking, it’s been a far longer process.
Where should I start?
Give your brand access to other parts of the funnel, not just the bottom end when vendors are ready to sell. By understanding typical questions and challenges across each part of the funnel, you can quite easily start creating relevant content that allows buyers and sellers to engage, in turn, building your brand awareness and trust.
This is where Rex Reach (formerly Spoke) plays a central role for a lot of agencies where content might be scarce but you want to leverage your listings to reach buyers and sellers across the funnel.
Listings are great as they provide content that’s relevant for sellers, no matter where in the selling process they might be. Beyond that you can also look at setting up 'just sold' listings within Rex Reach (formerly Spoke) which allow you to use sold listings to advertise the sales result whilst also giving your brand another engagement across the funnel.
Once you’ve set up your basic touch points, you can continue building out more content and open up new channels where you can engage your market further, within Rex Reach (formerly Spoke), this can also be done by setting up appraisal campaigns, competitions or to share market reports.
It goes without saying that top agencies aren’t just focused on vanity metrics like enquiries or clicks and impressions. They leverage digital marketing to create meaningful interactions with their markets which in turn allow them to create relationships that finally result in a transaction.
There is a clear focus on the long game rather than just quick wins, letting them create growth beyond current market opportunities. By giving a higher emphasis on the full selling process, from buying through to selling, you will eventually create spirals of continuous business.