With millions of emails running through our platform, we decided to take a look under the hood to see what we could deduce from the data.
We analyzed 12 months worth of anonymised email data to understand what the email benchmarks are for real estate and how our users compare to broader email marketing standards - spoiler alert - our users outperformed the historical benchmarks in almost every metric!
We compiled the results of the analysis into a report - The Email Marketing Benchmark Report. The data was broken down into three cohorts, which formed three separate reports so that readers can compare their results to their peers.
Download the report relevant to your location below:
Without further adieu, let’s take a look at all the interesting things we discovered!
Database size - does it matter?
The average real estate agents’ database size was:
- United States: 1153 contacts
- Australia: 2823 contacts
- New Zealand: 1245 contacts
Australian real estate agents had bigger databases than those in the US and New Zealand. But does that matter? As the cliche goes - what really matters is quality and how you use it. This is true - if you’re not nurturing those contacts or if they are mostly junk email addresses they’re not much use to you, obviously.
However, there is some merit to having a bigger database. According to CoreLogic data, 4.5% of the property market transacts each year. If you take your database as a sample of the homeowner population and apply that percentage to your database, it’s obvious that the bigger your database, the more likely you are to capture some of those property transactions (provided you are properly nurturing your database).
Here’s one way to grow your mailing list with ActivePipe.
Engagement rates
ActivePipe users outperformed the global averages by significant margins in every region. The average global open rate according to Campaign Monitor is 18%.
- United States: 27.3% average open rate
- Australia: 27% average open rate
- New Zealand: 29.9% average open rate
Click rates across the regions were even higher with each region boasting at least double the average click rate of 2.6%!
ActivePipe users are able to achieve these high engagement rates due to the built-in algorithm that recognises changes in behavior and ensures that automated campaigns focus on only emailing contacts that are engaged, and unsubscribing those that are not. That’s one of the key differences between ActivePipe and more generic email software like MailChimp or CRMs - we’re about nurturing leads for agents, not blasting email lists.
Leads & best practices
The report discovered that ActivePipe users in Australia alone received more than 458,000 leads from their campaigns representing an estimated $6 billion in agent sales commission nationally. It shows that real estate agents are using the platform to successfully nurture relationships with current and past clients and potential prospects, and they are reaping the rewards.
The report also identifies that a typical Australian agent using the ActivePipe platform generates an average of 34 leads a year through their email marketing. The average leads number is based on our system-wide data but we know from our case studies that top performers utilising our real estate articles and market reports are getting significantly more leads than the average.
To discover more detailed lead stats and to uncover what the best practices are that enable those agencies that get the best results - download the report.
Download the report relevant to your location below:
