Meredith’s Metrics: Too Hot To Handle
It’s time for Meredith’s Metrics: the segment where we talk about numbers and what to make of them! At Meredith Communications, we strive to create FANtastic digital marketing for FANtastic builders. Our mission is to help builders utilize digital tools to connect with builders and provide them with the best possible home buying experience.
A massive part of successful digital campaigns is understanding how they perform. At Meredith Communications, we take the time monthly to pull data from the 70-100 builder websites we monitor, manage, and discuss what it all means. So let’s get to it!
Overall, the outlook is hot, hot, HOT! The January metrics were some of the best numbers we’ve seen in quite some time. January 2023 had the same number of total website visits as April 2022—the best-performing month of last year.
Total traffic was up 32% from December to January. First-time visitors also increased by 28% month over month. While these numbers could have been expected as buyers returned from the holiday dip, we also saw a significant increase year over year. First-time users increased a whopping 33% from January 2022 to January 2023.
This month, we took a look at a different set of metrics. In addition to website activity, we dove into keyword search activity. This information is invaluable in our understanding of what consumers are looking for.
From November 2022 to January 2023, “homes for sale” has been included as a search 22% more frequently. In addition, the term “home builder” has also been used 30% more in Google searches.
So What Does This Mean?
Despite rising inflation and interest rates, these metrics prove there is hope! It seems buyers returned from the holiday haze, dusted themselves off, and decided to accept the state of the economy for what it is. However, they still have to buy a home despite the market, thus increasing traffic.
In addition, many of our builders began offering price improvements, including incentive programs, rate lock packages, and price reductions. As a result, buyers feel more comfortable about the risk associated with approaching this life-altering decision.
Share Your Successes!
Success is so much sweeter when you have somebody to celebrate it. So, as these metrics take a turn for the better, let us take a moment to celebrate the little victories and encourage each other to keep on trekking!
Join the Builder Town Hall Facebook Group to share your successes with other industry professionals. We can’t wait to hear from you!Tags: Google Analytics, Home Builder Marketing, KPI, Metrics, Website