September Meredith’s Metrics: Playing the Mindset Game
Football season is back, and so is Meredith’s Metrics! At Meredith Communications, we actively engage with approximately 60 – 65 home builder websites per month to compile a comprehensive analysis of website data and digital marketing analytics from across the country.
This month, we are joined by the co-founder of Lasso CRM, Dave Betcher. In honor of the return of America’s favorite sport, we will conquer these important data points together as your New Home Sales Game Day Coaches.
Let’s Talk Numbers
On average, over the past few months, we experienced a continuation of a cooldown period. In June, website traffic was down 9% in comparison to May and 12% compared to the previous year. Throughout August, we experienced a 2% decrease in website traffic month over month and 12% year over year.
Additionally, goal conversions—website traffic that results in leads, including emails, calls, live chats, or any interactions with your online sales counselor—were down a whopping 40% year over year. This piece of data is a definitive sign that steps must be taken to make an active, intentional change.
Playing for Different Leagues
While we all are playing the same game of homebuilding, it’s important to note that the rules of play vary slightly from state to state. Yes, these numbers may appear alarming, but they are, in fact, an average created from the data of builders from across the country. Trends will vary depending on geographic location, prospective demographic, and migration patterns to your region.
For example, the West Coast, specifically California and Arizona, hasn’t felt as much the impact of this cooldown period as the East Coast. There is guaranteed to be a bit of variety depending on certain factors of your market.
What’s at Play?
Though website traffic continues to trend downwards, the quality of these visitors remains the same, if not better. On average, visitors spend 3 to 3.5 minutes on the website. This indicates that the people visiting these websites want and need to move in.
Since the overall volume is lower than in the past, it’s important that we take the time to fully understand what must be done to move these quality prospects further down the sales funnel. Taking a moment to analyze the sales process in comparison to how long online buyers typically take to buy could make all the difference in your lead generation.
At the end of the day, it’s all a mindset game. You have to fight for every single registration. When that whistle blows, the result of the game isn’t as important as what you learned and how you can utilize that knowledge to enact change.
This data is more than just numbers: It can help provide you with a clear play-to-play game plan to grow and flourish in this industry.
We look forward to seeing you at our next Builder Town Hall! Mark your calendar and register today for our session on November 4. In the meantime, be sure to join our Builder Town Hall Facebook Group and keep the conversation going!
Categorised in: Analytics, Builder Town Hall, Home Builder Marketing & Sales, Meredith's Metrics