How Can Data Help Developers?
A wise man once said without data, you’re just another person with an opinion.
While this rings true and is paramount for the property and construction industry today, many developers are still not tracking and leveraging their data to its fullest potential.
For property developers, in particular, data holds immense significance in providing valuable and accurate insights that will ultimately lay the foundations for future decisions that will impact profit margins, customer experience and future developments.
Is your data providing the best insights?
When we think about the data we record, we think about Google Analytics and our CRM databases, and rightfully so. For our website traffic, in particular, we heavily rely on the data recorded to support our marketing strategies.
But what if I told you Google Analytics is missing significant data that could change how you shape your property marketing strategies?
Here’s how.
Google Analytics Can't Track Your Interactive Content
Within the property and construction industry, interactive marketing content such as 360 Virtual Tours, Virtual Showhomes and Configurators has become increasingly popular.
Whether it’s to accelerate the marketing process of a development or get a head start on revenue generation by selling off-plan, interactive content is proving popular and highly valuable within the industry.
But the value of interactive content doesn’t end there. It can also provide invaluable data to marketers with the right data tools.
What Data Can We Extract From Our Interactive Content?
While tools like Google Analytics cans crape the surface with average overall duration times and bounce rates, it fails to provide in-depth insights into our most powerful content.
With the right data tools, property marketers can extract greater insights that will shape how we market our individual house types and developments.
So what data can your content provide you with?
Let’s take a look…
Capturing Data From 360 Tours & Virtual Showhomes
Individual House Type Session Data
One failing of traditional analytic tools like Google is their inability to track data from individual house types within interactive content.
With the right analytic tool, you can capture session data such as average dwell time and number of total sessions per day for each individual location. This not only makes it easy to identify which properties will sell themselves, but it helps to identify sticky plots sooner that may need additional support selling.
Over time, the data captured will soon reveal common trends across developments. From which house types are commonly becoming sicky, and those that require less marketing budget to sell. With this level of information, marketing and planning teams can make informed decisions for individual house types.
Door Hotspot Data
Within certain 360 Virtual Tours, you will have the ability to step into a Virtual Showhome.
If you’re unfamiliar with Virtual Showhomes, they are exactly the same as your exterior development tours, but inside each showhome
With certain 360 Virtual Tours, you will be able to step inside each individual showhome to continue your tour. With an analytic platform built for property marketing, you can see exactly how many users opted to step inside that virtual show home.
This data can indicate the curb appeal and provide an accurate insight into which property on your development is receiving the most and least attention.
Capturing Data For Housetype Configurators
For developers utilising Housetype Configurators for post-reservation selections, you can gain insight into every event taking place within the system. Whether your customer is customising a kitchen countertop or flooring options, you can track what upgrades are being selected in every location in the home.
This data not only helps you to evaluate which upgrades are being selected the most frequently, but it will also calculate conversion rates and the average total of upgrades chosen per session. Giving you greater insight into how your upgrade options are performing and which options need reviewing more urgently.
Property Data Matters
The data we gather plays a pivotal role in providing precise insights into our business and the industry at large. Devoid of accurate data, our ability to make well-informed decisions falters. This deficiency in accurate decision-making, in turn, hinders our capacity to optimise and market developments effectively and cost-effectively.
If you want to start harnessing your data, contact us today.
