Best Practices

Taking advantage of new rich media and data features on NewHomeSource and Move New Homes websites leads to double-digit increases in performance for builders.

Austin, TX – October 12, 2011 – Builders Digital Experience (BDX), a leading provider of digital marketing solutions for new home builders, today released the latest performance details for the company’s flagship websites, NewHomeSource and Move New Homes showing significant increases in leads and click-throughs for builders.

BDX recently launched new versions of NewHomeSource and Move New Homes, the #1 and #2 new home websites[i]. The new sites create a more useful and useable home shopping experience and feature a host of rich media upgrades including larger images and video galleries. The BDX sites also allow builders to highlight hot homes, promotions and spec homes for consumers. The company analyzed builder data across the two new sites and found that the builders who were taking advantage of the sites’ rich media and data features saw dramatic improvements in performance over those who didn’t utilize the enhancements.[ii]

[i] comScore 2011

[ii] Study based upon Newhomesource.com website and all communities published during the study look-back period of June and July 2011 . Performance statistics, by community, were correlated to counts (“completeness”) of certain data, such as descriptions, pictures, videos, promotional text and other data assets.  The findings represent the percentage gains in lead and click-through performance of those communities having the desired data or with the data present in larger quantities, versus those with lesser amounts or absent data.   BDX considers these results to be significant and representative of the average performance gains that could be achieved by those builders who currently have none or little of the data now, if such data was provided in the future.  As with any correlative study, there may be other unknown factors that account for the results seen; and BDX does not guarantee specific results for any builder.

 

Blog Post From Tim Costello: CEO, Builders Digital Experience

I was visiting Summit County, Colorado a few weeks ago. While it may not be Las Vegas or Riverside, CA, the market is in a slump none-the-less. It is plagued by the same components of housing malaise as the rest of the nation — too many homes for sale, foreclosures, short sales and just not enough well-heeled buyers to keep things going. Prices have declined dramatically and inventories remain relatively high.

Yet as I rounded the corner of yet another high-end community with For Sale signs on what seemed to be a quarter of the properties, a new home under construction came into plain view. It was so shocking; I had trouble comprehending what I was seeing, kind of like seeing an elephant in the middle of a highway. But there it was a bustling site of activity reminiscent of the pre bubble economy.

At first, I wondered if it was some builder’s final desperate folly. But then as I stared at it and studied the home, the genius of it all began to sink in. This was not just another house, this was a “new home”, highly differentiated and with features that are completely unavailable on the current market. This was not only the only home of its type in the neighborhood but one of only a few such homes in the entire county. This home was “green” from the ground up, with solar PV and hot water to boot. This builder was not building another house; he was building the first house of its kind.

And therein lies the genius of it all, if your market is saturated and demand is slack then change your offering to create your own “blue ocean” strategy, where you compete alone and harbor all demand. The building industry has a unique and compelling advantage to other industries, in that we do not build standard products. Of all the industries I have studied over the years, homebuilding has the most latitude to course correct and change its offering year to year and even month to month.

If the home building industry wants to regain its momentum without waiting for “absorption economics” to play out, then it had better change the game. Go back to the drawing board and build a product that does not compete with the current market. Borrow a card from the auto industry and create planned obsolescence to drive demand and create profound differentiation. The future of the housing market may depend on it and the country as well as consumers will certainly benefit from it.

Everyday we have discussions with builders about online marketing performance. From setting benchmarks to ongoing measurement, our experts can provide unique insight into a builder’s online marketing iniatives. One of the most common questions we receive is — What can I do to improve my performance? We always start the discussion with builder data — what elements are you including with your listings and what can you add to make them even better. We recently performed some analysis on builder data across the BDX network and below are some of our findings. Here are our top five ways to see a lift in your leads and click-thrus.

Download: Improving Performance Whitepaper

Did you know that including hot homes for your communities can increase your leads by 17%?

Maybe you already know you should be adding Hot Homes for all of your communities, but you’re running short on ideas. I mean, how many ways can you say “fantastic” or “special”, right? Maybe you’re struggling for ways to promote a home plan as “hot”. Or what can you say about a spec other than that it’s “gorgeous” or “ready to move in”?

New Home Source, Move New Homes and our distribution partners bring in the prospects, but what can you say that will motivate them to take action? … To make that leap from viewing results, to clicking on your listing–to asking for more information?

The key is to communicate scarcity or exclusivity – or better yet, both. You want your prospect to feel like they’ve found your home or community just in time and need to act fast; or to know that your product is their only choice to receive the promoted exclusive benefits.

To get your creative juices flowing, take a look at these example Hot Homes listings:

Got Specs?

  • Best lot, same price. Hurry, this just-finished Clark plan is on a giant corner lot
  • Lovely, mature trees grace this just-built home in Ranchland Villas
  • Just Reduced to sell fast! This home won’t last long at this price. Come talk to us about this home and two other just-finished inventory homes with special pricing

Plan Homes?

  • See the jaw-dropping pictures of this plan. Shows like a model…because it is! Come tour our exquisitely decorated model home today.
  • Exclusive alcoves and architectural features. This plan features unique details not usually found at this price
  • The Geneva, Lowest cost per square foot offered in Sunset Estates. Terrific value for a ton of family living space.

Lots?

  • Only one more Golf lot! And this plan has just the right patio setup to take in the view
  • Closing Out! This is the last, Eklund to be built in Copper Junction. 3-car garage for your boat, RV, or workshop!

So get started today! As always, if you need help or training, we’re an email away at support@thebdx.com.

—————————————

Paul Gruber, Senior Product Manager, leads product planning and development for BDX’s Consumer Products and Websites including www.NewHomeSource.com and Move New Homes

Almost every day I receive a phone call from a potential home buyer looking for information on a new home they found while shopping on Realtor.com.

This morning it was a man looking for a home in Wesley Chapel, FL. Yesterday it was a woman interested in a home outside of Philadelphia. I find this surprising because the only way the consumer can find my phone number is by leaving the listing and selecting the Contact link for corporate information.  I know they’d prefer to call the broker but they can’t find the broker’s phone number, email address or website. These potential home buyers are forced to find another solution and I can hear the frustration in their voice when they finally end up talking to me.
Working in an industry that is always trying to maximize site conversion and improve lead performance, I find this surprising. How many customers do you know who will take the extra steps to find an office phone number?  Most will simply leave and move on to another home that’s more accessible.  Those who continue to search and ultimately call the wrong place are probably the very consumers that the builder/broker really wants to reach. Clearly, they’re motivated and looking for information.  It makes me think of all the homes that don’t get sold because we make it hard for the consumer to connect with us.

Realtor.com offers builders and brokers a product to remedy this. Their Company Showcase listing is the easiest way for a builder to enhance their listing and drive more meaningful activity to their onsite sales agents. It’s an essential and affordable solution for anyone listing a home on the MLS.

Listings that are “Showcased” have a number of benefits over standard listings. Most notable is Contact Information above the fold and prominently displayed. With a Showcase listed property, consumers can call, email, visit a builder’s website or complete the lead form.

Other features include the ability to display up to 25 photos per listing– 4X the number of photos displayed on a standard listing.  Showcase listings also allow builders to include links to their social media sites and include a Rider Sign on the Search Result Listing Pages.

The Rider Sign allows builders to brand their listings on Search Result pages by prominently featuring a logo and headline on each listing. Since Realtor.com is the largest real estate website in the world and endorsed by the National Association of Realtors this feature alone provides tremendous value. It means your listing and business will be seen by more home shoppers than anywhere else.

I know many builders are always launching new sales promotions and offering discounts to entice buyers.  Could the solution really be as simple as including your phone number and email and making it easy for the consumer to call you?  After all, they were already on the world’s largest real estate website shopping for homes in your market and price point.

If you have questions about marketing strategies or advertising with BDX contact Thane Tennison, Advertising Manager for the BDX Network.