Ready, Aim, Fire! Targeting big data leads for Real Estate Investors.
For Real Estate Investors looking for leads, the risk of missing the mark is being reduced at a substantial rate as a result of big data. With the influx of available data increasing almost daily, businesses must build big data into their marketing strategies. This is especially true in the Real Estate industry and investors looking to take aim at viable leads. In a previous blogpost, we discussed some marketing strategies to focus on when using this big data.
However, big data represents only bits of information and in its raw form does not prove to be useful. As Professor Mark Willits was quoted as saying, “With big data, we get the right data at the right time and the right place, but without clarity we are stumbling blindly.” The amount of data can be overwhelming, like taking a spoon to a swimming pool to drain the water. You need to find a partner that can focus your efforts on viable target demographics both those you know you want, as well as those you hadn’t yet considered. Analyzing the available data, melding that data and creating modeling around the data is key to a successful campaign.
For Real Estate Investors it is no longer just the accessibility of foreclosure reports. Especially given that foreclosure data is particularly lagging. It can take months, even years for a lender to initiate the foreclosure process. So, while informative, by the time the data becomes available it’s too late to be of valuable to an Investor. Standard demographic data points including buying behavior, age, race religion gender, quality of life, should be combined with analysis models designed to identify vacant homes, absentee owners and likely financial stresses.
German researcher, Andreas Schleicher said, “Without data, you are just another person with an opinion. You can build better schools, expand your business and improve the world. But without understanding of the data, you are adrift at sea.” So, while it’s important to build a strategy of using big data into your overall marketing strategy that should include engaging a data company that can analyze and extrapolate the data for optimal results.
There is so much information that it is important to comprehend which data is relevant to you, as an Investor, as well as your customers to improve your decision making. It is necessary to analyze the data-sets when considering investing. Of course, like any marketing channel, data is not a magic bullet and should be considered a living, breathing element that requires evaluation and tweaking to provide optimal results.
To learn how Likely.AI can help you with optimized lists for you, the Real Estate Investor, Contact Likely.AI here.
From predictive modeling and complicated algorithms to deep learning and artificial intelligence, Likely.AI is a new-age lead generation tool which is changing lead quality expectations by identifying consumers’ likely real estate decisions before their decisions have been made.