In our ongoing Pay Per Click experiment, we'll be reporting the data from May 1 to 15 - with some very interesting results. If you'll recall, in May we changed our registration settings to "Forced After 2 Views". You'll see, this small adjustment has resulted in a noticeable change in our leads.
PPC Stats from May 1 - 15, 2014
Compare this to a similar time frame 1 month earlier:
PPC Stats from April 1 - 14, 2014
Although our conversion rate has dropped to almost 5%, it is still an impressive turnover. It indicates that folks are taking their 2 free views and sticking around long enough to register.
The leads have dropped dramatically and the cost per lead has increased, but this is due, in part to our increasing the bid amount from April.
Quality vs Quantity
During this study we've been looking at my leads originating from pay per click only, but when you take into account overall leads from both PPC and organic sources, we have some interesting results:
April 1-15 - We had over double the amount of leads with only 20% resulting in some sort of inquiry (i.e. Contact Form, IDX Inquiry, etc.)
May 1-15 - We had significantly less leads, 40% of which resulted in an inquiry. There were almost the same amount of inquiries in both periods.
It looks as though, no matter what the settings, if a user is interested in a listing they will register in order to get more information. This will be an interesting point to follow next month, when we completely remove the viewing restrictions.
In an effort to control the things on the site that may be affecting leads, we tweaked the registration message to be more personal. This was our attempt at a "virtual handshake," in the hopes that more users would see the benefit of signing up. So far, though this change hasn't had any impact on lead conversion.
I'll be reporting back again in early June with some juicy month-to-month comparisons.
Ryan MacDonald, B.Sc. Real Estate Professional
Million Dollar Club Member
Top 1% Real Estate Professional in Calgary
O: 403.278.2900; F: 403.592.8008