The Home Buyers Online Journey. A Clickstream Study in the Online Property Sector Google/Nielsen UK, October 2010
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1 The Home Buyers Online Journey A Clickstream Study in the Online Property Sector Google/Nielsen UK, October 2010
2 Agenda 1 Methodology & Definitions 2 The Pathway to Purchase 3 The Role of Search 4 Summary & Recommendations 2
3 Methodology & Definitions 3
4 How people research property is complex Start Points in Grey Total Google Search (incl. Sponsored) 31% 2% Agent / Developer 31% Home + Garden 24% 3% 39% 27% 53% 65% 24% Other Search 22% 44% 23% Property Portal 70% 33% 25% 10% 21% 25% 27% 65% 42% 65% 25% 72% 57% 41% Government and Councils Maps Local Information 28% 42% 1% 29% 22% 27% THIS CHART IS FOR ILLUSTRATION PURPOSES ONLY (DATA MAY NOT BE 100% ACCURATE). Base: Those that visit Property Detail Pages and Direct Action Pages in the Sale (Property Only) Market. Note: This shows all the movement between sites for visitors of each event. Non-property only refer to where the event website is the first property website to be visited in the session; Arrows represent proportion of users who go from one site type to another in the session. (Audience movements under 21% not shown) 4
5 Methodology: Key Period: January-June 2010; Sample Size: 3, sites included, 238 property specific, 17 site categories Restricted to adults aged over 21 years 15,280 unique search terms categorised UK Finance Clickstream Study: 86 Sites (all finance categories) 4 types of sites 5,000 search terms The analysis is based solely on those panellists who have visited a Property Portal, Agent or Developer website in at least 3 unique web sessions during the 6 month period Affordable Housing Property Portal Agent Developer Market Info Gov t/councils Property Services Temporary Housing Local Information Mortgages Internet Portal B2B Niche Selling Only School Maps Home + Garden 5
6 Where are property buyers based? Regional presence Scotland % % of Total 10 Converters ratio 24 North % % of Total 23 Converters ratio 24 Midlands % % of Total 21 Converters ratio 38 Wales & West % % of Total 11 Converters ratio 42 London % % of Total 21 Converters ratio 49 South (excl. London) % % of Total 15 Converters ratio 38 Base: Those that visit Sales Property Only Pages 6
7 The Pathway to Purchase What does the consumer journey online for house hunters look like? 7
8 8.6m Total Unique Visitors (has visited property sites more than 3 times in the 180 day period) 7.7m Property Details (has visited an individual property page within a property site) 3.3m Engagers (has engaged further with the property details page e.g. floor plans, photos etc.) 3.3m Converters (has performed an action on the property site e.g. download brochure, request viewing etc.) 38% of property visitors convert on site 8
9 Activity intensifies between days Distribution of Journey Length Journey completion Accelerating engagement Focused research Casual browsing Conversions (sample converting 5 or more times) Base: Converters 9
10 Converters more active in their property search Activity Levels Total Converters Difference Audience size 8.6m 3.3m Journey length 114 days 124 days 9% Average sites visited 9.3 sites 13.0 sites 40% Total site visits 29.9 times 47.1 times 58% Time spent 3hrs 1min 5hrs 04min 68% Clickstream Study Journey Length Total Sites Visited Finance (Current Accounts) 47 days 17 times Energy 16 days 4 times Base: Those that visit Sales Property Only Pages 10
11 The Role of Search Search is Core to the Research Process 11
12 Google drives most of the traffic to online property 35% Start journey with Google search 10% Start journey with Google sponsored link 12
13 Nearly 1 in 2 converters click on sponsored links Use of Search Total Converters Use search at any point in the journey Searchers who use sponsored searches 76% 86% 36% 43% Average number of searches* Base: Those that visit Sales Property Only Pages and Converters. *of those who search. 13
14 x 1.3 Those who click on Google sponsored links are 1.3 times more likely to convert 14
15 film un Over 50% of all generic searches include over 5 words 15
16 83% of searches included generic terms Brand v Generic Searches (Converters) % of Searches Sample generic terms: property for sale buy home property to buy in London new homes paxton close richmond In comparison to Clickstream Study 92% of all searchers have used a generic term at least once Share of Generics Finance (Cards) 20% (approx.) Energy 30% (approx.) Base: Converters 16
17 Location is key to property searching Generic Search Types (Converters) Top 3 % of Generic Searches by Type 83% 78% 51% Tags: Location Generic: Property Listings Market: Buy Base: Converters. Pages in the Sale (Property Only) Market Note: Generic searches by type (%), A search is defined as one that results in a clickthrough to a property or property related website. Market and Tag terms can be overlapping with other terms. Market can only be selected once. 17
18 For those who convert First Search: BRAND > Last Search: GENERIC 40% First Search: GENERIC > Last Search: GENERIC 75% Base: Those in the Sale (Property Only) Market 18
19 Generic searches are core to the journey Search paths (Converters) B = Brand, G= Generic, N = No further searches Search Brand Generic 29% 71% B 36% G 55% N 8% B 12% G 76% N 12% B 56% G 23% N 21% B 17% G 50% N 33% B 36% G 38% N 26% B 11% G 78% N 11% Base: Converters / Pages in the Sale (Property Only) Market Note: Each of the first three property searches performed by the audience. Figures Tree: % of Audience, Funnel: Actual Audience; A search is defined as one that results in a clickthrough to a property or property related website. 19
20 Segmenting the Market Multiple Types of Buyers Online with Unique Behaviours 20
21 More property research takes place at work 35% site visits 38% searches 21
22 Buyers go online for property information 90% of those looking for property visit local sites 40% visit market information sites 22
23 90% of those who visit property sites also visit home & garden sites 23
24 Those already with mortgage quotes +34% More likely to convert +55% Site visits +20% Searches on Google +10% Use sponsored links* 24
25 When also looking for schools, the property buyer spends 15 more days researching they also visit 40% more sites 25
26 Summary & Recommendations 26
27 Summary 86% The Pathway to Purchase The consumer journey for property buyers is complex and fragmented Google is at the centre of this with 86% using search 43% The Role of Search Generic searches, particularly those including locations, play a critical role in driving consumers to convert 43% of property seekers have clicked on a sponsored link 40% Segmenting the Market The online research process varies between different types of property buyers e.g. those also looking at schools, on average visit 40% more property sites 27
28 Recommendations Insight Search is at the heart of the property research process clicks on sponsored links 30% more likely to lead to conversion On site engagement is key to driving conversions Action Maximise potential of your PPC campaigns, ensure relevant landing pages & clear creatives Make sure floorplans are available and easy to access Find other ways to engage visitors maps, video, mobile Property seekers are not brand loyal, 75% of converters start & finish on a generic query Always on marketing approach to ensure return visits Use remarketing & consider differentiating your message at different stages of the journey Property seekers visit a plethora of sites on the road to conversion Reach potential customers with banners on other relevant sites e.g. home & garden, local, mortgage etc Over half of property search queries contain more than 5 words Ensure AdWords campaigns cover off the long tail. Broad match should also be used. 28
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