“Predictive analytics.” Do you know what those words mean? It takes a few times of hearing them to really understand. It is the study of readily available information by companies to help their customer anticipate people’s behavior. That is my definition, not Websters. It is more likely found in an Urban Dictionary concept, and since people, willingly or unwillingly, have lots of information available online or in public records, it is, of course, going to be analyzed and cataloged for use by paying customers. From an individual’s perspective, this can be a bit creepy. As a business owner, we need to join the ranks of business owners around the world using this data for our benefit and that of our company. There are a number of companies who collect and aggregate the data in ways that service REALTORS®. They sell products that help us understand when people might desire to make a move, thus, in theory, make our marketing more targeted and fruitful.
I am introducing them, but will let them do the selling of their product. They all offer some very interesting and focused information to help us, and many of them have marketing materials to help us touch the people in our farm or database. When you consider where you spend your marketing dollars, these companies might give you more options for your money since they are data congregators as well as marketing companies. If you want to market more stealth, like Proctor and Gamble have been doing for decades, check out this group of vendors. I am sure I have not seen all out there who do this type of marketing, but there are several fairly well known companies who are worth looking into. You might have wondered what exactly they offer and I hope you have some more understanding now. Contact them directly to fully understand how they can help you grow your business.
- Smart Zip with Gabe Balanag in the photo.
- Offrs with Adam Orsini, I think. Lee Dickson was also with us. One of them is with me and one is taking the photo.
- Smart Zip and Offrs gather data on a house and relevant information around it. I am not sure how or if they follow inhabitants. They both have unique features in their offerings.
- Revaluate with Madeline Hammer. They research data on your “sphere of influence” and past clients by congregating data on your database.
- And in the NAR REach program, Christopher Hussain at RealKey has something for lenders that seems to approach the collection of data at a central location. They are using AI to improve the loan process. He works with mortgage lenders.