About a week ago we told you about a survey of more than 6,000 consumers on our new home shopping site, NewHomeSource.com. We lamented that less than 10% of consumers would fill out lead forms. While we were encouraged that 23.5% said they took action, this still left 76.5% not taking action. SO, WHY NOT?!
Image courtesy of sanja gjenero
Of course we asked this question as well. While some consumers really took no action, some merely took no action we could measure from our website. What do you think was the #1 reason consumers told us that took no action? The #1 reason consumers gave us for not taking action was “I might later, but I’m just looking today.” Have you heard this one before? That group really took no action … at least that day.
More interesting was the #2 response. 22.0% said that they would prefer to visit the community in person. The chart below shows the breakdown of why consumers took actions other than those we could measure.
The consumers in this survey were motivated shoppers. After bouncing around NewHomeSource.com (i.e., they are motivated), they then opted into the survey. So, the absolute percentage taking action or giving a reason for not doing so is less meaningful than the ratios.
In my blog entry about the actions consumers take on listing websites on the November 20th, I reported that 23.5% of 4,245 consumers surveyed said they took some form of action on NewHomesource.com. 32.3% of these, or 7.6% of the total, filled out a form asking for information. While 76.5% took an action we could not measure, 22.0% of these or 16.8% overall, said they preferred to visit the community in person. So, for every person filling out a lead form on NewHomesource, 2.2 times as many said they would rather just showing up.
I always thought it was 3-4 times that number showing up as physical traffic relative to leads (early, presumably less scientific research), but I am okay with 2.2 times as many shoppers showing up as physical traffic as those filling out a lead form. Think about this when considering the number of lead request you get from your website. 2X the number may just show up instead. This has huge implications for any internet marketing expenditure.
Lies, Damned Lies and Statistics:
- 12.9% of new home shoppers in this survey (19.9% of 76.5%) really don’t want to be contacted. That does not mean they will not show up in person, but that they are not ready to talk to you. Does this mean that the other 87.1% are waiting for your call and wondering why you are ignoring them?
- 10.3% of new home shoppers in this survey (13.4% of 76.5%) couldn’t find a community they were interested in. We either have the wrong builders 10% of the time or maybe these consumers don’t know your community well enough. Give them some pictures, video, and tell them why they should want to live there.
- 2.1% of new homes shoppers in this survey (2.7% x 76.5%) aren’t even interested in buying a new home. To heck with that half-full mentality! 97.9% are actively shopping for a new home.
Come on you market research types, tell me how it is. Let me know what you think.