The Record Is Still Curved In Online Real Estate
There was a post yesterday on Times Internet blog which tried to set the record straight in online real estate. I have made an attempt to look at the data and since I felt that it will be nice to evaluate these charts and draw some conclusions. So here they are.
Monthly Visits?—?Magicbricks started the year with 38% share, peaked at 49% (Mar 13) and ended it at 32%. The total number of Monthly Visits grew by 21% while Magicbricks grew by 9%.
The real estate market might not have really picked up this year, but the monthly visits show that online real estate industry has grown by 21%, much of which can be attributed to the new players who are eating into the share of the top 2.
Unique Visitors?—?Magicbricks started the year with 32% of share of UVs, peaked at 34% and ended the year with 20%.
Industrywide, the total number of unique visitors grew by 13% while Magicbricks fell by 13% which might be attributed to they cutting down on SEM.
Average Daily Visitors?—?Magicbricks started with 39% of share, peaked at 49% and ended the year with 32%. The total number of avg daily visitors increased by 31% while for Magicbricks it grew by 8%.
Visits/Visitor?—?This is very interesting. Quoting from the post
Why does visits / visitor matter? Well, it’s the closest thing you have towards a metric of user satisfaction. If a user is unsatisfied, he’ll visit you one time, but probably not a second time. If a user is satisfied, he’s likely to visit more often. It’s also the metric that’s least susceptible to ‘buying traffic’, since you can buy the first visit, but it’s much harder to buy the subsequent ones.
What is the ideal number of visits for a real estate portal? If I am looking to buy a house or rent one, 1-2 visits should be enough for me to get my job done. If I am coming back to your site again and again, which means that my problem is not yet solved.
Also, as stated in the blog, Magicbricks have cut down on their SEM budgets in last 6 months which must have led to decrease in 1-time visits and as a result, the graph for visits/visitor should gain rather than fall down.
There are enough quotes on Data and Statistics on the interwebs and yes, they are true. It is how we interpret them and what we chose to showcase to the world.
- I am no expert on online real estate business and my observations are purely based on analytics
- The percentages expressed above are approximations and there might be +/-2% margin of error
- The images used in this post are attributed to Times Internet and they hold the rights to it.
[About the Author: Rohit Awasthi is the co-founder of SoLoMo Media, a social media company.]