The Dragons' Den / Shark Tank Effect On Traffic
I am sitting in our restaurant REWsters today, finally able to take moment to reflect on the events following two days of intense and very positive media attention we have received since landing the largest deal in Reality television history this past thursday on CBC's Dragon's Den.
All I can say is I am absolutely BLOWN AWAY! All the positive comments, tweets, facebook messages, shares, interviews (TV / RADIO / Newspaper) I mean it's just crazy! Of course as fans of the show we knew that we could expect something like this, but even being somewhat expecting of what is commonly referred to as the "Dragon's Den Effect" (Shark Tank Effect in the US) I can easily say that the response completely exceeded our expectations.
As a marketer it's my nature to want to understand such things and being that we are in the midst of this effect ourselves I want to make sure that we are able to take full advantage and leverage this effect.
In order to set some goals (an important part of the marketing process) I want to set a baseline and targets for what we hope to achieve in leveraging this campaign. I've been doing some research and to my surprise, there doesn't seem to be any in depth studies or guides on what this effect is, what it does and most importantly measuring the positive effect that it has on business.
Well I'd still like to know!
So I guess it's up to me to pave the way and measure / report this effect in the hopes that others experiencing this phenomenon can take full advantage of their hard earned exposure. It's going to be trial and error and I'll DEFINITELY make some mistakes (hopeful no too many) in trying to leverage this effect - but hopefully in my sharing of what works AND what doesn't - it will help those that come after optimize their campaigns and do ever more!
I plan on working this effect and studying the effects for several months thus this will be a living / breathing study. For the most part it will be contained here on this blog post URL - so please bookmark this page and revisit often for updates.
Let's start with traffic - shall we? (Today is Saturday morning, 1130 PST)
My episode aired just 3 days ago (not even 72 hours at the time of writing this) but the "Dragon's Den effect" is not only being seen, the positive impact is significant!
Check out these baseline stats:
Website traffic The day my episode aired, traffic to www.realestatewebmasters.com increased by 260%! That's a HUGE increase!
But it wasn't just our website that had an influx in popularity. Our social media saw similar results, as our Facebook page received 294 new likes on the airing date and 205 likes on the business day after!
The actual number of people who came to our Real Estate Webmasters Facebook page saw a big surge as well:
Traffic is great, but what about BUSINESS KPI's!
What about LEADS?
Best of all was the new leads. We had a lot of media exposure in the weeks leading up to the episode, and Nov. 19 (the day of the episode) gave us 129 new online leads! The crazy thing is the episode did not even AIR until 8 PM - imagine if it was a morning show :) For comparison, Wednesday being a normally slow day, the previous week we only had 18 new web leads - that is an increase of 700+% AMAZING!
Those are bonafide leads, from real estate agents who chose to reach out to us through the website and find out more about our phenomenal line of products and services. (It also doesn't factor in all the people who called in and had our phones ringing off the hook!) I imagine we likely had a total of closer to 200 total inquires in just the first 24 hours following the show.
And most importantly SALES! As Kevin O'leary would say - HOW DO I MAKE MONEY!
That is a GREAT question! So far we of course have not had a chance to realize conversions on many of these inquiries as it's only been a few days, but for the first time EVER at REW I am going to share some revenue numbers with you so that we can have a baseline!
December 2013 "cash receipts" (actually cash in the bank) was $1,276,939.90 this is our baseline - at the end of the day, it will take a LOT of time to crunch the numbers and calculate the total net value / effect of the Dragon's Den effect - but this should be a great start :)
Last Years Leads for Nov 19th to Dec 31st 2013 for comparison later: 361
All in all, the first few days following the Dragons' Den episode have been very exciting for me and the whole team at Real Estate Webmasters, and I get the feeling something big has just begun...
Stay tuned to find out what happens next!