RE Technology, Inc., (RET) the provider of a real estate technology portal, has announced the launch of Success Tracker™ designed to help every MLS in North America to create and implement recurring non-dues revenue streams. MRIS, the largest MLS in North America in terms of sales generated, has signed on to be the first customer.
According to the company, Success Tracker is designed to work with RET’s Success Store™, a plug-and-play e-commerce solution that enables MLSs to market online products and services along with core MLS subscription fees.
Given the way that business is conducted today (and tomorrow) MLSs must utilize many approaches to generate interest and demand for their premium (e.g. non-core) product offerings. Websites, Blogs, social media sites, system home pages and member resource directories are gaining momentum to accomplish this goal.
Premium products (such as e-signatures, agent websites, social media tools, etc.) are also marketed on shareholder association websites, and through directory pages on RETechnology.com. Some MLSs are using video demonstrations, live webinars and office visits and trying as many methods as they can to figure out the best methods for selling premium products.
John L. Heithaus, CMO of MRIS stated: “Currently, it is difficult, if not impossible, to know which of these efforts are paying off and driving the most purchase conversions. Success Tracker™ contributes to solving that problem for us.”
MRIS (Metropolitan Regional Information Systems) is the first MLS to deploy Success Tracker™. MRIS will be able to monitor promotional channels and identify which sources are creating the most leads. By embedding a simple tracking code on every page that promotes non-dues revenues, Success Tracker™ helps MLSs better target and deploy marketing investments.
Using RE Technology’s Success Tracker™, MRIS now has visibility into their eCommerce sales funnel. They are able to run reports that track websites where product information is viewed, the number of times the product information is viewed, and the click-through rates to their online store. Combining Success Tracker™ with their transaction reports allows MRIS to measure conversion rate by product, and by promotional avenue and media source.
“Selling products online is a science,” says Heithaus, and there are many industry best practices inspired by world class companies like Amazon.com that we can put to work here.”