Generate More Leads
The Anatomy of a Lead
Not all leads are created equal. No matter how many leads you generate they are not worth very much if they do not convert into transactions.
Timing is very important in determining the value of a lead. If you receive a lead just after someone has purchased a home or signed a lease it may not be of much value. Or if the lead is too early in the buying process it also may be of little value. The latter is the problem with many leads generated on the internet. NWR studies indicate that although many buyers use the internet during the buying process. But the studies also indicate that on average this use of the internet can start between 18 and 24 months before a transaction is done. This is a very long time to sustain contact in the hope that you will be the agent selected at the point in the buying process then the buyer transitions for interested to serious about buying a property.
Exclusivity of the lead is also important. One of the problems in receiving leads from third parties is that it is highly unlikely (no matter what you are told) that those leads will not be delivered to many Realtors in your market. And even if your supplier does restrict the delivery it is very likely that the buyer (or seller) will have filled out a number of forms on a number of websites and thus you face a substantial level of competition to close those transactions.
Other sources of leads also have limited exclusivity. Someone calling from your yellow page ad is likely to also call your competitors as well. Referral sources are less prone to this kind of problem but even these leads are often provided by the referrer to a couple possible Realtors (so that the referrer doesn't appear to be "playing favorites" with placing their client's business).
No matter how good a source of leads is, if they cost too much they are not really any good. But there is more to the cost of a lead than just the price paid per lead. If you pay $50 per lead and 10% (1 out of 10) result in transaction you are actually paying $500 to get that one transaction. But if a lead is "cheap" and only costs $20 and 2% of them result in a transaction then your cheap leads actually result in a cost of $1,000 per transaction. And those cheap leads have an additional cost because you to "work" 5 times as many leads to get that one transaction.
We supercharge your existing marketing systems. Our primary focus is on improving the effectiveness of your yard signs because although the yard sign is the third most used source of information by buyers, it is considered very useful by less than half the buyers that use it as a source of information.
We make the yard sign more effective by providing a self-service option that allows the buyer to gather information without being forced to interact with a salesperson (you). As a result we are able to increase the number of calls (leads) generated by the yard sign by a factor of between 3 and 8 depending on location.
The problem is that these leads were generated because the buyer wanted an ALTERNATIVE to talking to the salesperson. So having you follow up right after the call is not the most effective approach to convert those leads into clients. Our solution to this is quite obvious and also quite effective. We make that follow up call for you. Almost immediately after the caller hangs up we receive an alert and we call the prospect back.
We know that they are anticipating that this is a sales call when we identify ourselves. So we take a very unexpected tact...we thank the caller for using the system and ask them what they thought about the system. Once we engage the caller in a conversation we talk with them about their home buying experiences and gather information for you. We do offer to transfer then to you (if you are market as available when the call was received). But the primary propose of our follow up call is to identify where the caller is in the buying process and how the property they called about fits what they are looking for.
The next time the caller sees one of our rider signs we want them to remember that they found it more than very useful and make another call. If they do make that call we have a far greater probability of converting them to both a real estate client and a mortgage client. When our system answers a second (or subsequent) call Simon introduces himself as in the first call. But from there call flow changes. Simon tells the caller that he sees that they called before and identifies that property by address. He asks if caller wants to hear about that property again or be transferred to the agent to arrange to see it. The call flow from that point depends on the caller's responses. As with the caller's first call we follow up with a call back and thank them for using the system again. We ask the caller what they thought about this property compared to the other properties they have heard about. If they have not already started on getting their financing set up we encourage them to do that as well as finding a Realtor to work with if they still don't have one. Again our focus is on gathering information and helping the caller with their property search.
The more times a prospect calls the more likely we are at getting that connection established for both you and our mortgage affiliate. But if we "push for the close" the caller just puts that sales resistance shield back up and we loose our effectiveness. It is the strength of the second and subsequent calls from a prospect that make this system extremely powerful and it is the combination of the signs in front of the listings from a number of Realtors in the market that generates these multiple calls from the same caller. This is the thing that differentiates our system from others that are delivered to individual Realtors. By combining all the signs of all our Realtor partners into a single network we geometrically increase the effectiveness. This lets us truly supercharge the effectiveness of the marketing systems you are already using.
Espanding to More Marketing Channels
Although our primary focus is on using our technology to supercharge the yard signs, this technology can have the same effect on other marketing channels. For example, adding the toll free number and property code and offering free audio tours on your sales fliers can have as great or greater impact on the number of calls received from those fliers. The same is true for ads in Craigslist, newspaper classified ads, home magazines and other marketing systems.
As you integrate our technology into your marketing systems you will find that the efficiency of your entire marketing program begins to improve substantially. And when you start using the marketing codes that are a part of each property code you will be able to track each of your marketing systems and identify how much return you are getting on each of them.
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