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Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
Cashing In On Lead Conversion
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Cashing In On Lead Conversion

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These slides are from a presentation given at the Coldwell Banker Expo in Chicago, IL on March 9th, 2010. The subject was "Cashing in on Lead Conversion," and the audience consisted of REALTORS from …

These slides are from a presentation given at the Coldwell Banker Expo in Chicago, IL on March 9th, 2010. The subject was "Cashing in on Lead Conversion," and the audience consisted of REALTORS from the Chicago market.

Published in: Real Estate, Business, Technology
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  • 1. Cashing in On Lead Conversion Jonathan D. Nicholas, The Virtual CEO The Company CEO, Inc. www.JonathanNicholas.com (847) 881-6535©2010 The Company CEO, Inc. - All Rights Reserved
  • 2. Cash Cow or Mad Cow? ©2010 The Company CEO, Inc. - All Rights Reserved
  • 3. Agents Love Leads! Comments heard in a competitor’s office….  “These internet leads are worthless!”  “They won’t return my phone call!”  “None of them are ready to buy!”  “They told me to stop stalking them!”  “I’m not taking any more internet leads!” ©2010 The Company CEO, Inc. - All Rights Reserved
  • 4. Lead Conversion Paradigms Floor Call Past Client Referral ©2010 The Company CEO, Inc. - All Rights Reserved
  • 5. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 6. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 7. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 8. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 9. Lead Conversion Paradigms What are leads? Impersonal Removed No Relationship Just an Email Suspect Tire-Kicker Unresponsive Distraction ©2010 The Company CEO, Inc. - All Rights Reserved
  • 10. Lead Conversion Paradigms Leads are… - Real People - With Dreams - Goals & Desires - Needs to Fill - Real Estate Question - Doing Research - Shopping for an Agent ©2010 The Company CEO, Inc. - All Rights Reserved
  • 11. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 12. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 13. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 14. Lead Conversion Paradigms ©2010 The Company CEO, Inc. - All Rights Reserved
  • 15. Technology DisconnectThe Internet Empowered Consumer Average Internet Buyer is:  29 Years Old  Getting Younger Every Year ©2010 The Company CEO, Inc. - All Rights Reserved
  • 16. Technology DisconnectOn the Flip-Side… Average Agent:  51 Years Old  Not Getting Younger Every Year  Average Broker is 54 ©2010 The Company CEO, Inc. - All Rights Reserved
  • 17. Lead Conversion Paradigm Are all internet leads bad??  Not if you take the time to understand a little more about them. ©2010 The Company CEO, Inc. - All Rights Reserved
  • 18. Lead Realities According to a NAR study on Internet Buyers and Sellers:  They tend to have higher Incomes  They tend to be better educated  They have a shorter search time  They view fewer homes  They are more likely to use a REALTOR ©2010 The Company CEO, Inc. - All Rights Reserved
  • 19. Lead Realities According to a CAR study on Internet Buyers and Sellers:  92% found their agent on a web site  63% found through a search engine  0% found agent through brochures, flyers, yard signs or mailers.  100% started looking at homes first, for their agent second. ©2010 The Company CEO, Inc. - All Rights Reserved
  • 20. Lead Realities Gen-X and Gen-Y (Age 14-43)  86% used the internet to find a real estate agent  45% used the internet to find a real estate company  75% used the internet to find their actual home  66% used the internet to get finance their home  62% used the internet to get neighborhood information ©2010 The Company CEO, Inc. - All Rights Reserved
  • 21. Lead Realities According to a CAR study on Internet Buyers and Sellers:  Internet buyers took 2/3 less time  Internet buyers interviewed only one agent; others interviewed three  Internet buyers were far more satisfied in every research category of satisfaction than traditional buyers were ©2010 The Company CEO, Inc. - All Rights Reserved
  • 22. Lead Realities According to a CAR study on Internet Buyers and Sellers:  97% of internet buyers said that they would use the same agent AGAIN! ©2010 The Company CEO, Inc. - All Rights Reserved
  • 23. 5 Key Lead Conversion Strategies #1 - RESPOND!  Respond immediately!  Respond in the fashion that they indicate or request  Email  Phone  Text  Social Media ©2010 The Company CEO, Inc. - All Rights Reserved
  • 24. 5 Key Lead Conversion Strategies Why Respond?  Because 50% of leads never hear from anyone. ©2010 The Company CEO, Inc. - All Rights Reserved
  • 25. More Reasons to Respond The Psychology of Responsiveness:  Professor Judith S. Olson, UC Irvine  People are willing to pass judgment with or without good information  People rely on voice, body language, facial expressions, etc.  What do they rely on when they can’t interact?  Video with Audio  Voice (Only Audio)  Written Word  When they don’t have any of the above?  How Quickly You RESPOND! ©2010 The Company CEO, Inc. - All Rights Reserved
  • 26. More Reasons to Respond Percentage of those who used the first Real Estate Professional they talked to:  80% of all Buyers  74% of all Sellers ©2010 The Company CEO, Inc. - All Rights Reserved
  • 27. What Do They Expect? 15 to 20 Minute Response Time 15 Second Site Patience 4 Second Property Patience “Connected” Agent  All the information  All the images  The good, the bad and the ugly  Available ©2010 The Company CEO, Inc. - All Rights Reserved
  • 28. We’re Failing Miserably Alarming Reality  $2 Billion was spent to drive online leads  We are only nurturing 10% of the pie  We lost out on the other 90% due to our own bad habits ©2010 The Company CEO, Inc. - All Rights Reserved
  • 29. 5 Key Lead Conversion Strategies #2 - Follow-Up!  80% of those responded to never hear from the agent again. ©2010 The Company CEO, Inc. - All Rights Reserved
  • 30. 5 Key Lead Conversion Strategies Keep Communicating:  K.I.S.S. Principle – Simple, Short and Sweet  Communicate no more than twice per week in Phase 1.  Communicate no more than 3 times per week in Phase II.  Emails: 50 words, personable, not scripted or automated  Don’t sell yourself, your credentials, or your service.  Be prepared to follow-up until they tell you to drop dead. ©2010 The Company CEO, Inc. - All Rights Reserved
  • 31. Don’t Ever Do This!! Actual Emails Received from Agents ©2010 The Company CEO, Inc. - All Rights Reserved
  • 32. 5 Key Lead Conversion Strategies Ideas for K.I.S.S. emails:  Think in 140 characters or less – as if you were texting:  “Just checking in with you on your home search…”  “Checking to see if your search is yielding suitable properties.”  “How is your home search going…”  “I saw you were on the site today – did you find everything…”  “What does your dream home look like?” ©2010 The Company CEO, Inc. - All Rights Reserved
  • 33. 5 Key Lead Conversion Strategies #3 – Create Automated Follow-Up Campaigns Once You Know the Prospects Preferences:  Home-buyer  Home-Seller  First Time Home-buyer  Renters  F.S.B.O.  Market Trends or Newsletter  Expired  Niche Market ©2010 The Company CEO, Inc. - All Rights Reserved
  • 34. 5 Key Lead Conversion Strategies #3 – Create Automated Follow-Up Campaigns Mix Up Your Media:  Email  HTML  Text Email  Print (mailing address)  Voice  Video Message  Use Your Webcam  Text Message ©2010 The Company CEO, Inc. - All Rights Reserved
  • 35. 5 Key Lead Conversion Strategies www.TextMarks.com ©2010 The Company CEO, Inc. - All Rights Reserved
  • 36. 5 Key Lead Conversion Strategies #4 – Provide Value  Loan Program Details  Area, School, RELO Information  Market Stats  Tips  Buyer & Seller  Top Selling Areas  Top Real Estate Mistakes  Free Reports  Articles  Links to Resources  Education 101 ©2010 The Company CEO, Inc. - All Rights Reserved
  • 37. 5 Key Lead Conversion Strategies #5 – Invest in Systems & Technology to Automate Process  CRM – Relationship Management  Activity Plans & Campaigns  Newsletters  Integrate with Connect MLS  Email Notifications  Favorites & Preferences  Direct Mail Options  Scheduler for Sequential  Track Opens & Links ©2010 The Company CEO, Inc. - All Rights Reserved
  • 38. Cashing in On Lead Conversion Jonathan D. Nicholas, The Virtual CEO The Company CEO, Inc. www.JonathanNicholas.com (847) 881-6535©2010 The Company CEO, Inc. - All Rights Reserved

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