Lead Management:<br />Cash Cow or Mad Cow?<br />Jonathan D. Nicholas, The Virtual CEO<br />jonathan@TheCompanyCEO.com<br /...
Cash Cow or Mad Cow?<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Cash Cow or Mad Cow?<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Technology Disconnect<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Technology Disconnect<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Technology Disconnect<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Technology Disconnect<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />The Internet Empowered Consumer<br /...
Technology Disconnect<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />On the Flip-Side…<br />Average Agent...
Leads Management<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />   A system for tracking the life-cycle o...
Disconnect Continues<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Comments heard in the office….<br />“...
Lead Conversion<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Lead Conversion<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Lead Conversion<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Lead Conversion<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Leads<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Are all internet leads bad??<br />Not if you take ...
Internet Consumers<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />According to a NAR study on Internet Bu...
Internet Consumers<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />According to a CAR study on Internet Bu...
Internet Consumers<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />According to a CAR study on Internet Bu...
Internet Consumers<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />According to a CAR study on Internet Bu...
Internet Consumers<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Percentage of those who used the first ...
Generational Shift<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br /> Gen-X and Echo Boomers (Age 14-43)<br ...
Expectations?<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />15 to 20 Minute Response Time<br />15 Second...
Brokerage Realities<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />50% of leads are not responded to<br /...
Brokerage Realities<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Alarming Reality<br />$2 Billion was s...
Brokerage Realities<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />The Entire Internet Pie<br />189 Milli...
Brokerage Realities<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />The Internet Pie VS. REAL ESTATE<br />...
Brokerage Realities<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Hitwise<br />August<br />2009<br />
Website Standards<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Brochures are OUT!<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
Website Standards<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Minimum Standards:<br /> Quick Search an...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />What are you doing to generate traffic?<br ...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />What are you collecting from the traffic?<b...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Scrubbing the Leads:<br />How & where were ...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Who is worthy?<br />Office Policy or Compan...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Incubate the leads that are not ready<br />...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Track<br />Who has the lead?<br />Did they ...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Assign the leads<br />When they raise their...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Sold/Abandon<br />Only know if you track th...
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />
e-Lead Process<br />©2009 The Company CEO,  Inc.  -  All Rights Reserved <br />Follow-Up<br />Debrief<br />Study the data ...
Lead Management:<br />Cash Cow or Mad Cow?<br />Jonathan D. Nicholas, The Virtual CEO<br />jonathan@TheCompanyCEO.com<br /...
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Lead Management Cash Cow or Mad Cow - Century 21 Leadership Conference

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Power Point slides from the presentation recently given at the 2009 Century 21 Leadership Conference held at the Atlantis Resort, Paradise Island, Bahamas.

Jonathan D. Nicholas, Virtual CEO, was the presenter for the break-out session.

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Lead Management Cash Cow or Mad Cow - Century 21 Leadership Conference

  1. 1. Lead Management:<br />Cash Cow or Mad Cow?<br />Jonathan D. Nicholas, The Virtual CEO<br />jonathan@TheCompanyCEO.com<br />www.jonathannicholas.com<br />Toll Free: (888) 800-8991<br />©2009 The Company CEO, Inc. - All Rights Reserved<br />
  2. 2. Cash Cow or Mad Cow?<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  3. 3. Cash Cow or Mad Cow?<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  4. 4. Technology Disconnect<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  5. 5. Technology Disconnect<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  6. 6. Technology Disconnect<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  7. 7. Technology Disconnect<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />The Internet Empowered Consumer<br />Average Internet Buyer is:<br />29 Years Old<br />Getting Younger Every Year<br />
  8. 8. Technology Disconnect<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />On the Flip-Side…<br />Average Agent:<br />51 Years Old<br />Not Getting Younger Every Year<br />Average Broker is 54<br />
  9. 9. Leads Management<br />©2009 The Company CEO, Inc. - All Rights Reserved <br /> A system for tracking the life-cycle of a prospective customer, from source of contact through transaction completion (or abandonment)<br />
  10. 10. Disconnect Continues<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Comments heard in the office….<br />“These internet leads are worthless!”<br />“They won’t return my phone call!”<br />“None of them are ready to buy!”<br />“They told me to stop stalking them!”<br />“I’m not taking any more internet leads!”<br />
  11. 11. Lead Conversion<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  12. 12. Lead Conversion<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  13. 13. Lead Conversion<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  14. 14. Lead Conversion<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  15. 15. e-Leads<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Are all internet leads bad??<br />Not if you take the time to understand a little more about them.<br />
  16. 16. Internet Consumers<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />According to a NAR study on Internet Buyers and Sellers:<br />They tend to have higher Incomes<br />They tend to be better educated<br />They have a shorter search time<br />They view fewer homes<br />They are more likely to use a REALTOR<br />
  17. 17. Internet Consumers<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />According to a CAR study on Internet Buyers and Sellers: <br />92% found their agent on a web site<br />63% found through a search engine<br />0% found agent through brochures, flyers, yard signs or mailers.<br />100% started looking at homes first, for their agent second.<br />
  18. 18. Internet Consumers<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />According to a CAR study on Internet Buyers and Sellers: <br />Internet buyers took 2/3 less time<br />Internet buyers interviewed only one agent; others interviewed three<br />Internet buyers were far more satisfied in every research category of satisfaction than traditional buyers were<br />
  19. 19. Internet Consumers<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />According to a CAR study on Internet Buyers and Sellers: <br />97% of internet buyers said that they would use the same agent AGAIN!<br />Wow! They really are lower maintenance!<br />
  20. 20. Internet Consumers<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Percentage of those who used the first Real Estate Professional they talked to:<br />80% of all Buyers<br />74% of all Sellers<br />
  21. 21. Generational Shift<br />©2009 The Company CEO, Inc. - All Rights Reserved <br /> Gen-X and Echo Boomers (Age 14-43)<br /> 86% used internet to find a real estate agent<br /> 45% used to find a real estate company<br /> 75% used it to find their actual home<br /> 66% used it to get financing<br /> 62% to get neighborhood information<br />
  22. 22. Expectations?<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />15 to 20 Minute Response Time<br />15 Second Site Patience <br />4 Second Property Patience<br />“Connected” Agent<br />All the information<br />All the images<br />The good, the bad and the ugly<br />
  23. 23. Brokerage Realities<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />50% of leads are not responded to<br />50% of leads are responded to<br />Took an average of 54 hours to receive a response from an agent or brokerage<br />80% are abandoned after 6 days<br />
  24. 24. Brokerage Realities<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Alarming Reality<br />$2 Billion was spent to drive online leads<br />We are only nurturing 10% of the pie<br />We lost out on the other 90% due to our own bad habits<br />
  25. 25. Brokerage Realities<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />The Entire Internet Pie<br />189 Million Daily Unique Visitors <br />115 Million Average Daily Visits<br />455 Million Daily Page Views<br />10 Billion Daily Hits<br />28.1 Minutes per Visit<br />
  26. 26. Brokerage Realities<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />The Internet Pie VS. REAL ESTATE<br />189M Vs. 44M Unique Daily Visitors<br />115M Vs. 5.4M Average Daily Visits<br />455M Vs. 2.8M Average Daily Page Views<br />10 Billion Vs. 171M Daily Hits<br />28.1 Minutes Vs. 9.1 Minutes<br />
  27. 27. Brokerage Realities<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Hitwise<br />August<br />2009<br />
  28. 28. Website Standards<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  29. 29. Brochures are OUT!<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  30. 30. Website Standards<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Minimum Standards:<br /> Quick Search and Advanced Search<br /> Interactive Mapping & Community Content<br /> Emphasis on Visual Content including Video, Pix, Tour<br /> Consumer Dashboard<br /> Content Rich<br /> Lead Generation Forms<br /> Syndication<br /> Lead Management Module<br /> Follow an e-lead Management Process <br />
  31. 31. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  32. 32. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  33. 33. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />What are you doing to generate traffic?<br />Google Adwords<br />Media driving to URL<br />Syndication<br />Listing Updates<br />Drip Campaigns<br />Social Media<br />
  34. 34. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  35. 35. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />What are you collecting from the traffic?<br />Data<br />Who, when, how long, what, where, how much<br />Referring URL/Source<br />ROI<br />Type of Form<br />Leads<br />Quality<br />Verification (Password)<br />Registration <br />
  36. 36. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  37. 37. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Scrubbing the Leads:<br />How & where were lead generation forms submitted?<br />Segment & Qualify<br />Touch Base<br />Assess urgency<br />
  38. 38. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  39. 39. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Who is worthy?<br />Office Policy or Company Culture<br />Certification on Internet Consumers<br />Internet Virtual Agency<br />Standards & Accountability<br />What’s best for the consumer<br />What’s best for your reputation<br />
  40. 40. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  41. 41. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Incubate the leads that are not ready<br />Drip Campaign<br />CRM Activity Plan<br />Communicate as the lead requests<br />Cultivate relationship<br />Provide resources and information<br />
  42. 42. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  43. 43. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Track<br />Who has the lead?<br />Did they respond, and how long did it take?<br />What is the status – weekly report?<br />Quartile – Immediate, Incubate, Dead, Test<br />Where are my best leads coming from?<br />What is paying off?<br />
  44. 44. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  45. 45. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Assign the leads<br />When they raise their hands<br />Are qualified<br />Show urgency<br />Come List Me<br />Evaluation<br />Relo<br />Lead-assignment criteria<br />
  46. 46. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  47. 47. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Sold/Abandon<br />Only know if you track the status<br />Did you close them?<br />Did agent abandon them?<br />Did we re-assign?<br />Was CPR administered?<br />Were they not qualified?<br />What is the result? Dead – Revived?<br />
  48. 48. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />
  49. 49. e-Lead Process<br />©2009 The Company CEO, Inc. - All Rights Reserved <br />Follow-Up<br />Debrief<br />Study the data and look for the story<br />Discover trends<br />Improve the process<br />Increase your ROI<br />Know the numbers<br />
  50. 50. Lead Management:<br />Cash Cow or Mad Cow?<br />Jonathan D. Nicholas, The Virtual CEO<br />jonathan@TheCompanyCEO.com<br />www.jonathannicholas.com<br />Toll Free: (888) 800-8991<br />©2009 The Company CEO, Inc. - All Rights Reserved<br />

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