Lead Conversion

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This presentation gives viewers best practice techniques and strategies for lead conversion turning email inquiries into commissions.

Published in: Real Estate, Technology, Business

Lead Conversion

  1. 1. On-Line Lead Generation Turning Mouse Clicks Into Commissions
  2. 2. Building & Maintaining Customers
  3. 3. Population By Country Internet Users
  4. 4. Canadian Statistics of Internet Users
  5. 5. The Top 20 Countries On The Internet
  6. 6. Important Stats – Internet Consumer <ul><li>95% online consumers will use Realtor. </li></ul><ul><li>Only 23% internet consumers are first time buyers. </li></ul><ul><li>60% internet clients choose their agent because they were the QUICKEST to respond to their email. </li></ul><ul><li>Average internet consumer will ONLY interview 1.5 agents before choosing. </li></ul><ul><li>Average will look at only 6 homes. </li></ul><ul><li>Takes average 180 + Days to convert buyer/seller leads. </li></ul>
  7. 7. Internet Leads are Frustrating <ul><li>Take effort and $ to generate </li></ul><ul><li>Timing is essential </li></ul><ul><li>No customer loyalty </li></ul><ul><li>Incubation time </li></ul><ul><li>Consumer wants to be anonymous </li></ul><ul><li>Listing information is everywhere </li></ul>
  8. 8. Leads Into $$$$ <ul><li>Sadly, no matter how brilliant your marketing is, how pretty it is, how expensive it is...the only question worth addressing is…” </li></ul><ul><li>Will this lead become a customer then a sale?” </li></ul><ul><li>Lead conversion process - walking client through a buying/selling process systematically to educate them </li></ul>
  9. 9. Best Practices For On-Line Lead Conversion
  10. 10. Compare Traditional Vs. Automated Lead Generation and Lead Management <ul><li>Traditional Methods </li></ul><ul><ul><li>Agents responsibility </li></ul></ul><ul><ul><li>Loose touch quickly </li></ul></ul><ul><ul><li>Reason agents fail </li></ul></ul><ul><ul><li>Company fails </li></ul></ul><ul><ul><li>Most don’t have system </li></ul></ul><ul><ul><li>Time consuming </li></ul></ul><ul><ul><li>Not sure what to send </li></ul></ul><ul><ul><li>Often hit/miss approach </li></ul></ul><ul><ul><li>Disorganized approach </li></ul></ul><ul><ul><li>Guaranteed loss of sales/listing </li></ul></ul><ul><li>Automated Drip Method </li></ul><ul><ul><li>No longer agent responsibility </li></ul></ul><ul><ul><li>Organized systematic approach </li></ul></ul><ul><ul><li>Messages planned created </li></ul></ul><ul><ul><li>Slowly builds relationships </li></ul></ul><ul><ul><li>Quick, easy to implement </li></ul></ul><ul><ul><li>Client tracking options received/opened </li></ul></ul><ul><ul><li>Very long term follow-up </li></ul></ul><ul><ul><li>Guaranteed to increase income </li></ul></ul>
  11. 11. More Leads, Lower Costs, Higher Profits <ul><li>Generate traffic </li></ul><ul><li>Capture customers </li></ul><ul><li>Identify hot leads </li></ul><ul><li>Incubate cold leads </li></ul>
  12. 12. Generating Traffic <ul><li>Take advantage of offline presence </li></ul><ul><li>Set a budget – hire an expert </li></ul><ul><li>Use a combination of online practices </li></ul><ul><ul><li>Search engine marketing </li></ul></ul><ul><ul><li>Pay per click </li></ul></ul><ul><ul><li>Directories </li></ul></ul><ul><ul><li>Links </li></ul></ul>
  13. 13. Capture Consumers – Best Practice <ul><li>Always use Opt-in </li></ul><ul><ul><li>Free Newsletter service </li></ul></ul><ul><ul><li>Free Market Watch Report </li></ul></ul><ul><ul><li>Keep form simple </li></ul></ul><ul><ul><li>Ask for time frame of purchase </li></ul></ul><ul><li>Use Listing to capture consumers </li></ul><ul><ul><li>Make search buttons Prominent </li></ul></ul><ul><ul><li>Property alerts </li></ul></ul><ul><ul><li>Save search cart </li></ul></ul><ul><ul><li>Sign up’s for open house alerts </li></ul></ul><ul><ul><li>Searching less than 3 mouse clicks away </li></ul></ul>
  14. 14. Capturing Customers Stats <ul><li>Calculate your ROI </li></ul><ul><ul><li>Cost per inquiry </li></ul></ul><ul><ul><li>Cost per lead </li></ul></ul><ul><ul><li>Cost per closed lead </li></ul></ul><ul><ul><li>2% capture rate is good </li></ul></ul><ul><ul><li>5% is gold </li></ul></ul><ul><ul><li>Bad capture rate will affect your ROI </li></ul></ul><ul><ul><li>Quality of the traffic </li></ul></ul>
  15. 15. Step ONE- Goal of Site - Get Client To Email <ul><li>Offer FREE Real Estate Reports </li></ul><ul><li>Offer Free Market Watch Update Info </li></ul><ul><li>Update information on the site regularly </li></ul><ul><li>Offer FREE E-Mail Evaluation </li></ul><ul><li>Make the evaluation Area Prices </li></ul><ul><li>Make the Property Search instantly visible on site </li></ul><ul><li>Offer New Listing/Open House alerts by email </li></ul><ul><li>Encourage all agents to carry a blackberry </li></ul><ul><li>Have email inquiries go directly to blackberry </li></ul>
  16. 16. Form Clients Fill Out
  17. 17. Warm Up Cold Leads-Incubation <ul><li>Cold leads mean potential $ </li></ul><ul><li>Ignore them means no $ </li></ul><ul><li>1% will close in 30 Days </li></ul><ul><li>2-4% addition income 180 days </li></ul><ul><li>Efficient process handling leads </li></ul><ul><li>Systematic drip marketing campaign </li></ul>
  18. 18. The Incubation Stage <ul><li>Incubation is the process by which you consistently add value to a client for as long as you do business together. </li></ul><ul><li>Knowing this over time will ensure that the relationship matures to fruition. </li></ul><ul><li>The salesperson who adds value after the sale clearly demonstrates that the relationship is more important than revenue, and the person is more important than profits. </li></ul><ul><li>Incubation is not about getting a sales relationship going. Incubation is about keeping a sales relationship flowing. </li></ul>
  19. 19. 4 Steps to The Incubation Period <ul><li>Step 1: Develop a ranking of your clients. Which are more valuable, which will refer more business to you, which will produce the highest income? </li></ul><ul><li>Step 2: Commit to a specific investment for each client. A loyal client is worth 15% a year back into to retain them, but there is no magic to it. Like any investment, you want to measure your return. </li></ul><ul><li>Step 3: For each tier, decide your annual contact plan. You must plan to have more contact with your best customers than you will with your marginal customers. </li></ul><ul><li>Step 4: Collaborate regularly. The greatest advantage you have over your competition is knowing your clients better than they do. </li></ul>
  20. 20. Drip Campaigns For Incubation Period
  21. 21. E-Mail Drip Marketing Conversion System <ul><li>An e-mail drip-marketing system consists of one or more targeted &quot;campaigns“ </li></ul><ul><li>each campaign contains a series of e-mail messages that are automatically sent to a contact (either prospect or current client) who has been subscribed to the campaign </li></ul><ul><li>Goal is too convert lead into sale. </li></ul>
  22. 22. Improving Lead Generating & Conversion Rates <ul><li>How promptly realtors respond when customers show an interest determines whether they continue to stay in touch. </li></ul><ul><ul><li>Of the people who see your ads, what percentage respond? </li></ul></ul><ul><ul><li>Of the people who visit your web site, what percentage contact you? </li></ul></ul><ul><ul><li>Of the people who contact you, what percentage become clients and customers? </li></ul></ul><ul><ul><li>Could you increase your lead conversion rates by improving your Internet, phone and mail follow-up? </li></ul></ul>
  23. 23. 8 Steps in the Conversion Process <ul><li>Smaller company/larger company process will differ. </li></ul><ul><li>Larger/have someone in the company responsible for company’s lead management system. </li></ul><ul><li>Smaller/can assign and manage each lead as they come in. </li></ul><ul><li>Pre-Screening Process-not qualifying </li></ul><ul><ul><li>checking for bogus emails and discarding them. (this will knock out 25% off the top) </li></ul></ul><ul><ul><li>Sending email to client informing them a real estate professional has been assigned. </li></ul></ul><ul><ul><li>If form filled does not require time frame of purchase/sale the email should request. </li></ul></ul>
  24. 24. 8 Steps in the Conversion Process <ul><li>5. Screening process 2 Step factor </li></ul><ul><ul><li>how serious a lead (urgency) </li></ul></ul><ul><ul><li>longer timeline - leads need go into incubation stage. (drip) </li></ul></ul><ul><li>6. Distributed to sales agent. </li></ul><ul><li>7. Agent reporting system in place. </li></ul><ul><li>8. Agent needs to held accountable. </li></ul>
  25. 25. Keys to Converting Leads into Sales <ul><li>Speedy responses </li></ul><ul><li>Track and Qualify </li></ul><ul><li>Personal Contact-within 24-48 hours </li></ul><ul><li>Be persistence </li></ul>
  26. 26. Tracking-Opened/Click Thru/Opt-Out
  27. 27. Targeting-Tracking Clients
  28. 28. Drip Campaigns - 2 Aspects to Consider <ul><li>Online software service that manages the entire process. </li></ul><ul><ul><ul><li>Should you use a Service </li></ul></ul></ul><ul><ul><ul><li>Design & implement a corporate system </li></ul></ul></ul><ul><li>What to say on the messages sent within the campaigns. </li></ul>
  29. 29. On-Line Drip Marketing Services <ul><li>PROAutoResponder.com - $17.95 PM </li></ul><ul><ul><li>Create and maintain an unlimited number of email campaigns. </li></ul></ul><ul><ul><li>No pre-written messages. </li></ul></ul><ul><li>eprospecting.com - $29.95 PM </li></ul><ul><ul><li>Over 500 pre-written messages </li></ul></ul><ul><ul><li>Add/delete/edit </li></ul></ul><ul><ul><li>View tracking reports </li></ul></ul>
  30. 30. Drip Campaign-Company Services
  31. 31. www.eprospecting.com
  32. 32. Company-Drip Campaign Manager
  33. 33. Company-Drip Campaign Manager
  34. 34. Company-Drip Campaign Manager
  35. 35. Company-Drip Campaign Manager
  36. 36. Drip Campaigns for Success <ul><li>First Time Buyer </li></ul><ul><li>FSBO Campaigns </li></ul><ul><li>Condo Buyer Campaign </li></ul><ul><li>After the Close Campaign </li></ul><ul><li>Sellers Follow-up Campaign </li></ul><ul><li>Relocation Campaign </li></ul><ul><li>Waterfront Property Campaign </li></ul><ul><li>Website Visitor – Buyer </li></ul><ul><li>Website Visitor – Seller </li></ul><ul><li>Home Improvement Campaign </li></ul>
  37. 37. Sample Drip Campaign <ul><li>For example, suppose a first time buyer prospect stopped by company/office site and requested more information. </li></ul><ul><li>You could offer them a &quot;free&quot; series of educational e-mails (i.e. your First-Time Buyer campaign) about the entire purchase process. </li></ul>
  38. 38. Sample of Drip Campaign-First Time Buyer <ul><li>Note 1 – Introduction - gives a brief overview of what they will learn over the course of the campaign </li></ul><ul><li>Note 2 – Assessing needs – helps them realistically determine what they need </li></ul><ul><li>Note 3 – Financing – providing information on financing options </li></ul><ul><li>Note 4 – Searching for homes - how to search for homes that meet their requirements </li></ul>
  39. 39. Sample Drip Campaign-First Time Buyer <ul><li>Note 5 – Making the Offer - structuring the offer for maximum likelihood of seller acceptance at the best price and total protection </li></ul><ul><li>Note 6 - After The Offer Is Accepted - checklist of things that need to be completed prior to close. </li></ul><ul><li>Note 7 – Closing the purchase – do’s and don’ts in the closing process </li></ul><ul><li>Note 8 – Using a professional - advantages of using a realtor. </li></ul><ul><li>Note 9 – Owning the home – Helpful hints to home ownership </li></ul>
  40. 40. Need Help – Elance.com
  41. 41. Floor Time & Live Chat www.liveperson.com

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