Lead generation. It’s one of those illustrious phrases in the real estate business that can make even top-producing agents cringe. Creating a system that works – that drives prospects and profitability – can seem daunting and downright overwhelming, even to the most seasoned professional.
But lead generation doesn’t have to be overwhelming. When broken down into bite-sized pieces, your lead generation strategy can be a focused and integral piece of your business model. It all starts with setting your goals. After all, what good is a strategy that can’t be measured? Once you have solid goals in mind, what can you do to get your ideas out of the planning stage? How can you make sure you’re on target to meet your goals?
We’ve curated four actionable steps that you can start today to ensure you’re reaching your lead gen goals.
#1: Look for ways to increase lead flow
If your lead flow is below your target goal and you want to ramp up quickly, consider purchasing leads to get you started. This can be particularly useful for new agents who lack the connections and referrals of seasoned agents, but want to hit the ground running.
#2: Ensure your response time is up to par
Nothing will kill a lead faster than slow response time. According to a study conducted by Prof. James B. Oldroyd at MIT, you’re 100 times more likely to reach your prospect if you call within 5 minutes of their inquiry versus 30 minutes and 21 times more likely to qualify a lead if you call within 5 minutes. What systems and alerts do you have in place to ensure your response time is up to par?
#3: Evaluate your lead generation ROI
The most recent REALTOR® Technology Survey Report by NAR suggests that more than 46% of agents spend up to 5 hours a month on their website, yet only 28% are satisfied with the amount of web leads they receive from their website. Perhaps it’s time to re-evaluate your lead generation ROI. Are you better off spending the time to develop a website, get traffic moving to it and creating content to follow-up with prospects? Or, should you consider buying leads? Maybe a hybrid of the two? Take this a step further and consider the return on your investment of your efforts when you compare traditional methods of prospecting and farming to using paid leads.
#4: Brush up on your closing skills
You’ve got the systems in place, you’ve captured a lead, and you’ve responded to the prospect in lightning speed. Now what? Improve your ability to close leads by brushing up on your dialogues. Use dialogues that work for buyers and sellers and personalize them to your specific market.
These are just a few actionable steps that today’s top agents and teams are using to see greater lead gen results. Which will you implement today? To learn more about the systems and processes above, be sure to visit marketing.realtor.com.
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