Answer this. As you grow your business, how are you scaling up your lead generation?
We’ve all heard the famous quote from Glengarry Glen Ross: Always. Be. Closing. But have you wondered if you could close more deals?
Due diligence isn’t the problem. You call every lead that comes through the door. You know which ones are ready to buy and which ones need a few extra months. And then the unthinkable happens … those months go by. Now, where are those leads who were a few months out?
Keeping track of all the business elements is time-consuming. You need to help current clients close out. You need to show houses to interested buyers. And you’re dealing with the daily barrage of questions and phone calls. New leads are just another task to tackle, and handling them seems to be one of the hardest things to manage on the to-do list.
There is help, though. You just need a couple of smart tactics…
Starting with Alignment
Real estate envelops sales, marketing, customer service, and even a product (i.e. houses). Once a lead registers, how do you take them through the process?
There’s a level of selling you’ll need to do, for both the houses they’ll see and why they should use you as their agent. There’s a level of customer service you need to bring, so the client feels comfortable buying/selling a house. And then, there’s the product – all the houses listed on your website and IDX feed.
Most of these contact points will involve more than just you. There could be a showing assistant, ISA, or mortgage lender involved. Making sure everyone is all on the same page is critical to scaling any lead generation process. If you aren’t, leads could be slipping through the cracks and joining a competitor.
Lead Generation Strategies that Scale
Here’s a story that will interest you. When Barack Obama first ran for president, there was one strategy he used throughout the campaign: Be everywhere. No duh, right? When his Chief-of-Staff visited top executives from companies like Google, Facebook, and Fortune 500 businesses, he learned one thing: You don’t know where people will learn about you, so cast your “marketing net” as wide as you can.
There are two strategies you can use. One is what I dub the “throw money at it” strategy, and by that I’m referring to paid lead generation. In real estate, the majority of leads you receive start their home search online. They want to see what homes are on the market before they contact an agent. Having a paid advertising campaign on search engines like Google and Bing are really easy to scale with operations. The catch-22 is you have to keep paying for the ads to receive leads.
The second strategy is what I call the “plant it, water it, and watch it grow” strategy. Here, I’m talking about inbound marketing (the organic stuff). Instead of money, what you need is perseverance. Inbound marketing takes longer to see results, but typically delivers higher quality leads. Some tactics involve blogging, posting on social media, and SEO optimization.
The key to make this strategy work is consistency. It’s like growing a plant. You have to water it every day to see it grow, but when it reaches full bloom, it’s absolutely beautiful… for your business.
Paid Lead Generation: Run digital ads on search engines like Google and Bing. It generates leads quickly, but at a cost. You’ll definitely want to consult marketing experts to make sure it runs at full effectiveness.
Inbound (Organic) Marketing: Take the time to engage visitors on social media, write blog posts that are valuable to your clients, and double-check your SEO. It takes time to build up an online presence, but the results are satisfying (since you don’t have to continue paying for leads).
Marketing Automation & CRM Integration
This is where technology helps you get smart. Any marketing strategy you implement, it’s vital to have it aligned with your CRM system. It’s an even bigger benefit if your CRM already automates a piece of the marketing, such as register forms for your website or dialing phone numbers.
Confucius use to say: People who do small misdeeds think they have little impact, so they keep doing them, not realizing over time, they add up and drive them to larger crimes.
Automating any piece of the work, no matter how small, adds up – giving you and your team more time to service leads. Plus, having the data stored in one system allows everyone to stay on the same page. Think of your CRM as the iPhone to your business. You add apps to the phone, so you can do different things. The same applies to your real estate system. It’s a home-base with additional tools tied to it, so you can market new business, call leads, track their behavior, and so on.
Have a Lead Nurture Process
Here’s the lynchpin to scaling real estate lead generation: You need to build or establish a lead nurturing process. It should be clear and defined, down to the letter. Every step, every action should be outlined. The less thinking real estate agents have to do (on what to do next), the more thought they can give to sparking a good conversation or servicing their needs. This is why I mentioned automation above, as well.
If you can build a to-do list or an email drip campaign, it saves your team tons of time. Having the tasks laid out clearly helps reduce the time and labor further. This will ultimately help you close more deals.
Segment Your Real Estate Leads
Think of segmenting as your filing system. Proper organization and categories helps agents remember what stage the homebuyer or seller is at. Sure, some of them are ‘hot’ and ready to buy. But others need nurturing. From there, the list could break out into a myriad directions, like “Interested in New York City” or “Looking for Waterfront Property.”
Segmenting your leads allows you to do more than organization. It also allows you to get granular with your communication and sales pitch.
Think about how much better your conversation (or emails) will go if it’s tailored to the lead’s need. Ex: For someone who wants to live on the beach, it’s ten times better to email them about new beach houses than it is to send a generic “new listings” email.
Closing More Real Estate Deals
Remember: Align, strategize, automate, nurture, and segment. ASANS – let’s just whisper assassins to make this acronym cool. Implementing these tactics will help scale your real estate lead generation, so you remain effective at your work. Scaling up allows you to provide a better customer service and keeps your brand within a positive viewpoint.
And don’t forget: Coffee’s for Closers.