A major aspect of being a real estate agent is marketing. Whether your are marketing your clients home, marketing to attract more agents to your brokerage or marketing to find yourself more buyers and sellers.
Digital marketing has become the dominate strategy for generating new business for years and with AI and automation, there are more options every day.
Technology moves fast and there are more digital marketing options than ever. The challenge is what is the best option for you that will provide the biggest ROI on your marketing budget.
Marketing is a fundamental aspect of a real estate agent's career, whether it involves promoting a client's home, attracting more agents to a brokerage, or securing more buyers and sellers for yourself.
In recent years, digital marketing has taken the forefront in generating new business, continuously evolving with advancements in AI and automation.
The digital landscape offers a plethora of options, each promising to be the next game changer. The real challenge lies in selecting the strategy that maximizes your marketing budget's ROI.
Google Ads
Google Ads has long been a reliable platform for REALTORS®, offering various ad types and strategies, fundamentally revolving around paid placements within Google's ecosystem.
Most Google Ads operate on a Pay-Per-Click (PPC) basis, where you pay Google each time someone clicks on your ad. These clicks typically direct users to a landing page designed to capture their information, often through a sign-up prompt.
The Process
Once a visitor submits their details on your site, they're usually put into a CRM (client relationship manager) that automates follow-up communications, aiming to convert leads into buyers or sellers.
Given the average 18-month real estate sales cycle, there has to be a long follow-up process. It's actually quite common for home buyers and sellers to become leads for multiple agents or brokers during their journey.
For these types of leads to convert, it's a numbers game. You keep adding new leads to a lengthy and diligent follow-up process to convert a fraction of these leads into clients.
Cut Straight to the Conversion
Inbound phone leads for real estate bypass preliminary stages, connecting you directly with individuals at the critical decision-making point of their buying or selling journey. This direct engagement is often the most efficient path to closing new business.
Pay For Leads - Not Clicks
Unlike traditional ads, with inbound phone leads, you're investing in actual calls rather than clicks. Inbound phone leads connect you with active prospects, who are ready to engage and inquire, rather than merely clicking through an ad.
With incoming phone leads, you are not paying for a click from an ad... you are paying for your phone to ring. People who are actively searching for a real estate agent and calling with questions are very different that getting a click.
LSA Ads
Google's Local Service Ads (LSA) offer premium placement at the top of search results, enabling direct calls from potential clients, paying per call.
Every incoming call is recorded so if the caller is soliciting businesses or asking for services you don't offer, you don't pay for that call.
Common Complaints
A frequent issue with LSA Ads is their tendency to show awesome results initially, only to dry up after a few weeks. This is by far the most common complaint about LSA Ads.
Also, many people encounter frustration with the approval process for these ads. The approval process can be lengthy, requiring a background check and multiple forms of documentation.
Tricks of the Trade
It is not unusual to think that some smart digital marketers have figured out how to crack the code to keep the phone ringing. Just like in any industry, the people that spend their days working these systems will get better results than a layperson who just sets up their own account.
In many instances, using a professional to maximize your ad spend isn't much different than hiring a real estate agent to sell your home. The efficiency and knowledge pays off in the end.
Inbound Phone Leads for the WIN!
Whether you choose to manage your LSA account or hire a professional, allocating a portion of your marketing budget to inbound phone leads is crucial. If you aren't doing this, rest assured, your competition will be.
Comments(2)