If you are lost in the hype of lead generation and not focusing on client generation, you are likely wasting time and missing out on closings.
One of the single worst things for a REALTOR® is finding out that a lead they spoke with a few months back bought or sold a home with another agent. As the market heats up and everyone becomes swamped in the day-to-day business of selling homes, it’s easy to understand how old leads can be left behind.
On the other side of the spectrum, there is nothing more rewarding than having a new client, who has been getting automated messages, call out of nowhere. This can happen if you carefully and diligently set up both your CRM and marketing automation.
The past few years I’ve traveled around the country and had the opportunity to meet thousands of REALTORS® who are passionate about growing their business and sales volume. In talking with some of the most successful agents, it quickly became clear.
Those who are highly successful focus on maximizing their ROI on every lead source before generating more leads.
Only when they have put systems in place that tell them what’s working and what’s not, do they spend more incremental marketing dollars.
Here are a few questions to help you examine your current business and if you have the right CRM:
- If all your leads were tracked in one place (including sign calls, open house leads, Zillow, Trulia, personal website, referrals, etc.), would your conversion rates improve?
- If you were sending relevant, personalized and consistent messages to your leads, would your conversion rates improve?
- If you had access to ROI reporting for all lead sources, would you be able to make better decisions on your marketing dollar spending?
Many agents fully understand they should be doing these things, but simply get bogged down in the day-to-day “busy-ness” of selling homes.
Because of this, they don’t implement systems or processes for generating the highest possible return from their lead volume.
Centralize Every Lead in One System
There are many CRM systems with robust functionality that target REALTORS®. My advice, pick one that works within your budget and one that is simple enough for both your team.
Here are the four basic CRM features needed to successfully turn leads into clients – check yours to make sure you have them:
- Personalized Email Campaigns - Make sure you configure your system with personalized messages to prospective clients based on their profile and search. For example, email messages that a first-time home buyer might find interesting won't work for somebody who has a long history of buying or selling houses.
- New Listing Alerts – Both buyers and sellers love to see what is currently happening in the real estate market. Set prospective sellers up on listing and sold alerts in their individual neighborhoods. Set buyers up on listing alerts for their primary and secondary areas. And, most importantly, include verbiage that indicates you will happily modify the search if need be.
- Behavior Tracking – Understanding if your lead is opening your emails or reviewing the listings you send is profoundly important and a key to your conversion success and future business.
- Tasks and Call Reminders – After you have received engagement back from a lead (text, call or email), decide what the next logical action step is, then schedule a task to pop up on your screen’s to do list the date you want and remind yourself so it is not missed and the lead is not forgotten.
These are the four basic features you should be utilizing if you want to maximize your lead conversion.
By leveraging technology to automate marketing and lead follow up, you can focus your time on working with clients ready now, but have the confidence knowing your new client conversion is on autopilot.
Remember, it takes discipline and dedication to break old behaviors and put new systems into action. Dedicate the time to optimizing your business. The long-term payoff is huge.
This article was originally featured in the April Issue of Real Estate Agent Magazine.