WCR Summit: Cashing In On Lead Conversion

Cashing in OnLead Conversion

©2010 The Company CEO, Inc. - All Rights Reserved

Jonathan D. Nicholas, The Virtual CEO

The Company CEO, Inc.www.JonathanNicholas.com

(847) 881-6535

Cash Cow or Mad Cow?


Agents Love Leads!


Comments heard in a competitor’s office….

“These internet leads are worthless!”

“They won’t return my phone call!”

“None of them are ready to buy!”

“They told me to stop stalking them!”

“I’m not taking any more internet leads!”

Lead Conversion Paradigms


Past Client Referral

Floor Call



What are leads?

Impersonal Removed No Relationship Just an Email

Suspect Tire-Kicker Unresponsive Distraction



Leads are…

- Real People - With Dreams

- Goals & Desires - Needs to Fill - Real Estate

Question - Doing Research - Shopping for an

Agent

Technology Disconnect


The Internet Empowered Consumer Average Internet Buyer is:

29 Years Old Getting Younger Every Year

Technology Disconnect


On the Flip-Side… Average Agent:

51 Years Old Not Getting Younger Every Year Average Broker is 54

Lead Conversion Paradigm


Are all internet leads bad?? Not if you take the time to understand a little more

about them.

Lead Realities


According to a NAR study on Internet Buyers and Sellers: They tend to have higher Incomes They tend to be better educated They have a shorter search time They view fewer homes They are more likely to use a REALTOR

Lead Realities


According to a CAR study on Internet Buyers and Sellers: 92% found their agent on a web site 63% found through a search engine 0% found agent through brochures, flyers,

yard signs or mailers. 100% started looking at homes first, for their

agent second.

Lead Realities


Gen-X and Gen-Y (Age 14-43)

86% used the internet to find a real estate agent 45% used the internet to find a real estate

company 75% used the internet to find their actual home 66% used the internet to get finance their home 62% used the internet to get neighborhood

information

Lead Realities


According to a CAR study on Internet Buyers and Sellers:

Internet buyers took 2/3 less time Internet buyers interviewed only one agent;

others interviewed three Internet buyers were far more satisfied in

every research category of satisfaction than traditional buyers were

Lead Realities


According to a CAR study on Internet Buyers and Sellers: 97% of internet buyers said that they would

use the same agent AGAIN!

5 Key Lead Conversion Strategies


#1 - RESPOND! Respond immediately! Respond in the fashion that they indicate or

request Email Phone Text Social Media



Why Respond?

Because 50% of leads never hear from anyone.

More Reasons to Respond


The Psychology of Responsiveness: Professor Judith S. Olson, UC Irvine

People are willing to pass judgment with or without good information

People rely on voice, body language, facial expressions, etc.

What do they rely on when they can’t interact? Video with Audio Voice (Only Audio) Written Word

When they don’t have any of the above? How Quickly You RESPOND!

More Reasons to Respond


Percentage of those who used the first Real Estate Professional they talked to: 80% of all Buyers 74% of all Sellers

What Do They Expect?


15 to 20 Minute Response Time 15 Second Site Patience 4 Second Property Patience “Connected” Agent

All the information All the images The good, the bad and the ugly Available

We’re Failing Miserably


Alarming Reality $2 Billion was spent to drive online leads We are only nurturing 10% of the pie We lost out on the other 90% due to our own bad

habits



#2 - Follow-Up!

80% of those responded to never hear from the agent again.



Keep Communicating: K.I.S.S. Principle – Simple, Short and Sweet Communicate no more than twice per week in

Phase 1. Communicate no more than 3 times per week in

Phase II. Emails: 50 words, personable, not scripted or

automated Don’t sell yourself, your credentials, or your

service. Be prepared to follow-up until they tell you to drop

dead.

Don’t Ever Do This!!


Actual Emails Received from Agents



Ideas for K.I.S.S. emails: Think in 140 characters or less – as if you were

texting:

“Just checking in with you on your home search…” “Checking to see if your search is yielding suitable

properties.” “How is your home search going…” “I saw you were on the site today – did you find

everything…” “What does your dream home look like?”



#3 – Create Automated Follow-Up CampaignsOnce You Know the Prospects Preferences: Home-buyer Home-Seller First Time Home-buyer Renters F.S.B.O. Market Trends or Newsletter Expired Niche Market



#3 – Create Automated Follow-Up CampaignsMix Up Your Media: Email

HTML Text Email

Print (mailing address) Voice Video Message

Use Your Webcam Text Message



www.TextMarks.com



#4 – Provide Value Loan Program Details Area, School, RELO Information Market Stats Tips

Buyer & Seller Top Selling Areas Top Real Estate Mistakes Free Reports

Articles Links to Resources Education 101



#4 – Provide Value Solve Their Problems!

5 Key Lead Conversion Strategies http://www.sellmyhomeinmetrowestma.com


5 Key Lead Conversion Strategies Send a Link to Your Own YouTube Videos


5 Key Lead Conversion StrategiesWhere Do I get Content? www.TheFreeLibrary.com www.ArticleAlley.com www.FrogPond.com www.GoArticles.com www.PagesMag.com www.BankRate.com www.HouseLogix.com

Provide Attribution, Link to Article, Author Tag Line, etc.




#5 – Invest in Systems & Technology to Automate Process CRM – Relationship Management Activity Plans & Campaigns Newsletters Integrate with MLS

Email Notifications Favorites & Preferences

Direct Mail Options Scheduler for Sequential Track Opens & Links

Cashing in OnLead Conversion


Jonathan D. Nicholas, The Virtual CEO

The Company CEO, Inc.www.JonathanNicholas.comToll Free: (847) 881-6535

WCR Summit: Cashing In On Lead Conversion

Technology

Transcript of WCR Summit: Cashing In On Lead Conversion