Fundamentals of Lead Generation
To be able to produce high-quality leads without spending too much, we must understand the fundamentals of marketing. Calling up Zillow and getting a zip code is not marketing. Most real estate agents spend too much on Zillow. Marketing at present includes involvement in the content game, digital space, social media platforms, serving buyers and sellers, and promoting your business through various platforms. Two things affect the business of real estate agents lead inflation and commissions which are always under pressure from discounters. If you cannot show the value of your business to your target audience, the risk of getting outbid from competitors is high.
Change of Strategy
One way to monitor your business is to measure how many transactions will get a referral by the time you got to the closing table. Then, the company could shift its strategies as a direct response. The new plan will involve doing direct emails and text messages. Direct mail strategy refers to sending postcards to people to initiate calls. These postcards and letters should have good content to get a positive response. Another method is the expired listing strategy. In this strategy, one can use REDX to grab information on expired withdrawn listings. This information is transferred into MLS. Then, you can do handwritten letters to these expired listings.
System and Social Proof
To be able to evaluate your business, it would require a system. A system is a series of things that you do. After this series of processes, you will obtain a result upon which you are going to strategize to produce your desired outcome. A case study can be done to know if a system works. Testing a system is like applying different methods or strategies to increase the conversion rate.
Another strategy to implement is getting definite social proof. It is different from the expired listing strategy since it focuses on the marketing side, especially for websites. You can employ your social proof next to your blog post so that people can stumble upon it. It will only show that several people are satisfied and happy with your service. Reviews on the website and Google My Business page are helpful in this aspect.
Google My Business Page
If you want to build your social proof, creating a Google My Business page is recommended for beginners. It is free, and the reviews that you get will be highly beneficial to your business. Google works by using these reviews for hyperlocal search results and search algorithm. It means that the more reviews you get for your page, the higher the chance that you will be on the first page of hyperlocal Google Search results.
Getting the Lead from Reviews and Referrals
Some real estate business gets ahead of others because it has a long established directory listing compared to others. One significant factor is the number of reviews that your business is getting. You cannot beat a well-established company by getting a ton of reviews, but you can achieve a better placement with these reviews. Getting reviews will also require time, but it will give a positive outcome since you are also improving your hyperlocal results. For the referrals, one method to increase the number is to have your clients evaluate your performance, and if it did not deliver as promised, they would provide points for the business to improve.
Bonus Content: Key Strategies and Tips to Attract Ideal Clients
There several ways to create a meaningful conversation to attract the clients to do business with you. One of them is to build a database of clients with information such as birthdays. You can log these dates into a CRM and do birthday calls. You could also send postcards to them during the holidays to keep in touch. It is essential to be consistent with the CRM that you are using. Do not leap with one CRM to another since familiarization and setting up in these platforms would also take time. It is a good idea to invite your clients directly to your office to discuss your services. Consistent communication also shows professionalism. For the final tip, you have to remember these three key points. Build a database, get social proof, and do videos.