Archive for 'report'

Following Up: The Secret To More Sales

This is step 4 of a five-part series on how new agents can successfully break into the real estate market.

Most small-business owners (myself included) are guilty of not following up with all leads they generate. When leads pour in, it’s tempting to cherry pick the low hanging fruit while ignoring all the others who aren’t quite ready to hire you yet.

In yesterday’s post, I discussed how to create education-based marketing materials that your prospects will want to read. The purpose of creating those types of marketing materials is to get prospects to self-identify themselves as interested in what you have to offer by giving you their contact information and permission to follow up.

Let me be clear: Just because someone provides you with contact information in exchange for information doesn’t necessarily make them a lead – yet. (The same is true for most lead-generation services that charge you big bucks per “lead.”) Inquiries and registrations are not the same as “qualified leads.”

Yet what do people think to do? Call all those people who downloaded their free report and pitch their services. And often, those calls are a waste of time – worth just slightly more than cold calls.

So how can you weed out the low hanging fruit from those that aren’t yet ripe? One option is to ask them their timeframe for buying and provide a checkbox that states “Please contact me for a free consultation.” Those who say their timeframe is immediate or within 1-2 months and who request a free consultation are good candidates for “leads.” Everyone else probably falls into the category of “not yet ready to buy” and should go into your lead-nurturing system rather than tossed aside and forgotten.

What is Lead Nurturing?

Simply put, lead nurturing is what you do to keep in touch with people once they’ve given you permission to market to them. The best types of lead nurturing are systematized, automated or fall under your regularly scheduled marketing activities.

What does that mean? Well, if someone downloads a free report from your website, several things should happen:

  • They are added to your email newsletter mailing list
  • They receive a series of follow-up emails from you (generally these are autoresponders that are triggered when someone adds their email address to your mailing list).
  • They receive offline follow-up such as sales letters, thank you notes, or other correspondence.

These follow-up emails, newsletters, and correspondence should be written in an informative way with the intent to get readers to engage with you. In other words, you don’t want them to just passively read it – you want to get them to do something because of it: like provide feedback, ask you a question, request other freebies, register for a seminar or workshop, visit a blog post, buy a product from you, give a testimonial or referral, or request a consultation with you.

The more people interact with the content you provide them, the more likely they are to see you as a trusted advisor who is a local real estate expert.

Why Bother with Lead Nurturing and Follow-Up?

There are a few reasons why you should put a lead-nurturing system into place:

  • Nurturing leads is cheaper than prospecting – You spend considerable amounts of money trying to acquire leads – why throw them away because they aren’t quite yet ready to buy? Many will buy at some future time – and since you’ve already gotten their attention, gotten them to respond, and gotten them to allow you to follow up with them, why wouldn’t you spend a few cents each month sending them your email newsletter, your series of follow-up reports, and maybe invite them to a seminar down the road? That sure beats advertising or sending direct mail to people who have never heard of you and have no interest in what you offer in the hopes that someone, somewhere, might need a real estate agent.
  • Nurturing reduces risk. When you sell a service, you’re selling something intangible. People don’t understand the value they’ll get until you’re actually working for them – and they’re hesitant to hire because it requires they make a decision. Which should they choose? What if they make a mistake? What if they can’t sell their house or can’t find a home in their price range? What if something goes wrong? What if they get ripped off?

    Prospects have a laundry list of fears they must overcome before they’ll hire someone and, to justify their decision, they’ll pick and choose evidence around them. They’ll look at how you sell your services, the quality of the information you provide, what your office looks like, how you dress, whether you tell them information that contradicts what they think they already know.

    When you continually follow up with them by offering them new information and interact with them via your newsletter, blogs, sales letters and other marketing materials, you start to build a relationship with them. As they get to know and trust you, working with you seems much less risky.

  • Nurturing builds relationships and trust – The more people interact with you and your content, the more likely they are to get to know, like and trust you. People prefer to do business with those who understand their business needs and express a genuine concern for their well being rather than those who are looking to make a quick buck at their expense. As you follow up, show your personality, and continue to offer great advice, you become a trusted advisor – the person they will turn to for their real estate needs.
  • Nurturing educates prospects – When prospects call you, you are at a disadvantage. Often these prospects have certain expectations about what a real estate agent should do for them – and in many cases, those expectations are misguided and run counter to what it takes to actually buy or sell a home. They might hear negative things from the media, or watch HGTV programs designed more to entertain than sell a home, or hear stories (good and bad) from their friends and family about what real estate agents did or didn’t do. When a prospect is in your nurturing system, you can re-educate them about what to expect. You can bring up issues they probably haven’t thought of and guide them through the process so when they’re ready to buy or sell, they already know the right way to go about it.

Your client list is your business’ most valuable asset. Your prospecting list is probably its second most valuable asset, as these people have a much greater potential to evolve into clients than the average person on the street.

Tomorrow I’ll conclude this series by addressing how you can generate leads with referral partners.

Selling Fear & Entitlement To The Culture Of ME

With CNN in the background I hear an "expert" explain that Wall Street is based on "fear and greed. And fear is a much more powerful driver for investors."

What does this have to do with real estate?

Its about confidence.

Mommy Congress and Daddy Bush have asked Granddad Paulson to give the markets a "loan".   Seems we all overspent a little too much over the past few years and need some help to get by."Rock a bye Baby, it will be OK".

Its also an election year. I ran scared when I heard one candidate say in an interview he has  "a little something for everybody". But this bailout package eclipses any "giving" our candidates could ever promise.

So it is a confidence issue. Confidence game as in con job. We all know granddads loans are really gifts in the real world. With low interest and no due date.

However Government money comes from two places. Taxes or they just PRINT MORE.

So my point is to not think that our parents in DC are going to help. As I implied in a recent post. Prospecting and selling will take care of you and yours.

The reporters are all whining this is the biggest meltdown ever. On the same broadcast I heard at least a couple misrepresentations of the AIG bailout. Puleeze. Aren’t you tired of people explaining this thing after just learning the meaning of LIBOR a few days ago?

They will overhype. However, they also over hyped the run up. Good for goose I guess. But, it is time to take matters into your own hands.

Online we can cause geometric attitudinal change. This blog alone is syndicated all over the place. What are you doing online?  Are you making good things happen in your market? Isn’t it time?

Financing ran the last market. What about now?It is is still about financing. The agents who know financing will not only survive they will position themselves to dominate their markets as this thing turns the right way. Pre-1980 agents had to do all kinds of creative deals. Pull out those old sales training manuals.

Assumptions, carry backs, wrap arounds. Get comfortable with these ideas as it may be your way to transact as banks freeze your deals. Oh by the way, when you are the only one who knows how to get a house financed, the "will you cut your commission?" question quite insulting.

The only ones that will create real confidence in the real estate market is YOU.

Cogent and Sprint Break the Internet!

Tens of thousands of public internet addresses located on Cogent’s  backbone are no longer accessible from Sprint Customers. This disruption is affecting thousands of web properties including WebProNews.com. Drudgereport.com was also affected by this outage but has apparently managed to route around Sprint’s network.

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Broadband Users See Service As A Must

High speed Internet customers like their service but 30 percent are willing to ditch their provider if they can find a more affordable service elsewhere, according to a report from J.D. Power & Associates.

Cost savings is cited by 69 percent of high-speed Internet customers and 40 percent of dial-up customers as the main reason they would consider switching providers.

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Content Promotion Strategy

See the light, be the lightHere’s a content promotion strategy that is used by some of the top internet marketers although they don’t talk about it all that much (probably because they don’t want everyone using it).  😉

Guide as much traffic as possible to the content sharing sites that link to your lead generation site first and foremost.  Then have your lead generation pieces (downloadable reports, how-to videos, free trials, etc.) somehow link to your money site instead of linking straight to it from all possible sources. Complicated? It can be, but it can generate huge results if done properly.

A little more on this strategy: build the value of the content sharing sites, and their value will trickle down to your lead generation site which will then promote the site you’re ultimately hoping to generate revenue from. Sounds a bit counter-intuitive, but it works because people are naturally curious and will take that extra step if they find your content valuable and interesting.

Think about it this way–if someone views one of your videos that promotes a free report on your lead generation site, and that person finally lands on your money site (after you’ve collected a lead and gotten some marketing materials in front of), they’re likely pretty interested at that point, right?

Furthermore, if you write a quality article or create a video about a topic within your chosen niche, link to that article or video from the social bookmarking sites (or better yet, have someone else do it for you) instead of linking directly to your lead generation content or your main site.

Many people make the mistake of driving ALL links to their main site (I did this for too a LONG time until I learned this lesson). If you learn how to leverage the content sharing and social bookmarking sites properly, you can ultimately generate a ton of very qualified traffic to your “money” site while limiting its exposure in the process.

Hopefully this all makes sense, but feel free to comment below if you’d like me to dig deeper.

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