Lead Generation is Bill Murray’s Groundhog Day
Just because I’m in the Bill Murray mood, let me give you a prediction about real estate lead generation. It’s going to be the usual. It’s going to get more competitive. And only the top real estate teams are going to do something different.
We wait every year to hear the latest and newest strategies we can try … in order to capture more leads. But most of us fall into the same drill, day-in and day-out. Call. Repeat. Generate. Snooz….
Let’s stop freezing our butts off, worshipping old tactics that are losing effectiveness. You want to know what the top real estate teams are going to do different this year? Here’s how they’re going to generate leads:
Texting will be the Real Estate Agent’s Weapon
There’s no substitute for a good phone call or explanatory email, but in terms of conversion, there is one king in real estate: Texting. At BoomTown, we’re already seeing some of our top-producing clients use texting effectively — and it’s driving agent productivity through the roof.
On average, homebuyers and sellers are 95% more likely to read and respond to a text versus an email (which stands at an average 20% open rate).
For those who want to contact the potential client first, texting is the weapon of choice. And typically, the first agent to reach out is the person they do business with. If you need another stat to prove the point, consider this: 57% of homebuyers have already made a decision to buy real estate before they have even talked to an agent. When they give you their contact information, they’re looking for someone to facilitate that need. The first person to offer the service wins.
SlideShare will make a Presence
65% of us are visual learners. Why not explain the real estate process in a way that speaks to the majority?
The benefit to SlideShare is two-fold. One, it’s a visual device to explain the complicated process of buying a house (or selling a house). Two, it can be shared via social media and holds a unique position among online searches … i.e. searches about “how to buy a house.” Plus, it’s a medium that hasn’t been abused by competitors.
So, if you remember those desktop publishing classes, it’s time to dust off those skills. SlideShares are easy to create. They’re basically a PowerPoint shared online. You can use PowerPoint or Google Slide templates to give you a starting point (google it). And you can create your first SlideShare here.
Social Media will get Real Again
Facebook, Twitter, and even Instagram are now flooded with salesy, low-quality content. Everyone is jumping up and down to grab readers’ attention. The ones that will be most effective are the people who return to being human — talking like a normal person. And yes, I’m talking about all those “Featured Listings” and “Just Sold” posts you share. Stop doing them! Follow the Goldilocks principle. Any and all things should be done in moderation. House listings shouldn’t dominate your social media feeds.
As a homebuyer, I wish real estate agents shared more stories about their clients or problems they solved in the field. I would have loved to learn about the agent and how they helped people in my community versus all the listings for sale right now. *I’ve already registered on a website to see those listings and I get e-Alerts.
Top real estate teams will pull back the marketing pitches and show off the real side to their business. How cool would it be to hear about a funny event when you were showing off a house? Or what about you answering a question one of your clients just asked — and you wanted to share it with everyone, so they could know too? Talk about golden nuggets of wisdom.
Going back and using social media in the way it was designed will come off as genuine and authentic … two qualities every customer is looking for in a business.
Quora will be a Channel to Extend Your Reach
If you haven’t heard of Quora, it’s a question-and-answer website. Over the last few years, the community has grown tremendously. Popularity has soared. And last month, they had over 112.5 million web visitors. Back in 2012, they averaged 1.5 million visitors. Talk about growth.
Quora is a community where people ask questions like “how do I buy a house?” and “what’s the best neighborhood in San Diego?” It ranges from generic, help information to hyper-local content — both are opportunities where you can answer and display your expertise as a real estate agent.
If you want a new social media channel to extend your brand recognition and a place to get in front of new leads, this is the channel you should focus on. It’s easy to answer questions and doesn’t soak up time.
Retargeting Ads will Convert Previous Web Visitors
For most real estate websites, only 2% of web visitors convert on their first visit. Retargeting is a tactic to convert the 98% of traffic that you never captured as a “lead” the first time. What happens is, your real estate website will cookie a visitor and follow them as they visit other websites. When they hit certain locations on the internet, like Facebook or Business Insider, you can display ads specifically to them on those websites.
Here’s why retargeting is something you should invest in:
- Barely any real estate team is doing retargeting (less competition for you).
- The average click-through-rate on retargeting ads is 10x higher than regular display ads.
- Retargeted visitors are 70% more likely to convert, compared to ones who aren’t.
If you want to be a top-producing team, this is a simple way for driving business and increasing revenue. Talk to your marketing person or advertising vendor about retargeting next time you have a chance. The ROI is definitely worth the conversation.
Bill Murray will be Happy this Groundhog’s Moment is Over
Real estate lead generation can be run-of-the-mill. Teams and agents use tried-and-true methods because they work and they’re easy. But there’s a growing trend you should pay attention to: Those methods are becoming less effective. They aren’t producing the same ROI as they did in 2010.
Bill Murray is tired of living the same day over and over. This year, reach out and do something new. Become a top-producing team (or agent) with these new lead generation ideas. You’ll set yourself apart and see fast returns.