How Many Opportunities Does Your Real Estate Team Get Per Month?
What would happen if your business stopped getting leads? What if your lead volume was cut in half overnight? This has become a reality for some of our clients in light of the recent changes made to Craigslist. Having a well-diversified lead generation program is always going to provide protection against sudden changes in the online landscape, but what if your business didn’t have to live or die on a daily income of leads at all?
Lead generation is a huge part of why our clients rely on BoomTown to grow their businesses, but what really makes BoomTown different from other platforms is our unique approach to developing tools that nurture prospects, and create real actionable opportunities for agents.
So what’s the difference between a “lead” and an “opportunity”? In terms of the BoomTown CRM we consider a “lead” to be a registered user. This could come via a BoomTown-driven lead generation program, or as an import from a 3rd party source such as Zillow, Trulia, or Realtor.com. An “opportunity” however, is something that can be much more powerful. We look at an opportunity as someone who is registered on your BoomTown site, and begins to engage and take actions i.e. views a listing multiple times from multiple locations, shares a property with someone else, favorites a property, calculates a mortgage, etc. The key difference is that opportunities, like the ones we display in our Opportunity Wall, provide a stronger indicator of the user’s current intentions.
Getting users into the BoomTown CRM with a relatively low acquisition cost is very important to success, but focusing all your attention on this aspect of the sales cycle is very short sighted. “Hot” leads are few and far between. Users, particularly those using online search, tend to be much further out in the buying phase than someone who calls your office. They are looking for tools, information, and most importantly time to make decisions related to their purchase. Keeping track of people in your sales funnel and knowing when to contact can be difficult, but that’s why BoomTown’s automated tools are changing the real estate industry. By simply logging into your Opportunity Wall you can instantly see what your user database is up to, and quickly identify users to contact. Not only does this take the guesswork out of lead nurturing, it also allows your agents to focus their time on assisting qualified ready-to-buy users while letting the window shoppers do their thing.
How do we generate more opportunities?
The best part about opportunity marketing is that virtually any business in a relatively short period of time can accumulate a large enough database to start seeing results. Think of it this way:
How many leads did you get last month? How many leads did you get in the last 6 months? Last year? The real beauty of the BoomTown website is that it’s designed with a top-of-the-line user experience in mind rather than aggressively capturing user information. Home buyers love the website, and this keeps them coming back. Leads don’t simply come in and go straight to the trash; they come in and return frequently through a wide variety of traffic sources. If your lead volume is 50 leads per month that means in 3 months’ time you will have accumulated 150 users in your database through which many different types of opportunities will present themselves.
Never stop working towards improving your lead generation program. However, the next time you see a drop in leads (whether it be hourly, daily, or even week-over-week) remember what really matters: how many opportunities do you have available to your agents? Anyone who runs with BoomTown for even a few months will always have users onsite shopping and creating opportunities for agents to close deals.