Agents need not be afraid to diversify with new lead sources. The internet may be chock-full of horror stories from agents who wasted time and money on paid online leads, but most don’t tell the full story. Agents should ask colleagues not only what sites they capture leads on but also their strategy for converting said leads. The bottom line is real estate will always be a people business. Agents who understand how online leads are generated and how to personalize their online buying and selling process will experience the greatest success.
ROI is probably the most important metric in lead generation. The calculation is fairly simple: it’s the profit or loss you make from investing in a lead, compared against your initial investment. Let’s say you spent $15 capturing each lead, and a lead is worth $20 to you. Your profit from a lead ($5) against your initial investment ($15) gives you an ROI of 33%.
Lead nurturing also increases lead to opportunity conversion rate, drives more revenue, and shortens the sales cycle. It is about finding the right buyers at the right time. Lead generation brings buyers into the funnel, but lead nurturing and scoring sends them to sales so that your sales team can close the deal at the right time. In fact, according to MarketingSherpa’s Lead Generation benchmark report, companies who leverage lead nurturing see a 45% lift in lead generation over those companies who do not use lead nurturing.
Email marketing is not dead and is definitely one of the most effective lead generation tool according to Digital Marketing experts. iContact reported that even though email is an old internet marketing tool, many still use email heavily on a daily basis as indicated in the graph below. The report states that email marketing still delivers a good deal for your investments, averaging a $44 ROI for every dollar spent if proper email marketing techniques are used and executed.
Automatically move inbound leads over to your CRM using marketing automation workflows and assign them to appropriate sales reps when they reach lead scoring thresholds and/or trigger specific behaviors, such as requesting a free trial or demonstration. Use segmentation rules to assign leads to an appropriate sales rep, for example by territory or industry. This process should be carefully planned in Step #1.
Chadwick Martin Bailey, another expert market research firm, reported that up to 51 percent of Facebook users and 67 percent of Twitter fanatics will most like purchase recommendations from brands they are a fan or a follower of. Such is the impact of Social Media on lead generation and sales that revenues are expected to go up exponentially in the coming years according to experts like eMarketer in their report on the US Social Network Ad Revenues 2012-2015.
Several vendors offer computer programs designed to assist businesses in lead generation. Ethics are an important consideration in the choice and implementation of such programs. The use of spyware, Trojans or other intrusive means of gathering information without the knowledge or consent of targeted individuals or entities is frowned upon. Mass unsolicited e-mail advertising (or spam) is also considered unethical by many, and it can result in electronic blacklisting.
LeadsOnline is a national online investigative system used by more than 3,000 law enforcement agencies to recover stolen property and solve crimes. Each day, millions of items are added to the LeadsOnline database by businesses including second-hand stores, scrap metal recyclers, pawnshops, and Internet drop-off stores across all 50 states. Those records are instantly available to law enforcement agencies, meaning crimes can be solved in seconds, not months. The LeadsOnline system, compatible with the NCIC, serves as an indispensible, efficient, and money-saving resource for detectives because it provides a cross-jurisdictional, instantaneous, and accurate database that stops criminals from escaping detection by selling stolen items in another city. An official eBay partner, LeadsOnline helps prevent illegal transactions on the eBay website by giving law enforcement access to the world’s largest online marketplace through automatic upload of all eBay transactions into the LeadsOnline database. LeadsOnline also includes LeadsOnlabs, a system for tracking those involved in the illegal manufacture of methamphetamines; a Metal Theft Investigation System designed to track copper and other metal thefts; and cross-checks names of pawn customers against the OFAC SDN list of known terrorists and narcotics traffickers.
Facebook has been a method for lead generation since its inception. Originally, companies could use outbound links in their posts and information in their bios to attract strangers to their websites. However, when Facebook Ads was launched in 2007, and its algorithm began to favor accounts that used paid advertising, there was a major shift in how businesses used the platform to capture leads. Facebook created Lead Ads for this purpose. Facebook also has a feature that lets you put a simple call-to-action button at the top of your Facebook Page, helping you send Facebook followers directly to your website.
Use social media. Posts asking people to join your team won't likely produce results, but if you're clever, you can use social media to generate interest in your business and possible leads. For example, if you sell weight-loss products, you can promote before and after pictures on Pinterest or Instagram. If you sell makeup, you can post tutorials on YouTube that you share across social sites.
You may think direct mail is a thing of the past. But it’s still effective for targeted communications. Consider a content asset developed for high-level executives. Executives don’t usually browse the web for information. And it can be hard to get through to them via email. That means they may not come across the content you’ve developed with them in mind. This is where direct mail can prove powerful. You could send a direct mail piece to this audience to make them aware of your new, targeted content asset. Direct mail also gives you a chance to grab the attention of a hot prospect by being creative and interesting with your message and presentation.
Cost per thousand (e.g. CPM Group, Advertising.com), also known as cost per mille (CPM), uses pricing models that charge advertisers for impressions — i.e. the number of times people view an advertisement. Display advertising is commonly sold on a CPM pricing model. The problem with CPM advertising is that advertisers are charged even if the target audience does not click on (or even view) the advertisement.