Q&A: Online leads conversion
Question:
I am offering a list of open houses & price reduction homes for whoever raise their hands. Then I call, my excuse to call is that before I email the list to you, I need to know the type of home, location of the home and price point of the home so that I can send you something more relevant. From there I keep the conversation going by asking their situation and motivation etc. However, they always ask me to email them the list and then they will disappear on me after so I always feel like I have to chase them around.
Answer:
2% is reasonable conversion rate. On internet leads you can expect 2-5% lead conversion. If you have very strong long term follow-up you can get up to 5%-10% over 12 months as many leads will take time to convert.
Your primary goal is to meet w/ them face to face ASAP from the inquiry, that is where you will make the connection w/ them.
You'll get a real sense of your overall lead conversion rate after 6 months. So be patient and continue your follow-up.
Remember, internet leads are trying to accomplish a "task" which is usually getting information that is not available on the internet or is promised on your advertising.
The type of advertising you are running will affect your lead conversion rates... i.e. if you advertising tips on buying a house, those leads are top of the funnel vs. advertising a specific "coming soon" is more bottom of the funnel, closer to converting.
NAR data indicates that consumers look at an avg. of 10 homes over 10 weeks (from the time they start actually physically looking at homes), so you must follow-up the most during that time.
If you want a pipeline that converts faster, then you must advertise properties or opportunities to get people looking at homes w/ you to start that clock.
If they go silent on you, be sure to try contacting them using different ways, i.e. call, text, email, FB message, linkedin, etc.
You must follow-up alot because you must catch them in a moment when they have both the time & motivation to speak w/ you.
If they do go silent, you can try using something like....
"Hi, Mr. X. I'm reaching out to you as we have a few off-market / pocket listings that are coming up. Please let me know if you are still in the market as these may interest you..."
The curiosity of a that may get them to resurface again and at least give you a response if they are in the market or if they have already purchased.
Remember that you should go into this expecting that only 2-5% of online leads will convert within 6 months
I am offering a list of open houses & price reduction homes for whoever raise their hands. Then I call, my excuse to call is that before I email the list to you, I need to know the type of home, location of the home and price point of the home so that I can send you something more relevant. From there I keep the conversation going by asking their situation and motivation etc. However, they always ask me to email them the list and then they will disappear on me after so I always feel like I have to chase them around.
Answer:
2% is reasonable conversion rate. On internet leads you can expect 2-5% lead conversion. If you have very strong long term follow-up you can get up to 5%-10% over 12 months as many leads will take time to convert.
Your primary goal is to meet w/ them face to face ASAP from the inquiry, that is where you will make the connection w/ them.
You'll get a real sense of your overall lead conversion rate after 6 months. So be patient and continue your follow-up.
Remember, internet leads are trying to accomplish a "task" which is usually getting information that is not available on the internet or is promised on your advertising.
The type of advertising you are running will affect your lead conversion rates... i.e. if you advertising tips on buying a house, those leads are top of the funnel vs. advertising a specific "coming soon" is more bottom of the funnel, closer to converting.
NAR data indicates that consumers look at an avg. of 10 homes over 10 weeks (from the time they start actually physically looking at homes), so you must follow-up the most during that time.
If you want a pipeline that converts faster, then you must advertise properties or opportunities to get people looking at homes w/ you to start that clock.
If they go silent on you, be sure to try contacting them using different ways, i.e. call, text, email, FB message, linkedin, etc.
You must follow-up alot because you must catch them in a moment when they have both the time & motivation to speak w/ you.
If they do go silent, you can try using something like....
"Hi, Mr. X. I'm reaching out to you as we have a few off-market / pocket listings that are coming up. Please let me know if you are still in the market as these may interest you..."
The curiosity of a that may get them to resurface again and at least give you a response if they are in the market or if they have already purchased.
Remember that you should go into this expecting that only 2-5% of online leads will convert within 6 months
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