This grin comes over my face every time I hear the “worn and torn” arguments against internet marketing. It is possible that your follow up stinks, like your favorite Lead Reseller likes to say. It could be that your leads are weak, Glengarry style. Perhaps it is because you require registration in your IDX (which equals murder, by the way). All that could very well be true. But it’s not the reason why internet marketing is not working for you. The truth is you might have never had a chance to begin with…
It’s the premise, stupid.
Internet marketing works for a lot of people – many of them in real estate. Stratospheric return on investment rates driven by rows upon rows of skinned cats generated at relatively minuscule costs. Internet marketing is spinning wheels in the mud that get nowhere for a lot of people, too. Ever wonder why that is? Is it because the first group are smarter, geekier, more forward thinking visionaries while the second are tech-challenged Jurassic Park residents? Not in the slightest. What the first group understand that the second one doesn’t is this:
Prospects generated by your marketing are as good as
the premise that was used to get their information.
Think about that for a second. Once you grasp that concept, you can look at marketing through a brand new lens. Now you see why leads generated by that “Enter your name, win a free iPod” banner ad are bored 12 year olds? Do you understand now that offering a free CMA will get you many names but not very many Sellers? Is it clear now why that sugarfrosted “Why Rent, when you can own for $150/mo” sign makes the phone ring off the hook with suspects that have less than a popsicle’s chance in hell to get approved? It’s the premise.
Four tips to convert more prospects into clients
Now that your thinking is along the correct wavelength, how can you translate it into more Washington mini-portraits and less frustration.
Ask for MORE information, not less
I see countless cases of “just enter your name and email” contact forms on websites. From personal experience, that’s a huge mistake especially in our field. If your goal was to build a fat list of names and email addresses, that’s the way to do it. But take your list to your local banking institution and ask them to convert it into cash and get back to me. Serious prospects have no problem filling out contact forms so ask appropriately. In our forms, we started asking for phone numbers, timeframe for purchase and if they’re already working with someone, upfront. It will help you focus your effort on the prospects that you actually have a chance at converting into clients.
Give browsers room to breathe
You know that feeling you get when you step into a store just to look, only to have a pushy salesman unfold a whole script on ya? That’s how a lot of prospects feel when you bombard them with questions, emails, newsletters immediately after they filled out a form for more information. The solution is: Give your prospects a chance to say that they wish to be left alone for the moment. It will save you many-a-hangup.
Tailor your follow up to your premise
If your strategy is to offer a free whitepaper in exchange for an email address, so you can then utilize an email campaign to convert them, you must realize that results might take a while to surface. So take a consistent but long term approach and make sure you see it through the whole way. If instead you are looking to generate prospects of a property that’s a good value and available for a short time (i.e. foreclosure), you must establish contact right away so you will need a phone number. Likewise, if your prospect clearly indicates they’re not ready to move for another 3-6 months, realize that you will not convince them to rearrange their life to fit your pipeline needs. Adapt your approach to the premise.
Sharp Call for Action
The flavor of your marketing message does not matter as much as the substance of it. If your call to action is anything other than the prospect asking to be contacted and provided more information, the results won’t be as stellar. That’s the reason why a someone registering in your IDX (so they can move forward) are less likely to convert (at first) than the prospect that requests information for a specific property they found using your IDX. How you structure your call to action has a lot to do with the prospect’s willingness to provide the information you need to contact them.
Thoughts?
