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Leveraging Insights to Drive Higher Lead Conversions

April 04 2019

No lead left behind! Stop missing out on opportunities to convert.

boomtown insights drive higher lead conversionsFirst things first--a real estate lead isn't complicated. It's simply the name and contact information for someone who is potentially a future client. A single email address can be a lead, a phone number, even someone who registers as Mickey Mouse (or something much more offensive).

Regardless of fake names, all leads that have a legitimate way to contact them are viable. Even the address-only ones. Even the bogus names. Even the ones that say "no." In order to convert these fledgling prospects, you've got to have the right process in place to successfully nurture them, and within that process, you've got to know the right information to convert them into clients.

Capture Contact Info and Track Interactions

This is where your website comes in. Hopefully, you already have a strong online real estate presence and CRM to help you manage the leads you generate. Top-of-the-funnel success means you're leveraging digital marketing to get highly targeted traffic to your website, and capturing leads.

Once a lead has been driven to your website (or landing page, valuation tool, etc.) You must have a way to capture them. This means utilizing a tool to prompt a visitor to provide you with their contact information in exchange for something of value.

This could be something like:

  • the ability to view more pictures of homes on your website
  • a home valuation report for potential seller leads
  • a market update newsletter to keep them "in-the-know"

The right website and CRM will capture this information and automatically build a lead profile. This profile will be updated with any notes you add, tracked behavior and interactions with your website, logged calls and attempts, etc. For example, BoomTown tracks every action a lead takes on your site. We also track each call, conversation, and interaction and add it to a lead's profile. This way you're empowered with insights you can act on.

Organize Your Database into Groups

Ninety-three percent of all buyers report responsiveness as a very important factor in selecting an agent. When you have useful insight into buyer and seller interests and behavior, you can send the most relevant information and targeted alerts quickly and easily.

Your lead management system should provide ample information about each registrant. What have they searched for in the past? Have they just favorited a property, performed a mortgage calculation, or shared a listing with a friend? These behaviors will provide the background intel that is critical for tailoring your follow up and drip campaigns.

When you have the right information on your prospects, and the right tools available, you can bucket similar groups of leads for efficient nurturing campaigns. These can be segments like similar price ranges for a group of homebuyers, seller leads, you name it.

Of course, not every lead will be ready to buy a house right now, so have a process in place for the leads that aren't ready. Use your CRM to set to-dos and reminders to follow up with leads on their timetable. Use categories for certain leads that may be on the fence or are waiting. Later on, you can take a look at the leads in that category and use tools like a phone dialer to renew your follow-up communication.

When you have the right information about your leads, and you are able to target specific groups with relevant communication, your prospects stay engaged and informed — ready to take action when their dream home comes on the market, or when it's time to list their home, and you stay top of mind.

Use Real-Time Lead Behavior to Drive Action

Your targeted marketing campaigns and nurture drips will certainly pay off, but you also want to watch the behavior of your leads and contact them as soon as the time is ripe. For example, the BoomTown system will show when a lead is back on your website, so you know now would be a perfect time to give them a call.

Predictive insights like these will keep you productive. Don't know the next step? Don't worry, we do. The system will tell you exactly where to focus, who's hot right now and when to reach out. Tag your prospects with custom categories, segment your database based on price point, category, you-name-it, and mass email or send individual texts right from the CRM. With the mobile app, you can receive alerts wherever you are and conduct business anywhere. All of these tools make it easy to target your prospects in smart ways- and get better results.

Have More Conversations

The goal of marketing is to build enough trust to start conversations. If you are not thinking about how to structure and leverage your database for multi-channel marketing, and use the information at your fingertips, it will become steadily more difficult to compete in the future.

Using a smart system will help you take all the pieces of information and interactions into consideration, and builds a profile for each lead. By matching intents through the CRM, you become highly relevant to your audience, your prospects become confident in the insights you provide, and your conversions will skyrocket as leads grow to trust you enough to become clients.

To view the original article, visit the BoomTown blog.