Are you looking for a way to double your business in 12 months? Last week, we highlighted the first five tips for better lead generation that Bob Corcoran offered during the Secrets of Top Selling Webinar, "10 Best Practices for Converting Online Leads."

The first round of tips stated that if you want to make the most out of every lead, you must always follow up immediately, make your emails count, take advantage of video, stay in constant contact and stay balanced. This time around, we want to share the last five tips offered by Corcoran that will surely help grow your business!

1. Plan Your Calls

Although you can dedicate time to prospecting, it will only be effective if it's at the right time. After conducting research that tracked more than 460,000 voice response calls, Corcoran discovered that the best time for lead generation was noon to 5 p.m. His study also found that the most leads generated were occurring on Sundays, when the majority of people are off work and are using their spare time to search for a home.

This means that you should be setting your schedule around these heavy traffic times, and if you don't want to cut into your weekend, assign the task to another member of your team. Otherwise, you could be missing out on valuable opportunities to grow your business.

2. Target Your Prospects

Corcoran states, "What is amazing is the amount of referrals you can generate, but I think agents do a poor job communicating with referrals." He believes that it's okay not to call every lead, but to prioritize those that you do. Calling the highest priced leads first should be your top priority, because they actually have a home to sell. The next group to cross of your list should be those clients that have been referred to you by their family and friends, as they have already heard a lot of good things about you and are more likely to work with you.

You should also prioritize your leads by the time period in which they plan on buying or selling. Instead of dedicating valuable time to those who are considering a move, focus your attention on those who want to move in under 30 days due to relocation, a new job or that want to leave a rental. It's important to sort your leads in order of importance because it better allows you to manage your time and resources.

3. Know Your Numbers

Success is all about goal setting and calculating what it takes to achieve your goals, stretch goals and dream goals, says Corcoran. More than 80 percent of people who call won't be working with an agent, so it's important to be numbers minded. Setting realistic goals and tracking results will help ensure that you achieve those goals, but don't be afraid to think bigger. Setting dream goals may take longer to achieve, but they will make you work harder to achieve those goals.

4. Know the Market

Know who you are working with because every generation prefers a different form of communication. Traditionalists (60+) like to meet face-to-face, Boomers like to get calls on their mobile phone, and Generation X and Millennials like to connect through email, Facebook or Twitter.

Corcoran also mentions that you should be mindful of how you speak to these potential buyers. For instance, never ask "Are you working with an agent?" Instead ask, "How long have you been looking for a home?" Asking if they are working with an agent will steer their attention away from the fact that you're there to help and that you are the one they should be working with.

Lastly, never ask someone when they want to get together. More times than none, they will always answer "after work," and this will create a very hectic schedule for you. Instead, ask what works better for them – mornings or afternoons. By doing this, you're only giving them two options and it will keep you from having multiple clients to meet with on the same day around the same time.

5. Track Your Data

Track your data to show what strategies are working the best for generating and managing your leads. Otherwise, you'll be wasting valuable time and resources by using systems that do not produce the results you're looking for. Once you've found a system that works, the money will be there for you to grab. Leads are the bread and butter of any successful real estate career, so making the most out of every one that is sent your way will keep you ahead of your local competition!

To view the original article, visit the Homes.com blog.