Lost Sales Leads: Common Problems and How to Correct Them

Guest Post by Agent Advice

 
In the digital age of real estate sales, the process of successfully converting prospects to leads and closed business has become a fine art. No matter how refined a process becomes, losing a lead is inevitable.
 
This article aims to discuss some common problems that may lead to sales loss and how you can correct them. We’ll be doing a deep-dive into the world of real estate lead generation best practices and how to help ensure a lead is not lost after you generate it. Although we’ll dive in specifically to boosting conversion within the real estate industry here, the concepts explored in this article can be used for sales leads in any industry.
 

Lack of Presence on Social Media

 
Think about your favorite brands. Regardless of industry, you’ll notice that some of the best brands have clear, concise, and dedicated social media strategies. According to Hootsuite, there are approximately 3.2 billion (42%) social media users across the globe; Clients today expect a sophisticated social media presence. If your online presence is unprofessional or weak, it certainly won’t build credibility with buyers, and you may even lose the lead before you have a chance to introduce yourself.
 
Having a social media presence is excellent, but unless you’re able to come up with a precise and measurable plan of action, there’s a strong likelihood of getting lost in the noise. We suggest real estate agents follow these five best practices to grow your social media presence and keep your business organized:

1. Identify the social channels you want a presence on (master a few as opposed to delving into many)
2. Develop a social media calendar to organize your social strategy
3. Follow the 4:1:1 rule, depending on the platform
4. Add your social media channels to all marketing material (online and offline)
5. Encourage your clients to interact with you on social to build a powerful, core audience
6. Respond to all sales inquiries through social promptly

Calls-to-Action That Lead to Nothing

 
We’re seeing a lot of real estate agents take their business online with stunning websites. However, even the most beautiful websites can have a low conversion rate if the calls to action (CTA) are not working as they’re supposed to.
 
Whether you’re an accomplished Realtor or someone new to the field, it’s essential to capture all potential prospects into sales leads. Here are some common CTAs that we see advertised through real estate marketing websites and collateral:
 
•Contact Us
•Call Button
•Free Home Evaluation
•Free List of Homes Under $$$,$$$

 
One of the toughest aspects of real estate marketing is getting a customer to become aware of your brand and to visit your website. That’s why it’s important to optimize to ensure that you are converting as many visitors into sales leads as possible. One way to turn a potential sale off is to have CTAs that don’t lead anywhere.
 
For example, your “Contact Us” button leads to a 401 error, your “Free List of Homes Under $$$,$$$” offering yields nothing. Empty offers and CTAs such as these are sure to sour any prospect, so ensure that you have your bases covered by testing your website often to ensure it’s functioning as needed.
 
Go through your online presence (website, emails, etc.) with a fine-toothed comb and intentionally look for problems – you may save yourself a lead!
 

Not Implementing Face-to-Face Interactions

 
Although we’re living in an age consumed by digital media, face-to-face interactions are still crucial to closing a sales lead. There’s nothing better when it comes to rapport building than face-to-face interaction. It provides an added sense of personalization and allows agents to understand their clients and their needs on a personal level.

According to the Harvard Business Review, face-to-face requests are 34 times more successful than ones sent via email.

 

Ignoring Customer Expectations

 
There’s an old saying that is as true as any in the world of real estate sales, “Underpromise and overdeliver.” Signing a client on to work with you is just the beginning of what one hopes is a long-term business relationship.
 
You’ve proven to them that you’re capable of delivering results, now it’s time to achieve them. But what happens when you have promised them the world and set them up with unrealistic expectations? In most cases, it will yield negative sentiment on the client’s behalf, and they’ll share that negative experience with their inner circle as well, you don’t want that.
 
The best way to avoid this experience is to sit down with your client and have an open discussion with them in regards to their expectations. Not only does communication help create a more productive workplace, but it also helps build more sustainable client-realtor relationships. If you feel as though they’re unreasonable, be open, and communicate that before proceeding. It’s important to get the lay of the land when working with a client to ensure that they’re satisfied with your service and retain you as their agent for life.
 

Not Networking

 
Networking is a critical part of real estate sales leads generation strategy. You can be the most efficient, results-oriented agent in the nation, but if you’re not putting yourself out there and speaking with other agents and clients, you’re doing yourself a disservice.
 
Sales leads can be generated anywhere, and at any time, so it’s necessary to keep the following points in mind:
 

• Always have a business card on you, you never know when a lead will present itself.
• Build a network of tradespeople who you refer contracting leads to, and in return, they will refer real estate leads back to you.
• Do not make all conversations about you and your business, read the room and if the conversation doesn’t warrant bringing up your job, don’t. Building relationships is more important than dominating the conversation.
• Give your clients a Holiday gift. It’s an opportunity to get in front of them at the end of the year and get an update on their needs without being too sale-oriented.

 

Not Updating Your CRM

 
CRMs have been a game-changer for the real estate industry. By utilizing a CRM, you’re able to effectively manage the entire client journey from prospecting to post-sales all in one centralized dashboard.
 
Now, more than ever, businesses need a solid CRM to run successfully (especially in real estate). It gives you a look at what lead generating tools are most useful, what are the biggest reasons that you’re losing sales leads, and best of all, it houses all prospect and client information in one area to keep you organized and focused on what you do best, closing deals. If you haven’t done so already, check out this list of the best real estate CRMs.
 


Discover What’s Possible with BoomTown!
Request a Demo


The post Lost Sales Leads: Common Problems and How to Correct Them appeared first on BoomTown!.

2 Ways to Create Compelling Video Ads in Minutes

Get a video ad up and running in minutes? Yes please.
 
Here are two ways to use BoomTown’s Marketing Central paired with expert content from Keeping Current Matters.
 
Not already a BoomTown user? Here are a few options:
• Request a Demo of BoomTown to Get Started
• See BoomTown in Action via the Product Tour
• Explore Keeping Current Matters
 

1. Create an Ad Using Keeping Current Matters 30-Second Videos

 
1. Go to Marketing Central and select the Custom Video Ad program.
 
2. Click the “Select from Gallery” button to access a Keeping Current Matters video that is pre-populated in your account.
 
3. Enter your ad copy. Because the video addresses national stats, we recommend localizing the message to your audience. Try asking your audience a question, “Do you have questions about home prices in (Your Area Here)? We are here to help!”
 
4. Finally, choose your audience, add your budget, and activate your ad!
 

2. Create Your Own Video Ad Using Keeping Current Matters Data

 
Get your phone or camera out, it is time to make a selfie video! But first, if you have not seen the webinar that we broadcasted on June 2nd, go check it out here. (This webinar covers in depth how to leverage Keeping Current Matters and Marketing Central to create flawless ads on Facebook.)
 
Record yourself educating your audience about the key take-a-ways that KCM covered one of the slides. Finish the video with a few sentences that address your local market.
 
Remember, videos under 30 seconds perform the best so keep it short and to the point. Here are a few talking points that you may consider:

  • 1. The difference of home price appreciation leading up to the last recession, and the same data for current
  • 2. How the amount of supply on the market is different between now and the last recession
  • 3. The difference in the total amount of home equity that owners cashed out before the last recession and this one
  • 4. Home price changes during the last 5 recessions
  • 5. Benefits of homeownership
    • (a) 93% say owning a home made them happier
    • (b) 88% agreed that buying a home is the, “best decision they have ever made”
    • (c) 79% believed owning a home has changed them for the better

    When you are done with the video simply upload it to the same gallery that the KCM video is in and activate your ad. Using this strategy will position yourself as your local real estate expert!


    Tips for Creating Better Real Estate Videos


    The post 2 Ways to Create Compelling Video Ads in Minutes appeared first on BoomTown!.

    Facebook Advertising Trends & Tips for Real Estate Agents (During COVID-19)

    If you’re wondering how you can best leverage this time and keep momentum during the ebbs and flows of COVID-19, you’re not alone. Agents and brokers everywhere are taking a step back to look at their digital advertising and marketing plans, seeing where they should (and shouldn’t) cut costs, and looking to the experts for guidance.
     
    The good news is that even with limited physical interaction, prospecting for new leads online and nurturing your database is still a productive and profitable way to move your real estate business forward. Digital advertising has proven to be a smart investment for agents during COVID-19. In this post we’ll share some data outlining the impact of COVID-19 on Facebook Advertising, as well as how BoomTown users are leveraging Marketing Central to launch best practice advertising programs on Facebook.
     
    First, let’s take a peek at Marketing Central and see how it has helped Boomtown Users grow their businesses.
     

    Marketing Central

     

     

    As of June 19, 2020, Marketing Central has produced the following results:

  • Over 2,875 Facebook campaigns have been activated
  • 19,500,000 ad impressions have been served
  • 39,700 leads generated from listing ads
  • 46,650 lead re-engaged
  • Marketing Central utilizes Facebook’s machine learning platform to continually optimize campaigns to produce better outcomes for you. As Marketing Central’s adoption continues to increase, so to will the outcomes.
     
    We’ll share a few of the leading campaigns that ran in May and outline drivers of their success, but first, let’s take a look at our COVID-19 analysis and how it has impacted advertising on Facebook.

     

    COVID-19 Impact on Facebook Advertising

     
    Since March, we have been keeping a close eye on the advertising landscape on Facebook and completed several month-over-month analyses that show COVID-19’s impact on Real Estate Ads. This chart shows the month over month change in each performance metric.
     

     

    February to March: 25% decline in CTR (an engagement metric), a cost per lead (CPL) increase of 15%, and a click to conversion rate (CVR) decrease of 18%. This shows a drop in buyer engagement and intent. AKA, less search traffic, less browsing.
     
    March to April: Buyer intent came back in a strong way. This is showcased by a substantial 47% increase in conversions and a CPL reduction of 25%. However, CTR continued to fall by 9%. Simply put, fewer people clicked on ads, but the people who did had more intent to convert. (They were more motivated, hotter leads.)
     
    April to May: CTR started to bounce back with a 15% increase. This boost in ad engagement made conversion rates skyrocket another 24%. As advertiser demand from other industries starts to return to Facebook, the time agents and brokers have to capitalize on this opportunity is shortening.
     

    In May of this year, media costs on Facebook were 50% lower than they were in 2019.

     

    Now let’s take a look at some of the top-performing ad campaigns that ran through Marketing Central in May.
     

    3 Top-Performing Ad Campaigns in May

     

    1. A Single Image Listing Ad Generated 22 Leads for Less Than $20

     

     
    BoomTown User Michele Claytor, with WelcomeHomeGreenville.com, spent $19.98 in May, promoting a new listing and created 22 leads for an astonishingly low $0.91 cost per lead.
     
    She used “just listed” in the ad copy along with a front view of the home and property in a single image ad. The 12.89% CVR (conversion rate) and the 13.49% CTR (click-through-rate) are evidence of May’s unique advertising environment on Facebook.
     

    The Results:

  • 22 leads from 1 ad
  • 1,268 Impressions
  • $0.91 Cost-Per-Lead
  • 12.86% Conversion Rate
  • $0.12 Cost-Per-Click
  • 13.49% Click-Through-Rate
  •  

    2. A Multiple Listing Ad Generated a 27.76% Click-Through-Rate

     

     

    BoomTown user Sonny Downey, with EXIT Real Estate Gallery, used Marketing Central’s “Re-Engage Your Leads” program to achieve an extremely high 27.76% CTR!
     
    This program automatically matches the home attributes that your lead was searching for on your site to pre-populate MLS listings in a carousel ad unit. This advanced targeting tool matched with Sunny’s engaging ad copy created Marketing Central’s most engaging ad in May!
     

    The Results:

  • 92 leads re-engaged
  • 7 new leads
  • $1.61 Cost-Per-Lead
  • $0.13 Cost-Per-Click
  • 27.76% Click-Through-Rate

  • See Marketing Central in Action!


    3. This BoomTown User Launched 20 Separate Facebook Programs in May

     

     
    Brandon Brittingham of Maryland and Delaware Group of Long and Foster took advantage of May’s low media rates on Facebook to launch programs that filled the top of his prospecting funnel! His mix of different programs included 15 single image/single listing programs, 3 re-engage registered leads programs, and 2 engage non-registered users’ programs.

     
    By activating these separate initiatives, he achieved the following:
     

    (1) Stayed top of mind with registered leads who are familiar with his brand
    (2) Created awareness for the people who visited his website but have not yet converted
    (3) Served single listing ads to audiences of buyers to attract new visitors to his website

    The Results:

  • 121 new leads, 197 re-engaged leads
  • 51,676 impressions
  • $7.60 Cost-Per-Lead
  • 4.79% Click-Through-Rate
  • Invest in Your Digital Presence

     
    Here’s the thing, digital presence has been critical for success in real estate for some years now. Because of COVID-19, we have to put even more of our efforts into digital presence and pivot in order to serve our clients virtually. The good news? Investing in your digital presence will serve you long after this time period, so your efforts will only improve the foundation of your business.
     
    We encourage agents to “diversify their lead flow.” That means, don’t put all of your eggs in one basket when it comes to generating new business. Put a portion of your effort into your sphere, referrals, open houses, online leads, etc., that way if one of the lead sources runs dry, your business isn’t disrupted. Right now, some of those other channels may be slow or even at a standstill. Meaning, it’s the perfect time to bulk up your flow of online leads to supplement the rest.


    Discover What’s Possible with BoomTown!
    Request a Demo


    The post Facebook Advertising Trends & Tips for Real Estate Agents (During COVID-19) appeared first on BoomTown!.

    How to Make Up for Lost Time & Crush Your Goals [with Tom Ferry]

    Expert tips from Tom Ferry! In this jam-packed webinar you’ll get your mind in the right place and your to-do list on track. Tom knows exactly what it takes to keep a business moving forward. Whether it’s a market shift, a pandemic, or just a lull in your own business, these tips will help you surpass the roadblocks and crush your goals.

    The How-Tos We’ll Cover:

    How to use data to get out of your head and back into massive action
    How to make up for lost time from COVID-19
    How to focus on the most dollar productive activities

    The post How to Make Up for Lost Time & Crush Your Goals [with Tom Ferry] appeared first on BoomTown!.

    How to Make Up for Lost Time & Crush Your Goals [with Tom Ferry]

    Expert tips from Tom Ferry! In this jam-packed webinar you’ll get your mind in the right place and your to-do list on track. Tom knows exactly what it takes to keep a business moving forward. Whether it’s a market shift, a pandemic, or just a lull in your own business, these tips will help you surpass the roadblocks and crush your goals.

    The How-Tos We’ll Cover:

    How to use data to get out of your head and back into massive action
    How to make up for lost time from COVID-19
    How to focus on the most dollar productive activities

    The post How to Make Up for Lost Time & Crush Your Goals [with Tom Ferry] appeared first on BoomTown!.