Why you need lead generation and how to build and work an effective system.
How do you find new clients to work with in your real estate agency? If you’re attempting to find leads strictly through referrals or networking, you’re missing out on a large pool of those who are interested in working with you. That’s where a lead generation system comes in. Here’s why they are important, why you need one that is diversified, and the elements of an effective system.
What is Lead Generation?
Lead generation is the process of capturing interest in your services for the purpose of developing a sales pipeline you can nurture and market to. Good lead generation systems utilize a CRM, or customer relationship management tool, that helps you keep track of leads and notifies you when a lead is likely to make a decision so you can follow up with them personally.
Lead generation can come in many forms, including social media, video marketing, content marketing through blogs or newsletters, traditional advertising via print, radio, television, local SEO, and joining and being active in networking groups. A lead generation system, however, is a campaign (or multiple campaigns) that targets a certain audience, determines an offer that will attract that audience, and integrates with some form of technology to track the success of the campaign by determining how many leads it produces.
Why is Lead Generation Important for Realtors?
Real estate is all about relationships. To nurture relationships that lead to sales and referrals, you need to have a system that continually exposes you to new people and helps you engage them in multiple ways to build a relationship. There is only so much networking you can do on your own. A strong lead generation system will reach those you cannot meet in person as well as categorize those you’ve already started the relationship-building process with so you can continue to give them valuable information and strengthen their trust in you.
Mistakes Realtors Make with Lead Generation
Many agents attempt to put lead generation systems in place only to find they don’t return strong leads. Here are some of the most common mistakes when creating and maintaining a lead gen system:
- Trying to do it by themselves. Unless you have an in-house marketing team knowledgeable in lead gen, you are always better off hiring a professional to help you with your system.
- Not being consistent. If you put a system in place and don’t consistently work it, the leads will dry up.
- Relying on only one source of leads. More information on why that’s a mistake in the next section!
Why Do You Need a Diversified Lead Generation System?
Many real estate agents make the mistake of thinking that a single lead generation source is enough to accomplish their goals. They may buy a lead gen system from a seller who promises big ROIs only to find that the platform changes or dissolves without ever fulfilling their goals. This puts them back to square one, scrambling to find another source of leads.
When you instead go with a diversified lead generation system, you enjoy a consistent lead flow no matter what algorithm or platform changes there are. You make decisions from a place of abundance and a business owner mindset instead of as a salesperson who lacks leads. You are also not dependent on one source to provide all your business. If part of your system needs some tweaks, you can rely on other parts of it to pick up the slack so you won’t see a huge drop-off in leads.
How to Build a Diversified Lead Generation System
To best hedge your risks and ensure you have a steady flow, you need to make sure you are generating leads from multiple sources at once. Many agents rely just on referrals or just on one form of advertising or just on one lead gen platform. Instead, you need to create an advertising ecosystem that generates awareness, builds your credibility with those who are in-market, and converts ready-to-go buyers and sellers through various traffic channels.
Some of the elements we at Luxury Presence use to create diversified lead generation systems include:
- Facebook and Instagram ads. These ads can be extremely targeted to reach your ideal client based on demographics such as income level, geographic location, and interests.
- Google Adwords. Ensure your agency comes up first when potential clients search for terms like “new homes in Portland” or “luxury real estate Chicago.” We help you develop a budget to get you to the top of searches in your area.
- Geo-targeting ads. We use location data to reach clients and deliver a message that is appropriate for their behavior and locale.
- Landing pages. Direct those interested in your properties or services to a specific page on your website where you can give them more information and capture their contact information.
- Retargeting ads. Once a lead has visited your landing page, an ad for your services will appear on other sites they visit, reminding them of their interest and encouraging them to reach out to you.
- Lead nurture funnels. Take the guesswork out of sales by learning when to take the next step with a lead and when they are ready to be contacted in person.
- Monthly reports. You’ll always know how your ads are performing with our analytic tools. These also help our team tweak and repeat your ads to get the best ROI possible.
- A dedicated success team. You shouldn’t have to create and maintain a lead generation system on your own. Our dedicated success team has the knowledge and expertise to create the perfect system for you so you can continue doing what you do best: building your business.
Ready to take your business to the next level by implementing a diversified lead generation system? Reach out to the expert team at Luxury Presence for assistance. We create effective systems for agents all over the country, and we’d love to do the same for you.