With so many ways to reach potential customers today, it can be tempting to give something a quick try, then toss it to the side if it doesn’t generate immediate results. After all, if you’re not grabbing that customer, somebody else will, right? The truth is, it’s probably best to use a combination of a few tried and true methods to build and maintain a solid customer base. Regardless of which strategies you choose, there are some underlying principles that can aid in making your outreach efforts effective. Read on to learn more about how to generate leads in real estate that convert.
What are the Best Ways to Generate Leads in Real Estate?
It’s hard to pinpoint the absolute best methods for everyone, as it will vary somewhat depending on demographics, including age, income, type of real estate desired, etc. Add to that the fact that there are so many opportunities for promotion these days, from social media to community sponsorship to email marketing and even direct mail marketing. What it really boils down to is two things: obtaining a targeted list and developing an effective marketing strategy. If this sounds overwhelming, it really doesn’t have to be. Following a few simple steps can go a long way toward making sure your marketing dollars are well spent.
Obtaining a Targeted List
The first thing that might come to mind when thinking about how to generate leads in real estate, is how and where to purchase a quality list to start with. In reality, though, you have some homework to do long before your list is purchased. In order to make sure you have a quality list to begin with, you first need to make a list of your requirements to make sure you have a targeted demographic that is more likely to respond to your outreach efforts. For instance, you can target by age, economic status, neighborhood, vacation homeowners, landlords, and specific occupations, among countless others. It’s important to spend some serious time considering your specific needs before purchasing your list.
Once you have your requirements nailed down, it’s important to work with a company that can provide you lists for a variety of sources including direct mail, email, and even social media. Spend some time talking with your representative from the company instead of just purchasing your list on your own. They may have some valuable input on your target demographic, perhaps pointing out something you might have missed and helping you to hone that list even further.
Develop an Effective Marketing Strategy
You can have thousands of people on your list that meet all of your target requirements but still not have much success if you don’t put effort into strategy as well. It’s important to keep in mind, when considering how to generate leads in real estate, that even the best of lists frequently generate just a one percent response rate and many customers require at least four touchpoints (some experts say at least eight) before they trust your ad enough to finally contact you. These statistics might sound disheartening, but fortunately there are some things you can do to try to increase the odds in your favor.
Pay Close Attention to Your Response Rate:
If you have a list that is generating at least a one percent rate of return, then it might be possible to continue using that list, sending out copy every month or so, maybe even twice a month if the response rate is good. Once that list dips below .75 percent and stays there, it might be time to consider purchasing a new list and setting that first one aside for a while.
Know Your Target Market’s Pain Points:
When attempting to generate leads in real estate that convert, you can’t just throw out a postcard, email, or social media message saying, “Choose me!” and hope for the best. People are bombarded with messages like that all day long. Instead, it’s necessary to determine their “pain points” and show them why you are the one to solve their problems. For instance, if you are targeting senior citizens, then maybe you mention communities that welcome grandchildren and pets. If you are targeting landlords, maybe your content mentions how to attract trustworthy tenants. Make your copy stand out as something helpful to the consumer and they are more likely to pay attention to your ad.
Test, Retest, then Test Again:
When marketing, it’s important to always be trying new things. Test your market to see what they seem to respond to the most. Maybe it’s postcards versus envelopes or video versus written posts on social media. Try different subject lines in your emails or different fonts and colors in your written messages. You’ll be surprised at how one small change can make a huge difference in your response rate, and you’ll never know unless you try.
Don’t Forget to Close:
The best marketing campaign in the world does no good if you don’t tell your customer what you want them to do with the glorious information you just provided them. Do you want them to call you? Complete a particular form on your website? Sign a document and mail it back in? Come to an open house next Sunday? Unless you tell them what you want them to do, your potential customer might just set your content aside, thinking it was interesting, but not really knowing what to do with it. Make sure your hard efforts pay off. Devise an effective message, then tell them what you need them to do.
Purchase Your List from a Reputable Company
Once you have done your homework and have a target consumer in mind for your campaign, it’s time to purchase a mailing list from a reputable provider. Datamasters understands how to generate leads in real estate and can help formulate an effective list for your needs. If you are ready to build a strong customer database, please contact Datamasters at (469) 549-1800 today.