Every business has to deal with the problem of finding leads. Most small businesses rely on their sales force to do their own lead generation. In the real estate business, getting leads is often left up to the real estate agent through primarily their sphere of influence, networking, cold calls, and referrals. Each agent would spend 80% of their time on these activities early in their careers. While this appears to be a cost effective way to get business, it limits the amount of sales a salesperson can produce due to the amount of time they spend finding leads. Salespeople can be worth a lot of money to a company if they are making sales, so when they are spending their time generating leads the opportunity cost is very high. Therefore, the cost per lead generated is far higher than necessary.
A Killer Lead Generation System
How To Create A Lead Generation System That Keeps Your Sales Force Busy Selling
Increased advertising response rate from less than 1% to 5% by implementing an advertising campaign strategy that captured leads through a website
To address this problem, I implemented a lead generation system using online Pay Per Click (PPC) advertising in various real estate websites and search engines where I could target potential buyers searching the Internet for a home. I did this because research shows that over 90% of buyers look on the Internet to start their search for a home. Placing a PPC ad is only the first step, however. I also needed to create a website that would motivate these potential buyers to leave their name, phone, and email, so I could contact them. I created a landing page with real estate information on a real estate information website for this purpose. A number of campaigns were tested and I found that ads for a free list of foreclosure properties generated the most click-through traffic. So the landing page was created to reflect the promise in the ad and require the prospect enter their name, phone, and email address to receive the free list. The list would be generated from the Multiple Listing System (MLS) on demand and sent by email to the prospect as soon as possible, preferably within minutes of the notice of the lead by email or text. Now a phone call could be made to the prospect to set an appointment. This method not only decreased the cost of the leads significantly but also increased the response rate of ads placed by over 500% from previous methods.