Lead Conversion- What’s Your Strategy?

A lead is an agent’s way of life. A qualified lead is an agent’s means to success.

A lead  VS.  A qualified lead

Any lead at all is nothing more than a name and number; someone who may be interested in your product or service.

A qualified lead, is more than just contact information. Any good sales book will tell you to start with the BANT approach for qualifying.

b– Budget. Can they afford to purchase a home?

a– Authority. Can they make the final purchase decision?

n– Need. Do they have a need (or want) for a new home?

t– Timescale. Do they have a particular time frame in which they wish to purchase a new home?

Defining Your Strategy

Every lead you receive should be followed up with the same care and strategic process. First, you need to determine if they are part of your BANT group, but where do you start?

              Respond Quickly.
Showing you are here to help and, do in fact, want their business is the key to doubling your lead conversion rate. Many agents tend to think that responding quickly signifies to the potential client that they are too available, meaning they lack the experience and clientele to produce. HOWEVER, according to Trulia, “data shows that potential clients view an agent’s responsiveness as a proxy for quality”.

Start with an introduction. Depending on where you received the lead from will determine your form of contact. If it was a personal referral you may only have one means of contact, whether it is a number, e-mail address or home address. Introduce yourself and let them know where you received their information from.  Leave a message if they don’t answer.

[According to the New York Times, 65% of new business comes from referrals and 4% are more likely to buy when recommended by a friend.]

You’ll want to send follow up e-mails to maximize your response process. Send a recap of your conversation, proving your value, attach any information that may answer questions they had. This can help boost your response in two ways. Some people just respond better to e-mail. This also allows for an easy way to save your contact information. It’s much harder to lose an email than it is a post-it note with a phone number on it. It also shows that you do what you’ll say and that they can count on you to be their agent!

Do You Know TOM?

Top oMind Awareness:  Even if your qualified leads don’t turn into sales immediately, don’t forget about them. Perhaps they just haven’t found that home that really “WOW’s” them yet. Give it time. But don’t let them forget you’re still the right person for their needs! Staying top of mind can be easy, if you have the right systems in place.

Place your qualified leads on an e-mail drip campaign. Pick a schedule and stick to it. E-mail different recommended or active listings in key neighborhoods. Send them on going market reports of different areas they are interested in. When the time is right, you’ll be the agent on the top of their mind!

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