Marketing

Online versus offline leads: 3 steps to generate more offers

Understand, tailor and convert your leads

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Lead generation technology has become very effective in generating huge volumes of leads for agents. The only limiting factor for agents is cost, and deciding how much time and money to invest ultimately determines how successful an agent will be with lead generation, and, therefore, offer generation. It is even more important that agents build a foundation to nurture effectively those leads or else the investment can be rendered useless.

As an agent, it is important to decide what types of leads you want to generate. Online lead generation is all about volume and conversion rates. Whereas word of mouth leads are all about quality and relationships. It is important for agents to understand which game they are playing to tailor the subsequent consumer experience., Fully committing the same strategy to both lead types often results in squandered opportunity, time and money.

Understanding the source of the lead enables agents to build the necessary framework to convert the lead. It all starts with making sure the first interaction with your business conveys the right messaging. Refining that message takes time, but eventually through extensive testing you will be able to convert a greater percentage of a follow-on conversation.

To start generating more offers, here are three steps to building a more effective framework around your lead capture efforts.

1. Understand the source of your leads.

All leads are not created equal, and understanding the context behind each lead is vital. An online lead is often very different than a referral lead, and, therefore, each lead must be nurtured in a way tailored to maximize conversion — in this case lead to more offers.

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For example, online leads have a few special characteristics. 1) They are most likely inquiring about a property, not about you, therefore, 2) they probably have no idea who you are, and 3) they might not be ready to buy a house. This is almost the exact opposite of a hot referral lead.

2. Tailor your messaging.

Your marketing message is interpreted differently by various groups of people. Analyzing the source of your leads across your business enables you to tailor the most effective message for each group.

For example, instead of sending an online lead from a portal directly to your website, design a simple landing page specifically tailored to maximize conversion for portal traffic. Keep an online lead’s characteristics from section 1. You want to acknowledge their high-level interest in a buying a house, and also take the opportunity to introduce yourself as a local expert.

3. Focus on trust.

After your tailored message, getting to a point of mutual trust with your prospect is the most important step in capturing the lead. The key is that the trust is mutual. The prospect must trust you, but you also have to trust the prospect — trust that they are serious about purchasing a house.

For an offline referral lead, half the work is done for you by the referrer, so focus on promoting your skills and connections to seal the deal. For an online lead, it’s important to convey your value proposition like the offline lead, but it’s more important for you to trust the prospect. Make sure you ask your online lead the right probing questions, so you can trust this is worth your investment in time and money.

With these three steps in mind, you can effectively capture your online and offline leads, and you’re well on your way to generating more offers.

Will Caldwell, a San Diego resident, is the CEO and co-founder at Dizzle, a mobile real estate tech company that helps Agents easily stay top of mind and large real estate organizations monetize their relationships.

Email Will Caldwell.