Using Your IDX To Close Business
Why nurture leads? Marketing to acquired leads is smart!
Forrester Consulting found the following consistencies in companies that nurture leads:
- They generate 50% more leads at a lower cost per lead
- They reduce the percentage of ignored leads
- They raise close rates on leads by 7%
- They increase agent take home pay – and with a shorter ramp for new agents
How to nurture your leads
Let’s start by looking at a typical lead funnel. The top of funnel activity includes activity such as paid search campaigns (i.e. AdWords, Bing), publisher ads, reciprocal links, SEO/organic traffic, and manually entered leads acquired from events such as open houses.
The nurture stage is where your activity makes all the difference. The following key features in your IDX account help with the nurture stage:
- Property Organizer – Once signed up, leads can save their favorite listings and searches on your site.
- Email Alerts – Automated emails with your branding send the latest new or changed listings to your leads.
- Site activity reports – View summary reports of lead activity on your site.
- Lead activity reports – View searches conducted and properties viewed by your each of your leads.
Response Time Is Important
Inaction and Its Consequences
Here are some of the consequences of not taking the appropriate action when prospects register on your site:
You didn’t follow up when the lead registered on your site.
|You’ll lose the lead! Reports suggest that 50% of online leads never receive a response.|
You weren’t the first agent to follow up.
|You’ll likely lose the lead. Nearly 80% of the business goes to the first agent who responds.|
You forgot to place a follow up call.
|You may lose the lead. It takes 6-8 calls/personalized emails before buyers/sellers are ready for a transaction.|
You didn’t send drip email updates.
|You may lose the lead. Some 30% of “non-yes” calls will agree to drip emails. Of these, 1/6th will turn into clients.|
It takes multiple interactions with leads to convert them into buyer or seller clients. Your IDX system not only helps you acquire leads, but can also help you nurture those leads and grow your business!
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