There are an endless amount of effective lead generation strategies you can implement to grow your business. From traditional ideas to more modern approaches, the most successful agents in the industry utilize as many strategies as possible. Yet, many agents still don’t utilize online lead generation strategies at the highest level because they have doubts about the potential results.
Let’s debunk some common lead generation myths so you can break through barriers and learn how to effectively generate AND convert online leads.
Myth 1: Online lead generation doesn’t work
If you’ve ever caught yourself thinking this, you aren’t alone. To be honest, there is a bit of truth to this myth. Online lead generation doesn’t work…unless you do!
Online lead generation is a high volume, low conversion game. Only 2% of the leads you receive are ready to buy or sell a home in the next 1-2 months. Statistically, the other 98% can take up to two years to be ready to buy/sell. This doesn’t mean that online lead generation doesn’t work. It simply means that you need to nurture each lead so that when they are ready, you are top of mind.
Myth 2: Online lead generation is time-consuming
Online lead generation does take time, but it doesn’t just need to take YOUR time! The solution is to automate anything and everything you can. When you think about the lifecycle of your sales business (prospecting → generating leads → converting leads → servicing clients → marketing), there are an infinite number of systems you can automate. Partner with companies that can help get you the results you are looking for while allowing you to have extra time to be face-to-face with your clients or to enjoy your free time.
Myth 3: Online lead generation is too expensive
Online lead generation can cost money, but that doesn’t mean it’s expensive. It really comes down to perspective. When managing your business, you know that one of the keys to profitability is keeping expenses low. But instead of perceiving online lead generation as an expense, what if it was viewed as an investment? If you spend money on online lead generation and don’t have a quality lead nurture system in place that propels you to convert the lead, then that is expensive (money wasted)! Instead, if you invest in online lead generation and nurture each lead through your pipeline (add them to drip campaigns, phone calls, send mailers, etc.), it will be money well spent. The word investment also implies that there will be a return!
Let’s do some math!
Let’s say you generate 100 leads and 2% of those leads are ready to buy or sell in the next two months. Let’s also assume your average commission on each of those deals is 3% and each deal involves selling a home valued at $400,000. Your gross commission earned from these two deals would be $26,667.
Whether your initial investment was $100 or whether it was $1000, that’s quite the ROI!
On top of this, the remaining 98 leads generated still represent opportunity. If you nurture each lead and stay in flow with them, over time, you will convert more of these leads and put more money in your pocket.
Interested in learning more? Dig in deeper with this FREE DOWNLOAD
Your free “Lead Generation Secret Sauce” guide addresses lead generation myths and teaches you strategies for successful lead generation, nurturing, and conversion.
Looking for assistance with YOUR lead generation?
Elm Street’s Elevate Platform offers brokers, agents and teams the ability to capture, nurture and convert buyer and seller leads based on your desired goals and budget. Connect with an Elm Street / Elevate Success Coach today to learn more.
About Elm Street
Elm Street offers a growing portfolio of real estate technology and marketing services with the goal of providing one vendor and one point of contact, fully fused into one singular platform – Elevate – to capture and nurture more leads into closed business. Elm Street’s portfolio of products and services allows busy real estate professionals the ability to streamline and automate their marketing and day-to-day business objectives by offering high-end IDX websites, lead generation tools, a powerful CRM, email, social, text and blog marketing automation, recruiting and retention tools, and more. To learn more, please visit ElmStreet.com.