Do you remember the old School girl/boy game of "Around the World", or "Around the Bases"? If you got a kiss you got to First Base. A french Kiss was Second Base. Read further to find out how to hit a Home Run!
Are You Trying to Hit a Home Run With Your Prospects Without Asking Them on a Date?
Most prospects are only leaving their phone number about 1/3 of the time. So 2/3 are leaving just a name and email. If you don't have a strategy to approach this group, you are losing big time because your cost per lead skyrockets.
If you invest $9,000 a year into your online real estate marketing campaign. And you get 500 leads a month, your Cost per Lead is $1.50*. But if you aren't touching your email only leads, then you are affectively only getting 165. Your Cost Per Click jumps over three times to $4.55!
*$9000 a year/12=$750 a month. $750/500 leads=$1.50;$750/165=$4.55)
Email marketing is the most important part of online marketing. Yet, I find that it is the least understood, and least time spent by Online Realty professionals. Some agents will spend all day on their website. They will effort on SEO to capture a real estate lead. Yet, they never spend the time to strategize on how to court the opt in subscriber.
Marketing your real estate services thru email is about getting to the first date. Then the second, and then third. Until there is a marriage whereby you both swear allegiance to one another. And of course like many modern day relationships, this guy or gal will break this allegiance as soon as the scent of the next "hottie" walks past.
You may not even get to First Base let alone hit a home run. Andyour prospect may not even let you go on a second date. But one thing is for sure you will never get to a sale unless you start at the beginning. Then you can get to First Base....and second and so on. But most agents try to steal a kiss, without even asking the prospect out!
Instead of being "easy", think of your prospect as that guy or gal you have to beg and beg to go out out with you. And then after all that finessing she only agrees to go to breakfast! You have to strategize to win her over. You bring flowers. You do apparant random acts of kindness just to get to a second date and maybe first base. Before Free Love, this was called Courting.
Your prospect is not a product of the 60's. They believe that their loyalty comes with a cost. They want to be courted and you to prove yourself worthy. And making your listings available or offering a free report is a nice olive branch, but this frigid Diva expects some major courting. Do you really want this gal? Are you going to take care of her in good times and bad? Then you gotta pah-roove it.
The fact is that the vast amount of your prospects will not leave a phone number, and most won't take any serious action for several weeks. As I explained in one of my Ten Commandments of Online Marketing, people typically come to a real estate website to compare property. And they just do not know what they do not know.
At this point there is very little or no loyalty to you or your website. As long as the info flows, and they can get your MLS listings they will be happy enough to revisit your site, if for only the new home listings.
So in order to breed loyalty and afinity you must do a few specific actions.
Get yourself an Autoreponder/Drip Email system.
These automatic email systems communicate with your prospect while you sleep. You write your letters and articles once. And the system will send a mailer on pre-programmed days for ever. Until your prospect raises their hand and says I am interested to take this relationship to the next level.
Why would you segment your visitors? Because they think they are the most important person in the world. And if you want them to think you are the most important Realtor in the world, you have to make them important first.
This goes eons beyond dividing your prospects into buyers and sellers, and hot, medium and cold. Your email communications to a 30 year Vet at IBM should convey a unique tone and context diferent than your typical communication with say a self employed-entreupreneiral Contractor.
Educate & Interact
When you can get someone to have an "aha" experience, you often times will etch out a piece of their brain for you. Congratulations! You have now risen above just Real Estate agent. You are above the restbecause you have become not just someone who sells real estate. But someone who cares enough to take the time to care for this person who is the most important person in the world.
How? Teach them and get them to move along the sales funnel by bringing them to your site to learn and or get valuable and free reports.
I am not talking about the typical pre-written Real Estate articles and newsletters. You need to pour blood and write from your experience, from your heart. Would you send the object of your affection a templated love letter from a book? What would her reaction be? Thats the same reaction you will get from your prospect.
Your personality and expertise will shine thru and you will seperate yourself from all the others whom are too lazy to prove that they are an expert. Which is why when you do it, you will profit handsomely.
As you get your real estate prospect to interact with you and your site. You can ask them to reveal more and more until you have enough information to segment them, and take them to the next level of your relationship. And then perhaps they will want to do more than just "go out with you".
-------------------------
Tim O'Keefe is President of Spider Juice Technologies and is an expert at all phases of online marketing from Search Engine Optimization, Lead Capture and Converting Leads to Sales.
Tim O'Keefe
Spider Juice Technologies
Real Estate Marketing
310-533-9145
A recently completed report on home sellers and home buyers(Hebert Research for HouseValues Inc.), shows that home sellers take on average 9.3 months from the time they begin researching until they sell.
It takes home buyers 16.7 months, on average, to research and buy their next home.
The study aslo found that:
The survey also explored the reasons why consumers choose their real estate agent:
Consumers use agents for three main reasons: paperwork/legal work; negotiations; and access to listings.
Buyers and sellers tend to choose an agent based on experience, honesty and past relationships.
These numbers vary greatly from other studies say such as in California which found that :
"The Internet is enabling consumers to research and gather information well in advance of actually buying or selling," said Ian Morris, HouseValues CEO. "This research shows that real estate agents are critical to the transaction, but are chosen late in the decision-making process, and very quickly. The takeaway for real estate professionals is to be first, fast and frequent in their communication with consumers, and that often means delivering value and information many months in advance of an expected transaction."
Ian Morris says 74 percent of consumers now begin their home research online, yet only 10 percent of real estate marketing budgets have followed them there
Comments:
Being able to generate leads is not enough. Generating email campaigns that last overtime that shares your personality and stacks value on top of value will win over prospects and keep you top of mind when it comes time to choose. And according to the data they choose quick. Your job is to get out in front of the decision process early. You do this by capturing their name and courting and segmenting them until they are ready to move your relationship to the next level.
Borrell And Associates recently released their report on Online Real Estate Advertising.
The report details $11.4 billion in real estate advertising and focuses on this year's projected $1.8 billion in online media spending. It found out that the search engines are tapping local agents and real estate brokerage firms to the tune of more than $500 million and are rapidly growing share. Local agents and brokers now account for 23 percent of all Paid Search listings, bidding an average of more than $1 per click on local keywords.
Just got in from the Inman Conference which in my opinion is a must for todays online real estate agent.
The most important aspect was the networking. There were plenty of elbows to rub and lots of relationships to make.
If they gave at an award for conference networker, the statue would got to Michael Stark of PostYourProperty.com for sure. I bet that guy picked up a hundred link exchanges as well as future referrals. He is a testament at what you can do at a conference of this magnitude.
I guess I just added a one way link to his site:-)
Viral Marketing is commonly defined as :
Marketing phenomenon that facilitates and encourages people to pass along a marketing message.
Hotmail was probably one of the greatest examples of Viral Marketing. Mega Blogger Seth Godin wrote about it in his important Book, "Unleashing the Ideavirus"
I was prompted to write this piece because of a cute Viral Marketing campaign for the New Movie, "Wedding Crashers". It allows you to Crash the Video Trailer.
By the way, you can see my movie debut by clicking here.
Do you want to take part in this viral marketing effort? Crash your own trailer.
Do you remember the old School girl/boy game of "Around the World", or "Around the Bases"? If you got a kiss you got to First Base. A french Kiss was Second Base. Read further to find out how to hit a Home Run!
Are You Trying to Hit a Home Run With Your Prospects Without Asking Them on a Date?
Most prospects are only leaving their phone number about 1/3 of the time. So 2/3 are leaving just a name and email. If you don't have a strategy to approach this group, you are losing big time because your cost per lead skyrockets.
If you invest $9,000 a year into your online real estate marketing campaign. And you get 500 leads a month, your Cost per Lead is $1.50*. But if you aren't touching your email only leads, then you are affectively only getting 165. Your Cost Per Click jumps over three times to $4.55!
*$9000 a year/12=$750 a month. $750/500 leads=$1.50;$750/165=$4.55)
Email marketing is the most important part of online marketing. Yet, I find that it is the least understood, and least time spent by Online Realty professionals. Some agents will spend all day on their website. They will effort on SEO to capture a real estate lead. Yet, they never spend the time to strategize on how to court the opt in subscriber.
Marketing your real estate services thru email is about getting to the first date. Then the second, and then third. Until there is a marriage whereby you both swear allegiance to one another. And of course like many modern day relationships, this guy or gal will break this allegiance as soon as the scent of the next "hottie" walks past.
You may not even get to First Base let alone hit a home run. Andyour prospect may not even let you go on a second date. But one thing is for sure you will never get to a sale unless you start at the beginning. Then you can get to First Base....and second and so on. But most agents try to steal a kiss, without even asking the prospect out!
Instead of being "easy", think of your prospect as that guy or gal you have to beg and beg to go out out with you. And then after all that finessing she only agrees to go to breakfast! You have to strategize to win her over. You bring flowers. You do apparant random acts of kindness just to get to a second date and maybe first base. Before Free Love, this was called Courting.
Your prospect is not a product of the 60's. They believe that their loyalty comes with a cost. They want to be courted and you to prove yourself worthy. And making your listings available or offering a free report is a nice olive branch, but this frigid Diva expects some major courting. Do you really want this gal? Are you going to take care of her in good times and bad? Then you gotta pah-roove it.
The fact is that the vast amount of your prospects will not leave a phone number, and most won't take any serious action for several weeks. As I explained in one of my Ten Commandments of Online Marketing, people typically come to a real estate website to compare property. And they just do not know what they do not know.
At this point there is very little or no loyalty to you or your website. As long as the info flows, and they can get your MLS listings they will be happy enough to revisit your site, if for only the new home listings.
So in order to breed loyalty and afinity you must do a few specific actions.
Get yourself an Autoreponder/Drip Email system.
These automatic email systems communicate with your prospect while you sleep. You write your letters and articles once. And the system will send a mailer on pre-programmed days for ever. Until your prospect raises their hand and says I am interested to take this relationship to the next level.
Why would you segment your visitors? Because they think they are the most important person in the world. And if you want them to think you are the most important Realtor in the world, you have to make them important first.
This goes eons beyond dividing your prospects into buyers and sellers, and hot, medium and cold. Your email communications to a 30 year Vet at IBM should convey a unique tone and context diferent than your typical communication with say a self employed-entreupreneiral Contractor.
Educate & Interact
When you can get someone to have an "aha" experience, you often times will etch out a piece of their brain for you. Congratulations! You have now risen above just Real Estate agent. You are above the restbecause you have become not just someone who sells real estate. But someone who cares enough to take the time to care for this person who is the most important person in the world.
How? Teach them and get them to move along the sales funnel by bringing them to your site to learn and or get valuable and free reports.
I am not talking about the typical pre-written Real Estate articles and newsletters. You need to pour blood and write from your experience, from your heart. Would you send the object of your affection a templated love letter from a book? What would her reaction be? Thats the same reaction you will get from your prospect.
Your personality and expertise will shine thru and you will seperate yourself from all the others whom are too lazy to prove that they are an expert. Which is why when you do it, you will profit handsomely.
As you get your real estate prospect to interact with you and your site. You can ask them to reveal more and more until you have enough information to segment them, and take them to the next level of your relationship. And then perhaps they will want to do more than just "go out with you".
-------------------------
Tim O'Keefe is President of Spider Juice Technologies and is an expert at all phases of online marketing from Search Engine Optimization, Lead Capture and Converting Leads to Sales.
Tim O'Keefe
Spider Juice Technologies
Real Estate Marketing
310-533-9145
A recently completed report on home sellers and home buyers(Hebert Research for HouseValues Inc.), shows that home sellers take on average 9.3 months from the time they begin researching until they sell.
It takes home buyers 16.7 months, on average, to research and buy their next home.
The study aslo found that:
The survey also explored the reasons why consumers choose their real estate agent:
Consumers use agents for three main reasons: paperwork/legal work; negotiations; and access to listings.
Buyers and sellers tend to choose an agent based on experience, honesty and past relationships.
These numbers vary greatly from other studies say such as in California which found that :
"The Internet is enabling consumers to research and gather information well in advance of actually buying or selling," said Ian Morris, HouseValues CEO. "This research shows that real estate agents are critical to the transaction, but are chosen late in the decision-making process, and very quickly. The takeaway for real estate professionals is to be first, fast and frequent in their communication with consumers, and that often means delivering value and information many months in advance of an expected transaction."
Ian Morris says 74 percent of consumers now begin their home research online, yet only 10 percent of real estate marketing budgets have followed them there
Comments:
Being able to generate leads is not enough. Generating email campaigns that last overtime that shares your personality and stacks value on top of value will win over prospects and keep you top of mind when it comes time to choose. And according to the data they choose quick. Your job is to get out in front of the decision process early. You do this by capturing their name and courting and segmenting them until they are ready to move your relationship to the next level.
Borrell And Associates recently released their report on Online Real Estate Advertising.
The report details $11.4 billion in real estate advertising and focuses on this year's projected $1.8 billion in online media spending. It found out that the search engines are tapping local agents and real estate brokerage firms to the tune of more than $500 million and are rapidly growing share. Local agents and brokers now account for 23 percent of all Paid Search listings, bidding an average of more than $1 per click on local keywords.
Just got in from the Inman Conference which in my opinion is a must for todays online real estate agent.
The most important aspect was the networking. There were plenty of elbows to rub and lots of relationships to make.
If they gave at an award for conference networker, the statue would got to Michael Stark of PostYourProperty.com for sure. I bet that guy picked up a hundred link exchanges as well as future referrals. He is a testament at what you can do at a conference of this magnitude.
I guess I just added a one way link to his site:-)
Viral Marketing is commonly defined as :
Marketing phenomenon that facilitates and encourages people to pass along a marketing message.
Hotmail was probably one of the greatest examples of Viral Marketing. Mega Blogger Seth Godin wrote about it in his important Book, "Unleashing the Ideavirus"
I was prompted to write this piece because of a cute Viral Marketing campaign for the New Movie, "Wedding Crashers". It allows you to Crash the Video Trailer.
By the way, you can see my movie debut by clicking here.
Do you want to take part in this viral marketing effort? Crash your own trailer.