Convert 60-70 Percent More Leads with Social Lead Nurture vs. Just Email or Phone
This post is sponsored in partnership with Ylopo.
Email isn’t getting it done when it comes to cultivating contacts and previous clients. In the meantime, advanced Facebook campaigns have proven to be the better solution for agents and their sellers.
To overcome the burden of discovering new clients, the real estate industry has provided its practitioners a limitless array of tools, tactics, solutions, software, coaches, conferences, books and blogs.
But what hangs off of that increasingly heavy bandolier of outreach weapons is only helpful when directed at the right target.
The real complication isn’t necessarily in pinpointing new business, as the industry still benefits—and likely always will—from the vast majority of home sellers still having to rely on the expertise of real estate agents to help them transact business, even in the face of “i-buyer” web platforms and tech-driven alternatives to traditional deals.
Instead, the most tangible challenge for today’s agent is the landing of leads that come calling. (Or emailing or texting.)
Thus, agents actually face the larger problem of nurturing leads into customers, not discovering new leads, something far too many agent spend too much money trying to find.
Drip Campaigns: Not Enough Irrigation
Most experienced agents have all the leads they need in their existing databases. And email is often the preferred method for reaching them.
However, typically only 20 to 30 percent of that database is actively being reached via email, even less when those who have ceased interaction or have bad addresses are not actively deleted or re-engaged.
Not only are drip campaigns becoming ineffective in keeping pace with mobile, multiple-device consumers. And, email clients, such as Gmail, now automatically filter non-critical messages away from primary inboxes.
The very concept of “drip campaigns” suggests passivity, connoting a hands-off approach to what should be a consistent, dynamic marketing effort. Smart email campaigns need to be tested and measured, and content consistently adjusted to appeal to fast-moving, tech-savvy audiences.
The evolution of Facebook from a casual connectivity platform to a proven generator of business and branding powerhouse is having a tremendous impact on the way consumers communicate with companies.
We are using the social media stalwart in ways never predicted upon its launch, and the world’s biggest industrial entities are using it to nurture those already engaged with their offerings.
Since so many of us are more engaged with Facebook than our inboxes, real estate agents would be wise to consider working with a software partner that understands how it can be better leveraged than email to nurture leads.
We believe Ylopo is that partner.
CRMs: Only The Beginning
Customer relationship management products have become sophisticated, omnichannel marketing platforms. As multi-office enterprise investments, they often require brokerages to perform months of due diligence and exhaustive training to onboard, much of that due to their ever-padded list of features. While many CRMs are well worth the endeavor, some have grown well beyond simple ways to manage contacts.
Lead nurturing doesn’t have to be that complicated, especially when handled by software designed specifically for it.
Ylopo’s approach is to help users stay in front of the leads already paid for, and in some cases, use that strategy to also empower a partner CRM.
The right Facebook ad campaign can flip a database, helping agents engage 80 percent of their list, as opposed to 20 percent.
In one case study, a real estate brokerage connected a list of 29,000 contacts to a Ylopo account. Contacts’ social profiles were immediately targeted by a series of automated Facebook ads and content. Augmented by an additional ad budget of $1,132, results were nothing short of impressive.
For merely 15 cents per click, website traffic leapt by 409 percent, and click-throughs to the broker’s custom, Ylopo-provided home search site numbered 1,097 within two weeks.
But, clicks and views don’t produce revenue. Commissions do.
The lead-nurture campaign produced 14 showings, two offers on listings averaging $680,000, and $68,000 in commission.
All told, the nurturing of an existing database via Facebook advertising produced a 3,428 percent ROI on the agent’s combined ad and technology spend.
Drip Campaigns & Segmenting
Another drawback of email is that it requires a great deal of effort and metric analysis to segment audiences.
Facebook allows for simple demographic segmentation, a benefit that Ylopo captures automatically by categorizing audiences for specific listing types, making accurate, targeted nurturing as easy as a few clicks. For example, it’s important that first-time buyers aren’t seeing listings best for second-home buyers, and vice versa.
The division of audiences can make or break a Facebook ad campaign, and not doing it correctly often leads to agents giving up after a few ad views.
The company’s ad builder tools make it easy enough to create an age- or location-based audience, but ensuring that group sees listings that appeal to them is very complicated for those not fully vested in the technical workflows of online advertising. A solution like Ylopo can become your full-time Facebook marketing manager, handling the nuances of matching people to properties.
In summary, lead nurture is more important than lead generation.
Agents who have been in the business for even a few years know a top producer who works “only on referral.” That top producer knows how to nurture the leads and relationships they’ve already paid for with their money, time, and years of service.
However, the technical advancement of social media and its immeasurable depth of demographic data has made it possible for agents to nurture existing leads and earn referrals without decades of handshakes and open houses. Today, Facebook has reduced the timeline it takes to properly nurture leads, and exponentially expanded the reach of your brand.