My post was too spammy - so here's some of the actual contents of the page I recommended. I've moved the link to my signature if you happen to like the contents; most of this is applicable to real estate agents more than investors, however, it's definitely applicable and as a marketer, I see these mistakes made by real estate investors all the time.
Hope this helps
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Thanks!
First, here's the Executive Summary Version:
The #1 Mistake agents make marketing to FSBO's and Expired Listings is expecting them to convert in the first 48 hours. Typically, agents lack followup, and studies show the majority of Expired Listings convert 3 to 6 weeks after withdrawal. During this first 48 hours the seller is bombarded with solicitations, but fewer than 15% followup longer than 2-3 weeks.
With FSBO's, one of the most common mistakes agents make is not going after the FSBO seller as a buyer. Most of the time, a FSBO seller will buy within the area, and turning them into a buyer client often results in that agent getting the listing, assuming a professional experience is delivered. Part of the reason this works is avoiding what all the other agents are doing: pressuring them to list.
The #1 way to convert leads is provide real value via a bait-response system like we just did. We offered you a whitepaper (value) in response for information (registering for our communication). If we provide real value in the content, you see our expertise, opening the door to a future relationship. This is the basis of the Craig Proctor "school of marketing", but it has been around far longer than him.Ideally, one would use this as a means to "widen the funnel" and offer a "lot of flypaper" to capture leads.
The two dominant "Schools" of marketing are not contradictory; they should both be used. Bait-Response "Free Report" marketing should be used to cast the widest possible funnel for interested people who do not yet know you, then once the lead is captured (via Movoxo.com video lead-capture systems, autoresponder marketing systems such as Aweber, 800# Call-Capture systems), an agent should use proven referral marketing systems such as Brian Buffini's "By Referral Only" or Keller Williams "33 Touch" and "8 touches in 8 weeks" type systems. Using either of these systems ("value/register" or phone lead capture systems, or the database referral marketing) without the other leaves significant profit on the table.
Instant-play video has proven to cut "bounce rates" for casual surfers by 50%, and raise page visitation time and percentage of engagement by 400% to 500%. This was a study done by Movoxo.com, now launching version 2.0 (September 2008) with their recommended bait-response turn-key "squeeze-page stealth site" kits; see FSBOSupplies.com, SecretsKit.com (homebuyers), BadMarketSecrets.com (expired listings).
The easiest way to capture more leads and at the same time segment your incoming leads by "hot button" personality types is to run multiple competing headlines, ads, or call-capture boxes. For example, if you run "Sell your home for 17% more money by applying these 3 secret techniques - box 123" and "The dirty trick that Scammed Seller John ____ out of $8,400 - box 456". Your "forward thinking" "reward motivated" people are more likely to call box 123 first, and your "pain motivated" people are more likely to call box 456 first. Which one are you? One of those headlines is more compelling to you. You can use this with your search engine optimization, landing pages, and if you use this to segment your list, you'll be able to amplify the pain / pleasure in future marketing, enhancing your ROI.
The #1 Money-Waster in Real Estate Marketing is homes and land magazines, compared to direct internet advertising, on an ROI basis. The ROI on these varies but invariably is far inferior to money spent on a proven "squeeze page" with search engine optimization and/or pay-per-click. Newspaper ads are proven and work well provided you use call capture technology and automated followup, but consider - the few thousand you spend for a homes & land ad - how much in google pay-per-click can you get for that? You'll reach far more targeted and better quality leads online.
Jan 08 '09, 11:50 PM
