Finding the right marketing mix for effective lead generation is the key to success in the real estate industry. Here are 6 ways to generate more real estate leads.
The real estate industry is one of the most competitive markets in the world. Agents and property developers have to seek innovative ways to edge ahead of the competition. From transforming the esthetics and functionality of houses to innovative marketing and product placement, gaining the much-needed competitive advantage in this industry requires grit, consistency, and unbeatable innovation.
The cutthroat competition is heightened by the complex demands, tastes, preferences, and diversified demographics of targeted customers. A fast-selling property in a Texan city may struggle to find renters or buyers in Manhattan, New York. Properties in suburban, inner cities, rural areas, and downtowns all attract different customers.
Finding the right marketing mix for effective lead generation is the key to success in the real estate industry. Turning prospects into customers and working on strategies to retain them will ensure that you have referrals and returning customers. Returning and referred customers are critical pointers to your success as a business. These customers highlight areas you need to amplify through refocused resource allocation.
Why Invest in Lead Generation in the Real Estate Industry?
The property market, like other industries, is currently struggling with unprecedented economic times. The global coronavirus pandemic has adversely affected customer purchasing and saving capabilities while diminishing investor spending power. Turning prospects into real customers is essential for any real estate business to remain afloat. Effective lead generation will impact your company in the following ways:
The current business landscape heavily relies on technology, including websites and social media platforms. Directing traffic to your company website and social media platforms can easily attract potential customers. High traffic translates to an increased likelihood of converting prospects into customers.
Strategic lead generation approaches are specifically aimed at increasing your online presence and generating high traffic to your online platforms, including website, Facebook page, or Instagram. Showcase your properties and services online through highly curated content. Therefore, use a DrDrone.ca drone for those overhead photos of your property and include the images on your website.
Targeted and effective marketing
Lead generation helps your business reach targeted market segments in the real estate industry. Demographic targeting enables your company to develop effective marketing strategies and brand awareness campaigns. It is typical for the marketing team to feel frustrated by a seemingly limited number of new prospects available in the market. Lead generation will help your salespeople to redirect their efforts towards the right people.
Creating brand awareness
An effective lead generation strategy includes nurturing the prospects and converting them into customers. Your business can build a strong relationship with leads by creating content that strategically appeals to your targeted customers. You can refine your sales pitch when developing a lead generation strategy to improve your sales funnels.
Driving up sales
Generating the right and new sales leads is one of the best ways to grow your business. Your company can use modern technologies specifically designed for intense, curated, and highly effective lead generation capacity that extends beyond cold calling. These technologies, including social media, combine the power of cold calling and networking to create a platform with interactive features and real-time communication.
Increasing your profit margins
Lead generation has transformed from a buzz to a business strategy because of the financial connotations. A good lead generation should bring in new customers and help in growing your sales volumes. You need to attract more customers while also retaining the current ones. New customers translate into more properties rented, leased, or sold. The right leads can increase your profit margins.
Smart Ways to Generate More Real Estate Leads
The changing technology and marketing landscapes require a constant reinvention of business strategies. Lead generation radically transforms sales, marketing, and brand awareness. However, lead generation is a challenging undertaking that requires tact, innovation, and creativity. The following smart ways will help you generate more leads and set your real estate business towards success:
Create and optimize your social media profiles
Amassing a large following across different social media platforms, including YouTube, Instagram, Facebook, and Twitter, will increase your pool of leads. Optimize your lead generation by optimizing and customizing the content you post online. Engage with your followers by highlighting important content and events such as property viewing, customer engagements, and meetups. Ensure that your lead magnets are creatively and prominently advertised across social media platforms.
Sometimes all it takes to sell your property is a well-taken and edited video that is creatively pitched. Use the platforms as communication channels. Nothing can substitute real-time and live chat with customers. You also get the advantage of saving on the cost of marketing, event promotion, brand awareness, and communication.
Embrace Search Engine Optimization (SEO)
Today’s customer is highly informed. Purchasing decisions that your renter, leaser, or property buyer stems from consulting countless professionals. But most importantly, customers are increasingly turning to the Internet, specifically Google, as a source of information. Create and publish SEO content with keywords to ensure that your articles are highly optimized when searched by customers.
Before setting out to create SEO content, take some time to understand what your leads prefer. Target the keywords frequently searched by your top-of-the-funnel prospects. A blog paid for by a real estate company whose message and keywords are off is a waste of money and valuable time. You can include articles on your properties and purchasing guidelines. Find information gaps in your industry and fill them using highly curated content.
Break the rules by organizing and hosting events
Standing out in the highly competitive real estate property market can be challenging. When working on your lead generation strategies, thinking outside the box can be a game-changer. Break the rules by hosting unique events that can sway customers. A live video tour of the properties or webinars with prospective customers can change the final product that comes out of your sales funnel. Learn more about your clients and give live feedback. Your leads will get an all-access view of the house. Use these events as excellent opportunities to build a strong reputation and rapport with the clients while also standing out. Remember, your primary objective is to attract and convert leads into customers.
Opt for pay per view ads on social media
Millions of people can view an ad on Facebook, YouTube, Twitter, or other platforms. Pay per view ads is a great way to tap into the growing power of social media platforms as marketing tools. You also get the bonus of tracking your ads and spending less. Businesses can also create highly targeted ads customized for specific demographics. These advertisements can also be edited depending on different market segments.
Always reward customers
Attracting and retaining customers is a critical success factor in any business. Reward customer loyalty by offering discounts or gift hampers, especially for those valuable referrals. Returning and recommended customers are essential for trust. Therefore, grow your lead funnel by giving your customers tokens of appreciation. The reward can be signed newsletters or eBooks. Referrals are great ways to have your brand and customers working for you.
Drive the conversation around your business
Avoid taking a passing stance when generating leads. Once you have created content on the company website or social media pages, don’t take a back seat. Become a thought leader and shape conversations around the issues you have discussed in your articles. Reach out to others within your sphere of influence and create a huge collision around your product and services.
Lead generation is the lifeline of businesses, especially during these harsh economic times. However, embrace technology to connect with buyers through highly effective online content and thought leadership strategies that target your sales funnel.