3 Ways Automation Can Revolutionize your Sales & Marketing Plan
In 2020, approximately 97% of homebuyers used the internet to help in their home search. This is irrefutable proof that the digital age has changed the way buyers and sellers are experiencing our industry; if real estate agents don’t change with them to meet their needs, they will inevitably fall behind their competition. This means not only building a website and using social media in your marketing & sales plan, but also integrating technology into your business to make it more efficient.
From the power of artificial intelligence to geodata farming, technology can save your business time, money, and allow you to grow at a much faster rate than the traditional methods of cold calling and door knocking. Automation is one of the greatest ways you maximize your performance. Let’s take a deeper dive at a few ways your business can benefit from the integration of automation.
Sales & Marketing Plans
Every step of the sales process, from first contact to the final closed deal, can be put on autopilot with the use of automation. When you consider how long that process can be for cold leads (which require careful and constant follow-up plans that many agents neglect), the power of automation can streamline the experience so you and your team can focus on other aspects of your business.
Speed to lead is one of the most important factors in the real estate industry. Most buyers and sellers go with the first agent they speak to, so the faster you can get in front of new leads, the more likely you’ll be to secure them as a client and, ultimately, make a sale.
Internet leads are extremely accessible and relatively low-cost – especially if you go with vendors like zBuyer and REDX, both of which are known for their positive ROI. Automation can help you make contact with these leads at the very second they come in; REN software in particular can create outreach text messages, emails, and home valuation reports to send to new leads as soon as they opt-in. You no longer need to worry about interrupting a showing, open house, or dropping everything to call them in the moment or worry about them slipping through your fingers and into the laps of your competitors.
If you prefer to do your own prospecting, cash offer campaigns (which do considerably better than cold calling) can be fully automated as well. REN has a cash offer prospecting campaign with 27 total actions that go out over the course of a year, with the first triggering immediately. If the lead answers the text, the response is automatically sent to your phone to ensure a quick conversion. It’s no surprise that Aberdeen Research estimates that marketing automation can increase conversion rates by up to 53%.
Did you know that it takes 8 to 12 touches before most leads convert? Many real estate agents struggle with follow-up, giving up after the first 2 calls or texts. This can make it impossible to convert colder leads that have a much longer conversion cycle. Since different lead stages require different forms of follow-up, it’s essential that you know where each lead is coming from to determine how to proceed. Organize your leads into 3 lists: A, B, and C.
- A List: Your A list is comprised of hot leads that are ready to buy or sell NOW, making conversion much simpler. They require constant outreach – think 10 texts and 10 emails over 10 days. This keeps you at the forefront of their minds, especially when you’re providing valuable information and focusing on the quality of the client experience. The conversion cycle for A list leads is usually 30-60 days.
- B List: Your B list is made up of warm leads that are typically ready to convert within 3 to 6 months. The follow-up plan for B list leads must be consistent, but not so frequent that it causes irritation; remember, they aren’t quite ready to buy or sell, they’re in the research phase. This means your follow-up should be tailored around offering information about their local market, facts about real estate industry trends, and always being available for questions.
- C List: Your C list is made up of dreamers. These people are planning on moving at some point in the future, but they haven’t quite nailed down a time – or sometimes even a location. The conversion cycle for C list leads is generally 6 months to 1 year, and sometimes beyond. Though C list leads take the longest to convert, they generally have a higher conversion rate; if you put the time and effort into keeping in touch with them for up to year, and theyll remember who you are and why you’re the right agent for the job.
- D List: If your database is big enough, you can organize an optional D list, which is made up of very cold, long-term leads. This is completely optional but can pay off with patience; the conversion cycle for D list leads is typically between 1 to 3 years.
Each of these lead stages requires a different follow-up process uniquely designed to warm them up and keep you top of mind in their real estate agent search. Unfortunately, setting up 4 different follow up campaigns for hundreds, if not thousands, of leads can be time consuming – not to mention easy to forget about.
Automation can be used to set up these campaigns in advance; once you have text, email, and video content ready to go (which REN can create and provide for you), all you have to do is sit back and let the technology do the work. Certain triggers will begin each campaign when a new lead comes in, or an old lead hits a new stage; your content will be sent out at certain intervals to make sure you never lose sight of that lead – no matter how far out they may be from converting.
Remarketing is a powerful but often underutilized aspect of digital marketing. It allows real estate agents to target leads that may have visited their website, clicked on their Facebook ads, or otherwise expressed interest in finding an agent whether or not they’ve taking any direct action. It’s an extremely effective way to go after leads in cooler stages; you know they’re looking to buy or sell at some point, so remarketing offers you the chance to keep your name, face, and brand in front of them while they continue their search.
Remarketing provides a second chance to convert, upsell, or retain clients via online ads or campaigns (think Facebook or Google). With automation on your side, those ads and campaigns can be established will in advance and triggered whenever someone visits your website.
One of the benefits of working with REN is our remarketing technology; you don’t have to deal with fragmentation and create campaigns on multiple platforms (again, think Facebook, Google, etc.). You simple choose your ad type, edit the design (if desired), and set up the cycle – no Facebook Ads Manager required! Then, you simply let the campaign do its job.
The Bottom Line
As you can see, automation can make every single part of your sales and marketing processes easier. The less time you spend writing emails and sending texts – not to mention worrying about keeping in touch with older, cooler leads –, the more time you’ll have to focus on other aspects of your business. You’ll be free to do what you enjoy, whether that’s focusing internally on growing and expanding your team or making your client experience the very best it can be.
REN’s automation technology can set up campaigns for lead generation and follow-up in just a few simple steps. If you’re ready to leave the busywork of your real estate business behind so you can start focusing on what really matters to you, sign up for your 14-day free trial of REN 360 today.
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