One thing about slower markets. They seem to bring out the competitive nature in those who are driven to succeed. Some hang their head down and slowly walk off into the sunset. Others put their efforts into overdrive–determined to not only survive the tough times, but to also build a base for the future.
It is during these times that those who are driven to succeed make sure they have all the tools necessary for success. After all, if things are slow, why would anyone interested in success not use all the tools at their disposal? For example, when leads are in short supply and a tool would help you use your existing activities to increase your supply, why would you not use this tool?
Such is the case of the real estate industry and call capture mechanisms. One of the most important synergy rules dictates that we are not to market without a response mechanism. Most advertise and think that a coupon or reduction in price will get the phone ringing. Think again. When times are tough, everyone is cutting prices.
Call capture systems actually enable one to use a simple phone number in a multitude of ways in order to get a consumer to respond. For example, let’s say a real estate agent has a listing. The provision of information about the listing will help generate offers. But the provision of information also can provide the opportunity for producing additional leads. Top producing agents in most jurisdictions are listing agents. Why? Not only can you manage more listings than buyers, but each listing if used properly can become a lead machine. As a matter of fact, a listing is the most important marketing vehicle that an agent can have. In hot markets, listing agents are known for delaying putting up “sold” signs so that they can “stretch” every lead possible out of that listing.
How does call capture work with listings? It is simple. A sign “rider” is placed on the listing with an 800 number. This number offers more information on the property. Many will not call an agent for information on the property, but calling an 800 number is considered “safe.”
When the prospect calls the number, they are given options. For example, the options may be–
•Press one to listen to information about the property;
•Press two to speak to the real estate agent directly;
•Press three to get a free pre-approval from a loan officer;
•Press four to receive a free report, The Ten Mistakes People Make When Looking To Purchase a Home.
No matter which option is selected, the “owner” of the number will be notified. The notification could be a call on a cell phone, an email or an on-line report. It would not be unusual for a loan officer and real estate agent to work together using this marketing approach. Some clients would be reticent to contact the agent because they fear they will get a sales pitch on the property. But if they are interested in purchasing, they may be curious regarding what amount they might qualify for. Or they might want a copy of the report.
This example of converting an existing listing into a lead machine is a classic case of using a new tool to provide more results for an existing activity. Today when the market is slow–how much stronger would your business be if you obtained ten more leads per week? And this is not the only use of a call capture technology. If you have a storefront, why not have an “unobtrusive” phone number with an offer in the window for those who are passing by? Once again, you should never market without having a response mechanism.
Of course, obtaining the leads is one thing. Converting these leads represents another task. There is no doubt that there are going to be “tire kickers’ among the calls. You might receive ten calls for every true lead. That calls for patience and perseverance. On the other hand, in real estate ten calls per week resulting in one deal per week can result in a very good income. And if you get even better with regard to your lead conversion skills, you can double these numbers. Even in a slow market!
