Last Updated on March 18, 2020
Do you have stale leads in your contact database? The reality is, only about 20% of leads ever convert, so you probably have more than you’d even like to admit. Don’t start feeling guilty now, this happens to every agent. In fact, it happens to every business.
I see this so often that it really pains me: leads fall by the wayside everyday when they don’t engage with the sales side of the process. Oftentimes, when a lead isn’t showing signs of viability, it just gets dropped. This is the BIGGEST mistake you can make as a Sales Professional. All leads have value to your business.
A Lead is a Lead is a Lead
A lead is not a sale, it’s an opportunity for a sale. Opportunities naturally take time to develop, and although some leads convert quickly, most require time and multiple interactions with you before they show any potential.
So what do you do if you’ve lost touch with some of these opportunities? Reactivate them!
No Fail, No Fuss Lead Reactivation
This 2-step approach to getting in touch with old leads was first developed by Agent Inner Circle Founder Craig Forte, as part of his comprehensive Agent Marketing System, Service For Life!®. Today though, I just wanted to focus on one element of his highly-effective strategy for reactivating.
1. Send a Text
This seems too simple, I know… but that’s the beauty of it! Short, concise, and easy to respond to messages are more likely to be read, plus they typically get a response within 90 seconds! (See our download below for examples you can use.
2. Make Them an Offer
Once you get a response from a lead, let them know you’re reaching out because you’re offering a Unique Service Package to your clients right now. Naming your services adds a professional element to your offering and helps prospects understand exactly what they’re getting from you:
- Advanced Home Locator Service™ for Buyers
This is a free service you can offer leads, and the tools to do so are already built into your business. Use your MLS, your network and any online sources where listings get posted (Craigslist, Kijiji, Facebook) to find properties that match the lead’s search criteria. Email them a new list of properties with photos weekly.
- Maximum Value Home Audit™ for Sellers
This enhanced home audit takes CMA’s to the next level. Provide a detailed assessment of the entire home, and every item, in every room. Note the condition of things using a rating scale, and then give each room a score. Focus on items you know will have the greatest impact on the sales price: windows, doors, flooring, paint walls, trim, sinks, appliances, etc. You’ll also want to score things like curb appeal, landscaping and proximity to schools and shopping. Looking at the home from this perspective not only helps set expectations with your sellers, but also helps you price the home to sell for the highest price.
The best part? We’ve done this for you! Download Agent Inner Circle’s 2-Step Lead Reactivation Guide which includes text and email scripts to get you started:
Get Personal to turn Leads into $$$
Now that you’ve re-activated your leads it’s time to put the real work in so you can turn those prospects into business. As I mentioned before, leads have a wide variety of timelines before they act, so it’s all about long term follow up… but not just any follow up.
With technology and communications flooding our daily lives, people are in a constant state of motion. Some of your messages will undoubtedly get lost in the mix unless you know how to personalize your approach and stand out in an inbox or mailbox.
When you can, try to use personal pieces of information to follow up. This will increase the chances they remember you and respond.
For example: You called a lead, but they weren’t able to speak at the time because they were taking their son to soccer practice. Next time you reach out, mentioning the soccer practice gives the lead a point of reference, so it’s more likely they will read your message.
You should personally follow up as much as you can but keep in mind this isn’t scalable and is probably why you need to activate these old leads to begin with.
So… once you’ve re-activated your leads, you need something that looks and feels personal and drives leads to action, without all the time commitment of following up one by one.
Create a Valuable, Engaging, and Action-Motivating Content
Whatever you do for your follow up, it must make a huge impact. As I mentioned, people are busy and don’t want to be bothered with junk mail or blatant pitches. So you need to get beneath their “advertising radar” to engage them.
There are 5 things your content needs to do:
First, it needs to be welcoming and perceived as valuable. I recommend using a newsletter with valuable “how-to” consumer articles and resources, such as Service For Life!® (see a sample by clicking on the links at the very BOTTOM of the web site home page).
Second, it needs to involve and engage the reader. This is done with valuable content as well as involvement devices, such as trivia questions, crossword puzzles, or even humor.
Third, it must demonstrate your competence as a real estate professional. So you should also include a short article on topics related to real estate.
Fourth, it must bond the reader to you in a very personal way. I like to make the newsletter “look” very personal – as if it came right off my own personal computer. I also use very unique psychological methods such as client recognition, client appreciation, new client welcoming and other techniques.
Finally, it must motivate some kind of action on behalf of the reader. Throughout our newsletters we offer special consumer reports about buying and selling, Maximum Home Value Audits™, and customized lists of homes for sale – perfectly matching their criteria! These offers create urgency with the reader, making them ACT on your behalf. If you don’t offer them something valuable – and almost irresistible – your contact will be wasted (along with your money).
Don’t Overlook a Single Opportunity
If a lead really isn’t showing potential after you’ve put in all the work to nurture them, WAIT – they can still be of value to you! This particular buyer or seller may not be ready to make a move right now, however if you’ve built up a rapport with them, at this point you can ask for referrals. And make sure you ASK!
So, grab all those leads you may have thought would never produce a sale, and start reconnecting with them today!