Webinar Recap: Relationship Management the Key to Lead Conversion

Posted on Jan 26 2021 - 2:19pm by Liz Dominguez

Often, brokerages rely on online leads to produce the vast majority of their business. However, this is not always the most effective way to generate profits, especially as fewer than 1 percent of online leads actually end up closing, according to research.

During RISMedia's recent webinar, "Fewer Than 1 Percent of All Online Leads Closed in 2020 – There Is a Better Way," sponsored by IXACT Contact, panelists discussed how brokerages can focus on CRM-driven strategies to close more business.

Moderator Cleve Gaddis, coach with Workman Success Systems, emphasized that the way to close more leads is to simply get in front of consumers and existing contacts by using a CRM (Customer Relationship Management) platform.

What are some ways to do this? According to Shannon McGee of IXACT Contact Solutions Inc., industry professionals can record everything from consumers' personal dates and move-in anniversaries to wedding anniversaries within their CRMs in order to best leverage the technology.

Panelist Christina Silva, principal broker of Real Estate by Referral, relies on these types of dates and also sends out content consistently via newsletters, using information about listings and "what's happening in my world."

"Send out a monthly email newsletter even if they don't open it because at least they are seeing your name," emphasized Gaddis.

The best part of this strategy is allowing agents to set up automatic campaigns that lead generate for their business without having to put any additional time and effort—the opposite of cold calling, which can be a costly time investment.

"On your CRM, there are different campaigns you can automatically put your clients on. We try to always find things where our agents don't have to do anything," said Don Zimmerman, branch broker at iPro Realty Network.

"Putting them on either a campaign, drip system, trying to stay in front of them. Getting their social media, going through their feeds and looking to see if they are celebrating a life event. If you can be an agent that is sharing information and getting out there and networking, you can really be of value," said Silva. "Once you have built that trust, it gives you the opportunity to serve them at a deeper level."

Often, leveraging CRM technology is best done with existing clients, as many brokerages have found their success with a referral-based business rather than relying on cold online leads.

"The process of getting clients is really getting to know people. It's building trust," said Silva. "What I attract are agents that work by referral and who want to do things that are a little bit more warm—contacting people they already know. That's what I focus on: referrals."

"We try to instill in our agents that you're building a relationship with your clients, and there's a lot of ways you can do that," said Zimmerman. Silva agreed, adding that these types of relationship-building strategies, such as consistent check-ins, are like "little seeds that you are planting for more referrals."

In fact, according to McGee, "You can nurture a whole business without ever having to contact a cold lead."

View the webinar in full below:

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