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How Response Channels Differ – Email, Phone, Chat and WalkIn An exploration of the data about how different response channels behave once they make contact with the property. A growing body of knowledge suggests that consumers use different contact channels at different times in their buying consideration. These channels have their own best practices and implications. We’ll send you out on a high note with a better understanding of how to handle inquiries that come in by phone, email, chat, or other. - Howard Tager, CEO, Tiger Lead Solutions- Peggy Hale, Vice President of Sales, Marketing & TrainingMorgan Properties
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Not All Leads Are Created Equal
Presented By: Howard TagerCEO, TigerLead Solutions
Not All Leads Are Created Equal
But Can We Equalize Them?
TigerLead is an industry leading real estate technology company that provides residential real estate professionals with a complete internet solution for generating, capturing, cultivating, and managing homebuyer and home seller leads.
- Licensed over 450 territories with over 4500 agents on the system- Manage over 2.6M active home listings and 1.3M active buyers- Generated over $4B in home sales- Produced 30M home search visitors- Convert over 50k homebuyer leads every month
Who is TigerLead Solutions, LLC.
50,000+ Leads Per Month77% of US home buyers used search engines to search for homesAverage Cost Per Lead of 6-8 Dollars
Search Marketing: What We Know
Key Stats:
Produces Serious Buyers: The biggest advantage of PPC. If someone types in “homes for sale in Waco, TX” there’s a very good chance they are serious buyers
Predictable Lead Source: Good PPC marketing will enable you to have a predictable source of leads every month. Unlike other marketing channels, there are fewer “feast or famine” seasons/periods.
Measurable Results: The search engines have well established marketing platforms that allow you to track how your every penny is spent, and make adjustments to maximize your return
What We’ve Learned About Search Marketing:
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Sold out in 75% of marketsSearch Engine Marketing becoming more competitive
Our Challenge in 2010:
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Our Conclusion: We needed new
sources for generating consistent high quality leads.
The TigerLead New Media Product Was Born!
Which New Sources Did We Focus On?
500M+ active worldwide users; 150M+ active users in the U.S.
50% of active users log on to Facebook in any given day
People spend over 700 billion minutes per month on Facebook
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Facebook Leads: The Good, The Bad,
and the Ugly!Let Them Stay in Facebook: FB users hate to leave Facebook while their browsing. Use a FB application like TL’s “Dream Home Finder” app to keep the user experience inside Facebook.
Demographic Targeting: Allows you to get to the “cream of the crop” prospects such as top professionals (ex. Lawyers, Doctors, etc.) or the military or employees of companies with relocation benefits (ex. Employees at Boeing).
Sharing is Key: The average 30+ Facebook user has 130 friends, and 50% login daily. When a Facebook user clicks “share” on a home or listing, it gets on average over 1,500 impressions*. Facebook prospects are almost TWICE as likely to share home listings as compared to search engine prospects, and they request almost 5-10X more showing requests.
Longer Buying Cycle: Facebook users are typically at the start of their home search, learn to be more patient with these leads, and use social tactics to gain referrals.
Facebook Leads Are More Expensive: Paid Ad Facebook Leads are 20-30% more expensive than Search Engine Leads
Facebook Leads are Savvier: FB Leads tend to unsubscribe to emails and MLS alerts at a higher % than search engine leads
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Which New Sources Did We Focus On?
Craigslist receives 60+ Million US visitors per month;
Craigslist receives 30+ Million new posts per month;
Craigslist has 400+ territories with “Real Estate For Sale” sections
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Craigslist
Craigslist Leads: The Good, The Bad,
and the Ugly!Control Pricing: CL is one of the few marketing channels where you can pick the homes you want to post and all leads that are interested in this home will be pre-qualified for this price range.
Low Cost: Craigslist posts are currently “free” for realtors, factoring in cost of labor, we have found Craigslist leads to be 2-3X cheaper than other marketing channels.
More “Ready to Buy” Leads: Craigslist searchers tend to be more serious homebuyers, we have found leads mostly interested in buying within 3-6 months
Tech-Savvy Users: Craigslist user tend to be internet power users, and are wary of registration forms. Give them time to explore your listings before asking for contact information.
Follow-up Is Important: Craigslist users typically come to your website having only viewed one listing. Follow-up right away by phone calls and emails to understand exactly what they are looking for.
Ignore the Bad Information: 50% of Craigslist leads either gave bad information or spent very little time on the search site. Once you filter out the “bad” 50%, the remaining leads are of the highest quality of ANY channel looking at homes with higher price points and over 50% returning to the search site within 2 weeks
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Phase 1 New Media Home Search
Phase 1 New Media Home Search
Phase 1 New Media Home Search
Phase 1 New Media Home Search
Phase 1 Results
Search Engines have 30% more valid emails than New Media
Search Engines have 35% higher return to site than New Media
Search Engines have 15% more responses for each email sent
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How We Tackled the Problem
Define “what is a quality lead”?
Create a model and system for comparing and monitoring lead quality
Create a strong testing matrix to isolate the “levers” for controlling lead quality
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Defining Lead Quality
Valid contact information
Frequency of returning to your TL search site
Open rate and click through rate of listing alert emails
Time on site and user activity within the TigerLead portal
Active behavior including favorites, saved searches, CMA’s, showing requests, etc.
Our Predictive Model for Lead Quality:
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The Feedback Loop
Learning From Our Test Matrix
Users must define what they’re looking for!
How to “Lift” Craigslist Lead Quality
Reduce your Craigslist Pollution as much as possible
Be “organic” as much as possible
Always send them to a full search
Always request visitors to explicitly define their search
criteria
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How to “Lift” Facebook Lead Quality
Match demographic targeting to pricing and interests
Let browsers browse (let them search longer)
Build user controlled “sharing” and “registration”
opportunities
Take advantage of Facebook registration levers like
“share”, “like”, “accept”, and “send”
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Phase 2 New Media Home Search
Phase 2 New Media Home Search
Phase 2 New Media Home Search
Phase 2 New Media Home Search
Phase 2 New Media Home Search
Phase 2 New Media Home Search
Phase 2 New Media Home Search
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Successful Phase 2 Results
Search Engines has only 1% higher return to site than New Media
Search Engines have an equal level of valid emails as New Media
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Thanks!
Presented By: Howard TagerCEO, TigerLead Solutions
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