Strategies for converting new leads to prospects. Look in the How-to’s for standards for lead response and techniques to increase conversion.
Converting lead into prospects is an essential skill for any member of the team who interacts with the public. More efficient conversion of opportunities means greater closed transactions with the same amount of leads and more amount of time available to be spent on service and supporting existing clients. We become excellent at lead conversion when we:
Respond to questions quickly
Demonstrate skill at all aspects of our role
Know our market
Ask good questions of our leads
Are approachable and friendly, but also professional
Focus on the lead/client’s needs, not our own
Speed to Lead is Real and it is Crucial
It is crucial to respond to leads as quickly as possible in the manner that they wish to communicate. Lots of studies like this one back this up and underscore what a difference this makes. Responding to leads is one of the most crucial items that any member of our team can do.
Use Video to Transcend Time and Space
Using video on our team overcomes a number of problems that we have when converting leads. We use tools like Bombbomb to overcome issues of time and space.
Common Lead Conversion Problem
How Video Helps
Lead doesn’t want to meet or talk on the phone
Video transmits voice, expression and body language over email or text
Lead isn’t available when I am/doesn’t answer calls
Video is available when the lead is ready to receive the message
Lead is in another city/country from me
Video is available anywhere email can be read
Lead comes in at night/when I’m unavailable
Autoresponder can have a canned video message. Lead can vet our team on our YouTube channel.
Lead might feel I’m a stranger or “sales-y”
Video gives an authentic impression of us. It separates us from being “just another agent.”
It’s hard to give detail over a text, or nuance in a written email.
Video is easy to create and can convey appropriate meaning and nuance to words.
Ask and anticipate what a lead wants, but don’t assume you know.
Everyone wants to be seen and understood, and a lead engaging with us is no different. Ask questions and give some thought about what the lead might really want (and how you can help them get it). On top of being the best way to genuinely serve people, asking thoughtful questions may even make you appear smarter to the person you’re talking to.
Here are some examples of ways that you might want to think about different kinds of leads:
What they might really want
How you can help
Details of the home, booking a showing or open house visit, whether they can afford the house
Respond quickly with a feature sheet. Ask questions about what they’re looking for and offer to show similar homes as well. Ask if they would like an opinion of value on their current home. Ask if they would like details on sold prices in the area.
Clicked on General Buyer-Focused Ad Online
Information on how to get started on buying a home or how to navigate the process. How to avoid scams or pitfalls. Fear of doing things wrong.
Respond quickly with low-pressure, free information. Invite them to the office or Google Meet for a process presentation. Share links to our market updates, process or paperwork videos. Invite them to follow us on social media or get our WCR.
Open House Attendee
How their home compares to this one. What the neighbourhood is like. Whether you’re a competent agent.
Respond in a low-pressure, but friendly and professional way. Ask questions about what they’re curious about. Point out features of the home or neighbourhood that may not be immediately apparent.