With the pace at which technology is evolving in the field of real estate, and the ever changing needs of consumers evolving, it’s no wonder that agencies struggle to process the overwhelming task of building their pipeline.
Lead generation is an essential part of this strategy, and often makes or breaks a successful agency in a highly competitive environment. Therefore it is crucial to have a comprehensive lead generation plan, one that uses different channels and does not rely solely on portals.
What does your lead generation strategy consist of?
Generating leads comes with quite a few challenges, the quality and consistency of lead generation will depend on the software and websites you use, as well as the channels used to generate leads.
Besides using portals, there are other more efficient and cost friendly channels to take advantage of when running a real estate marketing strategy.
The various channels
There are plentiful options at your disposal for generating leads, for instance:
And the list goes on. Many channels come with their benefits, as well as a set of drawbacks, whether it is financial viability, long term success or outright effectiveness. As society evolves and times change, so do the most effective and sought after channels.
How to remain competitive: Digitalisation of marketing
As modern marketing takes larger and larger strides towards digitalisation, it’s increasingly clear that simply relying on word of mouth and ignoring digital solutions to lead generation is a surefire way of getting undercut in the competitive markets.
As consumers move towards ease of access online, the way they consume media, alongside marketing, has shifted. A survey found that 90% of tenants prefer to begin their property search online rather than visiting a high street agency or looking at pamphlets of properties. Instead the preferred channel is social media, or your website and portals.
This is where agents will obtain the most consistent lead generation. Thus, as an agency you have to stand out and make sure a lead can easily find you and come to you.
How to take advantage of new and more cost efficient methods of Lead Gen
Most agencies allocate a budget for leads, the average cost per lead being £60. Some methods of Lead Gen are just not cost effective and scalable when trying to grow your agency.
If your properties get on average 10 leads, closing the offer means that you are also experiencing sunk costs of acquisition of £540 per property when the previously acquired leads go to waste.
These leads have a value on the market, and can be monetised. This is where XChange helps you increase maximise your revenue. XChange will match applicants to properties allowing you to monetise every lead and never experience sunk costs again.
Additionally, it’s become more apparent that in times of limited mobility like what we’ve seen during the pandemic, property portals like Zoopla and Rightmove have shown their inefficiencies relative to the cost per lead.
This is most likely due to the saturation of such services. As more and more agents start relying majoritarily on these portals, their effectiveness for your agency becomes inferior to other sources.
Fortunately, XChange offers a brand new channel for property instructions. You can boost your revenue through the platform effortlessly. easy matches with 500+ live properties, means you can focus on matching all your leads thereby reducing your sunk costs.
The diversification of lead generation channels is the defining factor of long term success that otherwise wouldn’t be found by simply relying on the diluted portals.
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