smart selling approach-2
Driving quality leads
DRIVING QUALITY LEAD TRAFFIC – In real estate sales
Driving quality leads – Background
If you ask a Real estate salesman, he will be always asking for more leads, but what exactly means by more leads is a question. More leads will not serve a purpose, rather quality leads will serve the purpose. A good salesman will always focus on quality leads. So it is very important for a marketing department to generate quality leads.
We need to understand, that How many of the leads are useful to the sales team, or in other words really help or support the sales team for faster conversions. This will be the starting point of the thought process for two reasons.
- Today the prospects are smart and they doa pre-research before making site visits.
- quality leads will reduce the pain points of efforts put in by the sales team for conversions.
- The time spent by the sales team with prospects is huge in Real estate sales, as practically even for an extremely Hot lead, the conversions take two to three weeks.
So It is obvious the company spends time understanding the importance of generation Quality leads and works on the campaign to drive quality lead generation aspects.
Driving quality lead Traffic is very important to improve Great sales
Driving quality Leads – important aspects
The data points for quality lead are two stepped.
Driving quality leads- The first step is to ensure the above data points.
- the correct name of the prospect.
- The contactable and accurate number
- precise email id.
Driving quality leads-The second step data points are
- The expression of interest or buying mindset of the prospect
- Preferred locations of the prospect ( maybe in your project location)
- Type of product & availability.
- Preference of his budget or price.
For example – a 2 BHK apartment or a 1500 sft Villa in a specified location with an approximate Budget.
When a lead is able to fulfill criteria, we define this as a perfectly Qualified Lead available to the sales team for conversion.
As Real estate sales executives, it is imperative to analyze data points of leads and report on qualified leads and give this feedback to the marketing department, on a periodical basis( as short as a fortnight ).
when takeaways from feedback are tweaked in Marketing campaigns, it will improve the number of qualified leads.
By Industry standards in Real estate, approximately 61% of marketers do not check the quality of received leads on the qualifying criteria or do not take proper feedback from the sales team.
Rather sales team does not give voluntary feedback to improve the Lead quality.
Only 27% of those leads received actually become qualified leads for a sales call. This leads to lesser sales conversion and Higher cost per lead or Higher cost conversion.
It may look simple, but It is finally Lead quantity vs Lead quality.
While the marketing team would like to see the visibility and Big picture and drive the Lead quantity in long term the sales team is challenged to look at lead quality to drive the target achievement of conversions in short term.
To conclude if the marketing team is able to generate such qualified leads it will become a great situation of Quality leads driving Great Conversions or sales numbers.
Again stay tuned, in knowing how to set the climate for the generation of Quality leads.